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Stearns Bank Ranked as One of the Nation’s Top Equipment Finance Lenders

Posted on: Jul 25, 2019

Stearns Bank has once again earned a spot on the prestigious Monitor 100, an annual listing of the top 100 equipment finance and leasing companies in the United States. It is compiled by Monitor magazine, which is the leading independent trade publication in the equipment finance and leasing industry.

Stearns Bank has a long history of providing customized equipment leasing and loan solutions to business owners across the country, and it only continues to expand its offerings. As a result of its continued growth, Stearns Bank recently completed an 11,000 square-foot addition to its Equipment Finance Division in Albany, Minn. Over the past two years, the organization has hired more than 150 new employees to serve its ever-growing customer base.

In addition to this ranking, Stearns Bank has received the following recognitions so far in 2019:

  • Independent Community Bankers of America (ICBA) ranked Stearns Bank as the nation’s fifth highest performing bank in its peer group, based on a three-year average Return on Assets (ROA).
  • American Banker magazine ranked Stearns Bank as the nation’s ninth highest performing bank in its peer group, based on a three-year average return on equity. In both 2017 and 2018, American Banker named Stearns Bank the top performing bank in the nation among banks with $2 to $10 billion in assets.
  • Minnesota’s largest newspaper named Stearns Bank one of the state’s Top 150 Places to work in 2019. The annual list released by the StarTribune is based on employee surveys.

“On behalf of the board and executive team, I’d like to thank our employees at Stearns Bank for their relentless dedication to our ongoing success. I’d also like to thank our ever-growing customer base, whom we are honored and privileged to work with and serve,” said Stearns Bank President Kelly Skalicky. “We take great pride in working hard to get the job done for our customers and earning top performance rankings year after year, but we don’t rest on our laurels. We are constantly improving, looking for opportunities to grow and diversify our national construction specialty lending, our small business and equipment financing, and our customized cash management and deposit services. We are laser-focused on finding innovative ways to increase speed and convenience for customers who are on the move, growing their businesses.”

Stearns Bank recently launched a simplified lineup of deposit products that includes their Above the Norm and BusinessSmart high-interest accounts with cash back rewards and greater mobile convenience.

About Stearns Bank | We get the job done!®
Minnesota-based Stearns Bank National Association is a $2 billion, independently-owned financial institution with locations in Minnesota, Florida and Arizona, and over 33,000 small business customers nationwide, in every U.S. state. Recognized as one of the nation’s top-performing banks by both American Banker and Independent Banker magazines, Stearns Bank specializes in small business lending and equipment financing. Driven by a passion to help others achieve their greatest ambitions, Stearns Bank gets the job done! For more information, visit StearnsBank.com.