Cornerstone Community Bancorp Named to American Banker Magazine Top 200 Publicly Traded Community Banks as 6th strongest community bank in the nation
Cornerstone Community Bancorp Named to American Banker Magazine Top 200 Publicly Traded Community Banks as 6th strongest community bank in the nation.
RED BLUFF, Calif., June 14, 2023 (GLOBE NEWSWIRE) -- Cornerstone Community Bancorp (“Cornerstone” or the “Company”), (OTC Pink: CRSB), parent company of Cornerstone Community Bank (the “Bank”), announced its inclusion in American Banker magazine’s annual list of Top 200 Publicly Traded Community Banks and Thrifts under $2.0 billion in asset size.
In its June 12, 2023 article, American Banker ranked Cornerstone Community Bank 6th on its Top 200 Publicly Traded Community Banks and Thrifts list based on three-year average return on equity (“ROE”) as of 12/31/2022 (Source: Capital Performance Group). The rankings include publicly-traded banks and thrifts with less than $2 billion in assets.
“American Banker is a well-known and highly respected industry publication and we are incredibly proud to be highly rated among our peers,” said Matt Moseley, Chief Executive Officer. “Being listed in the Top 200 is a great accomplishment but being rated in the top ten as number 6 is truly outstanding. Our dedicated team continues to work diligently day in and day out to benefit our customers, our community and our shareholders.”
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 a banking office in Anderson. The Bank provides consumer, agriculture and commercial banking services to small and mid-size businesses, including professional service firms, real estate developers and investors and not-for-profit organizations and to their owners and other individuals. Additional information about the Bank is available on its website at www.bankcornerstone.com
Forward-Looking Statements This release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative, and regulatory issues that may impact Cornerstone Community Bancorp's earnings in future periods. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “intend,” “estimate” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” Factors that could cause future results to vary materially from current management expectations include, but are not limited to, natural disasters (such as wildfires and earthquakes), pandemics such as COVID-19 and the economic impact caused directly by the disease and by government responses thereto, general economic conditions, economic uncertainty in the United States and abroad, changes in interest rates, deposit flows, real estate values, costs or effects of acquisitions, competition, changes in accounting principles, policies or guidelines, legislation or regulation (including the Tax Cuts & Jobs Act of 2017 and the Coronavirus Aid, Relief and Economic Security Act of 2021), interruptions of utility service in our markets for sustained periods, and other economic, competitive, governmental, regulatory and technological factors (including external fraud and cybersecurity threats) affecting Cornerstone Community Bancorp's operations, pricing, products and services. Forward-looking statements speak only as of the date they are made. Except as required by law, Cornerstone Community Bancorp does not undertake to update forward-looking statements to reflect subsequent circumstances or events.