Cornerstone Capital Bank Launches Team Member Stock Ownership Program
New ESOP, 'Cornerstone Cares' program, and community service initiatives reinforce commitment to Team Members, Clients, Shareholders, and Communities
"Establishing our ESOP required years of planning and collaboration, and now we have achieved another historic milestone for Cornerstone and our team members across our family of companies," said
"This ESOP embodies our longstanding belief that team members who are owners align with a higher purpose in their work, resulting in an exceptional level of caring service to our clients while producing substantial and sustainable financial results to our company. It's also a testament to one of our company convictions: We increase our generosity as our business grows," said
The ESOP is a qualified retirement plan through which an ESOP trust owns shares of Cornerstone's common stock. This structure allows team members to directly participate in Cornerstone's equity growth, providing a meaningful and supplemental reward for their contributions to Cornerstone's success.
Based on Cornerstone's longstanding commitment to take care of its team members, the company also established the Cornerstone Cares Fund, an internal relief fund that is supported by voluntary contributions from Cornerstone team members. The Cares Fund has distributed more than
Additionally, Cornerstone now provides eligible team members a Volunteer Time Off (VTO) benefit, with up to 16 paid hours annually to participate in charitable causes in the communities Cornerstone serves. In the past year, Cornerstone's team members contributed approximately 2,800 volunteer hours across 500 community activities.
"The Cornerstone Cares Fund showcases the hearts of our caring team members, and I'm excited about the expansion of our community involvement by team members across Cornerstone as we deepen our connections in the communities we serve," said Almy.
"We're proud of how these three important initiatives are helping serve our team members and communities," said Laird. "As Cornerstone continues to grow, so will the impact of these initiatives under the guidance of Cornerstone's Mission: 'We honor God by using our talents to make a positive difference in the lives of our Team Members, Clients, Shareholders, Communities, and the People who provide services to us.'"
Want to be part of a team driven by purpose? Browse career openings at Cornerstone.
About Cornerstone Capital Bank
Cornerstone Capital Bank, headquartered in
Guided by a core Mission, Vision, and Convictions statement, Cornerstone operates 17 full-service banking locations across major
Formed through the combination of Cornerstone Home Lending and The Roscoe State Bank, Cornerstone brings more than a century of experience and in 2022 became the highest-capitalized new bank in Texas history. Learn more at CornerstoneCapital.com.
Cornerstone Contact:
Thu-Lynn "TL" Nguyen
Vice President of Brand Strategy & Marketing
(713) 353-7505
[email protected]
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SOURCE Cornerstone Capital Bank
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