Cornerstone Bank Mortgage Rates, Fees & Info

York, NE

LEI: 549300MNVXT92RBYBF93

Tax ID: 47-0341288

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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 and Refi loans. Cornerstone Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Omaha, Grand Island, San Francisco, Columbus, and Atlanta among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cornerstone Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cornerstone Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.21% 11/22/24
    30 Year Conventional Refi 6.13% 11/22/24
    30 Year Cash-out Refi 6.77% 11/22/24
    30 Year VA Purchase 6.27% 11/22/24
    30 Year USDA Purchase 6.27% 11/22/24
    15 Year Conventional Purchase 7.60% 11/22/24
    15 Year Conventional Refi 7.31% 11/22/24
    15 Year Cash-out Refi 7.31% 11/22/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Cornerstone Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Cornerstone Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    167

    Origination Dollar Volume (All Markets)

    $35,995,000

    Employee count

    492

    Awards

    Cornerstone Bank 30 Year Conventional Loans gold Cornerstone Bank USDA Loans gold Cornerstone Bank USDA Loans gold
    Show all (3) awards

    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 93 $21,955,000 $236,075 $1,363 4.40%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 30 $5,020,000 $167,333 $1,452 3.82%
    GRAND ISLAND, NE (FHA|USDA|VA) 24 $4,980,000 $207,500 $1,520 4.28%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $1,385,000 $1,385,000 $2,886 3.50%
    Columbus, NE (FHA|USDA|VA) 9 $895,000 $99,444 $2,594 3.14%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $795,000 $795,000 $4,479 4.50%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 4 $360,000 $90,000 $0 4.19%
    Kearney, NE (FHA|USDA|VA) 2 $290,000 $145,000 $0 3.50%
    LINCOLN, NE (FHA|USDA|VA) 2 $240,000 $120,000 $959 4.11%
    Hastings, NE (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.50%
    Cornerstone Bank's top markets include Omaha, Grand Island, San Francisco, Columbus, and Atlanta among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 152 $34,240,000 $225,263 $1,275 4.33%
    USDA 15 $1,755,000 $117,000 $3,012 2.72%

    For 2021, Cornerstone Bank's most frequently originated type of loan was Conventional, with 152 originations. Their 2nd most popular type was USDA, with 15 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 83 $13,995,000 $168,614 $2,066 4.08%
    Refi 58 $19,020,000 $327,931 $1,156 4.39%
    Home Improvement 11 $1,065,000 $96,818 $507 4.94%
    Cash Out Refi 10 $1,740,000 $174,000 $1,332 3.06%
    Other 5 $175,000 $35,000 $518 4.22%

    For 2021, Cornerstone Bank's most frequently cited loan purpose was Home Purchase, with 83 originations. The 2nd most popular reason was Refi, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 48 $18,630,000 $388,125 $1,388 4.52%
    15 Year 41 $4,515,000 $110,122 $1,358 4.29%
    30 Year 26 $3,700,000 $142,308 $2,545 2.79%
    20 Year 19 $4,655,000 $245,000 $1,112 4.23%
    10 Year 18 $810,000 $45,000 $561 4.74%
    5 Year 10 $2,970,000 $297,000 $690 4.53%
    1 Year 5 $715,000 $143,000 $1,456 4.70%

    For 2021, Cornerstone Bank's most frequently cited loan duration was Other, with 48 originations. The 2nd most popular length was 15 Year, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 101 $10,955,000 $108,465
    $1k-2k 1 $115,000 $115,000

    Cornerstone Bank's average total fees were $2,545, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 101 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 106 $11,420,000 $107,736
    3-4% 17 $7,425,000 $436,765
    2.5-3% 16 $4,500,000 $281,250
    <2.5% 15 $12,105,000 $807,000
    5-6% 12 $510,000 $42,500
    7-8% 1 $35,000 $35,000

    During 2021, Cornerstone Bank's average interest rate for loans was 2.79%, while their most frequently originated rate bucket for loans was 4-5%, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 96 $5,010,000 $52,188 $1,119 4.52%
    $100k-200k 47 $6,405,000 $136,277 $2,029 3.79%
    $200k-400k 13 $3,495,000 $268,846 $1,771 3.79%
    $1MM+ 5 $17,385,000 $3,477,000 $2,886 2.95%
    $400k-600k 3 $1,285,000 $428,333 $1,445 3.83%
    $600k-1MM 3 $2,415,000 $805,000 $4,479 4.08%

