First CornerStone Bank
King Of Prussia, PA
$103M
total assets, March 31, 2016
$103M
total assets, March 31, 2016
First CornerStone Bank was a state nonmember bank in King Of Prussia, PA. It failed on May 6, 2016, and First-citizens Bank & Trust Company took over its deposits. At its last report it held $103.3 million in assets.
Updated Oct 11, 2026 · numbers as of March 31, 2016
This bank failed
- Failed on
- May 6, 2016
- Assets
- $103M
- Deposits
- $101M
- Estimated cost
- $10.8M
- Deposits went to
- First-citizens Bank & Trust Company, Raleigh, NC
Total assets
$103M
-10.1% in a year · -3.5% in a quarter
Deposits
$101M
-7.3% in a year · -2.7% in a quarter
Loans
$50.4M
-20.4% in a year · -3.7% in a quarter
Profit so far
-$1.1M
Jan 1 to Mar 31, 2016
Capital ratio
2.00%
-3.03 pts in a year
Return on assets
-4.37%
-0.99 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 1004 West Ninth Avenue, King Of Prussia, PA, 19406
- County
- Montgomery
- Established
- Mar 20, 2000
- Failed
- May 6, 2016
- Employees
- 26
- Branches
- 6
- Id
- b35312
Quarter by quarter
March 31, 2000 to March 31, 2016
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is First CornerStone Bank?
$103.3 million in total assets and $101.0 million in deposits as of March 31, 2016, with assets down 10.1% from a year before. Its loans were $50.4 million.
How many branches does First CornerStone Bank have?
6 branches in Pennsylvania as of June 30, 2026.
Is First CornerStone Bank profitable?
No: it lost $1.15 million from January 1 to March 31, 2016. Its return on assets was -4.37% a year; about 1% is typical.
When did First CornerStone Bank fail?
May 6, 2016. First-citizens Bank & Trust Company of Raleigh, NC took over its deposits. The estimated cost of the failure was $10.8 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.