Cornerstone Community Bank in Chattanooga, Tennessee (TN), GA
Overview, Financial Summary, Detailed Financial Reports, Branches

Cornerstone Community Bank - Overview

  • General
  • FDIC Certificate #: 26256
    Status: Active
    Federal Reserve ID: 2398596
    Bank Holding Company (Regulatory Top Holder): Cornerstone Bancshares, Inc. (RSSDID: 1131497, Location: Chattanooga, TN)
    Date Established: May 28, 1985
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 7 (Domestic: 7, Interstate: Yes)
    FDIC's unique #: 32612
    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: May 28, 1985
    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: 835 Georgia Avenue, Chattanooga, TN 37401
    County: Hamilton
    Quarterly Banking Profile Region: Dallas
    FDIC Geographic Region: Dallas
    FDIC Supervisory Region: Dallas
    FDIC Field Office: Knoxville
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Chattanooga, TN-GA (#1560)
    Combined Statistical Area (CSA): Chattanooga-Cleveland-Athens, TN-GA (#174)
    Core Based Statistical Area (CBSA): Chattanooga, TN-GA (#16860)
    CBSA Metro Statistical Area: Chattanooga, TN-GA (#16860)
  • History of Changes
  • Corrections
    Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $423.1 mil
    Equity capital: $35.3 mil
    Deposits held in domestic offices: $317.5 mil
    Return on assets (ROA): 0.32% ($1.4 mil)
    Quarterly return on assets: 0.17% ($0.7 mil)
    Return on Equity (ROE): 4.56% ($1.6 mil)
    Quarterly return on equity: 2.16% ($0.8 mil)
    Net income: $1.4 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.41% ($1,734.7 mil)
    Quarterly Pretax return on assets: 0.16% ($676.9 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
  • 109Total employees (full-time equivalent)
  • $423,088Total assets
  • $38,882Cash and due from depository institutions
  • $37,222Interest-bearing balances
  • $86,126Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $260,365Net loans & leases
  • $7,400Loan loss allowance
  • $0Trading account assets
  • $5,712Bank premises and fixed assets
  • $18,524Other real estate owned
  • $22Goodwill and other intangibles
  • $423,088Life insurance assets
  • $13,457All other assets
  • $387,779Total liabilities and capital
  • $317,462Total liabilities
  • $270,052Total deposits
  • $317,462Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 29391.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $40,000Trading liabilities
  • $0Other borrowed funds
  • $926Subordinated debt
  • $35,309All other liabilities
  • $35,309Total equity capital
  • $35,309Total bank equity capital
  • $0Perpetual preferred stock
  • $590Common stock
  • $23,045Surplus
  • $11,674Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $467Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,882Income earned, not collected on loans
  • $67Earning assets
  • $1,327Long-term assets (5+ years)
  • $383,713Average Assets, year-to-date
  • $70,850Average Assets, quarterly
  • $435,308Volatile liabilities
  • $424,071Insider loans
  • $285,944FHLB advances
  • $417,140Loans and leases held for sale
  • $1,167Unused loan commitments
  • $1,167Tier 1 (core) risk-based capital
  • $33,536Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $24,972Restructured Loans and leases
  • $1,561Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $20,493Total interest income
  • $6,143Total interest expense
  • $14,350Net interest income
  • $445Provision for loan and lease losses
  • $307Total noninterest income
  • $0Fiduciary activities
  • $539Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$232Additional noninterest income
  • $12,522Total noninterest expense
  • $6,017Salaries and employee benefits
  • $1,431Premises and equipment expense
  • $5,074Additional noninterest expense
  • $1,690Pre-tax net operating income
  • $107Securities gains (losses)
  • $410Applicable income taxes
  • $1,387Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,387Net income attributable to bank
  • $0Net charge-offs
  • $1,387Cash dividends
  • $2,177Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.16%Yield on earning assets
  • 1.55%Cost of funding earning assets
  • 3.61%Net interest margin
  • 0.08%Noninterest income to earning assets
  • 3.15%Noninterest expense to earning assets
  • 0.30%Net operating income to assets
  • 0.32%Return on assets (ROA)
  • 0.41%Pretax return on assets
  • 4.56%Return on equity (ROE)
  • 4.56%Retained earnings to average equity (YTD only)
  • 0.80%Net charge-offs to loans
  • 20.44%Credit loss provision to net charge-offs
  • 0.98%Efficiency ratio
  • 85,434Assets per employee
  • 3.88%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.76%Loss allowance to noncurrent loans
  • 93.88%Noncurrent assets plus other real estate owned to assets
  • 6.24%Noncurrent loans to loans
  • 2.94%Net loans and leases to deposits
  • 82.01%Net loans and leases to core deposits
  • 84.38%Equity capital to assets
  • 8.35%Core capital (leverage) ratio
  • 8.04%Tier 1 risk-based capital ratio
  • 11.73%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $435,308Average earning assets
  • $30,402Average equity
  • $397,270Average loans

List of branches

  • 2 Georgia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    8457566Cornerstone Community Bank Loan Prod202 West Cradford Street, Suite A, Dalton, GA 30721December 21, 2006Limited Service Loan Production
    12466900Dalton Lpo Branch202 West Crawford Street, Suite A, Dalton, GA 30720January 15, 2007Full Service Retail
  • 5 Tennessee Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    032612Cornerstone Community Bank835 Georgia Avenue, Chattanooga, TN 37401May 28, 1985Full Service Brick and Mortar
    3258651Gunbarrel Road Branch2280 Gunbarrel Road, Chattanooga, TN 37421December 02, 1992Full Service Brick and Mortar
    6258652East Ridge Branch4154 Ringgold Road, East Ridge, TN 37412October 15, 1997Full Service Brick and Mortar
    7430165Ooltewah Branch8966 Old Lee Highway, Ooltewah, TN 37363June 01, 2004Full Service Brick and Mortar
    13479869Hixson Branch5319 Highway 153, Hixson, TN 37343July 01, 2007Full Service Brick and Mortar

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