First CornerStone Bank in King Of Prussia, Pennsylvania (PA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • First CornerStone Bank in King Of Prussia, Pennsylvania (PA)
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First CornerStone Bank routing number info

First CornerStone Bank - Overview

  • General
  • FDIC Certificate #: 35312
    Status: Active
    Federal Reserve ID: 2897754
    Date Established: March 20, 2000
    WWW: http://www.firstcornerstone.com
    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 #: 77702
    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 20, 2000
    Last Structure Change Effective Date: September 01, 2006
    Last Structure Change Process Date: September 01, 2006
    Last Data Update: September 01, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 1004 West Ninth Avenue, King Of Prussia, PA 19406
    County: Montgomery
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Philadelphia
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Philadelphia, PA-NJ (#6160)
    Consolidated Metropolitan Statistical Area (CMSA): Philadelphia-Wilmington-Atlantic City, PA-NJ-DE-MD (#77)
    Combined Statistical Area (CSA): Philadelphia-Camden-Vineland, PA-NJ-DE-MD (#428)
    Core Based Statistical Area (CBSA): Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
    CBSA Metro Statistical Area: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (#37980)
    Core Based Statistical Division: Philadelphia, PA (#37964)
  • Financial Summary
  • Total assets: $160.5 mil
    Equity capital: $6.8 mil
    Deposits held in domestic offices: $147.8 mil
    Return on assets (ROA): -3.76% (-$6.1 mil)
    Quarterly return on assets: -10.80% (-$17.4 mil)
    Return on Equity (ROE): -58.18% (-$4.1 mil)
    Quarterly return on equity: -197.66% (-$13.8 mil)
    Net income: -$6.6 mil
    Quarterly Net income: -$4.5 mil
    Pretax return on assets: -3.56% (-$5,714.3 mil)
    Quarterly Pretax return on assets: -9.95% (-$15,971.1 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
  • 31Total employees (full-time equivalent)
  • $160,514Total assets
  • $15,293Cash and due from depository institutions
  • $14,599Interest-bearing balances
  • $24,687Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $110,041Net loans & leases
  • $1,784Loan loss allowance
  • $0Trading account assets
  • $1,300Bank premises and fixed assets
  • $6,540Other real estate owned
  • $0Goodwill and other intangibles
  • $160,514Life insurance assets
  • $2,653All other assets
  • $153,713Total liabilities and capital
  • $147,759Total liabilities
  • $141,442Total deposits
  • $147,759Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,000Trading liabilities
  • $0Other borrowed funds
  • $954Subordinated debt
  • $6,801All other liabilities
  • $6,801Total equity capital
  • $6,801Total bank equity capital
  • $0Perpetual preferred stock
  • $5,191Common stock
  • $15,315Surplus
  • $-13,705Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $18,119Income earned, not collected on loans
  • $0Earning assets
  • $672Long-term assets (5+ years)
  • $149,327Average Assets, year-to-date
  • $21,733Average Assets, quarterly
  • $176,380Volatile liabilities
  • $167,410Insider loans
  • $112,305FHLB advances
  • $165,491Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $6,662Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $1,895Restructured Loans and leases
  • $668Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,460Total interest income
  • $3,139Total interest expense
  • $4,321Net interest income
  • $2,894Provision for loan and lease losses
  • -$2,227Total noninterest income
  • $0Fiduciary activities
  • $41Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$2,268Additional noninterest income
  • $5,731Total noninterest expense
  • $2,219Salaries and employee benefits
  • $1,268Premises and equipment expense
  • $2,244Additional noninterest expense
  • -$6,531Pre-tax net operating income
  • $254Securities gains (losses)
  • $357Applicable income taxes
  • -$6,634Income before extraordinary items
  • $0Extraordinary gains - net
  • -$6,634Net income attributable to bank
  • $0Net charge-offs
  • -$6,634Cash dividends
  • $2,954Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.57%Yield on earning assets
  • 1.92%Cost of funding earning assets
  • 2.64%Net interest margin
  • -1.36%Noninterest income to earning assets
  • 3.51%Noninterest expense to earning assets
  • -3.91%Net operating income to assets
  • -3.76%Return on assets (ROA)
  • -3.56%Pretax return on assets
  • -58.18%Return on equity (ROE)
  • -58.18%Retained earnings to average equity (YTD only)
  • 2.43%Net charge-offs to loans
  • 97.97%Credit loss provision to net charge-offs
  • -1.23%Efficiency ratio
  • 273,687Assets per employee
  • 5.18%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.60%Loss allowance to noncurrent loans
  • 9.85%Noncurrent assets plus other real estate owned to assets
  • 15.36%Noncurrent loans to loans
  • 16.20%Net loans and leases to deposits
  • 74.47%Net loans and leases to core deposits
  • 76.20%Equity capital to assets
  • 4.24%Core capital (leverage) ratio
  • 4.03%Tier 1 risk-based capital ratio
  • 5.93%Total risk-based capital ratio
  • Memoranda
  • $7Average assets
  • $176,380Average earning assets
  • $11,402Average equity
  • $163,375Average loans

List of branches

  • 6 Pennsylvania Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    077702First Cornerstone Bank1004 West Ninth Avenue, King Of Prussia, PA 19406March 20, 2000Full Service Brick and Mortar
    1439656Ridley Park Branch Office160 Morton Avenue, Ridley Park, PA 19078December 13, 2004Full Service Brick and Mortar
    2443462Media Branch2 West Balitmore Ave, Media, PA 19063June 25, 2001Full Service Brick and Mortar
    3454732Phoenixville Branch368 Schuylkill Road, Phoenixville, PA 19460June 28, 2006Full Service Brick and Mortar
    4480315Malvern Branch83 Lancaster Avenue, Malvern, PA 19355July 08, 2008Full Service Brick and Mortar
    5516211Chadds Ford Branch51 Woodland Drive, Glen Mills, PA 19342January 24, 2011Full Service Brick and Mortar

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