Cornerstone Community Bank Has 13th Straight Report Of Positive Earnings

Thursday, April 24, 2014

 Cornerstone Bancshares, Inc. (OTCBB: CSBQ; CSBQP), parent company of Cornerstone Community Bank, on Thursday reported net income of $412,000 for the first quarter of 2014. This marks the thirteenth consecutive quarter of positive earnings for Cornerstone.

 The report includes:

·         7.5 percent increase in loans

·         24.

9 percent reduction in non-accruing loans

·         1.4 percent increase in deposits

·         40.6 percent reduction in foreclosed assets

·         11.8 percent increase in market value per common share

“We continue to make great strides in strengthening the Bank and its solid earnings footprint,” said Cornerstone’s President and CEO Frank Hughes. “With a significant reduction in OREO, combined with strong growth in loans and deposits, Cornerstone can focus on our core competency of serving our local market and being Chattanooga’s premier community bank.”

 Cornerstone is a single-bank holding company, with approximately $430 million in assets, serving the Chattanooga, Tennessee MSA, with five branches throughout Chattanooga and one loan production office in Dalton, Ga. Locally owned and locally operated, Cornerstone specializes in providing a comprehensive range of customized financial solutions for businesses and individuals, officials said.


Dr. Shih-Lung Shaw To Speak At International Business Council Meeting

Dr. Shih-Lung Shaw, director of Confucius Institute and professor of geography at the University of Tennessee at Knoxville, will discuss the UT Confucius Institute: Enhancing the Learning of Chinese Language and Culture at the International Business Council’s upcoming meeting on Thursday, from 5:30–7 p.m. at The INCubator, at 100 Cherokee Blvd. International Business Council ... (click for more)

BlueCross BlueShield Of Tennessee Foundation To Endow WGU Tennessee Scholarship

BlueCross BlueShield of Tennessee Foundation will endow $10,000 in scholarship funds to WGU Tennessee, the state-endorsed, nonprofit online university launched last summer as part of Gov. Bill Haslam’s “Drive to 55” initiative, officials announced. “There’s a gap in the health care industry when it comes to medical analytics and nursing analytics professions in Tennessee,” said ... (click for more)

City, County Pull The Plug On Downtown Shooting Range

City and county officials have decided to keep the police firing range at Moccasin Bend rather than building an expensive new indoor facility at the former Farmers Market property. County Mayor Jim Coppinger said Sheriff Jim Hammond and new Police Chief Fred Fletcher met recently and decided to "pull the plug" on the project. He said officers felt that the Moccasin Bend range ... (click for more)

Reception Honors County's 2nd-Longest Serving Employee

General Sessions Court Judge Clarence Shattuck, at a County Courthouse reception, asked anyone who was working at the courthouse in 1966 to raise their hand. Only Circuit Court Clerk Paula Thompson was able to do so. Judge Shattuck said he believes only Edna Camp of the Criminal Court clerk's office, has been at the courthouse longer. Ms. Thompson did not seek re-election, ... (click for more)

Vote No On Health Insurance Changes Affecting County Teachers

Our Hamilton County School Board will vote on insurance changes effecting both active employees and retirees, who are not on Medicare at this time.  HCEA strongly objects to changes being made at this time and urges a “No” vote.  Insurance had been frozen three years by negotiations.  Since the Educators Professional Negotiations Act was nullified by the 2011 Legislature, ... (click for more)

Roy Exum: Al Sharpton’s Wise Remarks

I’ll admit I paid little more than scant attention to the Monday funeral of Michael Brown, the 18-year-old who was shot and killed by police bullets in Ferguson, Mo., after he allegedly was involved in strong-armed robbery. There are too many tawdry details and, in my way of thinking, there is nothing under God’s sun, absolutely nothing, that gives others the right to riot, burn ... (click for more)