Cornerstone Bank Mortgage Rates, Fees & Info

Atlanta, GA

LEI: 2549001H2SU2SQGKJ938

Tax ID: 58-2588741

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Cornerstone Bank is a smaller bank specializing in Home Purchase loans. Cornerstone Bank has a high proportion of conventional loans. Their top (well, only) market is Atlanta.

    Cornerstone Bank has an above average approval rate when compared to the average across all lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    1

    Origination Dollar Volume (All Markets)

    $315,000

    Employee count

    33

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    Cornerstone Bank's top markets include and Atlanta among others.

    Their top states include:
  • Georgia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1 $315,000 $315,000 $0 0.00%

    For 2020, Cornerstone Bank's most frequently originated type of loan was Conventional, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1 $315,000 $315,000 $0 0.00%

    For 2020, Cornerstone Bank's most frequently cited loan purpose was Home Purchase, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1 $315,000 $315,000 $0 0.00%

    For 2020, Cornerstone Bank's most frequently cited loan duration was Other, with 1 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1 $315,000 $315,000 $0 0.00%

    2020 saw Cornerstone Bank place emphasis on $200k-400k loans with 1 originations, totaling $315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1 $315,000 $315,000 $0 0.00%

    Cornerstone Bank lent most frequently to those with incomes in the $100k-150k range, with 1 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 1 $315,000 $315,000 $0 0.00%

    Cornerstone Bank lent most frequently to those with DTI ratios of Exempt%, with 1 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1 $315,000 $315,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Cornerstone Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 1 $315,000 $315,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 1 $315,000 $315,000

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CORNERSTONE MORTGAGE, INC. Conventional home mortgage Incorrect information on your report 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cornerstonebank 125 Clairemont Ave Decatur, GA 30030 Full Service B&M $29,348
    Cornerstonebank 2060 Mount Paran Road, Northwest, Suite 100 Atlanta, GA 30327 Full Service B&M $81,662
    Cornerstonebank 6344 Roswell Road Sandy Springs, GA 30328 Full Service B&M $81,063

    For 2020, Cornerstone Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,388
    Net interest income $6,458
    Total noninterest income $743
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $70
    Trading account gains and fees $0
    Additional Noninterest Income $673
    Pre-tax net operating income $-2,451
    Securities gains (or losses, -) $0
    Income before extraordinary items $-2,451
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $-2,451
    Minority interest net income $0
    Net income $-2,451
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $-2,451

    Cornerstone Bank's gross interest income from loans was $8,388,000.
    Cornerstone Bank's net interest income from loans was $6,458,000.
    Cornerstone Bank's fee based income from loans was $70,000.
    Cornerstone Bank's net income from loans was $-2,451,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,930
    Provision for credit losses $370
    Total noninterest expense $9,282
    Salaries and employee benefits $3,949
    Premises and equipment expense $1,414
    Additional noninterest expense $3,919
    Applicable income taxes $0
    Net charge-offs $544
    Cash dividends $0

    Cornerstone Bank's interest expense for loans was $1,930,000.
    Cornerstone Bank's payroll and benefits expense were $3,949,000.
    Cornerstone Bank's property, plant and equipment expenses $1,414,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 5.0%
    Real Estate loans 5.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 7.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 3.0%
    Commercial & industrial loans 4.0%
    Personal loans 2.0%
    Credit card loans 0.0%
    Other individual loans 2.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $178,751
    Deposits held in domestic offices $178,751
    Deposits by Individuals, partnerships, and corporations $166,573
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $12,178
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $53,474
    Demand deposits $44,217
    Nontransaction accounts $125,277
    Money market deposit accounts (MMDAs) $52,773
    Other savings deposits (excluding MMDAs) $1,173
    Total time deposits $71,331
    Total time and savings deposits $134,534
    Noninterest-bearing deposits $44,217
    Interest-bearing deposits $134,534
    Retail deposits $159,218
    IRAs and Keogh plan accounts $2,768
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $210,906
    Cash & Balances due from depository institutions $17,854
    Interest-bearing balances $17,411
    Total securities $35,988
    Federal funds sold & reverse repurchase $0
    Net loans and leases $147,011
    Loan and leases loss allowance $2,519
    Trading account assets $0
    Bank premises and fixed assets $210
    Other real estate owned $585
    Goodwill and other intangibles $238
    All other assets $9,020

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $210,906
    Total Liabilities $192,716
    Total deposits $178,751
    Interest-bearing deposits $134,534
    Deposits held in domestic offices $178,751
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $11,000
    Subordinated debt $1,000
    All other liabilities $1,965

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $147,011
    Loan and leases loss allowance $2,519
    Total loans and leases (domestic) $149,530
    All real estate loans $107,992
    Real estate loans in domestic offices $107,992
    Construction and development loans $8,250
    Residential 1-4 family construction $7,017
    Other construction, all land development and other land $1,233
    Loans secured by nonfarm nonresidential properties $71,344
    Nonfarm nonresidential secured by owner-occupied properties $37,049
    Commercial real estate & other non-farm, non-residential $34,295
    Multifamily residential real estate $0
    1-4 family residential loans $28,398
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $41,166
    To non-U.S. addressees $0
    Loans to individuals $372
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $26
    Other loans to individuals $346
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,347
    Non 1-4 family restructured loans & leases $3,083
    Total loans and leases (foreign) $0

    Cornerstone Bank had $147,011,000 of loans outstanding in 2020. $107,992,000 of loans were in real estate loans. $8,250,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $28,398,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $26,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 72 $20,153 $279,903
    Nonfarm, nonresidential loans - <$100k 3 $122 $40,667
    Nonfarm, nonresidential loans - $100-250k 14 $1,567 $111,929
    Nonfarm, nonresidential loans - $250k-1MM 55 $18,464 $335,709
    Commercial & Industrial, US addressed loans - <$1MM 346 $30,215 $87,327
    Commercial & Industrial, US addressed loans - <$100k 199 $6,628 $33,307
    Commercial & Industrial, US addressed loans - $100-250k 78 $9,233 $118,372
    Commercial & Industrial, US addressed loans - $250k-1MM 69 $14,354 $208,029