Category: Company News

Cornerstone Bank and Athol Savings Bank Finalize Merger

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Cornerstone Bank today announced the closing of its merger with Athol Savings Bank (ASB), effective December 31, 2025, uniting the two long-standing community institutions. The completed transaction results in an expanded banking network that brings Cornerstone Bank’s full suite of digital services to the North Quabbin region while preserving ASB’s trusted local identity and five branch locations.

“As of today, our partnership is officially complete, and we are excited to move forward as one organization,” said Todd Tallman, CEO of Cornerstone Bank. “This merger strengthens our ability to serve customers with improved technology, expanded products and deeper community investment, while staying true to the values that define both banks.”

With the closing, Daniel J. Zona, former President and CEO of ASB, has begun his new role as President of Cornerstone Bank, succeeding the retiring Randal Webber. The Cornerstone Bank Board of Directors has also expanded to include four new members, including Zona, broadening leadership representation across the regions the combined bank now serves.

“This is a meaningful moment for both banks,” said Zona. “Our teams share a strong commitment to customers, employees and the communities we call home. With the merger now finalized, we can begin fully delivering the enhanced services and opportunities that come with joining forces.”

All ASB employees have been retained, ensuring continuity for customers. Customers can expect ongoing communication and a smooth transition as Cornerstone and ASB align their systems and expand access to digital banking tools, financial planning resources, and new product offerings. Luse Gorman, P.C., served as legal counsel for Cornerstone Bank, while Piper, Sandler & Co. served as Financial Advisor. Updike, Kelly & Spellacy, P.C., served as legal counsel for Athol Savings Bank.

Watch the video featuring a conversation with Daniel J. Zona, President of Cornerstone Bank, and Todd Tallman, CEO of Cornerstone Bank, discussing the significance of the merger and what it means for the bank, the community and customers.

Cornerstone Bank invests in enriching experiences for youth in foster care

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Cornerstone Bank has donated $3,000 to the Rise Above Foundation to support its 3rd Annual Rise Above & DCF Sibling Fall Fest in Northbridge. The event creates a meaningful opportunity for siblings separated within the Massachusetts foster care system to reunite in a warm, welcoming environment designed for connection and joy.

The Fall Fest brings foster care siblings together for a day of activities, play and shared moments that are often difficult to create due to placement changes and geographic separation. Rise Above’s mission is to provide children in foster care with enriching opportunities that help restore a sense of normalcy, build confidence and strengthen emotional well-being.

“Children in foster care deserve moments of joy, connection and belonging,” said Cornerstone Bank CEO Todd Tallman. “We’re proud to support an organization that ensures siblings can stay connected and continue building memories together, even during challenging transitions.”

By helping make the Fall Fest possible, Cornerstone Bank continues its commitment to uplifting local families and supporting partners that advance the wellbeing of children across Massachusetts. Cornerstone’s involvement reflects its broader community-first philosophy and belief in creating access to positive, formative experiences for all youth.

Cornerstone Bank’s Annual Toy Drive spreads holiday cheer across the community

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Christmas tree with items from annual toy drive

Cornerstone Bank is proud to announce the success of its annual toy drive, which collected new, unwrapped toys for local children and families this season. Thanks to the generosity of customers, employees and community members, the effort once again brought joy to those who need it most.

Since its founding in 2017, Cornerstone has proudly partnered with local charities to brighten the holidays for families throughout its community. This year, all branches except the Southbridge location donated collected toys to the Planting the Seed Foundation, a Worcester-based nonprofit that supports underprivileged children and families. The Southbridge Branch continued its long-standing tradition of supporting the Cops ‘N’ Kids Toy Drive, a local program that has received donations from Cornerstone Bank for more than five years.

“This year’s toy drive truly shows the power of community,” said Cornerstone Bank CEO Todd Tallman. “Seeing so many people come together to support children and families in need is inspiring, and it reminds us why giving back is such an important part of what we do.”

Cornerstone Bank extends its sincere gratitude to everyone who participated and helped make this year’s toy drive a success.

Cornerstone Bank names Daniel J. Zona as president

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Daniel J. Zona

Cornerstone Bank announced today that with the completion of the merger with Athol Savings Bank (ASB), that Daniel J. Zona will be assuming the role of president of Cornerstone Bank. Zona will succeed Randal D. Webber, who is retiring.

