Eureka Springs lender Cornerstone Bank starts home loan division
Eureka Springs-based Cornerstone Bank has a formed its own residential mortgage division. Cornerstone Home Mortgage will be housed at the lender’s Berryville branch in Carroll County.
“We are excited to introduce a mortgage company where customers and local realtors can deal directly with a team of home loan experts whose sole focus will be on facilitating the loan process on residential type properties,” Cornerstone President and CEO Charlie Cross said in a statement. “This should make for a quicker and more efficient borrowing experience for our clients. We feel that having a team of experts who deal exclusively with these types of loan products will streamline the process involved when buying or refinancing a residential property.”
The bank’s new division will be managed by Vice President Cindy Inman. The bank will continue to have residential loan officers at each of its locations, but will process the paperwork through the new division in the Berryville office. The new division will be providing mortgages for residential properties including primary residences and second homes, as well as investment properties.
Cornerstone Bank is a $202 million-asset lender with 65 employees and four branches in Carroll County, another in Madison County (Huntsville) and a loan production office in Shell Knob, Mo., near Table Rock Lake. The bank also has a piece of land under contract in Harrison in adjacent Boone County, and is expected to close on the purchase before the end of the year.