Cornerstone Bank Mortgage Rates, Fees & Info

Eureka Springs, AR

LEI: 5493007UW5GSKHED2095

Tax ID: 71-0009810

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    285

    Origination Dollar Volume (All Markets)

    $44,665,000

    Employee count

    97

    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 231 $34,185,000 $147,987 $0 0.00%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 54 $10,480,000 $194,074 $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 285 $44,665,000 $156,719 $0 0.00%

    For 2021, Cornerstone Bank's most frequently originated type of loan was Conventional, with 285 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 170 $29,870,000 $175,706 $0 0.00%
    Refi 48 $6,550,000 $136,458 $0 0.00%
    Cash Out Refi 47 $7,285,000 $155,000 $0 0.00%
    Home Improvement 10 $480,000 $48,000 $0 0.00%
    Other 10 $480,000 $48,000 $0 0.00%

    For 2021, Cornerstone Bank's most frequently cited loan purpose was Home Purchase, with 170 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 285 $44,665,000 $156,719 $0 0.00%

    For 2021, Cornerstone Bank's most frequently cited loan duration was Other, with 285 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 117 $6,635,000 $56,709 $0 0.00%
    $100k-200k 110 $15,660,000 $142,364 $0 0.00%
    $200k-400k 48 $12,540,000 $261,250 $0 0.00%
    $400k-600k 6 $2,770,000 $461,667 $0 0.00%
    $1MM+ 3 $6,235,000 $2,078,333 $0 0.00%
    $600k-1MM 1 $825,000 $825,000 $0 0.00%

    2021 saw Cornerstone Bank place emphasis on $100,000 or less loans with 117 originations, totaling $6,635,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 89 $8,755,000 $98,371 $0 0.00%
    $50k-75k 57 $6,555,000 $115,000 $0 0.00%
    $100k-150k 45 $7,685,000 $170,778 $0 0.00%
    $75k-100k 37 $5,445,000 $147,162 $0 0.00%
    $150k-250k 18 $3,560,000 $197,778 $0 0.00%
    $250k+ 9 $2,945,000 $327,222 $0 0.00%

    Cornerstone Bank lent most frequently to those with incomes in the $50k or less range, with 89 originations. The second most popular income band? $50k-75k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 285 $44,665,000 $156,719 $0 0.00%

    Cornerstone Bank lent most frequently to those with DTI ratios of Exempt%, with 285 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 248 $34,210,000 $137,944 $0 0.00%
    Not applicable 29 $9,545,000 $329,138 $0 0.00%
    Not provided 7 $835,000 $119,286 $0 0.00%
    American Indian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.40%

    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
    90.88%

    Cornerstone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 285 $44,665,000 $156,719

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    285 $44,665,000 $156,719

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    CORNERSTONE MORTGAGE, INC. Conventional home mortgage Struggling to pay mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cs Bank 1 Parkwood Dr Holiday Island, AR 72631 Full Service B&M $59,980
    Cs Bank 1426 Highway 65 North Harrison, AR 72601 Full Service B&M $59,709
    Cs Bank 152 East Van Buren Eureka Springs, AR 72632 Full Service B&M $132,924
    Cs Bank 18565 State Highway 37 Cassville, MO 65625 Full Service B&M $5,401
    Cs Bank 270 Curtis Hutchins Way Huntsville, AR 72740 Full Service B&M $42,665
    Cs Bank 70 South Main Street Eureka Springs, AR 72632 Full Service B&M $0
    Cs Bank 907 W Trimble Berryville, AR 72616 Full Service B&M $68,437

    For 2021, Cornerstone Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,494
    Net interest income $17,120
    Total noninterest income $5,207
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,070
    Trading account gains and fees $0
    Additional Noninterest Income $4,137
    Pre-tax net operating income $8,953
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,953
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,953
    Minority interest net income $0
    Net income $8,953
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,953

    Cornerstone Bank's gross interest income from loans was $19,494,000.
    Cornerstone Bank's net interest income from loans was $17,120,000.
    Cornerstone Bank's fee based income from loans was $1,070,000.
    Cornerstone Bank's net income from loans was $8,953,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,374
    Provision for credit losses $1,200
    Total noninterest expense $12,174
    Salaries and employee benefits $6,746
    Premises and equipment expense $1,817
    Additional noninterest expense $3,611
    Applicable income taxes $0
    Net charge-offs $-2
    Cash dividends $4,144

    Cornerstone Bank's interest expense for loans was $2,374,000.
    Cornerstone Bank's payroll and benefits expense were $6,746,000.
    Cornerstone Bank's property, plant and equipment expenses $1,817,000.