Zona brings extensive experience in community banking, leadership and operational management. As president and CEO of ASB, he successfully led the institution while maintaining a strong focus on community engagement, customer service and innovation. He will now guide Cornerstone Bank into its next chapter, overseeing an expanded footprint and a growing team.

“I’m honored to lead Cornerstone Bank into this next chapter,” said Zona. “Both banks share a commitment to our community, employees and customers. Together, we can achieve strategic growth while maintaining a community-first approach rooted in mutual values. The people matter most.”

Zona emphasized his priorities in the role will include integrating the Cornerstone and Athol teams, getting to know employees, preserving the legacy and community connections of Athol Savings Bank and leveraging Cornerstone’s digital banking capabilities to enhance customer experiences.

Todd Tallman, CEO of Cornerstone Bank, commented, “Dan’s leadership and deep understanding of community banking make him the perfect person to guide Cornerstone Bank as we expand into north central Massachusetts. His values, vision and dedication to employees and customers align seamlessly with our mission.”

The merger between ASB and Cornerstone Bank will allow existing and new customers to access a broader suite of products and services, including enhanced digital banking options, while maintaining local branch relationships and community involvement. ASB will operate as a division of Cornerstone Bank, retaining its name and all current locations.

Cornerstone Bank honored 25 employees for milestone years of service

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Cornerstone Bank recently honored 25 employees who reached milestone anniversaries in their tenure in 2025. The Years of Service Awards were presented on Thursday, December 4, at the Barn at Wight Farm in Sturbridge. Cornerstone employees are recognized for every five years of service.

“The longevity of our employees is very important to us,” said Cornerstone Bank CEO Todd Tallman. “We’re proud to have such a dedicated and passionate team whose commitment to our customers and communities defines who we are as an organization.”

40 Years
• Karen Largesse

25 Years
• Jason Main
• Colleen Lord

20 Years
• John Jawor
• Jamey Mekal

15 Years
• Michael Pacheco
• Kyle Bourque
• Sara Seaver
• Susan Wilcox

10 Years
• Heather Dumais
• Thomas Moschos
• Rebecca Field
• Johanne Mahon
• Lisa Tucker
• Laura Pimental

5 Years
• Denise Steeves
• Erin McGinnis
• Sophie Descoteau
• Alycia Rozzen
• Makenna Obuchowski
• Caralyn Stevens
• David Harmon
• Alan Whitney
• Bonnie Kinsman
• Nicole Gaylord

“Congratulations to this year’s honorees,” Tallman added. “We’re grateful for your dedication, enthusiasm and outstanding service. You make Cornerstone stronger every day, and we look forward to celebrating many more milestones together.”

Cornerstone Bank donates $20,000 to Worcester County Food Bank to support families facing ongoing food insecurity

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Cornerstone Bank has reaffirmed its commitment to addressing hunger in Central Massachusetts with a $20,000 donation to the Worcester County Food Bank. The contribution continues Cornerstone’s annual tradition of redirecting funds typically spent on holiday cards. The bank contributed $10,000 in both 2022 and 2023, and increased its support this year to meet rising community need.

While the recent federal government shutdown has concluded, many families continue to feel the ripple effects of temporary delays in Supplemental Nutrition Assistance Program (SNAP) benefits. With food costs still elevated and demand for assistance remaining high, Cornerstone Bank prioritized support for local hunger relief efforts.

“As a community bank, we believe our resources should create meaningful, measurable impact for our neighbors,” said Cornerstone Bank CEO Todd Tallman. “Redirecting holiday card spending allows us to invest directly in helping families access healthy meals during a season that can be especially difficult for many.”

The Worcester County Food Bank, a Feeding America member, distributes nutritious food through a network of local pantries and meal programs while working to reduce hunger through advocacy and equitable access. The Bank’s funds will be allocated directly to distribution efforts to support residents in immediate need.

“We want our community to feel supported, not just during the holidays, but throughout the year,” Tallman added. “This donation reflects our ongoing commitment to strengthening the well-being of the neighbors we serve.”

Cornerstone Bank sponsors EcoTarium’s ‘Legacy of the Stars Gala’ to celebrate opening of Stoddard Exhibition Hall

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Cornerstone Bank is proud to support the EcoTarium with a $5,000 sponsorship of the Legacy of the Stars Gala, celebrating the grand opening of the Stoddard Exhibition Hall. The new hall marks a milestone moment for the EcoTarium, enabling Worcester to host major national exhibitions for the first time in its history.

