UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                            CORNERSTONE BANCORP, INC.
                                (Name of Issuer)

                     COMMON STOCK, PAR VALUE $0.01 PER SHARE
                         (Title of Class of Securities)

                                    218925105
                                 (CUSIP NUMBER)

                                DECEMBER 31, 2005
             (Date of event which requires filing of this statement)

      Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

|X|  Rule 13d-1(b)

|_|  Rule 13d-1(c)

|_|  Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
notes).

                                Page 1 of 9 Pages




CUSIP No. 218925105                       13G                  Page 2 of 9 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Millenco, L.P.
     13-3532932
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          -0-
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            -0-
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     -0-
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     0.0%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     PN,BD
--------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!




CUSIP No. 218925105                       13G                  Page 3 of 9 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Millennium Management, L.L.C.
     13-3804139
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          -0-
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            -0-
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     -0-
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     0.0%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     OO
--------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 218925105                       13G                  Page 4 of 9 Pages

--------------------------------------------------------------------------------
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

     Israel A. Englander
--------------------------------------------------------------------------------
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

                                                                 (a)  |X|
                                                                 (b)  |_|
--------------------------------------------------------------------------------
3.   SEC USE ONLY


--------------------------------------------------------------------------------
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

      United States
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           -0-
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          -0-
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         -0-
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            -0-
--------------------------------------------------------------------------------
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     -0-
--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          |_|
--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

     0.0%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*

     IN
--------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!



CUSIP No. 218925105                       13G                  Page 5 of 9 Pages

Item 1.

(a)  Name of Issuer

     Cornerstone Bancorp, Inc., a Connecticut corporation (the "Company").

(b) Address of Issuer's Principal Executive Offices:

     550 Summer Street, Stamford, Connecticut 06901

Item 2(a).  Name of Person Filing
Item 2(b).  Address of Principal Business Office
Item 2(c).  Citizenship

            Millenco, L.P.
            c/o Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: Delaware

            Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: Delaware

            Israel A. Englander
            c/o Millennium Management, L.L.C.
            666 Fifth Avenue
            New York, New York 10103
            Citizenship: United States

(d)  Title of Class of Securities

     Common Stock, par value $0.01 per share ("Common Stock")

(e)  CUSIP Number

     218925105

Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:

(a)  |X| Broker or dealer registered under Section 15 of the Act (15 U.S.C.
         78o).

(b)  |_| Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).

(c)  |_| Insurance company as defined in Section 3(a)(19) of the Act (15
         U.S.C. 78c).

(d)  |_| Investment company registered under Section 8 of the Investment
         Company Act of 1940 (15 U.S.C. 80a-8).

(e)  |_| An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);


(f)  |_| An employee benefit plan or endowment fund in accordance with Rule
         13d-1(b)(1)(ii)(F);



CUSIP No. 218925105                       13G                  Page 6 of 9 Pages

(g)  |X| A parent holding company or control person in accordance with Rule
         13d-1(b)(1)(ii)(G);

(h)  |_| A savings association as defined in Section 3(b) of the Federal
         Deposit Insurance Act (12 U.S.C. 1813);

(i)  |_| A church plan that is excluded from the definition of an investment
         company under Section 3(c)(14) of the Investment Company Act of 1940
         (15 U.S.C. 80a-3);

(j)  |X| Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

If this statement is filed pursuant to Rule 13d-1(c), check this box. |_|

Item 4. Ownership

     Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

(a)  Amount Beneficially Owned

     As of the date of this filing, no Reporting Person would be deemed to be
the beneficial owner of any shares of Common Stock. At December 31, 2005,
Millenco, L.P., a Delaware limited partnership ("Millenco"), owned approximately
8.7% of the Common Stock of the Company, but all such shares were converted as a
result of the January 3, 2006 merger with NewAlliance Bancshares, Inc.

