The Graveyard › Banks › 1994

Cornerstone Bank, FSB

Mission Viejo, CA · failed December 16, 1994 · FDIC certificate 32374

Cornerstone Bank, FSB of Mission Viejo, CA failed on December 16, 1994. It opened on August 22, 1985, 9 years before. At its last report before that it held $44.3 million in assets and $38.4 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1989, it held $70.0 million. The FDIC estimates that the Resolution Trust Corporation lost $4.0 million on it.

1985-091994-09

Assets at the end$44.3 millionlast report before December 16, 1994

Deposits at the end$38.4 million

Estimated loss to the fund$4.0 millionRTC

Largest in the quarterly reports$70.0 millionJune 30, 1989

Equity to assets-1.1%September 30, 1994

Loans not being repaid14.5%noncurrent, September 30, 1994

Return on assets-9.90%a year's rate, September 30, 1994

Staff9full time, September 30, 1994

On the FDIC's list: CORNERSTONE BANK FSB.

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Also ended in 1994

The Bank of Hartford · Hartford, CT · $321.5 million in assets
Ludlow Savings Bank · Ludlow, MA · $222.7 million in assets
Bank of Newport · Newport Beach, CA · $167.8 million in assets
Mechanics National Bank · Paramount, CA · $148.7 million in assets
CommerceBank · Newport Beach, CA · $142.3 million in assets
Pioneer Bank · Fullerton, CA · $133.3 million in assets

History, not advice.

Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.