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Other Comprehensive Income
 3 Months Ended
Mar. 31, 2012
Stockholders Equity Note [Abstract]  
Comprehensive Income (Loss) Note [Text Block]

Note 7. Other Comprehensive Income

 

Other comprehensive income consists of unrealized holding gains and losses on securities available for sale. The following is a summary of other comprehensive income for the three months ended March 31, 2012 and 2011.

 

    Three Months Ended  
    March 31,  
    2012     2011  
Net income   $ 356,517     $ 252,275  
Unrealized holding gains (losses) on securities available for sale, net of reclassification     (37,980 )     346,702  
                 
Comprehensive income   $ 318,537     $ 598,977  

 

Cornerstone Bancshares, Inc. and Subsidiary

Net Interest Margin Analysis

Taxable Equivalent Basis

 

(Amounts in thousands)   Three months ended
March 31		  
    2012     2011  
    Average     Income/     Yield/     Average     Income/     Yield/  
    Balance     Expense     Rate     Balance     Expense     Rate  
Assets                                                
Earning assets:                                                
Loans, net of unearned income   $ 265,814     $ 4,144       6.27 %   $ 284,297     $ 4,639       6.62 %
Investment securities     88,641       467       2.43 %     109,844       568       2.41 %
Other earning assets     23,880       15       0.25 %     24,122       11       0.18 %
Total earning assets     378,335     $ 4,626       4.99 %     418,263     $ 5,218       5.14 %
Allowance for loan losses     (7,121 )                     (9,071 )                
Cash and other assets     37,497                       28,629                  
TOTAL ASSETS   $ 408,711                     $ 437,821                  
                                                 
Liabilities and Shareholders' Equity                                                
                                                 
Interest-bearing liabilities:                                                
Interest-bearing demand deposits   $ 24,891     $ 21       0.34 %   $ 27,590     $ 21       0.31 %
Savings deposits     9,859       10       0.40 %     9,499       12       0.51 %
MMDA's     39,373       91       0.93 %     24,437       60       1.00 %
Time deposits     195,111       699       1.44 %     244,021       1,052       1.75 %
Federal funds purchased and securities sold under agreements to repurchase     26,291       32       0.49 %     22,625       31       0.56 %
Federal Home Loan Bank and other borrowings     42,634       461       4.35 %     54,356       580       4.33 %
Total interest-bearing liabilities     338,159       1,314       1.56 %     382,528       1,756       1.86 %
Net interest spread           $ 3,312       3.43 %           $ 3,462       3.28 %
Noninterest-bearing demand deposits     34,479                       28,964                  
Accrued expenses and other liabilities     486                       (354 )                
Shareholders' equity     35,587                       26,683                  
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY   $ 408,711                     $ 437,821                  
Net yield on earning assets                     3.59 %                     3.44 %
                                                 
Taxable equivalent adjustment:                                                
Loans             -                       -          
Investment securities             68                       85          
Total adjustment             68                       85