Cornerstone Bank Announces LPO in Southwest Missouri

Eureka Springs-based Cornerstone Bank is entering the southwest Missouri market.

Cornerstone president and CEO Charlie Cross said the bank will open a loan production office in Shell Knob near Table Rock Lake, approximately 30 miles from its Eureka Springs headquarters.

The office has received the necessary regulatory approval and will open within 60 days, Cross said.

“This market is one that we have a keen interest in pursuing, as we feel with its proximity to some of our current locations and with existing clients already within the area, we can begin to develop our presence there,” Cross said in a news release. “We certainly have ambitions to eventually expand to other parts of southwest Missouri moving forward and feel confident we will do so in the future.”

Cornerstone currently has offices in Eureka Springs (2), Berryville and Holiday Island in Carroll County. The bank is also building a full-service branch on Highway 412 in Huntsville near a new Walmart Supercenter. Bob Rawson, the market president for Arvest Bank in Huntsville the last nine years, was recently hired by Cornerstone to lead the bank’s entry into Madison County.

Cross said that, until construction of the Huntsville branch is completed later this summer, a temporary office will open in the coming weeks.

Cornerstone posted total assets of $167 million in 2014 — a 71 percent increase in the last decade — and income of $3.39 million. It had 2.08 percent return on assets.
Chartered May 4, 1912, the private bank changed its name from Bank of Eureka Springs in 2008