FDIC Certificate #: 58859 Status: Active Federal Reserve ID: 3816163 Date Established: Febuary 17, 2009 WWW:http://www.cornerstonebankva.com Trust Powers Granted: No Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 1 (Domestic: 1, Interstate: No) FDIC's unique #: 470827 Numeric code: 3 Regulator: OCC 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: No Subchapter S Corporations: No Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: Febuary 17, 2009 Last Structure Change Effective Date: Febuary 17, 2009 Last Structure Change Process Date: Febuary 18, 2009 Last Data Update: Febuary 18, 2009 Data Source Date: April 05, 2012
Location
Address: 457 E. Nelson Street, Lexington, VA 24450 County: Rockbridge Quarterly Banking Profile Region: Atlanta FDIC Geographic Region: Atlanta FDIC Supervisory Region: Atlanta FDIC Field Office: Richmond Office of the Comptroller the Currency (OCC) District: Northeast Office of Thrift Supervision Region: Southeast
History of Changes
Change in Geographic Region/Area/Territory/Field Office
New Institution
Financial Summary
Total assets: $77.9 mil Equity capital: $8.8 mil Deposits held in domestic offices: $69.0 mil Return on assets (ROA): 1.50% ($1.2 mil) Quarterly return on assets: 4.29% ($3.3 mil) Return on Equity (ROE): 12.93% ($1.2 mil) Quarterly return on equity: 38.34% ($3.5 mil) Net income: $1.0 mil Quarterly Net income: $0.8 mil Pretax return on assets: 0.68% ($530.0 mil) Quarterly Pretax return on assets: 1.26% ($982.1 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ 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
19Total employees (full-time equivalent)
$77,941Total assets
$8,649Cash and due from depository institutions
$7,473Interest-bearing balances
$1,500Securities
$0Federal funds sold & reverse repurchase agreements
$62,651Net loans & leases
$896Loan loss allowance
$0Trading account assets
$3,459Bank premises and fixed assets
$423Other real estate owned
$0Goodwill and other intangibles
$77,941Life insurance assets
$1,259All other assets
$69,166Total liabilities and capital
$68,973Total liabilities
$61,710Total deposits
$68,973Interest-bearing deposits
$91Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$193Subordinated debt
$8,775All other liabilities
$8,775Total equity capital
$8,775Total bank equity capital
$0Perpetual preferred stock
$4,720Common stock
$4,583Surplus
$-528Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$211Long-term assets (5+ years)
$71,624Average Assets, year-to-date
$29,234Average Assets, quarterly
$68,733Volatile liabilities
$74,715Insider loans
$63,006FHLB advances
$74,804Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$8,485Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$5,757Restructured Loans and leases
$5,751Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$3,513Total interest income
$854Total interest expense
$2,659Net interest income
$289Provision for loan and lease losses
$322Total noninterest income
$0Fiduciary activities
$34Service charges on deposit accounts
$0Trading account gains & fees
$288Additional noninterest income
$2,226Total noninterest expense
$1,100Salaries and employee benefits
$356Premises and equipment expense
$770Additional noninterest expense
$466Pre-tax net operating income
$0Securities gains (losses)
-$566Applicable income taxes
$1,032Income before extraordinary items
$0Extraordinary gains - net
$1,032Net income attributable to bank
$0Net charge-offs
$1,032Cash dividends
$3Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.60%Yield on earning assets
1.36%Cost of funding earning assets
4.24%Net interest margin
0.51%Noninterest income to earning assets
3.55%Noninterest expense to earning assets
1.50%Net operating income to assets
1.50%Return on assets (ROA)
0.68%Pretax return on assets
12.93%Return on equity (ROE)
12.93%Retained earnings to average equity (YTD only)
0.01%Net charge-offs to loans
9633.33%Credit loss provision to net charge-offs
251.67%Efficiency ratio
74,673Assets per employee
4.10%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.41%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.54%Noncurrent loans to loans
0.00%Net loans and leases to deposits
90.83%Net loans and leases to core deposits
103.19%Equity capital to assets
11.26%Core capital (leverage) ratio
11.34%Tier 1 risk-based capital ratio
13.47%Total risk-based capital ratio
Memoranda
$15Average assets
$68,733Average earning assets
$7,979Average equity
$62,772Average loans
List of branches
1 Virginia Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
470827
Cornerstone Bank, N. A.
457 E. Nelson Street, Lexington, VA 24450
Febuary 17, 2009
Full Service Brick and Mortar
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