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 a below 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

    205

    Origination Dollar Volume (All Markets)

    $24,605,000

    Employee count

    81

    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 158 $18,770,000 $118,797 $0 0.00%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 47 $5,835,000 $124,149 $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 205 $24,605,000 $120,024 $0 0.00%

    For 2019, Cornerstone Bank's most frequently originated type of loan was Conventional, with 205 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 121 $14,955,000 $123,595 $0 0.00%
    Refi 36 $4,680,000 $130,000 $0 0.00%
    Cash Out Refi 28 $4,100,000 $146,429 $0 0.00%
    Other 12 $510,000 $42,500 $0 0.00%
    Home Improvement 8 $360,000 $45,000 $0 0.00%

    For 2019, Cornerstone Bank's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 205 $24,605,000 $120,024 $0 0.00%

    For 2019, Cornerstone Bank's most frequently cited loan duration was Other, with 205 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 110 $5,990,000 $54,455 $0 0.00%
    $100k-200k 69 $9,855,000 $142,826 $0 0.00%
    $200k-400k 22 $5,730,000 $260,455 $0 0.00%
    $600k-1MM 2 $1,450,000 $725,000 $0 0.00%
    $1MM+ 1 $1,125,000 $1,125,000 $0 0.00%
    $400k-600k 1 $455,000 $455,000 $0 0.00%

    2019 saw Cornerstone Bank place emphasis on $100,000 or less loans with 110 originations, totaling $5,990,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 66 $5,830,000 $88,333 $0 0.00%
    $50k-75k 49 $4,975,000 $101,531 $0 0.00%
    $100k-150k 30 $3,590,000 $119,667 $0 0.00%
    $150k-250k 18 $2,960,000 $164,444 $0 0.00%
    $75k-100k 18 $2,680,000 $148,889 $0 0.00%
    $250k+ 8 $2,610,000 $326,250 $0 0.00%

    Cornerstone Bank lent most frequently to those with incomes in the $50k or less range, with 66 originations. The second most popular income band? $50k-75k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 205 $24,605,000 $120,024 $0 0.00%

    Cornerstone Bank lent most frequently to those with DTI ratios of Exempt%, with 205 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 189 $22,585,000 $119,497 $0 0.00%
    Not applicable 13 $1,695,000 $130,385 $0 0.00%
    Asian 1 $195,000 $195,000 $0 0.00%
    American Indian 2 $130,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.23%

    Cornerstone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.32%

    Cornerstone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 205 $24,605,000 $120,024

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $1,350,000 $337,500
    Single Family (1-4 Units):Manufactured 26 $1,580,000 $60,769
    Single Family (1-4 Units):Site-Built 175 $21,675,000 $123,857

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CORNERSTONE MORTGAGE, INC. FHA mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cornerstone Bank 1 Parkwood Drive Holiday Island, AR 72632 Full Service B&M $44,394
    Cornerstone Bank 1426 Highway 65 North Harrison, AR 72601 Full Service B&M $31,471
    Cornerstone Bank 152 East Van Buren Eureka Springs, AR 72632 Full Service B&M $122,621
    Cornerstone Bank 270 Curtis Hutchins Way Huntsville, AR 72740 Full Service B&M $19,863
    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 $45,745

    For 2019, Cornerstone Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,975
    Net interest income $11,881
    Total noninterest income $3,777
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $969
    Trading account gains and fees $0
    Additional Noninterest Income $2,808
    Pre-tax net operating income $5,036
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,036
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,036
    Minority interest net income $0
    Net income $5,036
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,036

    Cornerstone Bank's gross interest income from loans was $15,975,000.
    Cornerstone Bank's net interest income from loans was $11,881,000.
    Cornerstone Bank's fee based income from loans was $969,000.
    Cornerstone Bank's net income from loans was $5,036,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,094
    Provision for credit losses $720
    Total noninterest expense $9,902
    Salaries and employee benefits $5,326
    Premises and equipment expense $1,501
    Additional noninterest expense $3,075
    Applicable income taxes $0
    Net charge-offs $46
    Cash dividends $2,573

    Cornerstone Bank's interest expense for loans was $4,094,000.
    Cornerstone Bank's payroll and benefits expense were $5,326,000.
    Cornerstone Bank's property, plant and equipment expenses $1,501,000.

