The corner bead of the present invention includes an elongated strip of metal material with a central arcuate nose and a pair of flanges extending outwardly from the nose. A paper strip is bonded only to the outward faces of each of the flanges, with a wing portion extending beyond the outer edge of each flange. Each paper strip begins proximal to, but does not cover the nose, such that the nose is exposed after installation of the corner bead on a wallboard corner. The paper strips are applied only to the outward face of each flange. In the method of the invention, a tape-on corner bead is provided with paper strips bonded only to the outer face of the flanges of the core strip, with portions of the strips overhanging the outer edges of the flanges to form wings. A layer of joint compound is applied to a wallboard corner, and the corner bead is applied, with the inward faces of the flanges and the wings in direct contact with the joint compound. A finish layer of joint compound is then applied over the outward face of the paper strips, extending from the nose of the corner bead and feathered onto the wallboard, leaving the nose of the corner bead exposed.