BEST COMPANIES

In equipment finance, performance is typically measured by deal volume and speed. Stearns Bank operates on a broader scale. By pairing national lending power with a deep-seated commitment to equity, the bank has carved out a unique identity — earning recognition as a Monitor Best Company in Equipment Finance in the Inclusion category.

At Stearns Bank, inclusion isn’t a side project; it is the framework for daily operations. The organization is majority women-owned and governed — a rarity in the industry. Women represent 65% of the workforce, 60% of managers and 75% of executives. Within the equipment finance division, more than half of the leadership roles are held by women. At the board level, women and individuals from minority communities make up 100% of directors, ensuring diverse perspectives drive the bank’s long-term strategy.

This culture is reinforced by a direct stake in the company’s success. Through employee ownership and benefits designed for real-life needs, every team member is invested in the mission. The bank provides a $5,000 annual family care benefit for expenses such as childcare, elder care and student loan support. Furthermore, extending healthcare benefits to domestic partners ensures equity for all family structures.

The team stays connected through continuous learning. Employees engage in training focused on empathy and inclusive communication, alongside cross-functional collaboration. Programs like Heritage Month events and “Employee Spotlights” ensure individual voices are highlighted and valued. By aligning representative leadership and intentional benefits with a high-performing platform, Stearns Bank proves that inclusion drives stronger outcomes, setting a new benchmark for industry excellence.

The independently owned, $3.2 billion-asset institution’s inclusive culture has led to real results as its team supports companies nationwide with equipment finance, SBA and USDA lending, and small-business banking. Known for looking beyond the rigid boundaries of traditional credit models, the bank blends efficient digital tools with high-touch service. Its team often returns financing decisions in just hours, allowing business owners to move quickly without losing the benefit of a personalized relationship.