Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liabilities recorded at fair value on a recurring basis are as follows.

			Quoted Prices in		Significant		Significant
			Active Markets		Other		Other
	Balance as of		for Identical		Observable		Unobservable
	September 30,		Assets		Inputs		Inputs
	2013		(Level 1)		(Level 2)		(Level 3)
Debt securities available for sale:
U.S. Government agencies	$	3,528,345	$	-	$	3,528,345	$	-
State and municipal securities		17,694,356		-		17,694,356		-
Mortgage-backed securities:
Residential mortgage loans guaranteed by GNMA or FNMA		7,903,524		-		7,903,524		-
Collateralized mortgage obligations issued or guaranteed by U.S. Government agencies or sponsored agencies		66,156,191		-		66,156,191		-

Total securities available for sale	$	95,282,416	$	-	$	95,282,416	$	-

Cash surrender value of life insurance	$	1,224,437	$	-	$	1,224,437	$	-

			Quoted Prices in		Significant		Significant
			Active Markets		Other		Other
	Balance as of		for Identical		Observable		Unobservable
	December 31,		Assets		Inputs		Inputs
	2012		(Level 1)		(Level 2)		(Level 3)
Debt securities available for sale:

U.S. Government agencies	$	4,018,151	$	-	$	4,018,151	$	-
State and municipal securities		23,633,317		-		23,633,317		-
Mortgage-backed securities:
Residential mortgage loans guaranteed by GNMA or FNMA		9,222,419		-		9,222,419		-
Collateralized mortgage obligations issued or guaranteed by U.S. Government agencies or sponsored agencies		39,222,759		-		39,222,759		-

Total securities available for sale	$	76,096,646	$	-	$	76,096,646	$	-

Cash surrender value of life insurance	$	1,199,725	$	-	$	1,199,725	$	-

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

The tables below present information about assets and liabilities on the balance sheet at September 30, 2013 and December 31, 2012 for which a nonrecurring change in fair value was recorded (amounts in thousands).

			Quoted Prices in		Significant		Significant
			Active Markets		Other		Other
	Balance as of		for Identical		Observable		Unobservable
	September 30,		Assets		Inputs		Inputs
	2013		(Level 1)		(Level 2)		(Level 3)
Impaired loans	$	3,267	$	-	$	3,267	$	-
Foreclosed assets (OREO & Repossessions)		14,924		-		14,924		-

			Quoted Prices in		Significant		Significant
			Active Markets		Other		Other
	Balance as of		for Identical		Observable		Unobservable
	December 31,		Assets		Inputs		Inputs
	2012		(Level 1)		(Level 2)		(Level 3)
Impaired loans	$	4,869	$	-	$	4,869	$	-
Foreclosed assets (OREO & Repossessions)		20,332		-		20,332		-

Fair Value, by Balance Sheet Grouping [Table Text Block]

The carrying amount and estimated fair value of Cornerstone's financial instruments at September 30, 2013 and December 31, 2012 are as follows (in thousands):

	September 30, 2013				December 31, 2012
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value
Assets:
Cash and cash equivalents	$	21,255	$	21,255	$	59,395	$	59,395
Securities		95,319		95,320		76,142		76,143
Federal Home Loan Bank stock		2,323		2,323		2,323		2,323
Loans, net		281,022		281,403		270,850		271,128
Cash surrender value of life insurance		1,224		1,224		1,200		1,200
Accrued interest receivable		1,222		1,222		1,214		1,214

Liabilities:
Noninterest-bearing demand deposits		54,452		54,452		60,054		60,054
Interest-bearing demand deposits		25,464		25,464		30,179		30,179
Savings deposits and money market accounts		90,666		90,666		80,994		80,994
Time deposits		170,174		171,541		173,654		175,177
Federal funds purchased and securities sold under agreements to repurchase		20,509		20,509		19,587		19,587
Federal Home Loan Bank advances and other borrowings		26,740		26,740		37,175		37,175
Accrued interest payable		100		100		121		121

Unrecognized financial instruments (net of contract amount):
Commitments to extend credit		-		-		-		-
Letters of credit		-		-		-		-
Lines of credit		-		-		-		-

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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