Stearns Bank Donates $250,000 to American Red Cross and Extends $5 Million in Zero-Interest Loans for Hurricane Relief

ST. CLOUD, Minn., Oct. 19, 2017 /PRNewswire/ -- Stearns Bank N.A. is donating $250,000 to the American Red Cross to aid local relief efforts in areas of Texas and Florida affected by Hurricanes Harvey and Irma.

In addition, Stearns Bank employees, with a matching donation from the Norman C. Skalicky Foundation, has also given $30,000 to support the American Red Cross.

"Generous gifts like the one from Stearns Bank enable American Red Cross volunteers to be there when disaster strikes, providing essentials such as safe shelter, hot food, medication and emotional support to families and individuals in their darkest days," said Stephen Birkhauser, Chief Development Officer for the American Red Cross. "We simply could not respond if not for donations made out of compassion for those in need."

The $250,000 donation is part of a broader hurricane relief program implemented by Stearns Bank, offering customers in Texas and Florida the chance to repair and rebuild from hurricane damage using zero-percent interest loans with no fees.

"In addition to the bank donation and the employee contribution to the American Red Cross, Stearns Bank extended $5 million to help our customers get operational as quickly as possible," said Matt Geist, Chief Financial Officer of Stearns Bank. "By offering interest-free, no-fee loans, we made a commitment to forego profit and focus on our customers' recovery."

Since its launch on September 18, more than 200 business customers within the Federal Emergency Management Agency's (FEMA) designated area have taken part in Stearns Bank's Hurricane Relief Express Loan program.

"We had many customers in Texas and Florida who were hit hard by recent hurricanes," added Norm Skalicky, CEO of Stearns Bank. "To be able to help them in their time of need is something we didn't have to think twice about. It's part of our commitment to get the job done. We're happy to help contribute to this relief effort and glad to see so many customers getting back on their feet."

Stearns Bank actively supports organizations that directly aid and benefit communities, including local food shelves, housing organizations, education and youth mentorship, and various other charitable groups.

About Stearns Bank | We get the job done!^®

Minnesota-based Stearns Bank National Association is a $2 billion, independently-owned financial institution with locations in Minnesota, Florida and Arizona, and over 33,000 small business customers nationwide, in every U.S. state. Recognized as the #1 performing bank in the nation by both American Banker and Independent Banker magazines, Stearns specializes in small business lending and equipment financing. Driven by its mission to deliver outstanding personal service, fast decisions, and customized finance solutions, Stearns gets the job done! For more information, visit StearnsBank.com.

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SOURCE Stearns Bank N.A.