    2021 saw Cornerstone Bank place emphasis on $100,000 or less loans with 96 originations, totaling $5,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 40 $2,370,000 $59,250 $1,447 4.33%
    $50k-75k 39 $3,775,000 $96,795 $1,631 4.27%
    $75k-100k 22 $2,290,000 $104,091 $1,265 4.04%
    $100k-150k 12 $2,150,000 $179,167 $1,387 3.99%
    $150k-250k 7 $1,745,000 $249,286 $1,941 3.85%
    $250k+ 6 $1,630,000 $271,667 $2,886 4.10%

    Cornerstone Bank lent most frequently to those with incomes in the $50k or less range, with 40 originations. The second most popular income band? $50k-75k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 31 $4,695,000 $151,452 $1,718 3.98%
    <20% 28 $12,350,000 $441,071 $1,187 4.34%
    30-36% 19 $2,075,000 $109,211 $1,381 3.97%
    47% 5 $565,000 $113,000 $1,981 4.20%
    39% 5 $565,000 $113,000 $1,817 4.30%
    44% 4 $310,000 $77,500 $2,029 3.75%
    40% 4 $310,000 $77,500 $564 4.30%
    41% 4 $270,000 $67,500 $1,050 4.90%
    37% 4 $250,000 $62,500 $585 4.48%
    38% 4 $460,000 $115,000 $2,899 3.01%
    >60% 3 $495,000 $165,000 $986 4.71%
    50-60% 3 $475,000 $158,333 $1,598 4.63%
    43% 2 $350,000 $175,000 $2,989 2.81%
    48% 2 $300,000 $150,000 $1,390 4.60%
    45% 2 $250,000 $125,000 $1,833 2.69%
    46% 1 $25,000 $25,000 $536 5.90%
    42% 1 $95,000 $95,000 $1,466 4.42%

    Cornerstone Bank lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? <20%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 37 $21,605,000 $583,919 $1,445 4.24%
    White 129 $14,255,000 $110,504 $1,499 4.19%
    Black 1 $135,000 $135,000 $3,394 2.63%

    Approval Rates

    Total approvals of all applications
    85.49%

    Cornerstone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.47%

    Cornerstone Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 167 $35,995,000 $215,539

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    167 $35,995,000 $215,539

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $1,545,000 $57,222 $873 4.53%
    40-60% 27 $2,535,000 $93,889 $1,042 4.43%
    60-80% 55 $8,545,000 $155,364 $1,552 4.28%
    80-100% 44 $10,000,000 $227,273 $2,199 3.69%
    Over 100% 3 $12,465,000 $4,155,000 $0 2.83%
    Under 20% 11 $905,000 $82,273 $343 4.64%

