Cornerstone Bank in Fargo, North Dakota (ND)
Overview, Financial Summary, Detailed Financial Reports, Branches

Cornerstone Bank - Overview

  • General
  • FDIC Certificate #: 13198
    Status: Active
    Federal Reserve ID: 743857
    Bank Holding Company (Regulatory Top Holder): Cornerstone Holding Company, Inc. (RSSDID: 3435283, Location: Fargo, ND)
    Date Established: July 15, 1907
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 4, Interstate: No)
    FDIC's unique #: 8352
    Numeric code: 21
    Regulator: FDIC
    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: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: December 08, 2010
    Last Structure Change Process Date: December 08, 2010
    Last Data Update: December 08, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 2280 45th Street South, Fargo, ND 58104
    County: Cass
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Fargo
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Fargo-Moorhead, ND-MN (#2520)
    Combined Statistical Area (CSA): Fargo-Wahpeton, ND-MN (#244)
    Core Based Statistical Area (CBSA): Fargo, ND-MN (#22020)
    CBSA Metro Statistical Area: Fargo, ND-MN (#22020)
  • Financial Summary
  • Total assets: $265.8 mil
    Equity capital: $24.5 mil
    Deposits held in domestic offices: $222.3 mil
    Return on assets (ROA): 0.15% ($0.4 mil)
    Quarterly return on assets: 0.16% ($0.4 mil)
    Return on Equity (ROE): 1.70% ($0.4 mil)
    Quarterly return on equity: 1.81% ($0.4 mil)
    Net income: $0.4 mil
    Quarterly Net income: $0.1 mil
    Pretax return on assets: 0.26% ($691.2 mil)
    Quarterly Pretax return on assets: 0.57% ($1,515.2 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ 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
  • 84Total employees (full-time equivalent)
  • $265,833Total assets
  • $26,034Cash and due from depository institutions
  • $23,261Interest-bearing balances
  • $31,790Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $187,087Net loans & leases
  • $6,819Loan loss allowance
  • $0Trading account assets
  • $7,992Bank premises and fixed assets
  • $7,436Other real estate owned
  • $244Goodwill and other intangibles
  • $265,833Life insurance assets
  • $5,250All other assets
  • $241,359Total liabilities and capital
  • $222,330Total liabilities
  • $208,572Total deposits
  • $222,330Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $18,121Trading liabilities
  • $0Other borrowed funds
  • $908Subordinated debt
  • $24,474All other liabilities
  • $24,474Total equity capital
  • $24,474Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $27,902Surplus
  • $-3,528Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $6,504Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $11,668Income earned, not collected on loans
  • $4Earning assets
  • $1,006Long-term assets (5+ years)
  • $242,138Average Assets, year-to-date
  • $40,576Average Assets, quarterly
  • $267,048Volatile liabilities
  • $268,042Insider loans
  • $216,791FHLB advances
  • $266,520Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $22,570Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $17,962Restructured Loans and leases
  • $8,112Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $11,705Total interest income
  • $4,025Total interest expense
  • $7,680Net interest income
  • $0Provision for loan and lease losses
  • $2,081Total noninterest income
  • $0Fiduciary activities
  • $106Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,975Additional noninterest income
  • $9,400Total noninterest expense
  • $5,885Salaries and employee benefits
  • $813Premises and equipment expense
  • $2,702Additional noninterest expense
  • $361Pre-tax net operating income
  • $333Securities gains (losses)
  • $294Applicable income taxes
  • $400Income before extraordinary items
  • $0Extraordinary gains - net
  • $400Net income attributable to bank
  • $0Net charge-offs
  • $400Cash dividends
  • $2,180Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.82%Yield on earning assets
  • 1.66%Cost of funding earning assets
  • 3.16%Net interest margin
  • 0.86%Noninterest income to earning assets
  • 3.87%Noninterest expense to earning assets
  • 0.07%Net operating income to assets
  • 0.15%Return on assets (ROA)
  • 0.26%Pretax return on assets
  • 1.70%Return on equity (ROE)
  • 1.70%Retained earnings to average equity (YTD only)
  • 1.12%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.17%Efficiency ratio
  • 95,666Assets per employee
  • 3.16%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.52%Loss allowance to noncurrent loans
  • 58.44%Noncurrent assets plus other real estate owned to assets
  • 7.19%Noncurrent loans to loans
  • 6.02%Net loans and leases to deposits
  • 84.15%Net loans and leases to core deposits
  • 98.97%Equity capital to assets
  • 9.21%Core capital (leverage) ratio
  • 8.47%Tier 1 risk-based capital ratio
  • 10.41%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $267,048Average earning assets
  • $23,581Average equity
  • $242,936Average loans

List of branches

  • 4 North Dakota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    08352Cornerstone Bank2280 45th Street South, Fargo, ND 58104July 15, 1907Full Service Brick and Mortar
    4456851Fargo Branch2627 South University Drive, Fargo, ND 58103November 06, 2006Full Service Brick and Mortar
    6480898Bismarck Branch600 South 2nd Street, Bismarck, ND 58504September 10, 2008Full Service Brick and Mortar
    8493027Bismarck 12th Street Branch2112 North 12th Street, Bismarck, ND 58504July 20, 2009Full Service Brick and Mortar

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