Cornerstone State Bank in Montgomery, Minnesota (MN)
Overview, Financial Summary, Detailed Financial Reports, Branches


Cornerstone State Bank - Overview

  • General
  • FDIC Certificate #: 21525
    Status: Active
    Federal Reserve ID: 914853
    Bank Holding Company (Regulatory Top Holder): Cornerstone Bancorporation, Inc. (RSSDID: 1125423, Location: Le Sueur, MN)
    Date Established: April 08, 1974
    WWW: http://www.cornerstonestatebank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 14276
    FDIC's unique #: 14886
    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: April 08, 1974
    Last Structure Change Effective Date: August 30, 2010
    Last Structure Change Process Date: August 30, 2010
    Last Data Update: August 30, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 401 Fourth St Nw, Montgomery, MN 56069
    County: Le Sueur
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Mankato
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • Financial Summary
  • Total assets: $116.7 mil
    Equity capital: $11.9 mil
    Deposits held in domestic offices: $104.4 mil
    Return on assets (ROA): 0.77% ($0.9 mil)
    Quarterly return on assets: 1.29% ($1.5 mil)
    Return on Equity (ROE): 8.00% ($1.0 mil)
    Quarterly return on equity: 12.89% ($1.5 mil)
    Net income: $0.9 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.27% ($1,481.9 mil)
    Quarterly Pretax return on assets: 1.79% ($2,088.6 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
  • 31Total employees (full-time equivalent)
  • $116,683Total assets
  • $6,358Cash and due from depository institutions
  • $3,625Interest-bearing balances
  • $20,007Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $82,177Net loans & leases
  • $1,762Loan loss allowance
  • $0Trading account assets
  • $4,367Bank premises and fixed assets
  • $480Other real estate owned
  • $388Goodwill and other intangibles
  • $116,683Life insurance assets
  • $2,906All other assets
  • $104,796Total liabilities and capital
  • $104,409Total liabilities
  • $92,155Total deposits
  • $104,409Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $387Subordinated debt
  • $11,887All other liabilities
  • $11,887Total equity capital
  • $11,887Total bank equity capital
  • $0Perpetual preferred stock
  • $813Common stock
  • $6,687Surplus
  • $4,387Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,096Income earned, not collected on loans
  • $0Earning assets
  • $478Long-term assets (5+ years)
  • $105,809Average Assets, year-to-date
  • $16,189Average Assets, quarterly
  • $118,550Volatile liabilities
  • $118,114Insider loans
  • $100,913FHLB advances
  • $120,192Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $11,003Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,923Restructured Loans and leases
  • $145Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,906Total interest income
  • $990Total interest expense
  • $4,916Net interest income
  • $860Provision for loan and lease losses
  • $471Total noninterest income
  • $0Fiduciary activities
  • $269Service charges on deposit accounts
  • $0Trading account gains & fees
  • $202Additional noninterest income
  • $3,358Total noninterest expense
  • $1,925Salaries and employee benefits
  • $433Premises and equipment expense
  • $1,000Additional noninterest expense
  • $1,169Pre-tax net operating income
  • $342Securities gains (losses)
  • $600Applicable income taxes
  • $911Income before extraordinary items
  • $0Extraordinary gains - net
  • $911Net income attributable to bank
  • $0Net charge-offs
  • $911Cash dividends
  • $585Sale, conversion, retirement of capital stock, net
  • $500Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.51%Yield on earning assets
  • 0.92%Cost of funding earning assets
  • 4.59%Net interest margin
  • 0.44%Noninterest income to earning assets
  • 3.13%Noninterest expense to earning assets
  • 0.58%Net operating income to assets
  • 0.77%Return on assets (ROA)
  • 1.27%Pretax return on assets
  • 8.00%Return on equity (ROE)
  • 3.61%Retained earnings to average equity (YTD only)
  • 0.70%Net charge-offs to loans
  • 147.01%Credit loss provision to net charge-offs
  • 3.47%Efficiency ratio
  • 61,110Assets per employee
  • 3.76%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 54.88%Loss allowance to loans
  • 2.10%Loss allowance to noncurrent loans
  • 84.06%Noncurrent assets plus other real estate owned to assets
  • 2.21%Noncurrent loans to loans
  • 2.50%Net loans and leases to deposits
  • 78.71%Net loans and leases to core deposits
  • 81.32%Equity capital to assets
  • 10.19%Core capital (leverage) ratio
  • 9.15%Tier 1 risk-based capital ratio
  • 10.90%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $118,550Average earning assets
  • $11,393Average equity
  • $107,181Average loans

List of branches

  • 5 Minnesota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    014886Cornerstone State Bank401 Fourth St Nw, Montgomery, MN 56069April 08, 1974Full Service Brick and Mortar
    1440421516 Cloquet Avenue Branch1516 Cloquet Avenue, Cloquet, MN 55720January 01, 1958Full Service Brick and Mortar
    256265Belle Plaine Branch406 Poplar Street, Belle Plaine, MN 56011January 22, 1996Full Service Brick and Mortar
    3290404Green Isle Branch451 Third Street, Green Isle, MN 55338September 22, 1997Full Service Brick and Mortar
    4488808Le Sueur Branch415 North Main St, Le Sueur, MN 56058August 01, 2008Full Service Brick and Mortar

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