Based out of Minnesota, Stearns Bank National Association (Stearns Bank N.A.) is a $3.1B, independently owned financial institution with locations in Minnesota, Florida, and Arizona, and over 35,000 small business customers across the US.
What's the relationship between Adro and Stearns Bank?
Adro has selected Stearns Bank as its sponsor bank. Adro is not a bank, and does not hold a banking license.
Sponsor banks are state or federal chartered banks that partner with financial technology companies, such as Adro, so they can offer banking services and products. The role of a sponsor bank is to facilitate the movement of money and provide compliance oversight.
Is Adro and Stearns Bank the same company?
No. Both Adro and Stearns Bank operate separately.
Just because you have an Adro account, does not mean you are a customer of Stearns Bank. For support, you would contact the Adro team at [email protected].