Cornerstone Bank, Inc. in West Union, West Virginia (WV)



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Cornerstone Bank, Inc. routing number info

Table of contents:
Cornerstone Bank, Inc.
GeneralFDIC Certificate #: 10045
Status: Active
Federal Reserve ID: 978239
Bank Holding Company (Regulatory Top Holder): Cornerstone Financial Services, Inc. (RSSDID: 3217537, Location: West Union, WV)
Date Established: January 01, 1934
WWW: http://www.fnbwestunion.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 3 (Domestic: 3, Interstate: No)
FDIC's unique #: 6420
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: Other Specialized Lending < 1 Billion
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: December 01, 2006
Last Structure Change Process Date: December 18, 2006
Last Data Update: December 18, 2006
Data Source Date: April 05, 2012
LocationAddress: 101 West Main Street, West Union, WV 26456
County: Doddridge
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Scott Depot
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Combined Statistical Area (CSA): Fairmont-Clarksburg, WV (#242)
Core Based Statistical Area (CBSA): Clarksburg, WV (#17220)
CBSA Micro Statistical Area: Yes
History of ChangesChange in Location
Name Change
Change in Primary Regulatory Agency
Financial SummaryTotal assets: $94.2 mil
Equity capital: $14.4 mil
Deposits held in domestic offices: $78.8 mil
Return on assets (ROA): 1.02% ($1.0 mil)
Quarterly return on assets: 1.12% ($1.1 mil)
Return on Equity (ROE): 7.02% ($1.0 mil)
Quarterly return on equity: 7.44% ($1.0 mil)
Net income: $1.0 mil
Quarterly Net income: $0.3 mil
Pretax return on assets: 1.05% ($988.8 mil)
Quarterly Pretax return on assets: 0.92% ($866.3 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)27
Total assets$94,167
Cash and due from depository institutions$3,085
Interest-bearing balances$864
Securities$49,582
Federal funds sold & reverse repurchase agreements$4,660
Net loans & leases$31,975
Loan loss allowance $328
Trading account assets$0
Bank premises and fixed assets$932
Other real estate owned$447
Goodwill and other intangibles$0
All other assets$3,486
Life insurance assets$94,167
Total liabilities and capital$79,761
Total liabilities$78,806
Total deposits$61,352
Interest-bearing deposits$78,806
Deposits held in domestic offices$80
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $955
All other liabilities $14,406
Total equity capital$14,406
Total bank equity capital$14,406
Perpetual preferred stock$0
Common stock$500
Surplus$500
Undivided profits $13,406
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $117
Earning assets $0
Long-term assets (5+ years) $652
Average Assets, year-to-date $87,081
Average Assets, quarterly $58,442
Volatile liabilities $94,947
Insider loans $96,077
FHLB advances $48,472
Loans and leases held for sale $95,164
Unused loan commitments $2,447
Tier 1 (core) risk-based capital $2,447
Tier 2 risk-based capital $13,649
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $2,551
Derivatives$1,613
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $3,781
Total interest expense $940
Net interest income $2,841
Provision for loan and lease losses $0
Total noninterest income $217
Fiduciary activities $0
Service charges on deposit accounts $86
Trading account gains & fees $0
Additional noninterest income $131
Total noninterest expense $2,058
Salaries and employee benefits $1,073
Premises and equipment expense $229
Additional noninterest expense $756
Pre-tax net operating income $1,000
Securities gains (losses) $0
Applicable income taxes $36
Income before extraordinary items $964
Extraordinary gains - net $0
Net income attributable to bank $964
Net charge-offs $0
Cash dividends $964
Sale, conversion, retirement of capital stock, net -$15
Net operating income $150
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.31%
Cost of funding earning assets 1.07%
Net interest margin 3.24%
Noninterest income to earning assets 0.25%
Noninterest expense to earning assets 2.34%
Net operating income to assets 1.02%
Return on assets (ROA) 1.02%
Pretax return on assets 1.05%
Return on equity (ROE) 7.02%
Retained earnings to average equity (YTD only) 5.93%
Net charge-offs to loans -0.05%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$67,299
Cash dividends to net income (YTD only)3.49%
Condition Ratios (%)
Loss allowance to loans 15.56%
Loss allowance to noncurrent loans 1.02%
Noncurrent assets plus other real estate owned to assets 280.34%
Noncurrent loans to loans 0.60%
Net loans and leases to deposits0.36%
Net loans and leases to core deposits 40.57%
Equity capital to assets 59.21%
Core capital (leverage) ratio 15.30%
Tier 1 risk-based capital ratio 14.34%
Total risk-based capital ratio 28.16%
Memoranda
Average assets$29
Average earning assets$94,947
Average equity $13,731
Average loans $87,810
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3 West Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
06420Cornerstone Bank, Inc.101 West Main Street, West Union, WV 26456January 01, 1934Full Service Brick and Mortar
1221736Salem Branch150 West Main Street, Salem, WV 26426January 02, 1987Full Service Brick and Mortar
2221737Pennsboro BranchRoute Number 2, Pennsboro, WV 26415January 03, 1989Full Service Brick and Mortar
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