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 and Cash Out Refi loans. Cornerstone Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Madison, Minneapolis, Racine, and Sheboygan among others. We have data for 9 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

    230

    Origination Dollar Volume (All Markets)

    $55,920,000

    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) 207 $50,825,000 $245,531 $0 0.00%
    Outside of Metro Areas 9 $1,715,000 $190,556 $0 0.00%
    MADISON, WI (FHA|USDA|VA) 3 $1,115,000 $371,667 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $695,000 $231,667 $0 0.00%
    RACINE, WI (FHA|USDA|VA) 2 $640,000 $320,000 $0 0.00%
    SHEBOYGAN, WI (FHA|USDA|VA) 3 $315,000 $105,000 $0 0.00%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    GREEN BAY, WI (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Cornerstone Community Bank's top markets include Milwaukee, Madison, Minneapolis, Racine, and Sheboygan among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 230 $55,920,000 $243,130 $0 0.00%

    For 2020, Cornerstone Community Bank's most frequently originated type of loan was Conventional, with 230 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 110 $24,230,000 $220,273 $0 0.00%
    Cash Out Refi 81 $20,485,000 $252,901 $0 0.00%
    Home Purchase 24 $7,380,000 $307,500 $0 0.00%
    Home Improvement 11 $2,735,000 $248,636 $0 0.00%
    Other 4 $1,090,000 $272,500 $0 0.00%

    For 2020, Cornerstone Community Bank's most frequently cited loan purpose was Refi, with 110 originations. The 2nd most popular reason was Cash Out Refi, with 81 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 230 $55,920,000 $243,130 $0 0.00%

    For 2020, Cornerstone Community Bank's most frequently cited loan duration was Other, with 230 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 109 $29,935,000 $274,633 $0 0.00%
    $100k-200k 80 $12,380,000 $154,750 $0 0.00%
    $400k-600k 20 $9,540,000 $477,000 $0 0.00%
    $100,000 or less 19 $1,585,000 $83,421 $0 0.00%
    $1MM+ 1 $1,805,000 $1,805,000 $0 0.00%
    $600k-1MM 1 $675,000 $675,000 $0 0.00%

    2020 saw Cornerstone Community Bank place emphasis on $200k-400k loans with 109 originations, totaling $29,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 51 $12,035,000 $235,980 $0 0.00%
    $150k-250k 42 $12,430,000 $295,952 $0 0.00%
    $50k-75k 41 $7,325,000 $178,659 $0 0.00%
    $75k-100k 33 $7,145,000 $216,515 $0 0.00%
    $50k or less 16 $2,150,000 $134,375 $0 0.00%
    $250k+ 15 $5,505,000 $367,000 $0 0.00%

    Cornerstone Community Bank lent most frequently to those with incomes in the $100k-150k range, with 51 originations. The second most popular income band? $150k-250k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 230 $55,920,000 $243,130 $0 0.00%

    Cornerstone Community Bank lent most frequently to those with DTI ratios of Exempt%, with 230 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 192 $44,390,000 $231,198 $0 0.00%
    Not applicable 20 $6,580,000 $329,000 $0 0.00%
    Not provided 14 $3,680,000 $262,857 $0 0.00%
    Black 1 $675,000 $675,000 $0 0.00%
    Asian 2 $520,000 $260,000 $0 0.00%
    Asian Indian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.44%

    Cornerstone Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.30%

    Cornerstone Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 230 $55,920,000 $243,130

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $4,185,000 $597,857
    Single Family (1-4 Units):Site-Built 223 $51,735,000 $231,996

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CORNERSTONE MORTGAGE, INC. Conventional home mortgage Incorrect information on your report 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Cornerstone Community Bank 1155 E Commerce Blvd Slinger, WI 53086 Full Service B&M $8,803
    Cornerstone Community Bank 2090 Wisconsin Avenue Grafton, WI 53024 Full Service B&M $102,194
    Cornerstone Community Bank N91 W17231 Appleton Avenue Menomonee Falls, WI 53051 Full Service B&M $73,314

