Business Details
26 Years
experience
Your Trusted Partner for Business and Personal Banking Solutions
Stearns Bank is driven by a passion to help individuals and businesses achieve their greatest ambitions. Founded in 2000, our employee-owned structure fosters an entrepreneurial spirit, enabling us to deliver tailored banking solutions with a focus on customer success. We specialize in business and personal banking, equipment financing, SBA loans, and commercial real estate finance, serving clients nationwide while maintaining deep roots in our Minnesota home community. Our team combines decades of financial expertise with a commitment to innovation, having facilitated over $1.2 billion in loans to entrepreneurs.Recognized nationally for our performance and workplace culture, we maintain FDIC insurance and adhere to strict ethical standards, including Sharia-compliant banking options through our Salaam division. With a tenacious pursuit of excellence, we prioritize personalized service, offering 24/7 digital banking access alongside in-person support at our branches across Minnesota, Arizona, and Florida.
Services
Business Checking
Equipment Financing
SBA Loans
Certificates of Deposit
Personal Checking
Commercial Real Estate
Merchant Services
Online Banking
Credit Cards
Sharia Banking
Details
- Year established: 2000
Highlights and features
- We offer employee-owned banking with personalized service since 2000.
- Our Sharia-compliant Salaam division aligns banking with ethical values.
- We provide nationwide lending with local community expertise.
- Recognized top-performing bank with 24/7 digital banking access.
- Over $1.2 billion in loans delivered to support entrepreneurial growth.
Associations and certifications
- FDIC
- Independent Community Bankers of America
- Monitor 100
What people say
Personalized service
Responsive financing
Community-focused
Sharia-compliant options
Competitive rates
Services
Business Checking
Our BusinessSmart Checking accounts offer no minimum balance requirements, interest earnings, and cash rewards on debit card purchases. Designed for businesses of all sizes, these accounts include unlimited ACH transactions and zero maintenance fees for high-balance customers. With FDIC insurance and online banking tools, we provide secure, flexible solutions to manage daily operations efficiently.
Equipment Financing
We deliver fast equipment financing decisions with in-house processing and personalized service. Our solutions support purchases of new or used equipment across industries, offering flexible terms and quick funding. Backed by decades of experience, our team structures loans to match business cash flow needs, helping clients acquire essential machinery, vehicles, or technology without depleting working capital.
SBA Loans
Our SBA loan programs support business growth, acquisitions, and franchise development with favorable terms. As a preferred lender, we streamline the application process while offering competitive rates and extended repayment periods. Expert underwriters guide clients through SBA 7(a), 504, and microloan options, focusing on long-term success rather than short-term metrics.
Certificates of Deposit
Business CDs provide guaranteed returns with terms from 3 to 60 months and tiered interest rates. Minimum deposits start at $500, with options for penalty-free interest payouts or compounded growth. These low-risk instruments suit businesses seeking predictable returns while maintaining FDIC protection, with flexible maturity choices to align with financial goals.
Sharia Banking
Salaam Banking offers Islamic finance-compliant products reviewed by a Sharia Advisory Board. Services include interest-free lending structures, profit-sharing investment accounts, and ethically screened business financing. This division serves clients seeking banking solutions aligned with Islamic principles, combining modern financial tools with religious compliance.
People
Kelly Skalicky
Chief Executive Officer
Kelly Skalicky leads Stearns Bank with over 25 years of financial leadership experience. She champions employee ownership and community impact, driving strategic growth while maintaining the bank's mission-focused culture.
Heather Plumski
President
Heather Plumski oversees daily operations and innovation initiatives. With expertise in banking strategy, she has expanded the bank's lending capabilities and digital services while maintaining its customer-centric ethos.
Tam Nguyen
Chief Financial Officer
Tam Nguyen manages financial strategy and risk management. His background in accounting and corporate finance ensures Stearns Bank's fiscal strength and sustainable growth trajectory.
Vicky Arroyo
Chief Lending Officer
Vicky Arroyo leads lending operations with a focus on accessible financing solutions. She has structured over $500 million in loans while maintaining rigorous underwriting standards.
Dr. Aamir Rehman
Advisory Board
Dr. Aamir Rehman contributes financial technology expertise to Stearns Bank's advisory board. His research on digital banking trends informs the institution's innovation strategy.
Questions
What loan programs does Stearns Bank offer for small businesses?
We provide SBA loans, equipment financing, USDA Rural Development Loans, and commercial real estate financing tailored to small business needs.
How can I access banking services outside business hours?
Our online and mobile banking platforms allow 24/7 account access for transactions, bill payments, and account management.
Does Stearns Bank offer Sharia-compliant financial products?
Yes, our Salaam Banking division provides Islamic finance-compliant accounts and loans approved by an independent Sharia Advisory Board.
What sets Stearns Bank apart from other financial institutions?
As an employee-owned bank, we combine personalized service with national lending capabilities, prioritizing customer success over corporate interests.
How quickly can I get approved for equipment financing?
Our in-house underwriting process delivers equipment loan decisions within hours, with funding often available the same day.
Are my deposits insured at Stearns Bank?
Yes, all deposit accounts are FDIC-insured up to legal limits, with optional extended coverage through our Insured Cash Sweep program.
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