    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)
    Cornerstone Bank 404 Gerrard Avenue Monroe, NE 68647 Full Service B&M $26,148
    Cornerstone Bank 409 A Street Hampton, NE 68843 Full Service B&M $11,392
    Cornerstone Bank 520 Lincoln Bradshaw, NE 68319 Full Service B&M $11,993
    Cornerstone Bank 528 Grant Avenue York, NE 68467 Limited, Drive-thru $0
    Cornerstone Bank 529 North Lincoln Avenue York, NE 68467 Full Service B&M $555,882
    Cornerstone Bank 404 W 1st St North Loup, NE 68859 Full Service B&M $20,190
    Cornerstone Bank 100 E. 2nd Street Tilden, NE 68781 Full Service B&M $50,988
    Cornerstone Bank 100 W. Sixth Street Davenport, NE 68335 Full Service B&M $26,163
    Cornerstone Bank 101 David Drive York, NE 68467 Full Service Retail $1,706
    Cornerstone Bank 101 West Elm Street Sutton, NE 68979 Full Service B&M $59,202
    Cornerstone Bank 102 West Main Street Murray, NE 68409 Full Service B&M $50,535
    Cornerstone Bank 102 West Sapp Wilcox, NE 68982 Full Service B&M $23,501
    Cornerstone Bank 103 S Brown Ave Clay Center, NE 68933 Full Service B&M $46,028
    Cornerstone Bank 1141 G Street Geneva, NE 68361 Full Service B&M $34,636
    Cornerstone Bank 119 C Street Shelton, NE 68876 Full Service B&M $38,410
    Cornerstone Bank 1206 13th Street Aurora, NE 68818 Full Service B&M $81,051
    Cornerstone Bank 133 Commercial Avenue Hildreth, NE 68947 Full Service B&M $27,561
    Cornerstone Bank 147 Center Avenue Malmo, NE 68040 Full Service B&M $30,521
    Cornerstone Bank 1502 M Street Franklin, NE 68939 Full Service B&M $45,971
    Cornerstone Bank 1631 16th Street Central City, NE 68826 Full Service B&M $48,348
    Cornerstone Bank 1727 23rd Street Columbus, NE 68601 Full Service B&M $33,313
    Cornerstone Bank 1730 Lincoln Avenue York, NE 68467 Limited, Drive-thru $0
    Cornerstone Bank 190 N Main Street Polk, NE 68654 Full Service B&M $20,802
    Cornerstone Bank 200 Main Street Saint Edward, NE 68660 Full Service B&M $44,060
    Cornerstone Bank 211 Rock Bluff Road Plattsmouth, NE 68048 Full Service B&M $11,068
    Cornerstone Bank 211 Winters Avenue Glenvil, NE 68941 Full Service B&M $6,894
    Cornerstone Bank 2250 North Diers Avenue Grand Island, NE 68803 Full Service Retail $3,599
    Cornerstone Bank 240 South 3rd Street Albion, NE 68620 Full Service B&M $133,671
    Cornerstone Bank 260 Garhan Avenue Rising City, NE 68658 Full Service B&M $14,262
    Cornerstone Bank 302 North Clay Avenue Harvard, NE 68944 Full Service B&M $33,305
    Cornerstone Bank 307 North C Street Edgar, NE 68935 Full Service B&M $16,587
    Cornerstone Bank 3304 16th Street Columbus, NE 68601 Full Service B&M $36,151
    Cornerstone Bank 3501 South Locust Street Grand Island, NE 68801 Full Service Retail $2,085
    Cornerstone Bank 3511 South Lincoln Avenue York, NE 68467 Full Service B&M $4,056
    Cornerstone Bank 400 Main Street Stromsburg, NE 68666 Full Service B&M $53,445
    Cornerstone Bank 401 East M Street Mccool Junction, NE 68401 Full Service B&M $13,101
    Cornerstone Bank 401 University Avenue Guide Rock, NE 68942 Full Service B&M $11,703
    Cornerstone Bank 402 Marquis Avenue Marquette, NE 68854 Full Service B&M $16,375
    Cornerstone Bank 604 Main Street Clearwater, NE 68726 Full Service B&M $28,632
    Cornerstone Bank 709 Peabody Avenue Creighton, NE 68729 Full Service B&M $9,784
    Cornerstone Bank 810 North Diers Avenue Suite H Grand Island, NE 68803 Full Service B&M $28,232
    Cornerstone Bank 818 East 23rd Street Columbus, NE 68601 Full Service Retail $2,467
    Cornerstone Bank 902 South Saunders Avenue Sutton, NE 68979 Limited, Drive-thru $0
    Cornerstone Bank 936 Main Street Henderson, NE 68371 Full Service B&M $35,966
    Cornerstone Bank Midland Street Waco, NE 68460 Full Service B&M $12,088
    Cornerstone Bank Third And Main Streets Bartlett, NE 68622 Full Service B&M $7,407

    For 2021, Cornerstone Bank had 46 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $72,883
    Net interest income $64,247
    Total noninterest income $17,307
    Gross Fiduciary activities income $2,649
    Service charges on deposit accounts $1,476
    Trading account gains and fees $0
    Additional Noninterest Income $13,182
    Pre-tax net operating income $25,074
    Securities gains (or losses, -) $279
    Income before extraordinary items $24,554
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $24,554
    Minority interest net income $0
    Net income $24,554
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $24,283

    Cornerstone Bank's gross interest income from loans was $72,883,000.
    Cornerstone Bank's net interest income from loans was $64,247,000.
    Cornerstone Bank's fee based income from loans was $1,476,000.
    Cornerstone Bank's net income from loans was $24,554,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,636
    Provision for credit losses $1,600
    Total noninterest expense $54,880
    Salaries and employee benefits $34,583
    Premises and equipment expense $5,624
    Additional noninterest expense $14,673
    Applicable income taxes $799
    Net charge-offs $930
    Cash dividends $13,800

    Cornerstone Bank's interest expense for loans was $8,636,000.
    Cornerstone Bank's payroll and benefits expense were $34,583,000.
    Cornerstone Bank's property, plant and equipment expenses $5,624,000.

