Cornerstone Bank History Timeline
May 4, 1912: Charter of Bank of Eureka Springs
Location: 75 Spring Street, Clark and Klock Building
President: Clay Willis
Rent Amount: $100.00 per month
1913: Federal Reserve established by an act of Congress
Arkansas State Bank Department was established
1915: Claude A. Fuller becomes a stockholder
February, 1922: William Kappen becomes President of the bank.
1930: Claude A. Fuller becomes President of the bank.
1932: Bank loses $102.47
1933: Bank makes $173.39
1933: Banking Act of 1933 creates the FDIC.
Bank of Eureka Springs was the only bank in Eureka Springs to survive the depression.
1946: Moved to 40 Spring Street, site of Citizens Bank (failed in 1907) and First National Bank (failed in 1931).
1949: Total Assets reach $1 million
1956: John F. Cross elected to Board of Directors
1966: Purchased property at 70 South Main Street, formerly a livery stable and feed store at a cost of $15,000.00.
November 25, 1967: Bank opened at new location of 70 South Main.
First to have free parking, first drive-up window and first community room in Carroll County. Cost of Building approximately $100,000.00
January, 1968: John F. Cross elected Chairman, President and Chief Executive Officer due to the death of Claude A. Fuller on January 8, 1968.
Youngest banker in the history of Arkansas to have all three (3) titles.
1975: Total Assets reach $10 million
1978: Remodel and enlargement of the bank at 70 South Main to reflect an old-time bank for the Centennial in 1979. Dedicated June 23, 1979 with Bobbie Sue Cross, “Miss Carroll County” cutting the ribbon.
1978: First Historic Calendar and the first Restoration award.
1981: New Town Branch – First branch bank in Carroll County
1984: Total Assets reach $25 million
1985: Holiday Island Branch – first bank branch in Holiday Island
1991: Total Assets reach $50 million
1993: Enlarged bank building at 70 South Main.
1993: Total Assets reach $75 million
1996: Charlie Cross becomes Vice President and Assistant CFO and COO
2000: In-house brokerage department established.
2001: Eureka Bancshares, Inc. established as holding company for Bank of Eureka Springs.
May 14, 2002: Charlie Cross becomes President of the Bank of Eureka Springs at the groundbreaking of the new Bank of Eureka Springs Financial Center.
December 15, 2003: New Financial Center opens as bank’s main office.
2005: Total Assets reach $100 million
May 13, 2008: Charlie Cross becomes Chief Executive Officer
February 10, 2006: New Branch at Holiday Island on 23 North
November 3, 2008: Name changed to Cornerstone Bank
June 8, 2009: New Branch in Berryville, AR opens for business
December 13, 2010: Downtown Historic Branch officially becomes “Historic Bank of Eureka Springs Museum”, within the Cornerstone Bank facility and is free to the public.
May 4, 2012: Centennial Celebration – Bank gives away $100,000.00 to the communities it serves.