published Wednesday, August 3rd, 2011

Cornerstone profits rise

The Chattanooga banking company Cornerstone Bancshares Inc., continued its recovery this spring, reporting its second consecutive quarter of profits on Tuesday.

Cornerstone said it earned $141,000 in the second quarter, up from $18,000 a year ago. Bank President Frank Hughes said Cornerstone "is definitely moving in the right direction," through a combination of additonal capital, improved loan quality and lower operating expenses.

Cornerstone has raised $7.2 million in capital through its year-old preferred stock offering and will extend the campaign until the end of the year, Hughes said.

about Staff Report...

Get breaking news from the Times Free Press on Twitter at or by visiting us on Facebook or Twitter at the right:

Comments do not represent the opinions of the Chattanooga Times Free Press, nor does it review every comment. Profanities, slurs and libelous remarks are prohibited. For more information you can view our Terms & Conditions and/or Ethics policy.
please login to post a comment

Other National Articles

videos »         

photos »         

e-edition »


Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.