CornerStone Bank

Headquarters

54 S Main St
Lexington, VA 24450
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Notable Rates APY Vs.Others
Savings N.A. 5.50% →
1-Year CD N.A. 4.80% →
2-Year CD N.A. 4.25% →
5-Year CD N.A. 4.05% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

CornerStone Bank is an FDIC insured institution located in Lexington, VA. It was founded in 2009 and has approximately $0.22 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 58859
Date Established 2009
Assets $ 222.25 million
Loans $ 168.73 million
Deposits $ 186.88 million
Capital $ 22.25 million
 

For a more detailed analysis of CornerStone Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - December 4, 2024

Your Current Location: Ohio, OH 43085


Loan Rates - December 4, 2024

Your Current Location: Ohio, OH 43085

There are currently no loan rates available for CornerStone Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Ohio 30 Year Fixed Mortgage Rates 2024

Lender APR Rate (%) Monthly
Payment
Learn More
District Lending
NMLS ID: 1835285
6.254% 6.125%
0.88 points
$4,400 fees
$1,945 Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.578% 6.490%
0.75 points
$2,940 fees
$2,021 Learn More
PenFed Credit Union
NMLS ID: 401822
7.034% 6.875%
1.00 points
$5,195 fees
$2,103 Learn More
Rocket Mortgage
NMLS ID: 3030
7.212% 7.125%
0.88 points
$2,800 fees
$2,156 Learn More

Featured - Ohio Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
Intro APR 7.240 %
After Intro: 7.240 %
$0 Learn More
More Info
Rate
Rate
See Table
Intro APR 8.100 %
After Intro: 8.100 %
$25,000 Learn More
More Info

Note to CornerStone Bank
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Branches

CornerStone Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Columbus,Ohio


CornerStone Bank Locations around zip code 43085




Climate Policy and Initiatives

CornerStone Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.


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Financial Details

CornerStone Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of CornerStone Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
CornerStone Bank U.S. Bank Average
3.95% 4.48%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of June 30, 2024, CornerStone Bank had $932,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $22,250,000 in equity and $1,325,000 in loans loss reserves. That gives it a Texas Ratio of 3.95%.

Return on Equity
CornerStone Bank U.S. Bank Average
7.02% 10.46%

CornerStone Bank has a Return on Equity of 7.02% versus the BestCashCow average of 10.46%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
CornerStone Bank U.S. Bank Average
10.01% 10.84%

CornerStone Bank has a Capitalization of 10.01% versus the BestCashCow average of 10.84. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

CornerStone Bank Balance Sheet Analysis

As of June 30, 2024, CornerStone Bank had assets of $222,249,000, loans of $168,727,000, and deposits of $186,881,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

June 30, 2024
ASSETS
Cash & Balances due from depository institutions $ 22.12 million
Interest-bearing balances $ 18.64 million
Total securities $ 20.15 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 168.73 million
Loan loss allowance $ 1.33 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 6.37 million
     Total Assets $ 200.00 million
LIABILITIES
Total deposits $ 186.88 million
      Interest-bearing deposits $ 130.07 million
      Deposits held in domestic offices $ 186.88 million
      % insured (estimated) 76.24%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.33 million
      Total Liabilities $ 200.00 million
      Shareholders’ Equity $ 22.25 million

Summary Income Statement

June 30, 2024
INCOME AND EXPENSES
Total Interest Income $ 5.44 million
Total Interest Expense $ 1.89 million
Net interest income $ 3.55 million
Provision for loan and lease losses $ 0.01 million
Total non interest income $ 0.41 million
Total non interest expense $ 3.00 million
Pre-tax Net Operating Income $ 1.02 million

Bank Loan Profile?

The top three loan types in CornerStone Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Virginia, CornerStone Bank has a significantly higher percent of Small Business Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 29.46
Multifamily
Mortgages
6.29
Credit Card Loans 0.00
Consumer Auto Loans 0.44
Small Business Loans 16.53
Construction and Development Loans 7.04
Commercial Real Estate 32.21
Commercial and Industrial Loans 13.35
Farm Loans 0.00

Customer Reviews for CornerStone Bank

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