-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TIZxGSMjGvZuXEMxttqN9TalfcXAjYGvffRoXuR/WFWNMuZ+50zLo5IMULnBkIbj SZaudP/MRjLsrs7V8pXtJQ== 0000950144-99-010643.txt : 19990825 0000950144-99-010643.hdr.sgml : 19990825 ACCESSION NUMBER: 0000950144-99-010643 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990630 FILED AS OF DATE: 19990824 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORNERSTONE BANCSHARES INC CENTRAL INDEX KEY: 0001038773 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 621175427 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: SEC FILE NUMBER: 333-26699 FILM NUMBER: 99698511 BUSINESS ADDRESS: STREET 1: 4154 RINGGOLD RD CITY: CHATTANOOGA STATE: TN ZIP: 37412-416 BUSINESS PHONE: 4236982454 MAIL ADDRESS: STREET 1: 4154 RINGGOLD RD CITY: CHATTANOOGA STATE: TN ZIP: 37412-0416 FORMER COMPANY: FORMER CONFORMED NAME: EAST RIDGE BANCSHARES INC DATE OF NAME CHANGE: 19970507 10-Q/A 1 CORNERSTONE BANCSHARES INC 1 U.S. Securities and Exchange Commission Washington, D.C. 20549 FORM 10-Q/A (Mark One) [X] QUARTERLY REPORT PURSUANT SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended JUNE 30, 1999 [ ] TRANSITION REPORT PURSUANT SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________to _________________ Commission file number 333-26699 CORNERSTONE BANCSHARES, INC. (Exact name of small business issuer as specified in its charter) TENNESSEE 62-1173944 (State of other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 5319 HIGHWAY 153 CHATTANOOGA, TENNESSEE 37343 (Address of principal executive offices) (423) 877-8181 (Issuer's telephone number) Check whether the issuer (1) filed all reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No APPLICABLE ONLY TO CORPORATE ISSUERS State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 1,011,561 SHARES OF COMMON STOCK AS OF JUNE 30, 1999. 2 CORNERSTONE BANCSHARES, INC. AND SUBSIDIARY Consolidated Statement of Cash Flows For the Six Months Ended June 30, 1999 and June 30, 1998
1999 1998 ---------- ----------- Cash flows from operating activities: Net income (622,397) 262,308 Adjustments to reconcile net income (loss) to net cash provided by operating actvities: Provision for possible loan losses 655,000 123,192 Provision for depreciation and amortization 176,334 176,076 Accrued interest receivable 104,363 (274,957) Accrued interest payable (86,952) (142,085) Changes in other assets and liabilities: (734,809) (295,089) ----------- ----------- Net cash used in operating activities (508,461) (150,555) ----------- ----------- Cash flows from investing activities: Purchase of investment securities: AFS (6,865,216) (5,115,349) Purchase of investment securities: HTM -- (8,784,905) Proceeds from security transactions: AFS 4,247,643 2,327,557 Proceeds from security transactions: HTM 1,960,754 4,929,566 Net increase in loans 6,617,367 (9,559,545) Purchase of bank premises and equipment (81,272) (127,503) Net cash used in investing activities 5,879,276 (16,330,179) ----------- ----------- Cash flows from financing activities: Net increase in deposits (6,606,894) 16,843,967 Net increase in repurchase agreements 282,191 -- Net increase of notes payable -- -- Issuance of common stock 269,088 1,548,382 ----------- ----------- Net cash provided by finanacing activities (6,055,615) 18,392,349 ----------- ----------- Net increase in cash and cash equivalents (684,800) 1,911,615 Cash and cash equivalents beginning of period 12,693,967 7,303,892 ----------- ----------- Cash and cash equivalents end of period 12,009,167 9,215,507 =========== ===========
The accompanying notes are an integral part of these consolidated financial statements. 3 3 SIGNATURES In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CORNERSTONE BANCSHARES, INC. (Registrant) Date: August 24, 1999 /s/ Gregory B. Jones ---------------------------------------- President & Chief Executive Officer Date: August 24, 1999 /s/ Nathaniel F. Hughes ---------------------------------------- Chief Financial Officer 13 -----END PRIVACY-ENHANCED MESSAGE-----