Company Description
Cornerstone Financial Corporation (CFIC) is a New Jersey-based bank holding company that is the parent company of Cornerstone Bank. The company recently announced a definitive merger agreement with Princeton Bancorp, valued at approximately $17.9 million. Cornerstone Bank has assets of $321 million, $276 million in loans, $290 million in deposits, and $23.8 million in common stockholders' equity. With operations since 1999, the bank has six branch offices around New Jersey.
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Frequently Asked Questions
What is the current stock price of Cornerstone Fina (CFIC)?
The current stock price of Cornerstone Fina (CFIC) is $6.72 as of February 7, 2025.
What is Cornerstone Financial Corporation?
Cornerstone Financial Corporation is a New Jersey-based bank holding company and the parent company of Cornerstone Bank.
What is the recent merger agreement involving Cornerstone Financial?
Cornerstone Financial recently announced a merger agreement with Princeton Bancorp valued at approximately $17.9 million.
What are the assets of Cornerstone Bank?
Cornerstone Bank has approximately $321 million in assets, $276 million in loans, $290 million in deposits, and $23.8 million in common stockholders' equity.
How long has Cornerstone Bank been in operation?
Cornerstone Bank has been in operation since October 1999 and has six branch offices located around New Jersey.
What is the core business of Cornerstone Financial Corporation?
Cornerstone Financial Corporation's core business is operating as a bank holding company with a focus on commercial banking.
Who is involved in the management of Cornerstone Financial Corporation?
Edward J. Dietzler serves as the President and CEO of Princeton Bancorp, and Gene D'Orazio serves as the President and CEO of Cornerstone Bank.
What are the key financial figures of Cornerstone Bank?
Cornerstone Bank has $321 million in assets, $276 million in loans, $290 million in deposits, and $23.8 million in common stockholders' equity as of the latest data available.
Where are the main offices of Cornerstone Bank located?
Cornerstone Bank's main office is in Moorestown, New Jersey, and it has five additional branch offices in Medford, Burlington City, Cherry Hill, Voorhees, and Woodbury.
What is the significance of the merger agreement with Princeton Bancorp for Cornerstone Financial Corporation?
The merger agreement with Princeton Bancorp presents an opportunity for Cornerstone Financial to enhance its long-term profitability metrics and earnings growth rate.
How does Cornerstone Financial Corporation plan to benefit from the merger?
Cornerstone Financial Corporation anticipates benefits from expanded financial products, resources, full-service bank locations, and growth opportunities by joining Princeton Bancorp.