Cornerstone Community Bank Mortgage Rates, Fees & Info

Grafton, WI

LEI: 549300Q7BO23YSZ45J73

Tax ID: 39-1674018

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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 Community Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Cornerstone Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Watertown, Sheboygan, Janesville, and Oshkosh among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cornerstone Community 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

    134

    Origination Dollar Volume (All Markets)

    $40,330,000

    Employee count

    34

    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
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 121 $37,835,000 $312,686 $0 0.00%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 3 $705,000 $235,000 $0 0.00%
    SHEBOYGAN, WI (FHA|USDA|VA) 3 $585,000 $195,000 $0 0.00%
    Outside of Metro Areas 2 $450,000 $225,000 $0 0.00%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    GREEN BAY, WI (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    FOND DU LAC, WI (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%
    Cornerstone Community Bank's top markets include Milwaukee, Watertown, Sheboygan, Janesville, and Oshkosh among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 134 $40,330,000 $300,970 $0 0.00%

    For 2019, Cornerstone Community Bank's most frequently originated type of loan was Conventional, with 134 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 46 $13,240,000 $287,826 $0 0.00%
    Cash Out Refi 35 $11,335,000 $323,857 $0 0.00%
    Home Purchase 31 $10,715,000 $345,645 $0 0.00%
    Home Improvement 20 $4,140,000 $207,000 $0 0.00%
    Other 2 $900,000 $450,000 $0 0.00%

    For 2019, Cornerstone Community Bank's most frequently cited loan purpose was Refi, with 46 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 134 $40,330,000 $300,970 $0 0.00%

    For 2019, Cornerstone Community Bank's most frequently cited loan duration was Other, with 134 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 65 $17,965,000 $276,385 $0 0.00%
    $100k-200k 39 $6,125,000 $157,051 $0 0.00%
    $100,000 or less 13 $935,000 $71,923 $0 0.00%
    $400k-600k 9 $4,205,000 $467,222 $0 0.00%
    $1MM+ 5 $8,375,000 $1,675,000 $0 0.00%
    $600k-1MM 3 $2,725,000 $908,333 $0 0.00%

    2019 saw Cornerstone Community Bank place emphasis on $200k-400k loans with 65 originations, totaling $17,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 34 $8,870,000 $260,882 $0 0.00%
    $150k-250k 24 $6,790,000 $282,917 $0 0.00%
    $75k-100k 17 $3,715,000 $218,529 $0 0.00%
    $50k-75k 16 $2,860,000 $178,750 $0 0.00%
    $250k+ 8 $2,640,000 $330,000 $0 0.00%
    $50k or less 8 $1,100,000 $137,500 $0 0.00%

    Cornerstone Community Bank lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $150k-250k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 134 $40,330,000 $300,970 $0 0.00%

    Cornerstone Community Bank lent most frequently to those with DTI ratios of Exempt%, with 134 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 98 $23,670,000 $241,531 $0 0.00%
    Not applicable 24 $13,940,000 $580,833 $0 0.00%
    Not provided 11 $2,435,000 $221,364 $0 0.00%
    Asian Indian 1 $285,000 $285,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.08%

    Cornerstone Community 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
    93.28%

    Cornerstone Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 134 $40,330,000 $300,970

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $12,290,000 $1,024,167
    Single Family (1-4 Units):Site-Built 122 $28,040,000 $229,836

    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 Community Bank 2090 Wisconsin Avenue Grafton, WI 53024 Full Service B&M $107,434
    Cornerstone Community Bank N91 W17231 Appleton Avenue Menomonee Falls, WI 53051 Full Service B&M $59,924

    For 2019, Cornerstone Community Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,764
    Net interest income $7,767
    Total noninterest income $803
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $75
    Trading account gains and fees $0
    Additional Noninterest Income $728
    Pre-tax net operating income $3,239
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,372
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,372
    Minority interest net income $0
    Net income $2,372
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,372

