ST. CLOUD, Minn., Aug. 29, 2017 /PRNewswire/ -- The recognition for Stearns Bank N.A. keeps rolling in this calendar year.
The Stearns Bank Equipment Finance Division, based in Albany, Minnesota, recently received high rankings in Monitor Daily's "Top Bank 50" issue. In the net assets category for 2016, Stearns was ranked No. 27 after being ranked 28th in 2015. In 2016, Stearns finished with nine percent more net assets than the previous year.
The basis for the rankings was determined by a financial institution's net investment in equipment-related loans and leases (net assets). In the new business volume category, Stearns stayed in the 26th position for a second straight year.
Earlier this summer, Stearns was listed at No. 47 in Monitor's prestigious "Top 100" list of the largest equipment finance/leasing companies in the United States. Stearns Bank was listed at No. 50 in last year's "Top 100" and cracked the top 50 for the first time in 2014.
Monitor's "Top 100" is the only source of its kind that provides a dimensioning of the largest equipment finance and leasing companies in the country. It is in its 26th year of publication. The annual report is primarily dependent upon data that comes directly from participants and not from other published outlets. The information is generally not available from any other publications.
This ranking comes on the heels of Stearns Bank earning No. 1 rankings as the top-performing banks in the country from American Banker and Independent Banker in the $2 to $10 billion asset class based on return on average equity over a three-year period.
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.
Vice President of Operations/Stearns Bank Equipment Finance Division
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SOURCE Stearns Bank N.A.