CornerstoneBank in Atlanta, Georgia (GA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • CornerstoneBank in Atlanta, Georgia (GA)
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CornerstoneBank - Overview

  • General
  • FDIC Certificate #: 35027
    Status: Active
    Federal Reserve ID: 2992501
    Date Established: Febuary 20, 2001
    WWW: http://www.cornerstonebankga.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 15682
    FDIC's unique #: 73851
    Numeric code: 33
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: 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 20, 2001
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 2060 Mount Paran Road, Northwest, Suite 100, Atlanta, GA 30327
    County: Fulton
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Atlanta
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Atlanta, GA (#520)
    Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122)
    Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060)
    CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $408.0 mil
    Equity capital: $18.7 mil
    Deposits held in domestic offices: $347.4 mil
    Return on assets (ROA): -0.60% (-$2.4 mil)
    Quarterly return on assets: -3.31% (-$13.5 mil)
    Return on Equity (ROE): -11.83% (-$2.2 mil)
    Quarterly return on equity: -66.91% (-$12.7 mil)
    Net income: -$2.7 mil
    Quarterly Net income: -$3.5 mil
    Pretax return on assets: -0.60% (-$2,447.8 mil)
    Quarterly Pretax return on assets: -3.31% (-$13,503.8 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)
  • $407,970Total assets
  • $53,633Cash and due from depository institutions
  • $53,207Interest-bearing balances
  • $74,177Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $257,843Net loans & leases
  • $4,402Loan loss allowance
  • $0Trading account assets
  • $1,537Bank premises and fixed assets
  • $14,562Other real estate owned
  • $717Goodwill and other intangibles
  • $407,970Life insurance assets
  • $5,501All other assets
  • $389,295Total liabilities and capital
  • $347,430Total liabilities
  • $317,578Total deposits
  • $347,430Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 13378.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $25,000Trading liabilities
  • $1,000Other borrowed funds
  • $2,487Subordinated debt
  • $18,675All other liabilities
  • $18,675Total equity capital
  • $18,675Total bank equity capital
  • $0Perpetual preferred stock
  • $8,693Common stock
  • $32,507Surplus
  • $-22,525Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $13,771Income earned, not collected on loans
  • $377Earning assets
  • $1,287Long-term assets (5+ years)
  • $385,227Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $452,259Volatile liabilities
  • $417,641Insider loans
  • $267,745FHLB advances
  • $408,887Loans and leases held for sale
  • $26Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $19,592Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $35,577Restructured Loans and leases
  • $575Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $17,304Total interest income
  • $6,776Total interest expense
  • $10,528Net interest income
  • $5,145Provision for loan and lease losses
  • $4,994Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,994Additional noninterest income
  • $13,090Total noninterest expense
  • $5,371Salaries and employee benefits
  • $1,827Premises and equipment expense
  • $5,892Additional noninterest expense
  • -$2,713Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • -$2,713Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,713Net income attributable to bank
  • $0Net charge-offs
  • -$2,713Cash dividends
  • $5,920Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.03%Yield on earning assets
  • 1.58%Cost of funding earning assets
  • 2.45%Net interest margin
  • 1.16%Noninterest income to earning assets
  • 3.05%Noninterest expense to earning assets
  • -0.60%Net operating income to assets
  • -0.60%Return on assets (ROA)
  • -0.60%Pretax return on assets
  • -11.83%Return on equity (ROE)
  • -11.83%Retained earnings to average equity (YTD only)
  • 2.07%Net charge-offs to loans
  • 86.91%Credit loss provision to net charge-offs
  • 0.41%Efficiency ratio
  • 84,332Assets per employee
  • 7.03%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.68%Loss allowance to noncurrent loans
  • 31.97%Noncurrent assets plus other real estate owned to assets
  • 6.94%Noncurrent loans to loans
  • 5.25%Net loans and leases to deposits
  • 74.21%Net loans and leases to core deposits
  • 79.23%Equity capital to assets
  • 4.58%Core capital (leverage) ratio
  • 4.79%Tier 1 risk-based capital ratio
  • 7.32%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $452,259Average earning assets
  • $22,938Average equity
  • $428,923Average loans

List of branches

  • 3 Georgia Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    073851Cornerstonebank2060 Mount Paran Road, Northwest, Suite 100, Atlanta, GA 30327Febuary 20, 2001Full Service Brick and Mortar
    1463733Roswell Road Branch6344 Roswell Road, Sandy Springs, GA 30328June 30, 2006Full Service Brick and Mortar
    2518508Decatur Branch125 Clairemont Ave, Decatur, GA 30030Febuary 01, 2009Full Service Brick and Mortar

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