Cornerstone Bank in Fargo, North Dakota (ND)



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Cornerstone Bank routing number info

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Cornerstone Bank
GeneralFDIC 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
WWW: http://www.cornerstonebanks.net
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
LocationAddress: 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 SummaryTotal 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)
Total employees (full-time equivalent)84
Total assets$265,833
Cash and due from depository institutions$26,034
Interest-bearing balances$23,261
Securities$31,790
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$187,087
Loan loss allowance $6,819
Trading account assets$0
Bank premises and fixed assets$7,992
Other real estate owned$7,436
Goodwill and other intangibles$244
All other assets$5,250
Life insurance assets$265,833
Total liabilities and capital$241,359
Total liabilities$222,330
Total deposits$208,572
Interest-bearing deposits$222,330
Deposits held in domestic offices$93
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$18,121
Other borrowed funds $0
Subordinated debt $908
All other liabilities $24,474
Total equity capital$24,474
Total bank equity capital$24,474
Perpetual preferred stock$0
Common stock$100
Surplus$27,902
Undivided profits $-3,528
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $6,504
Income earned, not collected on loans $11,668
Earning assets $4
Long-term assets (5+ years) $1,006
Average Assets, year-to-date $242,138
Average Assets, quarterly $40,576
Volatile liabilities $267,048
Insider loans $268,042
FHLB advances $216,791
Loans and leases held for sale $266,520
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $22,570
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $17,962
Derivatives$8,112
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $11,705
Total interest expense $4,025
Net interest income $7,680
Provision for loan and lease losses $0
Total noninterest income $2,081
Fiduciary activities $0
Service charges on deposit accounts $106
Trading account gains & fees $0
Additional noninterest income $1,975
Total noninterest expense $9,400
Salaries and employee benefits $5,885
Premises and equipment expense $813
Additional noninterest expense $2,702
Pre-tax net operating income $361
Securities gains (losses) $333
Applicable income taxes $294
Income before extraordinary items $400
Extraordinary gains - net $0
Net income attributable to bank $400
Net charge-offs $0
Cash dividends $400
Sale, conversion, retirement of capital stock, net $2,180
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.82%
Cost of funding earning assets 1.66%
Net interest margin 3.16%
Noninterest income to earning assets 0.86%
Noninterest expense to earning assets 3.87%
Net operating income to assets 0.07%
Return on assets (ROA) 0.15%
Pretax return on assets 0.26%
Return on equity (ROE) 1.70%
Retained earnings to average equity (YTD only) 1.70%
Net charge-offs to loans 1.12%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.17%
Assets per employee$95,666
Cash dividends to net income (YTD only)3.16%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 3.52%
Noncurrent assets plus other real estate owned to assets 58.44%
Noncurrent loans to loans 7.19%
Net loans and leases to deposits6.02%
Net loans and leases to core deposits 84.15%
Equity capital to assets 98.97%
Core capital (leverage) ratio 9.21%
Tier 1 risk-based capital ratio 8.47%
Total risk-based capital ratio 10.41%
Memoranda
Average assets$12
Average earning assets$267,048
Average equity $23,581
Average loans $242,936
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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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