Cornerstone Bank Mortgage Rates, Fees & Info

Eureka Springs, AR

LEI: 5493007UW5GSKHED2095

Tax ID: 71-0009810

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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 Fayetteville.

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

    193

    Origination Dollar Volume (All Markets)

    $20,945,000

    Employee count

    78

    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
    Outside of Metro Areas 154 $16,180,000 $105,065 $0 0.00%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 39 $4,765,000 $122,179 $0 0.00%
    Cornerstone Bank's top markets include and Fayetteville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 193 $20,945,000 $108,523 $0 0.00%

    For 2018, Cornerstone Bank's most frequently originated type of loan was Conventional, with 193 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 108 $12,940,000 $119,815 $0 0.00%
    Refi 38 $3,900,000 $102,632 $0 0.00%
    Cash Out Refi 31 $3,315,000 $106,935 $0 0.00%
    Home Improvement 8 $280,000 $35,000 $0 0.00%
    Other 8 $510,000 $63,750 $0 0.00%

    For 2018, Cornerstone Bank's most frequently cited loan purpose was Home Purchase, with 108 originations. The 2nd most popular reason was Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 193 $20,945,000 $108,523 $0 0.00%

    For 2018, Cornerstone Bank's most frequently cited loan duration was Other, with 193 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 109 $5,825,000 $53,440 $0 0.00%
    $100k-200k 57 $7,875,000 $138,158 $0 0.00%
    $200k-400k 25 $6,375,000 $255,000 $0 0.00%
    $400k-600k 2 $870,000 $435,000 $0 0.00%

    2018 saw Cornerstone Bank place emphasis on $100,000 or less loans with 109 originations, totaling $5,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 54 $4,060,000 $75,185 $0 0.00%
    $50k-75k 50 $5,170,000 $103,400 $0 0.00%
    $100k-150k 34 $4,060,000 $119,412 $0 0.00%
    $150k-250k 19 $2,985,000 $157,105 $0 0.00%
    $75k-100k 17 $1,715,000 $100,882 $0 0.00%
    $250k+ 5 $985,000 $197,000 $0 0.00%

    Cornerstone Bank lent most frequently to those with incomes in the $50k or less range, with 54 originations. The second most popular income band? $50k-75k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 193 $20,945,000 $108,523 $0 0.00%

    Cornerstone Bank lent most frequently to those with DTI ratios of Exempt%, with 193 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 179 $19,225,000 $107,402 $0 0.00%
    Not applicable 13 $1,625,000 $125,000 $0 0.00%
    Not provided 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.56%

    Cornerstone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.19%

    Cornerstone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 193 $20,945,000 $108,523

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $380,000 $190,000
    Single Family (1-4 Units):Manufactured 27 $1,365,000 $50,556
    Single Family (1-4 Units):Site-Built 164 $19,200,000 $117,073

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Cornerstone Home Lending Inc. Conventional home mortgage Closing on a mortgage 2 12.5%
    Cornerstone Home Lending Inc. Conventional home mortgage Struggling to pay mortgage 1 6.3%
    Cornerstone Home Lending Inc. Conventional home mortgage Trouble during payment process 9 56.3%
    Cornerstone Home Lending Inc. FHA mortgage Closing on a mortgage 1 6.3%
    Cornerstone Home Lending Inc. FHA mortgage Struggling to pay mortgage 1 6.3%
    Cornerstone Home Lending Inc. FHA mortgage Trouble during payment process 2 12.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cornerstone Bank 1 Parkwood Drive Holiday Island, AR 72632 Full Service B&M $41,507
    Cornerstone Bank 1306 Hwy 62-65 North Harrison, AR 72601 Full Service B&M $9,555
    Cornerstone Bank 152 East Van Buren Eureka Springs, AR 72632 Full Service B&M $106,988
    Cornerstone Bank 270 Curtis Hutchins Way Huntsville, AR 72740 Full Service B&M $14,918
    Cornerstone Bank 70 South Main Street Eureka Springs, AR 72632 Full Service B&M $0
    Cornerstone Bank 907 W Trimble Berryville, AR 72616 Full Service B&M $50,155

    For 2018, Cornerstone Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,799
    Net interest income $10,481
    Total noninterest income $3,056
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $850
    Trading account gains and fees $0
    Additional Noninterest Income $2,206
    Pre-tax net operating income $3,776
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,776
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,776
    Minority interest net income $0
    Net income $3,776
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,776

    Cornerstone Bank's gross interest income from loans was $12,799,000.
    Cornerstone Bank's net interest income from loans was $10,481,000.
    Cornerstone Bank's fee based income from loans was $850,000.
    Cornerstone Bank's net income from loans was $3,776,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,318
    Provision for credit losses $780
    Total noninterest expense $8,981
    Salaries and employee benefits $4,912
    Premises and equipment expense $1,355
    Additional noninterest expense $2,714
    Applicable income taxes $0
    Net charge-offs $310
    Cash dividends $2,026

    Cornerstone Bank's interest expense for loans was $2,318,000.
    Cornerstone Bank's payroll and benefits expense were $4,912,000.
    Cornerstone Bank's property, plant and equipment expenses $1,355,000.

