Cornerstone Bank

Headquarters

115 West A Street
Watonga, OK 73772
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 1.05% →
1-Year CD 0.50% 0.95% →
2-Year CD 0.70% 1.05% →
5-Year CD 1.00% 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Cornerstone Bank is an FDIC insured institution located in Watonga, OK. It was founded in 1928 and has approximately $0.22 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 2318
Date Established 1928
Assets $ 220.20 million
Loans $ 95.49 million
Deposits $ 200.08 million
Capital $ 17.65 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 - September 21, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.15% $2,500 $4,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.20% $10,000 $14,999 Learn More
6 Mo CD
0.35% $10,000 $14,999 Learn More
12 Mo CD
0.50% $10,000 $14,999 Learn More
18 Mo CD
0.60% $10,000 $14,999 Learn More
24 Mo CD
0.70% $10,000 $14,999 Learn More
24 Mo CD
0.70% $100,000 $199,999 Learn More
36 Mo CD
0.80% $10,000 $14,999 Learn More
60 Mo CD
1.00% $10,000 $14,999 Learn More


Loan Rates - September 21, 2020

Your Current Location: Connecticut, CT 06828

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 - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.815% 2.750% 0.88 $2,122 $1,021 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 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:
Fairfield,Connecticut


Cornerstone Bank Locations


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
1.19% 6.94%

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 March 31, 2020, Cornerstone Bank had $221,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $17,647,000 in equity and $906,000 in loans loss reserves. That gives it a Texas Ratio of 1.19%.

Return on Equity
Cornerstone Bank U.S. Bank Average
10.71% 7.80%

Cornerstone Bank has a Return on Equity of 10.71% versus the BestCashCow average of 7.80%. 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
8.01% 12.68%

Cornerstone Bank has a Capitalization of 8.01% versus the BestCashCow average of 12.68. 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 March 31, 2020, Cornerstone Bank had assets of $220,203,000, loans of $95,490,000, and deposits of $200,079,000. 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

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 14.84 million
Interest-bearing balances $ 12.85 million
Total securities $ 98.92 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 95.49 million
Loan loss allowance $ 0.91 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 $ 6.91 million
     Total Assets $ 202.56 million
LIABILITIES
Total deposits $ 200.08 million
      Interest-bearing deposits $ 157.27 million
      Deposits held in domestic offices $ 200.08 million
      % insured (estimated) 70.26%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 2.48 million
      Total Liabilities $ 202.56 million
      Shareholders’ Equity $ 17.65 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.98 million
Total Interest Expense $ 0.27 million
Net interest income $ 1.71 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.30 million
Total non interest expense $ 1.52 million
Pre-tax Net Operating Income $ 0.50 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 Construction and Development Loans.

Compared to other banks in Oklahoma, Cornerstone Bank has a significantly higher percent of Small Business Loans, Construction and Development 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 20.82
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 3.39
Small Business Loans 13.53
Construction and Development Loans 14.45
Commercial Real Estate 27.28
Commercial and Industrial Loans 12.79
Farm Loans 10.17

Frequently Asked Questions About Cornerstone Bank

Branches and Savings

Is Cornerstone Bank FDIC insured?

Yes. It is covered under FDIC Certificate #2318.

Why does Cornerstone Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Cornerstone Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Cornerstone Bank a commercial bank?

Yes

Where are Cornerstone Bank locations?

See branch locations nearby.

Is Cornerstone Bank open on Saturdays?

Is Cornerstone Bank open on Sundays?

What time does Cornerstone Bank open?

What time does Cornerstone Bank close?

Are Cornerstone Bank ATMs Open 24/7?

Do Cornerstone Bank ATMs accept cash deposits?

Can Cornerstone Bank customers use other ATMs?

Do Cornerstone Bank branches have notaries?

Will Cornerstone Bank notarize my document?

What address for Cornerstone Bank should I put for incoming ACH transfers?

Will the Cornerstone Bank branch print checks?

Do Cornerstone Bank checks expire?

Does Cornerstone Bank require US citizenship to open account?

Can Cornerstone Bank close my account?

Does Cornerstone Bank Report to credit bureaus?

Does Cornerstone Bank Use Equifax?

What is Cornerstone Bank's ACH Routing Number?

What is Cornerstone Bank's SWIFT code?

Products

Does Cornerstone Bank offer mortgages?

Compare mortgage rates here.

Does Cornerstone Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Cornerstone Bank offer personal loans?

Compare personal loan rates here.

Does Cornerstone Bank offer student loans?

Will Cornerstone Bank cash a check?

Will Cornerstone Bank redeem a savings bond?

Does Cornerstone Bank cash savings bonds?

Will Cornerstone Bank cash money orders?

Can Cornerstone Bank issue a money order?

Does Cornerstone Bank do currency exchange?

Background on The Bank

Who owns Cornerstone Bank?

How long has Cornerstone Bank been around?

Can Cornerstone Bank transfer to other banks?

Does Cornerstone Bank have quick pay?

Does Cornerstone Bank accept rolled coins?

Will Cornerstone Bank accept loose change?

Where is Cornerstone Bank headquarters?

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