FDIC Certificate #: 14573 Status: Active Federal Reserve ID: 625449 Bank Holding Company (Regulatory Top Holder): Cornerstone Financial Services Group, Inc. (RSSDID: 1142372, Location: Ottumwa, IA) Date Established: May 31, 1934 WWW:http://www.wlsb-ia.com Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 12571 FDIC's unique #: 9107 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: Yes Asset Concentration Hierarchy: Mortgage Lending Specialization Date of Deposit Insurance: June 01, 1934 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012
Location
Address: 101 East Fourth Street, West Liberty, IA 52776 County: Muscatine Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Cedar Rapids Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western Core Based Statistical Area (CBSA): Muscatine, IA (#34700) CBSA Micro Statistical Area: Yes
History of Changes
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $79.0 mil Equity capital: $11.5 mil Deposits held in domestic offices: $62.9 mil Return on assets (ROA): 0.77% ($0.6 mil) Quarterly return on assets: 0.79% ($0.6 mil) Return on Equity (ROE): 5.22% ($0.6 mil) Quarterly return on equity: 5.22% ($0.6 mil) Net income: $0.6 mil Quarterly Net income: $0.2 mil Pretax return on assets: 0.81% ($639.8 mil) Quarterly Pretax return on assets: 0.81% ($639.8 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
14Total employees (full-time equivalent)
$78,987Total assets
$3,499Cash and due from depository institutions
$0Interest-bearing balances
$47,134Securities
$0Federal funds sold & reverse repurchase agreements
$22,784Net loans & leases
$660Loan loss allowance
$0Trading account assets
$1,256Bank premises and fixed assets
$300Other real estate owned
$2,751Goodwill and other intangibles
$78,987Life insurance assets
$1,263All other assets
$67,472Total liabilities and capital
$62,909Total liabilities
$53,261Total deposits
$62,909Interest-bearing deposits
$90Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$4,000Trading liabilities
$0Other borrowed funds
$563Subordinated debt
$11,515All other liabilities
$11,515Total equity capital
$11,515Total bank equity capital
$0Perpetual preferred stock
$200Common stock
$13,832Surplus
$-2,517Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$437Income earned, not collected on loans
$0Earning assets
$470Long-term assets (5+ years)
$69,918Average Assets, year-to-date
$43,539Average Assets, quarterly
$78,743Volatile liabilities
$78,020Insider loans
$32,971FHLB advances
$75,746Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$7,851Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$903Restructured Loans and leases
$125Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$3,088Total interest income
$779Total interest expense
$2,309Net interest income
$0Provision for loan and lease losses
$320Total noninterest income
$27Fiduciary activities
$153Service charges on deposit accounts
$0Trading account gains & fees
$140Additional noninterest income
$2,009Total noninterest expense
$897Salaries and employee benefits
$252Premises and equipment expense
$860Additional noninterest expense
$620Pre-tax net operating income
$15Securities gains (losses)
$29Applicable income taxes
$606Income before extraordinary items
$0Extraordinary gains - net
$606Net income attributable to bank
$0Net charge-offs
$606Cash dividends
$138Sale, conversion, retirement of capital stock, net
$608Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.39%Yield on earning assets
1.11%Cost of funding earning assets
3.28%Net interest margin
0.45%Noninterest income to earning assets
2.86%Noninterest expense to earning assets
0.75%Net operating income to assets
0.77%Return on assets (ROA)
0.81%Pretax return on assets
5.22%Return on equity (ROE)
-0.02%Retained earnings to average equity (YTD only)
0.54%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
4.49%Efficiency ratio
68,163Assets per employee
5.64%Cash dividends to net income (YTD only)
Condition Ratios (%)
100.33%Loss allowance to loans
2.82%Loss allowance to noncurrent loans
151.03%Noncurrent assets plus other real estate owned to assets
0.93%Noncurrent loans to loans
1.86%Net loans and leases to deposits
36.22%Net loans and leases to core deposits
40.01%Equity capital to assets
14.58%Core capital (leverage) ratio
10.36%Tier 1 risk-based capital ratio
23.81%Total risk-based capital ratio
Memoranda
$25Average assets
$78,743Average earning assets
$11,610Average equity
$70,352Average loans
Total Fiduciary and Related Assets (December 31, 2011)
Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
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