Unassociated Document

-----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, LbXbf068333Div69Oq/hUQYMjYLBLJzQPHBmyhzSTlTDe9ydNUhO1ECdoiTfJkB4 rd/iFNwt6OTQS8IpDaIJyw== 0001144204-07-055131.txt : 20071019 0001144204-07-055131.hdr.sgml : 20071019 20071019080449 ACCESSION NUMBER: 0001144204-07-055131 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20071019 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071019 DATE AS OF CHANGE: 20071019 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: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30497 FILM NUMBER: 071180026 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 8-K 1 v090703_8k.htm Unassociated Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)		October 19, 2007
CORNERSTONE BANCSHARES, INC.
(Exact name of registrant as specified in its charter)

Tennessee	000-30497		62-1175427
(State or other jurisdiction of incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)
5319 Highway 153, Chattanooga, Tennessee			37343
(Address of principal executive offices)			(Zip Code)
Registrant’s telephone number, including area code		(423) 385-3000

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events

On August 19, 2007, the board of directors of the registrant authorized a stock repurchase program. The program calls for a repurchase of up to 150,000 shares of the registrant’s outstanding common stock. Based on Security Bank’s current outstanding shares of 6.5 million, the repurchase program represents 2.3% of total shares outstanding and will be funded through internal cash and borrowings at the holding company level. The repurchases will be made from time to time by the company in the open market as conditions allow and the repurchase plan will be open for one year unless shortened or extended by the board of directors. The number, price and timing of the repurchases will be at the company’s sole discretion and the program may be re-evaluated periodically, depending on market conditions, liquidity needs and other factors.

Item 9.01

Financial Statements and Exhibits.

(c)

Exhibits

99.1	Press release dated October 19, 2007 announcing the stock repurchase program.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	CORNERSTONE BANCSHARES, INC.
	(Registrant)
Date: October 19, 2007
	By:	/s/ Nathaniel F. Hughes
		Nathaniel F. Hughes
		President and CFO

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Exhibit 99.1

Cornerstone Bancshares, Inc. Announces Stock Repurchase Program

Friday, October 19, 2007 8:00 AM

- PR Newswire

CHATTANOOGA, Tenn., October 19, 2007 /PRNewswire-FirstCall / -- Cornerstone Bancshares, Inc. (OTC Bulletin Board: CSBQ) today announced the following:

Cornerstone Bancshares, Inc Board of Directors announced the authorization a 150,000 share repurchase program. The authorization represents 2.3% of our company’s outstanding shares and underscores the confidence of management and the Board of Directors in Cornerstone Bancshares, Inc. long-term prospects. This program will be implemented through open market purchases from time to time over the next 12 months and will be funded with internal cash and borrowings at the holding company level.

Cornerstone Bancshares, Inc. is a one-bank holding company serving the Chattanooga, Tennessee MSA with 5 branches, 2 loan production offices and $450 million in assets specializing in business financial services.

Contact:
	Cornerstone Bancshares, Inc., Chattanooga, TN
	Frank Hughes
	President & Treasurer, Cornerstone Bancshares, Inc.
	PH#(423)385-3009,Fax# (423)385-3100
	email: fhughes@cscbank.com

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