Stearns Financial Services Inc. (SFSI) is a well-capitalized independent financial holding company with a total asset value of $2.4 billion. Established in 1912 and headquartered in St. Cloud, MN, the bank has a rich history. In 1964, it was acquired by Norm Skalicky, and his daughter, Kelly Skalicky, assumed the role of president in 2018, later becoming both president and CEO.
Stearns Bank has expanded its reach with locations in Minnesota, Arizona, and Florida, continuing its commitment to excellence and providing financial services to communities across these regions.
Do not offer Cashout loans,Stearns Bank is considered a regional bank. It has a significant presence in the Midwest and operates as a community bank, serving businesses and individuals in specific regions rather than on a national scale.
Offered Loan Program Types
Bridge
SBA
Property Types
Residential (1-4 units)
Retail
Office
Industrial
Medical
Mixed-use
Storage
Warehouse
Loan Amount
$100K - $80M
Time to close
30-60 days
Primary Areas Served
Midwest
Max LTV
70%
Origination Fee
1.5%
Specialty
Over $10mm, Portfolio/Blanket loans, Foreign National, Raw Land, Affordable Housing, Medical, Warehouse, Storage, Single Tenant