Cornerstone State Bank

Headquarters

401 Fourth St Nw
Montgomery, MN 56069
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 1.05% →
1-Year CD 0.80% 0.95% →
2-Year CD 0.90% 1.05% →
5-Year CD 1.20% 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 State Bank is an FDIC insured institution located in Montgomery, MN. It was founded in 1974 and has approximately $0.18 billion in assets. Customers can open an account at one of its 7 branches.

FDIC Insured Yes
FDIC Certificate # 21525
Date Established 1974
Assets $ 176.31 million
Loans $ 107.41 million
Deposits $ 153.33 million
Capital $ 21.62 million
 

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

Deposit Rates - September 24, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.15% $1 $24,999 Learn More
Money Market
0.15% $1 $24,999 Learn More
Money Market
0.15% $25,000 $74,999 Learn More
Premium Money Market Account
0.20% $1 $24,999 Learn More
Premium Money Market Account
0.25% $25,000 $74,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.30% $1,000 $24,999 Learn More
3 Mo CD
0.60% $75,000 - Learn More
6 Mo CD
0.40% $1,000 $24,999 Learn More
6 Mo CD
0.70% $75,000 - Learn More
12 Mo CD
0.50% $500 $24,999 Learn More
12 Mo CD
0.80% $75,000 - Learn More
18 Mo CD
0.50% $500 $24,999 Learn More
18 Mo CD
0.80% $75,000 - Learn More
24 Mo CD
0.60% $500 $24,999 Learn More
24 Mo CD
0.90% $75,000 - Learn More
30 Mo CD
0.60% $500 $24,999 Learn More
30 Mo CD
0.90% $75,000 - Learn More
36 Mo CD
0.80% $500 $24,999 Learn More
36 Mo CD
1.10% $75,000 - Learn More
48 Mo CD
0.80% $500 $24,999 Learn More
48 Mo CD
1.10% $75,000 - Learn More
60 Mo CD
0.90% $500 $24,999 Learn More
60 Mo CD
1.20% $75,000 - Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.15% $1 $24,999 Learn MoreShow Less

Loan Rates - September 24, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Cornerstone State 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 State Bank
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Branches

Cornerstone State 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 State Bank Locations


Financial Details

Cornerstone State Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Cornerstone State 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 State Bank U.S. Bank Average
11.14% 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 State Bank had $2,308,000 in non-current loans and $254,000 in owned real estate. To cover these potential losses it had $21,619,000 in equity and $1,371,000 in loans loss reserves. That gives it a Texas Ratio of 11.14%.

Return on Equity
Cornerstone State Bank U.S. Bank Average
8.83% 7.80%

Cornerstone State Bank has a Return on Equity of 8.83% 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 State Bank U.S. Bank Average
12.26% 12.68%

Cornerstone State Bank has a Capitalization of 12.26% 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 State Bank Balance Sheet Analysis

As of March 31, 2020, Cornerstone State Bank had assets of $176,306,000, loans of $107,414,000, and deposits of $153,329,000. 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 $ 11.40 million
Interest-bearing balances $ 8.73 million
Total securities $ 43.49 million
Federal funds sold and reverse repurchase $ 2.70 million
Net loans and leases $ 107.41 million
Loan loss allowance $ 1.37 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.25 million
Goodwill and other intangibles $ 0.95 million
All other assets $ 4.25 million
     Total Assets $ 154.69 million
LIABILITIES
Total deposits $ 153.33 million
      Interest-bearing deposits $ 137.54 million
      Deposits held in domestic offices $ 153.33 million
      % insured (estimated) 93.93%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 0.64 million
Subordinated debt N.A.
All other liabilities $ 0.72 million
      Total Liabilities $ 154.69 million
      Shareholders’ Equity $ 21.62 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.66 million
Total Interest Expense $ 0.24 million
Net interest income $ 1.43 million
Provision for loan and lease losses $ 0.06 million
Total non interest income $ 0.37 million
Total non interest expense $ 1.28 million
Pre-tax Net Operating Income $ 0.47 million

Bank Loan Profile?

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

Compared to other banks in Minnesota, Cornerstone State Bank has a significantly higher percent of 1-4 Family Residential Loans, 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 42.49
Multifamily
Mortgages
5.72
Credit Card Loans 0.00
Consumer Auto Loans 4.82
Small Business Loans 13.45
Construction and Development Loans 3.24
Commercial Real Estate 19.09
Commercial and Industrial Loans 11.62
Farm Loans 0.65

Frequently Asked Questions About Cornerstone State Bank

Branches and Savings

Is Cornerstone State Bank FDIC insured?

Yes. It is covered under FDIC Certificate #21525.

Why does Cornerstone State 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 State Bank CD rates not competitive?

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

Is Cornerstone State Bank a commercial bank?

Yes

Where are Cornerstone State Bank locations?

See branch locations nearby.

Is Cornerstone State Bank open on Saturdays?

Is Cornerstone State Bank open on Sundays?

What time does Cornerstone State Bank open?

What time does Cornerstone State Bank close?

Are Cornerstone State Bank ATMs Open 24/7?

Do Cornerstone State Bank ATMs accept cash deposits?

Can Cornerstone State Bank customers use other ATMs?

Do Cornerstone State Bank branches have notaries?

Will Cornerstone State Bank notarize my document?

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

Will the Cornerstone State Bank branch print checks?

Do Cornerstone State Bank checks expire?

Does Cornerstone State Bank require US citizenship to open account?

Can Cornerstone State Bank close my account?

Does Cornerstone State Bank Report to credit bureaus?

Does Cornerstone State Bank Use Equifax?

What is Cornerstone State Bank's ACH Routing Number?

What is Cornerstone State Bank's SWIFT code?

Products

Does Cornerstone State Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Cornerstone State Bank offer personal loans?

Compare personal loan rates here.

Does Cornerstone State Bank offer student loans?

Will Cornerstone State Bank cash a check?

Will Cornerstone State Bank redeem a savings bond?

Does Cornerstone State Bank cash savings bonds?

Will Cornerstone State Bank cash money orders?

Can Cornerstone State Bank issue a money order?

Does Cornerstone State Bank do currency exchange?

Background on The Bank

Who owns Cornerstone State Bank?

How long has Cornerstone State Bank been around?

Can Cornerstone State Bank transfer to other banks?

Does Cornerstone State Bank have quick pay?

Does Cornerstone State Bank accept rolled coins?

Will Cornerstone State Bank accept loose change?

Where is Cornerstone State Bank headquarters?

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