    For 2020, Cornerstone Community Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,836
    Net interest income $9,462
    Total noninterest income $1,692
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $60
    Trading account gains and fees $0
    Additional Noninterest Income $1,632
    Pre-tax net operating income $5,581
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,070
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,070
    Minority interest net income $0
    Net income $4,070
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,070

    Cornerstone Community Bank's gross interest income from loans was $10,836,000.
    Cornerstone Community Bank's net interest income from loans was $9,462,000.
    Cornerstone Community Bank's fee based income from loans was $60,000.
    Cornerstone Community Bank's net income from loans was $4,070,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,374
    Provision for credit losses $225
    Total noninterest expense $5,348
    Salaries and employee benefits $3,752
    Premises and equipment expense $386
    Additional noninterest expense $1,210
    Applicable income taxes $1,511
    Net charge-offs $-309
    Cash dividends $2,390

    Cornerstone Community Bank's interest expense for loans was $1,374,000.
    Cornerstone Community Bank's payroll and benefits expense were $3,752,000.
    Cornerstone Community Bank's property, plant and equipment expenses $386,000.

    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 $186,017
    Deposits held in domestic offices $186,017
    Deposits by Individuals, partnerships, and corporations $161,752
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $13,034
    Deposits by Commercial banks and other depository institutions in U.S. $11,231
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $74,505
    Demand deposits $64,341
    Nontransaction accounts $111,512
    Money market deposit accounts (MMDAs) $72,851
    Other savings deposits (excluding MMDAs) $9,444
    Total time deposits $29,217
    Total time and savings deposits $121,676
    Noninterest-bearing deposits $64,341
    Interest-bearing deposits $121,676
    Retail deposits $181,202
    IRAs and Keogh plan accounts $3,908
    Brokered deposits $1,045
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $228,089
    Cash & Balances due from depository institutions $5,780
    Interest-bearing balances $1,730
    Total securities $105
    Federal funds sold & reverse repurchase $4,291
    Net loans and leases $206,705
    Loan and leases loss allowance $3,392
    Trading account assets $1,134
    Bank premises and fixed assets $2,193
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $7,881

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $228,089
    Total Liabilities $206,618
    Total deposits $186,017
    Interest-bearing deposits $121,676
    Deposits held in domestic offices $186,017
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $16,500
    Subordinated debt $0
    All other liabilities $4,101

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $206,705
    Loan and leases loss allowance $3,392
    Total loans and leases (domestic) $210,097
    All real estate loans $179,152
    Real estate loans in domestic offices $179,152
    Construction and development loans $9,484
    Residential 1-4 family construction $6,704
    Other construction, all land development and other land $2,780
    Loans secured by nonfarm nonresidential properties $116,846
    Nonfarm nonresidential secured by owner-occupied properties $64,839
    Commercial real estate & other non-farm, non-residential $52,007
    Multifamily residential real estate $25,248
    1-4 family residential loans $25,633
    Farmland loans $1,941
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $29,810
    To non-U.S. addressees $0
    Loans to individuals $370
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $30
    Other loans to individuals $340
    All other loans & leases $764
    Loans to foreign governments and official institutions $0
    Other loans $424
    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 $47
    Non 1-4 family restructured loans & leases $47
    Total loans and leases (foreign) $0

    Cornerstone Community Bank had $206,705,000 of loans outstanding in 2020. $179,152,000 of loans were in real estate loans. $9,484,000 of loans were in development loans. $25,248,000 of loans were in multifamily mortgage loans. $25,633,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $30,000 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 138 $46,528 $337,159
    Nonfarm, nonresidential loans - <$100k 13 $482 $37,077
    Nonfarm, nonresidential loans - $100-250k 35 $4,733 $135,229
    Nonfarm, nonresidential loans - $250k-1MM 90 $41,313 $459,033
    Commercial & Industrial, US addressed loans - <$1MM 139 $13,409 $96,468
    Commercial & Industrial, US addressed loans - <$100k 80 $2,754 $34,425
    Commercial & Industrial, US addressed loans - $100-250k 37 $3,641 $98,405
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $7,014 $318,818
    Farmland loans - <$1MM 5 $1,941 $388,200
    Farmland loans - $250k-1MM 5 $1,941 $388,200