CornerStone Bank, N. A. in Lexington, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • CornerStone Bank, N. A. in Lexington, Virginia (VA)
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CornerStone Bank, N. A. - Overview

  • General
  • FDIC Certificate #: 58859
    Status: Active
    Federal Reserve ID: 3816163
    Date Established: Febuary 17, 2009
    WWW: http://www.cornerstonebankva.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 470827
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: Febuary 17, 2009
    Last Structure Change Effective Date: Febuary 17, 2009
    Last Structure Change Process Date: Febuary 18, 2009
    Last Data Update: Febuary 18, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 457 E. Nelson Street, Lexington, VA 24450
    County: Rockbridge
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Richmond
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
    New Institution
  • Financial Summary
  • Total assets: $77.9 mil
    Equity capital: $8.8 mil
    Deposits held in domestic offices: $69.0 mil
    Return on assets (ROA): 1.50% ($1.2 mil)
    Quarterly return on assets: 4.29% ($3.3 mil)
    Return on Equity (ROE): 12.93% ($1.2 mil)
    Quarterly return on equity: 38.34% ($3.5 mil)
    Net income: $1.0 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 0.68% ($530.0 mil)
    Quarterly Pretax return on assets: 1.26% ($982.1 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 19Total employees (full-time equivalent)
  • $77,941Total assets
  • $8,649Cash and due from depository institutions
  • $7,473Interest-bearing balances
  • $1,500Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $62,651Net loans & leases
  • $896Loan loss allowance
  • $0Trading account assets
  • $3,459Bank premises and fixed assets
  • $423Other real estate owned
  • $0Goodwill and other intangibles
  • $77,941Life insurance assets
  • $1,259All other assets
  • $69,166Total liabilities and capital
  • $68,973Total liabilities
  • $61,710Total deposits
  • $68,973Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $193Subordinated debt
  • $8,775All other liabilities
  • $8,775Total equity capital
  • $8,775Total bank equity capital
  • $0Perpetual preferred stock
  • $4,720Common stock
  • $4,583Surplus
  • $-528Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $211Long-term assets (5+ years)
  • $71,624Average Assets, year-to-date
  • $29,234Average Assets, quarterly
  • $68,733Volatile liabilities
  • $74,715Insider loans
  • $63,006FHLB advances
  • $74,804Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $8,485Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $5,757Restructured Loans and leases
  • $5,751Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,513Total interest income
  • $854Total interest expense
  • $2,659Net interest income
  • $289Provision for loan and lease losses
  • $322Total noninterest income
  • $0Fiduciary activities
  • $34Service charges on deposit accounts
  • $0Trading account gains & fees
  • $288Additional noninterest income
  • $2,226Total noninterest expense
  • $1,100Salaries and employee benefits
  • $356Premises and equipment expense
  • $770Additional noninterest expense
  • $466Pre-tax net operating income
  • $0Securities gains (losses)
  • -$566Applicable income taxes
  • $1,032Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,032Net income attributable to bank
  • $0Net charge-offs
  • $1,032Cash dividends
  • $3Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.60%Yield on earning assets
  • 1.36%Cost of funding earning assets
  • 4.24%Net interest margin
  • 0.51%Noninterest income to earning assets
  • 3.55%Noninterest expense to earning assets
  • 1.50%Net operating income to assets
  • 1.50%Return on assets (ROA)
  • 0.68%Pretax return on assets
  • 12.93%Return on equity (ROE)
  • 12.93%Retained earnings to average equity (YTD only)
  • 0.01%Net charge-offs to loans
  • 9633.33%Credit loss provision to net charge-offs
  • 251.67%Efficiency ratio
  • 74,673Assets per employee
  • 4.10%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.41%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 0.54%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 90.83%Net loans and leases to core deposits
  • 103.19%Equity capital to assets
  • 11.26%Core capital (leverage) ratio
  • 11.34%Tier 1 risk-based capital ratio
  • 13.47%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $68,733Average earning assets
  • $7,979Average equity
  • $62,772Average loans

List of branches

  • 1 Virginia Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0470827Cornerstone Bank, N. A.457 E. Nelson Street, Lexington, VA 24450Febuary 17, 2009Full Service Brick and Mortar

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