    Loan Performance

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

    Deposits

    Type Value (in 000's)
    Total deposits $235,399
    Deposits held in domestic offices $235,399
    Deposits by Individuals, partnerships, and corporations $187,499
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $47,899
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $80,039
    Demand deposits $80,039
    Nontransaction accounts $155,360
    Money market deposit accounts (MMDAs) $40,452
    Other savings deposits (excluding MMDAs) $28,585
    Total time deposits $86,323
    Total time and savings deposits $155,360
    Noninterest-bearing deposits $20,755
    Interest-bearing deposits $214,644
    Retail deposits $191,086
    IRAs and Keogh plan accounts $8,145
    Brokered deposits $20,112
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $287,417
    Cash & Balances due from depository institutions $8,550
    Interest-bearing balances $1,153
    Total securities $37,265
    Federal funds sold & reverse repurchase $0
    Net loans and leases $216,670
    Loan and leases loss allowance $2,570
    Trading account assets $0
    Bank premises and fixed assets $14,267
    Other real estate owned $2,488
    Goodwill and other intangibles $0
    All other assets $8,177

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $287,417
    Total Liabilities $262,888
    Total deposits $235,399
    Interest-bearing deposits $214,644
    Deposits held in domestic offices $235,399
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $475
    Trading liabilities $0
    Other borrowed funds $23,689
    Subordinated debt $0
    All other liabilities $3,325

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $216,670
    Loan and leases loss allowance $2,570
    Total loans and leases (domestic) $219,240
    All real estate loans $186,470
    Real estate loans in domestic offices $186,470
    Construction and development loans $16,598
    Residential 1-4 family construction $5,757
    Other construction, all land development and other land $10,841
    Loans secured by nonfarm nonresidential properties $53,356
    Nonfarm nonresidential secured by owner-occupied properties $17,554
    Commercial real estate & other non-farm, non-residential $35,802
    Multifamily residential real estate $2,252
    1-4 family residential loans $55,069
    Farmland loans $59,195
    Loans held in foreign offices $0
    Farm loans $10,028
    Commercial and industrial loans $12,690
    To non-U.S. addressees $0
    Loans to individuals $9,394
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,814
    Other loans to individuals $6,580
    All other loans & leases $658
    Loans to foreign governments and official institutions $0
    Other loans $178
    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 $236
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Cornerstone Bank had $216,670,000 of loans outstanding in 2018. $186,470,000 of loans were in real estate loans. $16,598,000 of loans were in development loans. $2,252,000 of loans were in multifamily mortgage loans. $55,069,000 of loans were in 1-4 family mortgage loans. $10,028,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,814,000 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 219 $31,453 $143,621
    Nonfarm, nonresidential loans - <$100k 59 $2,917 $49,441
    Nonfarm, nonresidential loans - $100-250k 83 $11,024 $132,819
    Nonfarm, nonresidential loans - $250k-1MM 77 $17,512 $227,429
    Commercial & Industrial, US addressed loans - <$1MM 940 $12,689 $13,499
    Commercial & Industrial, US addressed loans - <$100k 909 $8,000 $8,801
    Commercial & Industrial, US addressed loans - $100-250k 25 $2,432 $97,280
    Commercial & Industrial, US addressed loans - $250k-1MM 6 $2,257 $376,167
    Farmland loans - <$1MM 229 $28,289 $123,533
    Farmland loans - <$100k 109 $4,697 $43,092
    Farmland loans - $100-250k 85 $12,535 $147,471
    Farmland loans - $250k-1MM 35 $11,057 $315,914
    Agriculture operations loans - <$1MM 405 $10,028 $24,760
    Agriculture operations loans - <$100k 389 $7,820 $20,103
    Agriculture operations loans - $100-250k 15 $1,708 $113,867
    Agriculture operations loans - $250k-1MM 1 $500 $500,000