Cornerstone Bank to Award Sixteen Scholarships

Students in Central Massachusetts can apply now

Cornerstone Bank, a community bank with 12 locations throughout central Massachusetts, will be awarding sixteen scholarships for $2,000 each to students in the area it serves. Cornerstone Bank is hoping to help 2021 high school graduates throughout their community pursue higher education and foster advancement in the fields of business and finance. The sixteen scholarships will be awarded to the students who best demonstrate achievement in academics, extracurricular activities and community involvement.

“Making sure the future leaders of America get a great education is so important to us at Cornerstone Bank,” said CEO Todd Tallman. “We are excited to be able to help students achieve their dreams every year to go into the business or finance industries. Access to a good education can be difficult for many students, especially with how difficult this past year has been, so we hope the help we are able to provide to this group of graduates helps them to reach their goals.”

To apply for a scholarship, the student must:

  • Be a 2021 high school graduate
  • Reside within 10 miles of a Cornerstone Bank branch or office
  • Anticipate being a full-time student at an accredited, degree-granting institution of higher education
  • Anticipate studying in a business or financial field
  • Demonstrate achievement and high standards in academics, extracurricular activities, and community involvement
  • Submit an official transcript and GPA from their guidance office

In addition, the student must choose one of the following prompts and submit a one-page typed essay:

  1. Are there any challenges you have had to overcome in your high school career?

OR

  1. What are your goals for the future, and how will this scholarship assist you in meeting them?

Applications must be submitted or postmarked to Cornerstone Bank by April 5, 2021. Please send all applications to scholarships@cornerstonebank.com, or mail to Cornerstone Bank Scholarship Committee: P.O. Box 370, Southbridge, MA, 01550. Selected recipients will be announced by the week of May 24, 2021. Scholarship funds will be disbursed to the student after successful completion of the first semester and upon presentation of an official copy of the first-semester transcript and second-semester bill.

For more information, and to download the application form, please visit https://cornerstonebank.com/scholarships/.

Cornerstone Bank announces new Vice President, Marketing, Alan Whitney

Alan Whitney joins the team with 25 years of experience

Alan Whitney

Cornerstone Bank is pleased to announce that Alan Whitney has joined the team in the role of Vice President of Marketing. Whitney comes to Cornerstone with more than 25 years of relevant industry experience.

“Alan is a seasoned veteran with fresh ideas and unbridled enthusiasm,” said Todd Tallman, president of Cornerstone Bank. “We are excited to see how he can help us continue to grow and provide an even better experience to our customers.

Whitney held past positions with Agrium Advanced Technologies and Shemin Landscape Supply. Prior to joining the workforce, he served his country for six years in the United States Navy after graduating with a degree in Business/Marketing from Western New England University. He currently serves as the Chairman for the Ware, Massachusetts Board of Selectman, the governing body of the community in which he resides with his wife, Laurie.

“I look forward to building upon the successes Cornerstone Bank has already achieved. In just my few short weeks here, I have noticed the slogan ‘Built on Trust’ is more than just words. Every member of the team works hard every day to earn and maintain the trust of our customers,” said Whitney. “That’s what sets us apart and one of the main reasons I’m so excited to be a part of the organization.”

Cornerstone Bank makes $54,000 donation to United Way

Surpassed both this year’s goal and last year’s gift

Cornerstone Bank is pleased to announce its recent donation of $54,196.62 to the United Way. This donation reflects an employee gift and matching contribution that together exceeded this year’s goal and last year’s gift.

The United Way is a nonprofit organization dedicated to supporting the educational, economic and health care of individuals in need. Cornerstone Bank’s donation will support three, local United Way organizations: United Way of South Central Massachusetts, serving Southbridge, Sturbridge and Charlton; United Way of Webster Dudley; and United Way of Central Massachusetts, which serves 30 cities and towns. Locally, these organizations help with food insecurity, childcare, medical needs, counseling, legal services and much more.

“I am so proud we were able to raise funds for such an impactful organization again this year,” said Cornerstone Bank Vice President/Controller and United Way of South Central Massachusetts Treasurer Scott Dungey. “The employees here at Cornerstone Bank are so generous with their time and resources to help the communities that we serve. Being on the United Way Board of Directors, I know these funds will go to help people that really need it, especially with how difficult the past year was for so many in our area.”

“Cornerstone Bank has a deep-rooted commitment to giving back to the community,” said Cornerstone Bank Chief Executive Officer Todd Tallman. “We are pleased to play a role in supporting the United Way on their valiant efforts to support the needs of people around the world but especially those here in our own backyard.”

Cornerstone Bank announces new leadership

Todd Tallman and Randal D. Webber began new positions January 1

Cornerstone Bank, a community bank with 12 locations throughout central Massachusetts, has elevated two executives to new leadership roles effective January 1. Todd Tallman, formerly the Bank President and Treasurer, assumes the role of Chief Executive Officer (CEO.) Randal D. Webber, formerly Cornerstone’s Executive Vice President, Chief Operating Officer and Chief Lending Officer, will now serve as President. Both appointments were announced in the fall.