    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 $400,749
    Deposits held in domestic offices $400,749
    Deposits by Individuals, partnerships, and corporations $328,632
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $72,117
    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 $181,815
    Demand deposits $181,815
    Nontransaction accounts $218,934
    Money market deposit accounts (MMDAs) $75,149
    Other savings deposits (excluding MMDAs) $50,642
    Total time deposits $93,143
    Total time and savings deposits $218,934
    Noninterest-bearing deposits $62,663
    Interest-bearing deposits $338,086
    Retail deposits $369,978
    IRAs and Keogh plan accounts $10,198
    Brokered deposits $4
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $480,019
    Cash & Balances due from depository institutions $80,768
    Interest-bearing balances $67,740
    Total securities $36,452
    Federal funds sold & reverse repurchase $0
    Net loans and leases $333,601
    Loan and leases loss allowance $5,309
    Trading account assets $0
    Bank premises and fixed assets $17,752
    Other real estate owned $272
    Goodwill and other intangibles $0
    All other assets $11,174

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $480,019
    Total Liabilities $435,471
    Total deposits $400,749
    Interest-bearing deposits $338,086
    Deposits held in domestic offices $400,749
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $29,161
    Subordinated debt $0
    All other liabilities $5,561

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $333,601
    Loan and leases loss allowance $5,309
    Total loans and leases (domestic) $338,910
    All real estate loans $281,382
    Real estate loans in domestic offices $281,382
    Construction and development loans $54,234
    Residential 1-4 family construction $16,721
    Other construction, all land development and other land $37,513
    Loans secured by nonfarm nonresidential properties $41,359
    Nonfarm nonresidential secured by owner-occupied properties $9,951
    Commercial real estate & other non-farm, non-residential $31,408
    Multifamily residential real estate $7,892
    1-4 family residential loans $106,927
    Farmland loans $70,970
    Loans held in foreign offices $0
    Farm loans $11,691
    Commercial and industrial loans $24,425
    To non-U.S. addressees $0
    Loans to individuals $20,486
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $7,327
    Other loans to individuals $13,159
    All other loans & leases $925
    Loans to foreign governments and official institutions $0
    Other loans $126
    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 $23
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Cornerstone Bank had $333,601,000 of loans outstanding in 2021. $281,382,000 of loans were in real estate loans. $54,234,000 of loans were in development loans. $7,892,000 of loans were in multifamily mortgage loans. $106,927,000 of loans were in 1-4 family mortgage loans. $11,691,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,327,000 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 256 $37,058 $144,758
    Nonfarm, nonresidential loans - <$100k 69 $2,969 $43,029
    Nonfarm, nonresidential loans - $100-250k 87 $11,204 $128,782
    Nonfarm, nonresidential loans - $250k-1MM 100 $22,885 $228,850
    Commercial & Industrial, US addressed loans - <$1MM 1,660 $21,267 $12,811
    Commercial & Industrial, US addressed loans - <$100k 1,605 $13,530 $8,430
    Commercial & Industrial, US addressed loans - $100-250k 45 $4,843 $107,622
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $2,894 $289,400
    Farmland loans - <$1MM 329 $37,612 $114,322
    Farmland loans - <$100k 159 $6,826 $42,931
    Farmland loans - $100-250k 123 $17,049 $138,610
    Farmland loans - $250k-1MM 47 $13,737 $292,277
    Agriculture operations loans - <$1MM 521 $11,691 $22,440
    Agriculture operations loans - <$100k 499 $8,630 $17,295
    Agriculture operations loans - $100-250k 17 $1,734 $102,000
    Agriculture operations loans - $250k-1MM 5 $1,327 $265,400