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                                                                    EXHIBIT 99.1


                CORNERSTONE FINANCIAL CORPORATION TO DEREGISTER
                       UNDER THE SECURITIES EXCHANGE ACT


         Mt.  Laurel,  New  Jersey - Cornerstone Financial Corporation announced
today  that,  pursuant  to the provisions of the Jumpstart Business Startups Act
(the  "JOBS Act"), the Board of Directors of the Company voted to deregister the
Company's  common stock under the Securities Exchange Act of 1934 (the "Exchange
Act").  The  JOBS  Act,  which  was signed into law on April 5, 2012, raises the
threshold  for  requiring  banks and bank holding companies to register with the
Securities  and  Exchange  Commission  under  the  Exchange  Act  to 2000 record
holders,  and  also  increases  the threshold under which banks and bank holding
companies  are  permitted  to  deregister  from the Exchange Act from 300 record
shareholders  to  1200  record  shareholders.  The  Company  currently  has  410
shareholders  of  record,  and  therefore  qualifies  for  deregistration.

         Although  the  Company  will  no  longer  file  period reports with the
SEC, the Company's common stock will remain quoted on the OTC Bulletin Board.
Therefore, the Company does not anticipate that there will be any change in the
trading of the Company's common stock. Further, by deregistering under the
Exchange Act, the Company will realize substantial cost-savings in reduced legal
and audit expenses, filing fees and other, related costs of compliance with the
Exchange Act.

         Under the Exchange Act, the deregistration will not be effective for
ninety (90) days after the Company's filing of its Form 15. The Company expects
its SEC filing requirements to end on approximately August 8, 2012. The
Company's quarterly and annual reports, proxy statements and current reports
will no longer be posted on the SEC's website, although the Company will
continue to provide quarterly and annual information and proxy statements to its
shareholders. The Company will also post this information on its website.