Cornerstone Bank in Wilson, North Carolina (NC)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Cornerstone Bank in Wilson, North Carolina (NC)
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Cornerstone Bank - Overview

  • General
  • FDIC Certificate #: 35284
    Status: Active
    Federal Reserve ID: 2895835
    Bank Holding Company (Regulatory Top Holder): Cb Financial Corporation (RSSDID: 3347564, Location: Wilson, NC)
    Date Established: March 15, 2000
    WWW: http://www.thecornerstonebank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 77673
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: March 15, 2000
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 3710 West Nash Street, Wilson, NC 27896
    County: Wilson
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Raleigh
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Core Based Statistical Area (CBSA): Wilson, NC (#48980)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $149.1 mil
    Equity capital: $3.9 mil
    Deposits held in domestic offices: $129.9 mil
    Return on assets (ROA): -0.44% (-$0.7 mil)
    Quarterly return on assets: -0.03% (-$0.0 mil)
    Return on Equity (ROE): -16.30% (-$0.7 mil)
    Quarterly return on equity: -1.31% (-$0.1 mil)
    Net income: -$0.7 mil
    Quarterly Net income: -$0.0 mil
    Pretax return on assets: -0.41% (-$611.2 mil)
    Quarterly Pretax return on assets: 0.24% ($357.7 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
  • 29Total employees (full-time equivalent)
  • $149,061Total assets
  • $22,341Cash and due from depository institutions
  • $20,083Interest-bearing balances
  • $35,707Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $78,577Net loans & leases
  • $3,670Loan loss allowance
  • $0Trading account assets
  • $2,530Bank premises and fixed assets
  • $3,847Other real estate owned
  • $0Goodwill and other intangibles
  • $149,061Life insurance assets
  • $6,059All other assets
  • $145,166Total liabilities and capital
  • $129,887Total liabilities
  • $116,515Total deposits
  • $129,887Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 515.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $14,000Trading liabilities
  • $0Other borrowed funds
  • $764Subordinated debt
  • $3,895All other liabilities
  • $3,895Total equity capital
  • $3,895Total bank equity capital
  • $0Perpetual preferred stock
  • $4,799Common stock
  • $9,547Surplus
  • $-10,451Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,418Income earned, not collected on loans
  • $0Earning assets
  • $467Long-term assets (5+ years)
  • $134,367Average Assets, year-to-date
  • $25,583Average Assets, quarterly
  • $157,111Volatile liabilities
  • $150,571Insider loans
  • $92,041FHLB advances
  • $150,992Loans and leases held for sale
  • $3,522Unused loan commitments
  • $2,953Tier 1 (core) risk-based capital
  • $3,650Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $569Total unused commitments
  • $15,943Restructured Loans and leases
  • $3,724Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,981Total interest income
  • $2,452Total interest expense
  • $3,529Net interest income
  • $567Provision for loan and lease losses
  • $267Total noninterest income
  • $0Fiduciary activities
  • $270Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$3Additional noninterest income
  • $4,554Total noninterest expense
  • $2,059Salaries and employee benefits
  • $318Premises and equipment expense
  • $2,177Additional noninterest expense
  • -$1,325Pre-tax net operating income
  • $675Securities gains (losses)
  • $46Applicable income taxes
  • -$696Income before extraordinary items
  • $0Extraordinary gains - net
  • -$696Net income attributable to bank
  • $0Net charge-offs
  • -$696Cash dividends
  • $1,290Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.24%Yield on earning assets
  • 1.74%Cost of funding earning assets
  • 2.50%Net interest margin
  • 0.19%Noninterest income to earning assets
  • 3.23%Noninterest expense to earning assets
  • -0.87%Net operating income to assets
  • -0.44%Return on assets (ROA)
  • -0.41%Pretax return on assets
  • -16.30%Return on equity (ROE)
  • -16.30%Retained earnings to average equity (YTD only)
  • 1.39%Net charge-offs to loans
  • 43.95%Credit loss provision to net charge-offs
  • -0.59%Efficiency ratio
  • 119,968Assets per employee
  • 5.14%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.46%Loss allowance to noncurrent loans
  • 49.47%Noncurrent assets plus other real estate owned to assets
  • 7.56%Noncurrent loans to loans
  • 9.02%Net loans and leases to deposits
  • 60.50%Net loans and leases to core deposits
  • 68.57%Equity capital to assets
  • 2.61%Core capital (leverage) ratio
  • 2.42%Tier 1 risk-based capital ratio
  • 3.97%Total risk-based capital ratio
  • Memoranda
  • $5Average assets
  • $157,111Average earning assets
  • $4,270Average equity
  • $140,940Average loans

List of branches

  • 2 North Carolina Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    077673Cornerstone Bank3710 West Nash Street, Wilson, NC 27896March 15, 2000Full Service Brick and Mortar
    2458826Wilson Mall Branch1435 Ward Boulevard, Wilson, NC 27893November 16, 2005Full Service Brick and Mortar

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