Stearns Bank Acquires First State Bank & Community National Bank of Sarasota County

For Immediate Release

August 7, 2009 at 6:00 p.m. EST -- Stearns Bank N.A., headquartered in St. Cloud, Minnesota acquired First State Bank and Community National Bank of Sarasota County. First State Bank has locations in Sarasota, Venice, St. Petersburg, Clearwater, Largo and Seminole, Florida. Community National Bank of Sarasota County has locations in Venice and North Port, Florida. All depositors and loan customers of both banks will automatically become depositors and customers of Stearns Bank and will retain uninterrupted services and access to their accounts.

Stearns Bank is an independently owned financial institution established in 1912, under current ownership since 1964. Stearns Bank has grown to more than $1 billion in assets with locations in St. Cloud, Albany, Pine City, North Branch, Holdingford, and Upsala Minnesota, along with Scottsdale, Arizona. Stearns Bnk also has a nationwide Equipment Finance division and a National Accounts Receivable division.

Norman C. Skalicky, CEO of Stearns Bank, said, "We are very pleased to have the opportunity to welcome the customers of First State Bank and Community National Bank of Sarasota County to Stearns Bank. We have always maintained a strong capital position at Stearns Bank. This strategy, along with the confidence provided by our regulators, is very important in these unparalleled economic times. Stearns Bank stands ready to meet the financial needs of our communities, and we are very optimistic of the opportunities before us."

FDIC Bank Closing Information for First State Bank
FDIC Bank Closing Information for Community National Bank of Sarasota County

Contact Information:

Please call your branch location.

Clearwater: 727-324-0550
St. Petersburg: 727-521-1000 (M.L. King Jr St);  727-898-1000 (4th St N)
Largo: 727-324-0350
Seminole: 727-397-1000
Sarasota: 941-921-5510 (Clark Rd);  941-929-9000 (Links Ave);  941-923-9999 (Stickney Pt)
Venice: 941-497-6660 (Center Rd);  941-488-6660 (270 S. Tamiami Tr); 
              941-497-0088 (WalMart);  941-237-2070 (1729 S. Tamiami Trail)
North Port: 941-423-9028

Stearns Bank N.A.
www.stearns-bank.com
Member FDIC.