CORNERSTONE COMUTY BANCRP - CRSB STOCK NEWS

Cornerstone Community Bancorp (CRSB) reported third-quarter financial results, showing a net income of $1.94 million, down from $2.09 million year-over-year. Diluted earnings per share decreased to $1.27 from $1.38. The net interest income rose to $5.20 million, up from $4.76 million a year earlier. However, non-interest income fell sharply to $265,000 from $652,000. The efficiency ratio increased to 49.42%, while total loans reached $400.5 million, an increase from $388.5 million. Shareholders’ equity declined to $30.6 million from $35.5 million year-over-year.

Cornerstone Community Bancorp (OTC Pink: CRSB) reported its second-quarter financial results for the period ended June 30, 2022. The company posted a net income of $1.706 million, a decline from $1.816 million year-over-year. Diluted earnings per share were $1.12, compared to $1.20 in the prior year. While net interest income increased to $4.605 million, non-interest income fell to $266,000. The return on average assets was 1.18%, and the efficiency ratio worsened to 49.80%. The total loans rose to $399.2 million, and total deposits increased to $539.6 million.

Cornerstone Community Bancorp (OTC Pink: CRSB) reported a net income of $1,675,000 for Q1 2022, down from $2,046,000 in Q1 2021. Diluted EPS fell to $1.09 from $1.38. The decline in PPP fees impacted revenues, while net interest income increased to $4,350,000. Non-interest income dropped significantly to $264,000 from $877,000. Total deposits grew to $532.3 million, up from $485.3 million, and total loans decreased to $375.4 million. The return on average assets was 1.15%, and the efficiency ratio rose to 48.61%. Shareholders’ equity increased to $33.7 million.

Cornerstone Community Bancorp (OTC Pink: CRSB) reported its financial results for Q4 and the full year ending December 31, 2021. Net income for Q4 was $1,967,000, down from $2,059,000 year-over-year, with diluted EPS at $1.29 compared to $1.36. For the full year, net income increased to a record $7,915,000 from $4,626,000, with diluted EPS rising to $5.25 from $3.04. Total loans reached $387.4 million and deposits $547.7 million, reflecting strong growth. The company announced plans to open a new branch in Anderson in Q1 2022.

Cornerstone Community Bancorp (OTC Pink: CRSB) has announced a leadership transition effective July 1, 2022. Jeffrey P. Finck will step into the role of Executive Chairman, while Matthew B. Moseley will become President and CEO. Finck has successfully led the bank since 2008, overseeing its growth from $500 million to over $560 million in assets. The bank was recognized as the top-performing bank in California through Q3 2021. Moseley has been with the bank since 2011, holding various executive roles that reflect his extensive industry expertise.

Cornerstone Community Bancorp (OTC Pink: CRSB) reported record net income of $2,085,000 for Q3 2021, up from $1,236,000 year-over-year. Diluted earnings per share rose to $1.38 from $0.81. The company achieved a return on average assets of 1.53% and a return on average equity of 23.52%. Net interest income climbed to $4,756,000 from $3,376,000, while non-interest income increased to $714,000. Total loans reached $388.5 million, and deposits totaled $500.1 million, reflecting growth from the previous year.

Cornerstone Community Bancorp (OTC Pink: CRSB) reported strong financial results for Q2 2021, with net income of $1,816,000, up from $1,284,000 year-over-year. Diluted EPS rose to $1.20 from $0.84. Key metrics included a return on average assets of 1.35% and a return on average equity of 22.17%. Net interest income increased to $4,239,000, and total loans reached $390.7 million, while deposits surged to $473.3 million. There were no nonperforming assets, highlighting robust asset quality and a strong balance sheet, with shareholders’ equity rising to $33.8 million.

Cornerstone Community Bancorp (OTC Pink: CRSB) reported impressive financial results for Q1 2021, with net income surging to $2,046,000 from $47,000 year-over-year. Diluted earnings per share improved to $1.38, up from $0.03. The return on average assets reached 1.56%, while return on average equity was 26.41%. Total loans rose to $382.3 million and deposits increased to $485.3 million, compared to $250.4 million and $268.0 million a year ago. The efficiency ratio also demonstrated improvement at 35.61% compared to 58.65% last year.

Cornerstone Community Bancorp (OTC Pink: CRSB) reported strong financial results for Q4 2020, with a net income of $2.06 million, up from $884,000 year-over-year. Diluted EPS rose to $1.36 from $0.58, showing robust performance. The bank's net interest income surged to $4.47 million driven by PPP fee recognition. For the year, net income reached $4.63 million, up from $3.45 million. However, a $1.6 million provision for credit losses was noted due to COVID-19 uncertainties. Assets and deposits showed significant growth, positioning the company favorably moving forward.