Sterling State Bank
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Data as of · sourced from FFIEC call reports. How we update
Sterling State Bank is an FDIC-insured commercial bank headquartered in Austin, MN, established in 1958 (FDIC certificate 17863), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $461.9M, down 10.6% from Q2 2025, the 55th largest of 221 banks headquartered in Minnesota. Its CET1 capital ratio was 12.80% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 17863
- Headquarters
- Austin, MN
- Established
- 1958
- Total assets, Q2 2026
- $461.9M
- Assets vs Q2 2025
- -10.6%
- CET1 ratio, Q2 2026
- 12.80%
- Domestic offices
- 6 FDIC institution directory, current count
- Routing number
- 091900944
- Latest call report
- Q2 2026, FFIEC 041 · Sterling State Bank call report
- Holding company
- STERLING FINANCIAL GROUP, INC.
- Asset rank in state
- 55th of 221 in Minnesota
Problem loans are rising at Sterling State Bank. The Austin, Minnesota bank had $462 million in assets at June 30, 2026, down 10.6% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 0.47% of loans from 0.08% a year earlier. It funds 8.54% of its assets with Tier 1 capital, lower than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 10.99%). It also holds commercial real estate loans worth 3.1 times its capital, 2.6 times the median of 1.2 times for banks its size.
Earnings jumped: net income for the quarter was $1.2 million, 76% above the same quarter a year earlier. Paper losses on its bond portfolio are shrinking: unrealized losses of $8.3 million equal 21% of Tier 1 capital, down from 28% a year earlier. Costs are the weak spot: it spends about 73 cents to bring in each dollar of revenue, higher than about three-quarters of banks its size (median 61 cents).
As of June 30, 2026, Sterling State Bank reported a CET1 capital ratio of 12.80%, a return on assets of 1.03%, a nonperforming-loan ratio of 0.47% and a Texas ratio of 4.06%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Sterling State Bank is the 55th largest of the 221 banks headquartered in Minnesota. From Q1 2026 to Q2 2026, its total assets fell 0.1% to $461.9M, loans fell 1.8% and deposits fell 1.1%. Its loan book on June 30, 2026 was led by non-owner-occupied commercial real estate loans, at 38.2% of total loans, followed by owner-occupied commercial real estate loans at 29.9%. Its 6 offices in the FDIC Summary of Deposits are in 5 cities in MN; its Rochester 2 offices book 62% of its branch deposits. By the capital ratios in its Q2 2026 call report, Sterling State Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 1419 1st Ave Sw, Austin, MN 55912
- County
- Mower
- Metro Area
- Austin, MN
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- No
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 041
- Established
- May 1, 1958
- Domestic offices
- 6 FDIC institution directory, current count
- Employees (FTE)
- 59
- Domestic deposits
- $359.5M
- Allowance for credit losses
- $3.6M
- Net charge-offs (YTD)
- $0
- Average total assets
- $469.0M
- Average total loans
- $307.9M
- Average interest-bearing deposits
- $273.0M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- May 1, 1958
- FDIC Cert
- 17863
- Fed RSSD
- 144155
- SEC CIK
- 1991301 → filed by STERLING FINANCIAL GROUP, INC.
- Website
- www.sterlingstatebank.com →
- Parent Holding Company
- STERLING FINANCIAL GROUP, INC. (RSSD 1123410)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, Sterling State Bank's total assets ran between $461.9M (Q2 2026) and $547.5M (Q4 2023), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$461.9M total assets against $516.4M; $430.1M total liabilities against $489.1M.
$304.9M net loans and leases against $295.2M; $359.5M total deposits against $341.2M.
$125.8M securities against $187.9M; $14.6M cash and balances due against $11.4M.
$5.5M total interest income against $5.6M; $1.5M total interest expense against $2.3M.
$4.0M net interest income against $3.3M.
$468K total noninterest income against $511K; $3.3M total noninterest expense against $3.1M.
$0 provision for credit losses against $0.
$1.2M net income against $688K.
1.03% return on assets against 0.52%; 3.59% net interest margin against 2.66%.
12.80% CET1 capital ratio against 12.34%; 8.54% tier 1 leverage ratio against 7.22%.
Inside the full Sterling State Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans exceed 300% of total capital, the threshold at which the 2006 interagency guidance flags a bank for heightened supervisory scrutiny. CRE concentration has been the central stress vector for regional banks since 2023. 2006 Interagency CRE Concentration Guidance (SR 07-1).
Sterling State Bank rankings
Its closest position to the top of a national ranking is 1,557 of 3,640, for Texas Ratio; its furthest is 2,932 of 3,606, for efficiency ratio.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 0.31% (Q3 2024) to 1.03% (Q2 2026) and its net interest margin ran from 2.26% (Q3 2024) to 3.59% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 12.80% | 1.03% | 0.47% | 4.06% | 3.59% |
| Q1 2026 | 12.52% | 0.93% | 0.48% | 4.27% | 3.34% |
| Q4 2025 | 12.36% | 0.61% | 0.47% | 4.19% | 3.21% |
| Q3 2025 | 12.66% | 0.75% | 0.08% | 3.63% | 2.80% |
| Q2 2025 | 12.34% | 0.52% | 0.08% | 3.96% | 2.66% |
| Q1 2025 | 12.25% | 0.58% | 0.08% | 4.28% | 2.64% |
| Q4 2024 | 12.26% | 0.33% | 0.09% | 4.84% | 2.46% |
| Q3 2024 | 12.30% | 0.31% | 0.09% | 4.16% | 2.26% |
Swipe the table sideways to see every column.
Branch Network
View all 6 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Rochester Branch | Rochester , MN | 55901 | $176.7M |
| Sterling State Bank (main office) | Austin , MN | 55912 | $47.3M |
| Rochester South Branch | Rochester , MN | 55904 | $46.7M |
| Lakeville Branch | Lakeville , MN | 55044 | $37.5M |
| Savage Branch | Savage , MN | 55378 | $35.0M |
| Apple Valley Branch | Apple Valley , MN | 55124 | $16.4M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| December 7, 1991 | Structure Change | Acquired London State Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| December 6, 1991 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| April 10, 1990 | Structure Change | Acquired Bank of Lyle Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 9, 1990 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 4 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.1% of deposits in MN, rank 84 of 277 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 30 applications, 25 loans originated, $5.8M originated, across 2 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $50K approved, $50K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2003 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Sterling State Bank
What are Sterling State Bank's total assets?
As of the Q2 2026 filing, Sterling State Bank reported total assets of $461.9 million in its FFIEC call report.
Where is Sterling State Bank headquartered?
It is headquartered in Austin, MN, United States.
When was Sterling State Bank founded?
It was established in 1958, per the FDIC institution directory.
Is Sterling State Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #17863). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Sterling State Bank?
Sterling State Bank's primary federal regulator is the FDIC.
What is Sterling State Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 12.80% in its Q2 2026 call report, above regulatory requirements.
How many branches does Sterling State Bank operate?
It operates 6 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Sterling State Bank's Texas Ratio?
Its Texas Ratio is 4.06% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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