Stearns Bank N.A. Acquires First State Bank Sarasota & Community National Bank - Sarasota County, FL

ST. CLOUD, Minn., Aug. 8 /PRNewswire/ -- Stearns Bank N.A. headquartered in St. Cloud, Minnesota acquired First State Bank Sarasota and Community National Bank - Sarasota County. First State Bank Sarasota has locations in Sarasota, Venice, St. Petersburg, Clearwater, Largo and Seminole, Florida. Community National Bank - Sarasota County has locations in Venice and North Port, Florida. Insured depositors and loan customers of both banks will automatically become depositors and customers of Stearns Bank and will retain uninterrupted services and access to their accounts.

Stearns Bank is an independently owned financial institution established in 1912, under current ownership since 1964. Stearns Bank has grown to more than $1 billion in assets with locations in St. Cloud, Albany, Pine City, North Branch, Holdingford, and Upsala MN, along with Scottsdale, Arizona. Stearns also has a nationwide Equipment Finance division and a National Accounts Receivable division.

Norman C. Skalicky, CEO of Stearns Bank said, "We are very pleased to have the opportunity to welcome the customers of First State Bank Sarasota and Community National Bank - Sarasota County to Stearns Bank. We have always maintained a strong capital position at Stearns Bank. This strategy, along with the confidence provided by our regulators, is very important in these unparalleled economic times. Stearns bank stands ready to meet the financial needs of our communities, and we are very optimistic of the opportunities before us."

www.stearns-bank.com