    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 $281,198
    Deposits held in domestic offices $281,198
    Deposits by Individuals, partnerships, and corporations $226,079
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $54,878
    Deposits by Commercial banks and other depository institutions in U.S. $241
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $95,629
    Demand deposits $95,629
    Nontransaction accounts $185,569
    Money market deposit accounts (MMDAs) $42,426
    Other savings deposits (excluding MMDAs) $28,474
    Total time deposits $114,670
    Total time and savings deposits $185,569
    Noninterest-bearing deposits $26,609
    Interest-bearing deposits $254,589
    Retail deposits $234,178
    IRAs and Keogh plan accounts $9,623
    Brokered deposits $20,604
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $336,837
    Cash & Balances due from depository institutions $15,626
    Interest-bearing balances $6,925
    Total securities $34,262
    Federal funds sold & reverse repurchase $0
    Net loans and leases $259,619
    Loan and leases loss allowance $3,244
    Trading account assets $0
    Bank premises and fixed assets $17,041
    Other real estate owned $1,603
    Goodwill and other intangibles $0
    All other assets $8,686

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $336,837
    Total Liabilities $309,845
    Total deposits $281,198
    Interest-bearing deposits $254,589
    Deposits held in domestic offices $281,198
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $24,469
    Subordinated debt $0
    All other liabilities $4,178

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $259,619
    Loan and leases loss allowance $3,244
    Total loans and leases (domestic) $262,863
    All real estate loans $219,687
    Real estate loans in domestic offices $219,687
    Construction and development loans $25,067
    Residential 1-4 family construction $11,885
    Other construction, all land development and other land $13,182
    Loans secured by nonfarm nonresidential properties $56,451
    Nonfarm nonresidential secured by owner-occupied properties $16,370
    Commercial real estate & other non-farm, non-residential $40,081
    Multifamily residential real estate $3,005
    1-4 family residential loans $71,347
    Farmland loans $63,817
    Loans held in foreign offices $0
    Farm loans $11,265
    Commercial and industrial loans $19,135
    To non-U.S. addressees $0
    Loans to individuals $12,017
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $4,405
    Other loans to individuals $7,612
    All other loans & leases $759
    Loans to foreign governments and official institutions $0
    Other loans $234
    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 $428
    Non 1-4 family restructured loans & leases $399
    Total loans and leases (foreign) $0

    Cornerstone Bank had $259,619,000 of loans outstanding in 2019. $219,687,000 of loans were in real estate loans. $25,067,000 of loans were in development loans. $3,005,000 of loans were in multifamily mortgage loans. $71,347,000 of loans were in 1-4 family mortgage loans. $11,265,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,405,000 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 252 $36,425 $144,544
    Nonfarm, nonresidential loans - <$100k 79 $3,383 $42,823
    Nonfarm, nonresidential loans - $100-250k 85 $11,007 $129,494
    Nonfarm, nonresidential loans - $250k-1MM 88 $22,035 $250,398
    Commercial & Industrial, US addressed loans - <$1MM 1,215 $15,216 $12,523
    Commercial & Industrial, US addressed loans - <$100k 1,181 $9,527 $8,067
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,629 $101,115
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $3,060 $382,500
    Farmland loans - <$1MM 279 $35,223 $126,247
    Farmland loans - <$100k 134 $5,607 $41,843
    Farmland loans - $100-250k 98 $14,786 $150,878
    Farmland loans - $250k-1MM 47 $14,830 $315,532
    Agriculture operations loans - <$1MM 477 $11,265 $23,616
    Agriculture operations loans - <$100k 462 $9,112 $19,723
    Agriculture operations loans - $100-250k 14 $1,653 $118,071
    Agriculture operations loans - $250k-1MM 1 $500 $500,000