ST. CLOUD, Minn., June 6, 2017 /PRNewswire/ -- Stearns Bank N.A. is the No. 1 top-performing bank in the country.
Stearns earned the recognition in the June 2017 edition of American Banker Magazine, which ranked the top-performing banks in the $2 to $10 billion asset class based on return on average equity over a three-year period.
Stearns Bank was new to this list after crossing the $2 billion asset threshold in 2016. American Banker credits Stearns for having expertise in equipment finance and other specialty lending while "continuing to invest in business lines that helped it achieve loan yields and net interest margin far superior to those of its peers."
Stearns also achieved the No. 1 ranking as the top-performing community bank in the country from ICBA Independent Banker magazine in its May 2017 edition. That ranking was based on a three-year average return on assets for banks having $1 billion or more.
"Investing wisely in small businesses that best support revenue growth and developing efficiencies through technology is what helped improve our profitability over time," Stearns Bank CEO and owner Norman C. Skalicky said. "We are pleased to be recognized again as one of the top-performing banks in the country. Stearns Bank is committed to achieving a high-performing status by maintaining strong capital reserves and providing quick turnaround with best-in-class service, efficiency and security. Our employee owners are always intelligent and diligent about their work and it continues to show with this type of recognition as a top-performing bank."
Stearns Bank N.A. is a $2 billion, independently-owned financial institution based in Minnesota with locations in Minnesota, Florida and Arizona. Stearns specializes in small business and equipment financing nationwide.
Chief Risk Officer
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SOURCE Stearns Bank N.A.