FDIC Certificate #: 14313 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Cornerstone Bank (#5496) Federal Reserve ID: 435152 Date Established: May 18, 1930 Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Interstate: No) OTS Docket #: 15903 FDIC's unique #: 8940 Numeric code: 21 Regulator: FDIC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes State Chartered: Yes Date of Deposit Insurance: May 01, 1934 Last Structure Change Effective Date: April 01, 2010 Last Structure Change Process Date: April 09, 2010 Last Data Update: April 09, 2010 Data Source Date: April 05, 2012
Location
Address: 302 North Clay Avenue, Harvard, NE 68944 County: Clay Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Grand Island Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): Hastings, NE (#25580) CBSA Micro Statistical Area: Yes
Financial Summary
Total assets: $36.3 mil
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2009)
Dollar figures in thousands
7Total employees (full-time equivalent)
$39,691Total assets
$2,011Cash and due from depository institutions
$87Interest-bearing balances
$2,561Securities
$700Federal funds sold & reverse repurchase agreements
$32,454Net loans & leases
$313Loan loss allowance
$0Trading account assets
$39Bank premises and fixed assets
$311Other real estate owned
$0Goodwill and other intangibles
$0Life insurance assets
$1,615All other assets
$39,691Total liabilities and capital
$34,857Total liabilities
$30,174Total deposits
$27,269Interest-bearing deposits
$30,174Deposits held in domestic offices
95.30%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$4,210Other borrowed funds
$0Subordinated debt
$473All other liabilities
$4,834Total equity capital
$4,834Total bank equity capital
$4,834Perpetual preferred stock
$0Common stock
$200Surplus
$3,400Undivided profits
Memoranda
$1,234Noncurrent loans and leases
$8,272Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$352Earning assets
$0Long-term assets (5+ years)
$877Average Assets, year-to-date
$35,802Average Assets, quarterly
$2,014Volatile liabilities
$37,674Insider loans
$40,116FHLB advances
$2,096Loans and leases held for sale
$25Unused loan commitments
$4,210Tier 1 (core) risk-based capital
$0Tier 2 risk-based capital
$0Total risk weighted assets
$8,272Total unused commitments
$0Restructured Loans and leases
$313Derivatives
Income and Expense (December 31, 2009)
Dollar figures in thousands
$2,169Total interest income
$624Total interest expense
$1,545Net interest income
$0Provision for loan and lease losses
$147Total noninterest income
$0Fiduciary activities
$101Service charges on deposit accounts
$0Trading account gains & fees
$46Additional noninterest income
$1,190Total noninterest expense
$642Salaries and employee benefits
$71Premises and equipment expense
$477Additional noninterest expense
$502Pre-tax net operating income
$0Securities gains (losses)
$179Applicable income taxes
$323Income before extraordinary items
$0Extraordinary gains - net
$323Net income attributable to bank
$0Net charge-offs
$323Cash dividends
$42Sale, conversion, retirement of capital stock, net
$210Net operating income
Performance and Condition Ratios (December 31, 2009)
Dollar figures in thousands
Performance Ratios (%, annualized)
6.30%Yield on earning assets
1.81%Cost of funding earning assets
4.49%Net interest margin
0.43%Noninterest income to earning assets
3.46%Noninterest expense to earning assets
0.86%Net operating income to assets
0.86%Return on assets (ROA)
1.33%Pretax return on assets
6.72%Return on equity (ROE)
2.35%Retained earnings to average equity (YTD only)
0.13%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
11.95%Efficiency ratio
70,331Assets per employee
5.67%Cash dividends to net income (YTD only)
Condition Ratios (%)
65.02%Loss allowance to loans
0.96%Loss allowance to noncurrent loans
88.92%Noncurrent assets plus other real estate owned to assets
1.67%Noncurrent loans to loans
1.07%Net loans and leases to deposits
107.56%Net loans and leases to core deposits
115.59%Equity capital to assets
12.18%Core capital (leverage) ratio
12.29%Tier 1 risk-based capital ratio
13.79%Total risk-based capital ratio
Memoranda
$15Average assets
$37,674Average earning assets
$4,808Average equity
$34,410Average loans
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