Of his appointment, new Cornerstone Bank CEO Todd Tallman said, “I am honored to assume the role of CEO and wish to thank the Cornerstone Bank Board of Directors for the trust they have placed in me. I’m excited and invigorated to continue the institution’s legacy as a trusted community bank.”

A seasoned financial professional and banking veteran, Tallman began his career as a certified public accountant before joining the banking world in 1998. First serving as Chief Financial Officer of Southbridge Savings Bank, he was promoted to President/CEO in 2014. Then, when Southbridge Savings Bank and SpencerBANK merged in 2016 to form Cornerstone Bank, Tallman was named President and Treasurer. With a passion for enriching the lives of others and supporting his community, he serves on the board of several nonprofit organizations and is a past president of the United Way of Southbridge, Sturbridge and Charlton.

New President Randal Webber spoke highly of Tallman, his predecessor, recognizing the big shoes he must fill as he assumes his new role. “Todd has always been a strategic leader. I am honored to follow in his footsteps and build upon the strong foundation he laid as I assume the role of president.”

Webber joined SpencerBANK in 2009 as Senior Vice President Chief Risk Officer, until being promoted to Executive Vice President, Chief Lending Officer in 2012. When Cornerstone Bank was formed in 2016, he was named Executive Vice President, Chief Operating Officer. Through each Executive-level role, he helped continue a growth trajectory in the Bank’s commercial and retail service and operations, particularly within its commercial portfolio. Webber currently serves on the board of the Worcester State University Foundation.

Cornerstone Bank gives back to the communities it serves this holiday season

Currently holding three different drives at various locations

Cornerstone Bank is giving back to the communities it serves by holding three separate drives to collect items for both people and pets this holiday season. They are hoping others in the community will want to assist in their mission by donating items as well. Below is information about each drive including donations accepted and drop-off information.

  • Cops ‘N’ Kids Toy Drive- Southbridge
    • Southbridge Main Office, 253-275 Main Street
    • Branch is still open to the public
    • Now through December 16
    • Looking for new, unwrapped, non-violent toys or gift certificates
    • All toys will be given to Southbridge children through the Southbridge Police Department Cops ‘N’ Kids Program
  • Hat & Mitten Tree- Spencer
    • Spencer Main Office, 176 Main Street
    • Branch is closed to the public, donations can be made by calling ahead at 508-885-5313 or ringing doorbell at the rear of the building upon arrival
    • Now through December 18
    • Looking for hats and mittens
    • All donations will be given to the Mary Queen of the Rosary Parish who will distribute to needy individuals
  • Pet Supply Drive- Spencer
    • Spencer Fair Plaza Branch, 72 West Main Street, Route 9 West
    • Branch is closed to the public, donations can be made by calling ahead at 508-885-9707
    • Now through December 18
    • Looking for supplies including but not limited to
      • Pet food/treats
      • Pet toys
      • Leashes and collars
      • Beds or cat towers
      • Flea and tick treatment
      • Medical supplies
      • Cleaning supplies
      • Office supplies
      • Gift certificates
    • All donations will be given to the Second Chance Animal Shelter

“We are hoping to make a difference in the lives of people and their pets this holiday season, especially with how difficult 2020 has been for many,” said Todd Tallman, President of Cornerstone Bank.  “It is important for us to give back to the communities that we serve and are proud of the commitment we have made locally to provide help to those who need it. These three drives are just part of our ongoing mission to do our part in making the world a better place”

Randal D. Webber to be appointed Cornerstone Bank President on January 1

Effective January 1, 2021, Randal D. Webber will be appointed President at Cornerstone Bank. Currently, Webber serves as the Bank’s EVP, COO and Chief Lending Officer.

“Randy has contributed enormously in helping Cornerstone honor our commitment to enhancing the vitality of local communities and the well-being of all of our customers” states Cornerstone Bank President and Treasurer Todd Tallman, who will assume the role of CEO on January 1. “His strategic and managerial skills go far beyond the lending discipline. I’ve found his insights on retail and digital banking to be invaluable—not only in relation to our products and services but also the professional development of our team members.”

After joining SpencerBANK in 2009 as SVP, Chief Risk Officer Webber served in increasingly responsible positions until his promotion in 2012 to EVP, Chief Lending Officer. When SpencerBANK and Southbridge Savings Bank created a merger of equals in 2016 to form Cornerstone Bank, Webber was named EVP, Chief Operating Officer. In this Executive-level role, he has helped facilitate significant growth of the Bank’s commercial and retail service and operations, particularly within its commercial portfolio. He currently serves on the Board of the Worcester State University Foundation.

In a related development, SVP and Senior Commercial Officer Michael J. Quink will be promoted on January 1, 2021, to EVP, Senior Commercial Officer. Prior to his current role, Quink was SVP, Commercial Division Manager at SpencerBANK. He is a Board member of the Horace Mann Education Foundation.

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