FDIC Certificate #: 35269 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:First Financial Bank (#28905) Federal Reserve ID: 2822363 Date Established: August 02, 1999 WWW:http://www.cornerstonebankms.com Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 2 (Interstate: No) FDIC's unique #: 77233 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: August 02, 1999 Last Structure Change Effective Date: May 16, 2006 Last Structure Change Process Date: May 23, 2006 Last Data Update: May 23, 2006 Data Source Date: April 05, 2012
Location
Address: 310 East Main, Senatobia, MS 38668 County: Tate Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Memphis Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Memphis, TN-MS-AR (#32820) CBSA Metro Statistical Area: Memphis, TN-MS-AR (#32820)
Financial Summary
Total assets: $44.0 mil
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2005)
Dollar figures in thousands
19Total employees (full-time equivalent)
$46,595Total assets
$2,726Cash and due from depository institutions
$8Interest-bearing balances
$2,056Securities
$6,615Federal funds sold & reverse repurchase agreements
$33,653Net loans & leases
$762Loan loss allowance
$0Trading account assets
$631Bank premises and fixed assets
$237Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$677All other assets
$46,595Total liabilities and capital
$42,565Total liabilities
$42,349Total deposits
$36,985Interest-bearing deposits
$42,349Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$0Subordinated debt
$216All other liabilities
$4,030Total equity capital
$4,030Total bank equity capital
$4,030Perpetual preferred stock
$0Common stock
$213Surplus
$5,108Undivided profits
Memoranda
$-1,291Noncurrent loans and leases
$2,884Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$219Earning assets
$0Long-term assets (5+ years)
$307Average Assets, year-to-date
$42,332Average Assets, quarterly
$0Volatile liabilities
$47,606Insider loans
$46,859FHLB advances
$13,201Loans and leases held for sale
$1,009Unused loan commitments
$0Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$2,884Total unused commitments
$0Restructured Loans and leases
$400Derivatives
Income and Expense (December 31, 2005)
Dollar figures in thousands
$2,693Total interest income
$981Total interest expense
$1,712Net interest income
$330Provision for loan and lease losses
$268Total noninterest income
$0Fiduciary activities
$228Service charges on deposit accounts
$0Trading account gains & fees
$40Additional noninterest income
$2,027Total noninterest expense
$1,019Salaries and employee benefits
$299Premises and equipment expense
$709Additional noninterest expense
-$377Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
-$377Income before extraordinary items
$0Extraordinary gains - net
-$377Net income attributable to bank
$0Net charge-offs
$0Cash dividends
$246Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2005)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.24%Yield on earning assets
2.27%Cost of funding earning assets
3.97%Net interest margin
0.62%Noninterest income to earning assets
4.70%Noninterest expense to earning assets
-0.79%Net operating income to assets
-0.79%Return on assets (ROA)
-0.79%Pretax return on assets
-8.86%Return on equity (ROE)
-8.86%Retained earnings to average equity (YTD only)
0.71%Net charge-offs to loans
134.15%Credit loss provision to net charge-offs
-0.19%Efficiency ratio
102,374Assets per employee
2.45%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
2.21%Loss allowance to noncurrent loans
347.95%Noncurrent assets plus other real estate owned to assets
0.98%Noncurrent loans to loans
0.64%Net loans and leases to deposits
79.47%Net loans and leases to core deposits
115.46%Equity capital to assets
8.65%Core capital (leverage) ratio
8.63%Tier 1 risk-based capital ratio
12.86%Total risk-based capital ratio
Memoranda
$14Average assets
$47,606Average earning assets
$4,254Average equity
$43,147Average loans
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