    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 $1,853,001
    Deposits held in domestic offices $1,853,001
    Deposits by Individuals, partnerships, and corporations $1,479,121
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $307,494
    Deposits by Commercial banks and other depository institutions in U.S. $66,386
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $902,414
    Demand deposits $518,001
    Nontransaction accounts $950,587
    Money market deposit accounts (MMDAs) $339,760
    Other savings deposits (excluding MMDAs) $201,347
    Total time deposits $409,480
    Total time and savings deposits $1,335,000
    Noninterest-bearing deposits $431,789
    Interest-bearing deposits $1,421,212
    Retail deposits $1,718,673
    IRAs and Keogh plan accounts $48,042
    Brokered deposits $16,683
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,056,362
    Cash & Balances due from depository institutions $183,105
    Interest-bearing balances $130,323
    Total securities $416,800
    Federal funds sold & reverse repurchase $650
    Net loans and leases $1,374,355
    Loan and leases loss allowance $16,072
    Trading account assets $0
    Bank premises and fixed assets $31,230
    Other real estate owned $0
    Goodwill and other intangibles $13,376
    All other assets $36,846

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,056,362
    Total Liabilities $1,859,617
    Total deposits $1,853,001
    Interest-bearing deposits $1,421,212
    Deposits held in domestic offices $1,853,001
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $3,910
    Trading liabilities $0
    Other borrowed funds $175
    Subordinated debt $0
    All other liabilities $2,531

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,374,355
    Loan and leases loss allowance $16,072
    Total loans and leases (domestic) $1,390,427
    All real estate loans $669,109
    Real estate loans in domestic offices $669,109
    Construction and development loans $134,987
    Residential 1-4 family construction $8,842
    Other construction, all land development and other land $126,145
    Loans secured by nonfarm nonresidential properties $213,480
    Nonfarm nonresidential secured by owner-occupied properties $41,889
    Commercial real estate & other non-farm, non-residential $171,591
    Multifamily residential real estate $30,400
    1-4 family residential loans $55,699
    Farmland loans $234,543
    Loans held in foreign offices $0
    Farm loans $352,216
    Commercial and industrial loans $247,614
    To non-U.S. addressees $0
    Loans to individuals $24,135
    Credit card loans $0
    Related Plans $312
    Consumer Auto Loans $13,624
    Other loans to individuals $10,199
    All other loans & leases $97,353
    Loans to foreign governments and official institutions $0
    Other loans $88,490
    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 $5,236
    Non 1-4 family restructured loans & leases $5,236
    Total loans and leases (foreign) $0

    Cornerstone Bank had $1,374,355,000 of loans outstanding in 2021. $669,109,000 of loans were in real estate loans. $134,987,000 of loans were in development loans. $30,400,000 of loans were in multifamily mortgage loans. $55,699,000 of loans were in 1-4 family mortgage loans. $352,216,000 of loans were in farm loans. $0 of loans were in credit card loans. $13,624,000 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 229 $37,946 $165,703
    Nonfarm, nonresidential loans - <$100k 100 $3,652 $36,520
    Nonfarm, nonresidential loans - $100-250k 66 $8,021 $121,530
    Nonfarm, nonresidential loans - $250k-1MM 63 $26,273 $417,032
    Commercial & Industrial, US addressed loans - <$1MM 651 $57,803 $88,791
    Commercial & Industrial, US addressed loans - <$100k 427 $11,191 $26,208
    Commercial & Industrial, US addressed loans - $100-250k 128 $14,111 $110,242
    Commercial & Industrial, US addressed loans - $250k-1MM 96 $32,501 $338,552
    Farmland loans - <$1MM 388 $64,365 $165,889
    Farmland loans - <$100k 83 $3,751 $45,193
    Farmland loans - $100-250k 159 $20,382 $128,189
    Farmland loans - $250k-1MM 146 $40,232 $275,562
    Agriculture operations loans - <$1MM 820 $76,355 $93,116
    Agriculture operations loans - <$100k 422 $11,644 $27,592
    Agriculture operations loans - $100-250k 210 $22,744 $108,305
    Agriculture operations loans - $250k-1MM 188 $41,967 $223,229