     Millennium Management, L.L.C., a Delaware limited liability company
("Millennium Management"), is the general partner of Millenco, and consequently
may be deemed to have voting control and investment discretion over securities
owned by Millenco. Israel A. Englander ("Mr. Englander") is the managing member
of Millennium Management. As a result, Mr. Englander may be deemed to be the
beneficial owner of any shares deemed to be beneficially owned by Millennium
Management. The foregoing should not be construed in and of itself as an
admission by Millennium Management or Mr. Englander as to beneficial ownership
of the shares owned by Millenco.

     Note: Millennium Partners, L.P., a Cayman Islands limited partnership
("Partners"), is a limited partner of Millenco. As a limited partner, Partners
has no investment or voting control over Millenco or its securities positions.

(b)  Percent of Class

     0.0%.

(c) Number of shares as to which such person has:

            (i)   Sole power to vote or to direct the vote:

                  -0-

            (ii)  Shared power to vote or to direct the vote

                  -0-

            (iii) Sole power to dispose or to direct the disposition of

                  -0-



CUSIP No. 218925105                       13G                  Page 7 of 9 Pages

            (iv)  Shared power to dispose or to direct the disposition of

                  -0-

Item 5. Ownership of Five Percent or Less of a Class

     If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following |X|.

Item 6.  Ownership of More than Five Percent on Behalf of Another Person.

     Not applicable.

Item 7.  Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company

     Not applicable.

Item 8.  Identification and Classification of Members of the Group

     See Exhibit I.

Item 9.  Notice of Dissolution of Group

     Not applicable.

Item 10. Certification

By signing below each of the undersigned certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.

Exhibits:

Exhibit I: Joint Filing Agreement, dated as of January 24, 2006, by and among
Millenco, L.P., Millennium Management, L.L.C. and Israel A. Englander.



CUSIP No. 218925105                       13G                  Page 8 of 9 Pages

                                    SIGNATURE

After reasonable inquiry and to the best of its knowledge and belief, each of
the undersigned certifies that the information with respect to it set forth in
this statement is true, complete, and correct.

Dated: January 24, 2006

                                MILLENCO, L.P.

                                By: Millennium Management, L.L.C.
                                    its general partner


                                By:  /s/ Terry Feeney
                                   ----------------------------------
                                   Name:  Terry Feeney
                                   Title: Chief Operating Officer


                                MILLENNIUM MANAGEMENT, L.L.C.


                                By:  /s/ Terry Feeney
                                   ----------------------------------
                                   Name:  Terry Feeney
                                   Title: Chief Operating Officer


                                  /s/ Israel A. Englander by David
                                Nolan pursuant to Power of Attorney
                                filed with SEC on June 6, 2005
                                -------------------------------------
                                ISRAEL A. ENGLANDER



CUSIP No. 218925105                       13G                  Page 9 of 9 Pages

                                    EXHIBIT I

                             JOINT FILING AGREEMENT

This will confirm the agreement by and among the undersigned that the Schedule
13G filed with the Securities and Exchange Commission on or about the date
hereof with respect to the beneficial ownership by the undersigned of the Common
Stock, par value $0.01 per share, of Cornerstone Bancorp, Inc., a Connecticut
corporation, is being filed, and all amendments thereto will be filed, on behalf
of each of the persons and entities named below in accordance with Rule 13d-1(k)
under the Securities Exchange Act of 1934, as amended. This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

Dated: January 24, 2006

                                        MILLENCO, L.P.

                                        By: Millennium Management, L.L.C.
                                            its general partner


                                        By:  /s/ Terry Feeney
                                           ----------------------------------
                                           Name:  Terry Feeney
                                           Title: Chief Operating Officer


                                        MILLENNIUM MANAGEMENT, L.L.C.


                                        By:  /s/ Terry Feeney
                                           ----------------------------------
                                           Name:  Terry Feeney
                                           Title: Chief Operating Officer


                                          /s/ Israel A. Englander by David
                                        Nolan pursuant to Power of Attorney
                                        filed with SEC on June 6, 2005
                                        -------------------------------------
                                        ISRAEL A. ENGLANDER