Stearns Bank National Association in Saint Cloud, Minnesota (MN), FL, GA, AZ



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Stearns Bank National Association
GeneralFDIC Certificate #: 10988
Status: Active
Federal Reserve ID: 141556
Bank Holding Company (Regulatory Top Holder): Stearns Financial Services, Inc. Employee Stock Ownership Plan (RSSDID: 2295837, Location: Saint Cloud, MN)
Date Established: May 28, 1912
WWW: http://www.stearnsbank.com
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 13 (Domestic: 11, Interstate: Yes)
OTS Docket #: 10016
FDIC's unique #: 7040
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 23, 2012
Last Structure Change Process Date: March 26, 2012
Last Data Update: March 26, 2012
Data Source Date: April 05, 2012
LocationAddress: 4191 Second Street South, Saint Cloud, MN 56303
County: Stearns
Quarterly Banking Profile Region: Kansas City
FDIC Geographic Region: Kansas City
FDIC Supervisory Region: Kansas City
FDIC Field Office: Minneapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: West
Metropolitan Statistical Area (MSA): St. Cloud, MN (#6980)
Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378)
Core Based Statistical Area (CBSA): St. Cloud, MN (#41060)
CBSA Metro Statistical Area: St. Cloud, MN (#41060)
History of ChangesParticipated in FDIC Assisted Absorption/Consolidation/Merger
Financial SummaryTotal assets: $1,174.7 mil
Equity capital: $233.0 mil
Deposits held in domestic offices: $854.9 mil
Return on assets (ROA): 2.74% ($32.2 mil)
Quarterly return on assets: 3.10% ($36.4 mil)
Return on Equity (ROE): 13.89% ($32.4 mil)
Quarterly return on equity: 15.52% ($36.2 mil)
Net income: $32.9 mil
Quarterly Net income: $9.2 mil
Pretax return on assets: 2.76% ($32,422.7 mil)
Quarterly Pretax return on assets: 3.13% ($36,769.2 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)222
Total assets$1,174,734
Cash and due from depository institutions$63,687
Interest-bearing balances$49,262
Securities$68,583
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$869,572
Loan loss allowance $35,920
Trading account assets$0
Bank premises and fixed assets$14,103
Other real estate owned$63,257
Goodwill and other intangibles$2,415
All other assets$93,117
Life insurance assets$1,174,734
Total liabilities and capital$941,716
Total liabilities$854,872
Total deposits$703,475
Interest-bearing deposits$854,872
Deposits held in domestic offices$84
% insured (estimated)78443.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $8,401
All other liabilities $233,018
Total equity capital$233,018
Total bank equity capital$233,018
Perpetual preferred stock$0
Common stock$999
Surplus$5,084
Undivided profits $226,935
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $3,235
Income earned, not collected on loans $20,744
Earning assets $1,215
Long-term assets (5+ years) $2,250
Average Assets, year-to-date $987,417
Average Assets, quarterly $136,802
Volatile liabilities $1,202,723
Insider loans $1,184,811
FHLB advances $789,327
Loans and leases held for sale $1,167,729
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $225,289
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $157,940
Derivatives$3,662
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $81,323
Total interest expense $8,126
Net interest income $73,197
Provision for loan and lease losses $18,273
Total noninterest income $15,087
Fiduciary activities $0
Service charges on deposit accounts $720
Trading account gains & fees $0
Additional noninterest income $14,367
Total noninterest expense $36,804
Salaries and employee benefits $15,146
Premises and equipment expense $3,442
Additional noninterest expense $18,216
Pre-tax net operating income $33,207
Securities gains (losses) -$2
Applicable income taxes $310
Income before extraordinary items $32,895
Extraordinary gains - net $0
Net income attributable to bank $32,895
Net charge-offs $0
Cash dividends $32,895
Sale, conversion, retirement of capital stock, net $9,895
Net operating income $36,150
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets8.21%
Cost of funding earning assets 0.82%
Net interest margin 7.39%
Noninterest income to earning assets 1.52%
Noninterest expense to earning assets 3.72%
Net operating income to assets 2.74%
Return on assets (ROA) 2.74%
Pretax return on assets 2.76%
Return on equity (ROE) 13.89%
Retained earnings to average equity (YTD only) -1.37%
Net charge-offs to loans 1.10%
Credit loss provision to net charge-offs 184.67%
Efficiency ratio5.20%
Assets per employee$41,688
Cash dividends to net income (YTD only)5.29%
Condition Ratios (%)
Loss allowance to loans 109.90%
Loss allowance to noncurrent loans 3.97%
Noncurrent assets plus other real estate owned to assets 173.16%
Noncurrent loans to loans 7.15%
Net loans and leases to deposits2.29%
Net loans and leases to core deposits 101.72%
Equity capital to assets 143.16%
Core capital (leverage) ratio 19.84%
Tier 1 risk-based capital ratio 19.29%
Total risk-based capital ratio 28.54%
Memoranda
Average assets$30
Average earning assets$1,202,723
Average equity $236,905
Average loans $990,152
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Total Fiduciary and Related Assets (December 31, 2007)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$6,698
Number of Accounts1
Personal trust and agency accounts$6,698
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$6,698
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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2 Arizona Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
657194Stearns Bank Arizona National Associ9225 East Shea Boulevard, Scottsdale, AZ 85260July 21, 1997Full Service Brick and Mortar
2780244Copper Star Bank Branch7555 East Redfield Road, Scottsdale, AZ 85260May 22, 2000Full Service Brick and Mortar
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4 Florida Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
1239024Venice Branch201 Center Road, Venice, FL 34285Febuary 16, 1988Full Service Brick and Mortar
1639684Sarasota (Links) Branch22 South Links Avenue, Sarasota, FL 34236October 27, 1988Full Service Brick and Mortar
21261329St Petersburg (Gateway) Branch7555 Dr. Martin Luther King, Jr. Street North, Saint Petersburg, FL 33702May 04, 1998Full Service Brick and Mortar
22456172Messenger Service22 South Links Avenue, Sarasota, FL 34236November 08, 2006Limited Service Messenger
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3 Georgia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
2661193Atlanta Branch2410 Paces Ferry Road, Suite 190, Atlanta, GA 30339August 17, 1998Full Service Brick and Mortar
30438771Covenant Bank & Trust Branch122 Highway 95, Rock Spring, GA 30739June 12, 2006Full Service Brick and Mortar
31468184Dalton Branch220 South Hamilton Street, Dalton, GA 30720September 04, 2007Full Service Brick and Mortar
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4 Minnesota Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
07040Stearns Bank National Association4191 Second Street South, Saint Cloud, MN 56303May 28, 1912Full Service Brick and Mortar
4223539Albany Branch140 5th Street, Albany, MN 56307October 15, 1997Full Service Brick and Mortar
106232Pine City Branch600 Hillside Avenue Sw, Pine City, MN 55063June 01, 1915Full Service Brick and Mortar
11454912North Branch Office38877 10th Avenue, North Branch, MN 55056September 05, 2006Full Service Brick and Mortar
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