Cornerstone Community Bank in Saint Petersburg, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Cornerstone Community Bank in Saint Petersburg, Florida (FL)
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Cornerstone Community Bank - Overview

  • General
  • FDIC Certificate #: 34948
    Status: Active
    Federal Reserve ID: 2791076
    Bank Holding Company (Regulatory Top Holder): Cornerstone Bancorp, Inc. (RSSDID: 3466081, Location: Saint Petersburg, FL)
    Date Established: March 15, 1999
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    FDIC's unique #: 62122
    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, 1999
    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: 6300 4th Street North, Saint Petersburg, FL 33702
    County: Pinellas
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Tampa
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Tampa-St. Petersburg-Clearwater, FL (#8280)
    Core Based Statistical Area (CBSA): Tampa-St. Petersburg-Clearwater, FL (#45300)
    CBSA Metro Statistical Area: Tampa-St. Petersburg-Clearwater, FL (#45300)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $247.9 mil
    Equity capital: $23.6 mil
    Deposits held in domestic offices: $219.2 mil
    Return on assets (ROA): -0.09% (-$0.2 mil)
    Quarterly return on assets: -0.96% (-$2.4 mil)
    Return on Equity (ROE): -1.01% (-$0.2 mil)
    Quarterly return on equity: -10.17% (-$2.4 mil)
    Net income: -$0.2 mil
    Quarterly Net income: -$0.6 mil
    Pretax return on assets: -0.33% (-$818.1 mil)
    Quarterly Pretax return on assets: -1.82% (-$4,512.1 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
  • 58Total employees (full-time equivalent)
  • $247,919Total assets
  • $19,077Cash and due from depository institutions
  • $18,090Interest-bearing balances
  • $28,881Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $173,466Net loans & leases
  • $4,255Loan loss allowance
  • $0Trading account assets
  • $8,265Bank premises and fixed assets
  • $3,864Other real estate owned
  • $9Goodwill and other intangibles
  • $247,919Life insurance assets
  • $14,357All other assets
  • $224,309Total liabilities and capital
  • $219,221Total liabilities
  • $165,509Total deposits
  • $219,221Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,000Trading liabilities
  • $0Other borrowed funds
  • $1,088Subordinated debt
  • $23,610All other liabilities
  • $23,610Total equity capital
  • $23,610Total bank equity capital
  • $0Perpetual preferred stock
  • $5,818Common stock
  • $14,967Surplus
  • $2,825Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $9,310Income earned, not collected on loans
  • $0Earning assets
  • $969Long-term assets (5+ years)
  • $220,437Average Assets, year-to-date
  • $56,728Average Assets, quarterly
  • $262,889Volatile liabilities
  • $251,451Insider loans
  • $181,457FHLB advances
  • $248,524Loans and leases held for sale
  • $6,478Unused loan commitments
  • $5,169Tier 1 (core) risk-based capital
  • $19,134Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,309Total unused commitments
  • $11,692Restructured Loans and leases
  • $3,746Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $11,082Total interest income
  • $2,583Total interest expense
  • $8,499Net interest income
  • $1,971Provision for loan and lease losses
  • $136Total noninterest income
  • $0Fiduciary activities
  • $493Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$357Additional noninterest income
  • $7,851Total noninterest expense
  • $3,595Salaries and employee benefits
  • $1,023Premises and equipment expense
  • $3,233Additional noninterest expense
  • -$1,187Pre-tax net operating income
  • $313Securities gains (losses)
  • -$640Applicable income taxes
  • -$234Income before extraordinary items
  • $0Extraordinary gains - net
  • -$234Net income attributable to bank
  • $0Net charge-offs
  • -$234Cash dividends
  • $2,871Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.75%Yield on earning assets
  • 1.11%Cost of funding earning assets
  • 3.64%Net interest margin
  • 0.06%Noninterest income to earning assets
  • 3.37%Noninterest expense to earning assets
  • -0.17%Net operating income to assets
  • -0.09%Return on assets (ROA)
  • -0.33%Pretax return on assets
  • -1.01%Return on equity (ROE)
  • -1.01%Retained earnings to average equity (YTD only)
  • 1.49%Net charge-offs to loans
  • 68.65%Credit loss provision to net charge-offs
  • 0.27%Efficiency ratio
  • 90,712Assets per employee
  • 4.27%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.39%Loss allowance to noncurrent loans
  • 45.70%Noncurrent assets plus other real estate owned to assets
  • 5.31%Noncurrent loans to loans
  • 5.24%Net loans and leases to deposits
  • 79.13%Net loans and leases to core deposits
  • 80.75%Equity capital to assets
  • 9.52%Core capital (leverage) ratio
  • 7.70%Tier 1 risk-based capital ratio
  • 10.54%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $262,889Average earning assets
  • $23,277Average equity
  • $233,198Average loans

List of branches

  • 6 Florida Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    062122Cornerstone Community Bank6300 4th Street North, Saint Petersburg, FL 33702March 15, 1999Full Service Brick and Mortar
    1360427Central Avenue Branch6600 Central Avenue, Saint Petersburg, FL 33707June 04, 2001Full Service Brick and Mortar
    2366319Seminole Branch7800 Seminole Boulevard, Seminole, FL 33772Febuary 08, 2003Full Service Brick and Mortar
    3287948Walsingham Branch12933 Walsingham Road, Largo, FL 33774June 30, 1988Full Service Brick and Mortar
    4428143Northwest Branch5800 38th Avenue North, Saint Petersburg, FL 33710May 03, 2004Full Service Brick and Mortar
    7455374East Bay Branch3320 East Bay Drive, Largo, FL 33771July 28, 2006Full Service Brick and Mortar

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