This sponsorship builds on Cornerstone Bank’s ongoing support of the EcoTarium through its multi-year commitment to the museum’s Capital Campaign, to which Cornerstone contributed a total of $12,500 in 2023 and 2024.

“The EcoTarium has enriched generations of children and families by making science and nature accessible and inspiring,” said Cornerstone Bank CEO Todd Tallman. “We are honored to support the opening of the Stoddard Exhibition Hall and help bring world-class educational experiences to Worcester.”

Founded in 1825 as the Worcester Lyceum of Natural History, the Ecotarium is one of the oldest natural history museums in the United States. The Legacy of the Stars Gala honors the individuals and community partners who have strengthened the EcoTarium over its 200-year history. Proceeds from the event will support The Secret World of Elephants, the first major exhibition to be featured in the new Stoddard Exhibition Hall when it opens in March 2026.

Cornerstone Bank remains committed to investing in organizations that inspire curiosity, support lifelong learning and broaden access to educational opportunities for local families.

Cornerstone Bank Named One of the Nation’s Best Banks to Work For, Ranking #15 on 2025 List

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Cornerstone Bank has been recognized as one of the 2025 Best Banks to Work For, ranking #15 nationwide on the annual list published by American Banker. It's the second year in a row Cornerstone has earned this honor celebrating banks that excel at creating supportive, engaging workplaces where employees feel valued and empowered to succeed.

The Best Banks to Work For program, now in its 12th year, is conducted by American Banker in partnership with Best Companies Group. This year, 90 banks across the country earned a place on the list following an in-depth evaluation of workplace policies and anonymous employee surveys assessing engagement and satisfaction.

“We’re incredibly proud to be recognized among the best banks to work for in the nation,” said President and CEO Todd Tallman. “Our employees are the heart of Cornerstone Bank, and this recognition reflects their dedication, teamwork and commitment to our customers and communities.”

According to American Banker Editor-in-Chief Chana Schoenberger, “The banks recognized as Best Banks to Work For are institutions employees want to join and stay. They understand how to give workers reasons to find purpose in their jobs.”

To determine the rankings, each participating bank was evaluated through a two-part process: a review of workplace practices, policies and benefits (25 percent of the total score) and an anonymous employee survey (75 percent). The combined results determined the final ranking.

Cornerstone Bank donates $2,500 to support “Uplift: The Art of Resilient Recovery” at The Overlook

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Cornerstone Bank has donated $2,500 to support Uplift: The Art of Resilient Recovery, a new program at The Overlook designed to enhance the overall well-being of cancer patients and survivors.

The program integrates yoga therapy, light cardio and strength training adapted to the unique needs and energy levels of cancer patients. With a focus on physical, emotional and spiritual well-being, Uplift helps participants address fatigue, pain, stress and anxiety, while improving mobility, strength and flexibility.

Developed by experienced fitness coaches with extensive backgrounds in supporting individuals affected by cancer, Uplift offers compassionate, personalized guidance throughout treatment and recovery. The program also collaborates with local organizations to ensure participants have access to a wide range of supportive services.

“Cornerstone Bank is proud to support a program that empowers cancer patients and survivors to strengthen not only their bodies but also their resilience and spirit,” said Todd Tallman, CEO of Cornerstone Bank. “Uplift reflects the kind of community care and innovation we believe makes a lasting difference in people’s lives.”

Located in Charlton, The Overlook is a nonprofit continuing care retirement community sponsored by the Masonic Health System of Massachusetts. In addition to providing senior living and health services, The Overlook offers wellness programs like Uplift that serve as valuable resources for the broader community, including cancer patients.

Cornerstone Bank donates $5,000 to QVCDC to support financial fitness program

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Cornerstone Bank has donated $5,000 to the Quaboag Valley Community Development Corporation (QVCDC) in support of its Learn and Save Club. This financial fitness program teaches participants how to develop healthy money habits and save toward the purchase of important assets.

“Financial literacy is the foundation for long-term success,” said Todd Tallman, CEO of Cornerstone Bank. “We are proud to support the Learn and Save Club again this year, which equips local families and individuals with the tools they need to make confident financial decisions.”

The year-long program combines financial literacy classes with matched savings to empower low-income residents of the Quaboag Valley to achieve greater financial stability. Participants attend monthly meetings, receive hands-on guidance and work toward goals such as home ownership, education or reliable transportation.

This is the second consecutive year Cornerstone Bank has contributed to the Learn and Save Club. In addition to financial support, bank employees have volunteered to help lead financial education sessions, sharing their expertise with program participants

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