Sterling State Bank is headquartered in Austin and is the 41st largest bank in the state of Minnesota. It is also the 1,785th largest bank in the nation. It was established in 1958 and as of June of 2022, it had grown to 65 employees at 6 locations. Sterling State Bank has a B+ health rating.
Because the instructions for this review state that a post is to be "free of personal attacks" and that "rude and derisive posts directed toward others are not allowed", I will tell you about my experience, as a customer of Sterling State Bank, in very simple and accurate terms. Today I was found NOT GUILTY of felony criminal charges that were brought as a result of allegations that were made by Sterling State Bank. This verdict speaks to the credibility (or lack thereof) of the owner of Sterling State Bank and to credibility (or lack thereof) of the testimony of it's top officer at the Apple Valley branch of Sterling State Bank.
| Overall | |
|---|---|
| FDIC Certificate # | 17863 |
| Year Established | 1958 |
| Employees | 65 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.49% |
| Return on Equity - YTD | 8.64% |
| Annual Interest Income | $7.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $482.4MM$463.6MM |
| Loans | Q2 2022vs Q2 2021 | $242.4MM$248.9MM |
| Deposits | Q2 2022vs Q2 2021 | $374.1MM$351.3MM |
| Equity Capital | Q2 2022vs Q2 2021 | $20.6MM$36.6MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $3.4MM$3.4MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $54.00K$100.00K |
| Real Estate Owned | Q2 2022vs Q2 2021 | $959.00K$1.8MM |
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| Sterling State Bank Locations | ||
|---|---|---|
| Rochester 25th Street Branch | 10 25th Street Se | Rochester, MN 55904 |
| Rochester Facility | 4200 Badger Hills Dr Nw | Rochester, MN 55901 |
| Savage Branch | 14185 Highway 13 South | Savage, MN 55378 |
| Sterling State Bank | 1419 1st Ave Sw | Austin, MN 55912 |
| Lakeville Branch | 16366 Kenrick Avenue | Lakeville, MN 55044 |
| Apple Valley Branch | 4520 150th Street West | Apple Valley, MN 55124 |