About Stearns Bank
Stearns Bank is a company based in Saint Cloud (United States) founded in 1912 was acquired by VersaBank in June 2022.. Stearns Bank has completed 2 acquisitions, including Contract Capital and South End Capital. Stearns Bank offers products and services including SBA Loans, Equipment Financing, Online Banking, and Commercial Real Estate Finance. Stearns Bank operates in a competitive market with competitors including Truist, Investec, Equity Bank, Citi and KeyBank, among others.
- Headquarter Saint Cloud, United States
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
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- Legal Name Stearns Financial Services, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
- Investors
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Employee Count
Employee Count
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Investments & Acquisitions
Contract Capital
& 1 more
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Acquired by
VersaBank
(Jun 21, 2022)
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Products & Services of Stearns Bank
Stearns Bank offers a comprehensive portfolio of products and services, including SBA Loans, Equipment Financing, Online Banking, and Commercial Real Estate Finance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Loans for small businesses to support growth and acquisitions.
Options for funding business equipment and expansions.
Platform for managing accounts and transactions securely.
Financing for commercial property development and investments.
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Software Development Team
21 people
Finance and Accounting
8 people
Sales and Marketing
7 people
Leadership Team
6 people
SBA Team
4 people
Portfolio Team
4 people
Human Resources and Administration
3 people
Product Management Team
2 people
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Funding Insights of Stearns Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Stearns Bank
Stearns Bank has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include VersaBank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Digital banking services for businesses are offered by VersaBank.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Stearns Bank
Stearns Bank has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Contract Capital and South End Capital. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Provider of upfront funding by purchasing monthly contracted payment streams for MSPs
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2014 | ||||
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Working capital and commercial mortgage loans are provided to businesses.
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2009 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Stearns Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Stearns Bank Comparisons
Competitors of Stearns Bank
Stearns Bank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Truist, Investec, Equity Bank, Citi and KeyBank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Wealth advisory and banking services are offered to clients.
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Global banking, investment, and wealth management services are offered worldwide.
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Commercial banking services are provided to businesses and individuals.
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Diversified financial services are offered through commercial banking operations.
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Regional bank
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Commercial banking services are provided across the United States.
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| Company Name | Domain | Founded year | HQ Location | Description |
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Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Stearns Bank
Frequently Asked Questions about Stearns Bank
When was Stearns Bank founded?
Stearns Bank was founded in 1912.
Where is Stearns Bank located?
Stearns Bank is headquartered in Saint Cloud, United States. It is registered at Saint Cloud, Minnesota, United States.
What does Stearns Bank do?
Stearns Bank was established in 1912 as a commercial bank based in Saint Cloud, Minnesota, United States. Operations focus on standard banking activities, including deposit accounts, loans, and financial services for businesses and individuals. The institution serves regional clients through its physical branches and online platform at stearnsbank.com, adhering to federal banking regulations in the financial sector. Geographic emphasis remains on the Midwest area.
Who are the top competitors of Stearns Bank?
What products or services does Stearns Bank offer?
Stearns Bank offers SBA Loans, Equipment Financing, Online Banking, and Commercial Real Estate Finance.
How many acquisitions has Stearns Bank made?
Stearns Bank has made 2 acquisitions, including Contract Capital, and South End Capital.
Who are Stearns Bank's investors?
Stearns Bank has 1 investor. Key investors include VersaBank.