Sterling Bank is headquartered in Barron and is the 101st largest bank in the state of Wisconsin. It is also the 2,899th largest bank in the nation. It was established in 1885 and as of December of 2013, it had grown to 52 employees at 4 locations. Sterling Bank's savings rates are 5X the national average, and it has a B+ health rating.
Do not invest your money at Sterling Bank.
Sterling bank rolled over a $182,000 3.39% 2-year CD to a 0.55% 2-year CD without my approval.. I wanted to transfer the cash to TIAA at 3% no time limit. They would not correct their error, and wanted to charge me $5,500 to cancel the incorrect CD.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Sterling Bank had $1.18 million in non-current loans and owned real-estate with $19.58 million in equity and loan loss allowances on hand to cover it. This gives Sterling Bank a Texas Ratio of 6.03% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Sterling Bank increased slightly from 1.00% as of December 31, 2012 to 6.03% as of December 31, 2013, resulting in a negative change of 503.58%. This indicates that the balance sheet and financial strength for Sterling Bank has declined slightly in recent periods.
In the past year, Sterling Bank has decreased its total deposits by -$1.2 million, resulting in -0.65% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Sterling Bank has shown is average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Sterling Bank has $213.03 million in assets with $19.58 million in equity, resulting in a capitalization level of 9.19%, which is average.
|FDIC Certificate #||6195|
|Assets and Liabilities|
|Equity Capital||$17.87 million|
|Loan Loss Allowance||$1.72 million|
|Unbacked Noncurrent Loans||$1.02 million|
|Real Estate Owned||$162,000|
|Historic Data - December 2012|
|Equity Capital||$17.33 million|
|Loan Loss Allowance||$1.69 million|
|Real Estate Owned||$190,000|
|Profit Margin - Quarterly|
|Net Interest Margin||3.82%|
|Return on Assets||1.76%|
|Return on Equity||20.26%|
|Interest Income||$8.99 million|
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|2.53%||$50k||-||Health Savings Account|
|0.90%||$250k||-||IRA Variable Savings|
|0.15%||$50k||-||Money Market Account|
|1.36%||$10k||-||60 Month CD|
|1.00%||$25k||-||36 Month CD|
|0.80%||$10k||-||30 Month CD|
|0.70%||$10k||-||24 Month CD|
|0.50%||$10k||-||18 Month CD|
|0.40%||$25k||-||12 Month CD|
|0.40%||$10k||-||15 Month CD|
|0.25%||$10k||-||9 Month CD|
|0.20%||$10k||-||182 Day CD|
|Sterling Bank Locations|
|Sterling Bank||234 East LA Salle Avenue||Barron, WI 54812|
|Luck Branch||2547 State Route 35||Luck, WI 54853|
|Rice Lake Branch||311 North Main Street||Rice Lake, WI 54868|
|Chetek Branch||427 Second Street||Chetek, WI 54728|