Stearns Bank announced the expansion of its leadership team with the addition of Bob Stark as President of its Equipment Finance Division (EFD), reporting to Heather Plumski, Stearns Bank’s EVP, Chief Financial & Strategy Officer.
“We are thrilled to welcome Bob Stark to our leadership team. His addition reflects our growth and diversification in delivering customized banking solutions to our EFD customers and strengthening our EFD national market strategy, which is central to our overall business model,” said Kelly Skalicky, President & CEO of Stearns Bank. “Bob’s deep expertise in equipment finance and capital markets paired with his impressive executive and strategic leadership of national players will expand and diversify our equipment finance offerings to enhance our financial product capabilities and services.”
As President of EFD, Stark will spearhead strategic planning, implementation, and execution of the division’s growth, which is Stearns Bank’s oldest, largest, and highest-yielding business unit. He will oversee roughly 165 Stearns Bank employees within EFD and continue to diversify, grow and scale EFD’s national market share. As one of the nation’s top equipment financing leaders, Stearns Bank’s EFD provides customer-centric financing solutions that help businesses—of all sizes, industries, and geographic locations—meet their most pressing financial needs and reach their long-term financial planning goals.
“I am profoundly honored and truly excited to join Stearns Bank, a trusted, well-respected, and dynamic financial services leader with a strong history in the equipment finance industry. My goal is to utilize my unique experience and expertise to add to the already talented executive leadership team,” said Stark. “Stearns Bank’s core values closely align with my own and I look forward to working with the EFD team as we enhance, grow, and propel the division nationally.”
Stark brings nearly 35 years of diverse financial and banking services experiences across various equipment finance roles. Prior to joining Stearns Bank, he was Chief Syndication Officer at Channel, where he was responsible for enhancing and managing all syndication activities, fostering a market brand, and developing both existing and new relationships with long-term strategic partners.
Before Channel, Stark was the Senior Managing Director of Capital Markets and Corporate Development at TCF Equipment Finance, later Huntington, for over 22 years. In that position, he oversaw mergers and acquisitions and led buy and sell teams nationwide. His previous roles also included Chief Credit Officer for Firstar Equipment Finance, where he managed a substantial $5 billion portfolio and was responsible for a team of credit managers. In the beginning of his career, he served as a Corporate Auditor and Senior Credit Officer at Wells Fargo Equipment Finance.
He holds Master of Business Administration degrees in both Strategic Management and Finance from the University of Minnesota’s Carlson School of Management, and a Bachelor of Science degree in Finance. Stark will be based in Minneapolis, MN.