    Cornerstone Community Bank's gross interest income from loans was $9,764,000.
    Cornerstone Community Bank's net interest income from loans was $7,767,000.
    Cornerstone Community Bank's fee based income from loans was $75,000.
    Cornerstone Community Bank's net income from loans was $2,372,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,997
    Provision for credit losses $195
    Total noninterest expense $5,136
    Salaries and employee benefits $3,466
    Premises and equipment expense $381
    Additional noninterest expense $1,289
    Applicable income taxes $867
    Net charge-offs $-4
    Cash dividends $960

    Cornerstone Community Bank's interest expense for loans was $1,997,000.
    Cornerstone Community Bank's payroll and benefits expense were $3,466,000.
    Cornerstone Community Bank's property, plant and equipment expenses $381,000.

    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 $180,232
    Deposits held in domestic offices $180,232
    Deposits by Individuals, partnerships, and corporations $136,138
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $20,103
    Deposits by Commercial banks and other depository institutions in U.S. $23,991
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $60,089
    Demand deposits $50,748
    Nontransaction accounts $120,143
    Money market deposit accounts (MMDAs) $71,612
    Other savings deposits (excluding MMDAs) $5,611
    Total time deposits $42,921
    Total time and savings deposits $129,484
    Noninterest-bearing deposits $50,748
    Interest-bearing deposits $129,484
    Retail deposits $173,050
    IRAs and Keogh plan accounts $4,144
    Brokered deposits $3,045
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $215,211
    Cash & Balances due from depository institutions $19,020
    Interest-bearing balances $11,204
    Total securities $107
    Federal funds sold & reverse repurchase $10,500
    Net loans and leases $176,281
    Loan and leases loss allowance $2,858
    Trading account assets $903
    Bank premises and fixed assets $2,175
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,225

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $215,211
    Total Liabilities $195,920
    Total deposits $180,232
    Interest-bearing deposits $129,484
    Deposits held in domestic offices $180,232
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $12,500
    Subordinated debt $0
    All other liabilities $3,188

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $176,281
    Loan and leases loss allowance $2,858
    Total loans and leases (domestic) $179,139
    All real estate loans $160,757
    Real estate loans in domestic offices $160,757
    Construction and development loans $7,793
    Residential 1-4 family construction $3,807
    Other construction, all land development and other land $3,986
    Loans secured by nonfarm nonresidential properties $96,924
    Nonfarm nonresidential secured by owner-occupied properties $57,470
    Commercial real estate & other non-farm, non-residential $39,454
    Multifamily residential real estate $28,110
    1-4 family residential loans $25,932
    Farmland loans $1,998
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $17,165
    To non-U.S. addressees $0
    Loans to individuals $187
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $34
    Other loans to individuals $153
    All other loans & leases $1,030
    Loans to foreign governments and official institutions $0
    Other loans $690
    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 $588
    Non 1-4 family restructured loans & leases $537
    Total loans and leases (foreign) $0

    Cornerstone Community Bank had $176,281,000 of loans outstanding in 2019. $160,757,000 of loans were in real estate loans. $7,793,000 of loans were in development loans. $28,110,000 of loans were in multifamily mortgage loans. $25,932,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $34,000 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 131 $41,440 $316,336
    Nonfarm, nonresidential loans - <$100k 12 $598 $49,833
    Nonfarm, nonresidential loans - $100-250k 36 $4,655 $129,306
    Nonfarm, nonresidential loans - $250k-1MM 83 $36,187 $435,988
    Commercial & Industrial, US addressed loans - <$1MM 150 $13,783 $91,887
    Commercial & Industrial, US addressed loans - <$100k 83 $2,977 $35,867
    Commercial & Industrial, US addressed loans - $100-250k 43 $4,814 $111,953
    Commercial & Industrial, US addressed loans - $250k-1MM 24 $5,992 $249,667
    Farmland loans - <$1MM 4 $1,283 $320,750
    Farmland loans - $250k-1MM 4 $1,283 $320,750