XML 33 R11.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Stock Based Compensation | 9 Months Ended
--- | ---
Sep. 30, 2013
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 2. Stock Based Compensation Accounting Policies- Cornerstone, as required by FASB, applies the fair value recognition provisions of ASC 718, Compensation –Stock Compensation. As a result, for the nine month period ended September 30, 2013, the compensation cost charged to earnings related to the vested incentive stock options was approximately $97,000, which had no material impact on earnings per share. Officer and Employee Plans-Cornerstone has two stock option plans under which officers and employees can be granted incentive stock options or non-qualified stock options to purchase a total of up to 1,420,000 shares of Cornerstone’s common stock. The exercise price for incentive stock options must be not less than 100 percent of the fair market value of the common stock on the date of the grant. The exercise price of the non-qualified stock options may be equal to or more or less than the fair market value of the common stock on the date of the grant. The incentive stock options vest 30 percent on the second anniversary of the grant date, 60 percent on the third anniversary of the grant date and 100 percent on the fourth anniversary of the grant date, and the non-qualified stock options vest 50 percent on the first anniversary of the grant date and 100 percent on the second anniversary of the grant date. The options expire ten years from the grant date. At September 30, 2013, the total remaining compensation cost to be recognized on non-vested options is approximately $519,000. A summary of the status of these stock option plans is presented in the following table:
|  |  |  |  |  |  | Weighted- |  |  |  |
|  |  |  |  |  |  | Average |  |  |  |
|  |  |  | Weighted |  | Contractual |  |  |  |
|  |  |  | Average |  | Remaining |  | Aggregate |
|  |  |  | Exercisable |  | Term |  | Intrinsic |
|  | Number |  | Price |  | (in years) |  | Value |
Outstanding at December 31, 2012 |  | 670,300 |  | $ | 3.86 |  | 6.2 Years |  | $ | 232,900 |
Granted |  | 203,000 |  |  | 2.37 |  | 9.4 Years |  |  |  |
Exercised |  | - |  |  | - |  |  |  |  |  |
Forfeited |  | (57,475) |  |  | (3.51) |  |  |  |  |  |
Outstanding at September 30, 2013 |  | 815,825 |  | $ | 3.51 |  | 6.8 Years |  | $ | 207,030 |
Options exercisable at September 30, 2013 |  | 305,525 |  | $ | 6.13 |  |  |  |  |  |
Board of Directors Plan-Cornerstone has a stock option plan under which members of the Board of Directors, at the formation of the Bank, were granted options to purchase a total of up to 600,000 shares of the Bank's common stock. On October 15, 1997, the Bank stock options were converted to Cornerstone stock options. Only non-qualified stock options may be granted under the plan. The exercise price of each option equals the market price of Cornerstone’s stock on the date of grant and the maximum term is ten years. Vesting is 50 percent on the first anniversary of the grant date and 100 percent on the second anniversary of the grant date. At September 30, 2013, the total remaining compensation cost to be recognized on non-vested options is approximately $97,000. A summary of the status of this stock option plan is presented in the following table:
|  |  |  |  |  |  | Weighted- |  |  |  |
|  |  |  |  |  |  | Average |  |  |  |
|  |  |  | Weighted |  | Contractual |  |  |  |
|  |  |  | Average |  | Remaining |  | Aggregate |
|  |  |  | Exercisable |  | Term |  | Intrinsic |
|  | Number |  | Price |  | (in years) |  | Value |
Outstanding at December 31, 2012 |  | 145,250 |  | $ | 3.30 |  | 7.2 Years |  | $ | 57,600 |
Granted |  | 45,000 |  |  | 2.37 |  | 9.4 Years |  |  |  |
Exercised |  | - |  |  | - |  |  |  |  |  |
Forfeited |  | - |  |  | - |  |  |  |  |  |
Outstanding at September 30, 2013 |  | 190,250 |  | $ | 3.08 |  | 7.1 Years |  | $ | 52,200 |
Options exercisable at September 30, 2013 |  | 100,250 |  | $ | 4.04 |  |  |  |  |  |
The weighted average grant date fair value of all stock options granted during the nine months ended September 30, 2013 was $1.17. This was determined using the Black-Scholes option-pricing model with the following weighted-average assumptions:
Dividend yield |  | 0.0 | %
Expected life |  | 7.0 Years |
Expected volatility |  | 47.60 | %
Risk-free interest rate |  | 1.23 | %

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration