Cornerstone Community Bancorp Reports Loan Charge-Offs [Yahoo! Finance]
CORNERSTONE COMUTY BANCRP (CRSB)
NASDAQ:AMEX Investor Relations:
bankcornerstone.com/about-us/shareholder-information.html
Company Research
Source: Yahoo! Finance
agricultural loans in the aggregate amount of $9.4 million due to the deteriorating financial condition of the borrowers. This represents 100% of the Company's exposure. Although one of the loans is secured by certain equipment and all three loans have guarantors, any future recoveries cannot be reasonably predicted. As a result of these charge-offs, the Company recorded a $9.4 million provision for credit losses on loans. With the exception of the credits mentioned above, overall credit quality remains solid in the loan portfolio. The bank continues to maintain a strong capital position that exceeds well-capitalized regulatory requirements. About Cornerstone Community Bancorp Cornerstone Community Bancorp, a bank holding company headquartered in Red Bluff, California, serves the Red Bluff, Redding and Anderson communities through its wholly-owned subsidiary, Cornerstone Community Bank with a headquarters office in Red Bluff, two banking offices in Redding and one in Anderson. T
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