THE COMMONWEALTH OF MASSACHUSETTS

Division of Banks

CORNERSTONE BANK, Spencer, Massachusetts has petitioned the Commissioner of Banks for permission to merge with ATHOL SAVINGS BANK, Athol, Massachusetts. Under the terms of an Agreement and Plan of Merger, ATHOL SAVINGS BANK will merge with and into CORNERSTONE BANK under the charter, by-laws, and name of CORNERSTONE BANK. The main office of CORNERSTONE BANK would remain the main office of the continuing institution and the banking offices of ATHOL SAVINGS BANK would be retained as branch offices of CORNERSTONE BANK.

Any objections or comments relative to this proposal must be communicated in writing to the Commissioner of Banks, One Federal Street, Suite 710, Boston, Massachusetts 02110-2012 or via electronic mail to dob.comments@mass.gov no later than November 12, 2025. A public hearing may be held if the response is considered significant or circumstances warrant such a hearing, as determined by the Commissioner. The application and all communications relative to this application are available from the Division by request at dob.rao@mass.gov.

MARY L. GALLAGHER
Commissioner of Banks

Click here for a pdf version of this notice.

Funding advances affordable housing, small business growth and community safety in Worcester’s Main South neighborhood

WORCESTER, Mass. – Cornerstone Bank has donated $5,000 to the Main South Community Development Corporation (CDC) to support administrative expenses for affordable housing, small business empowerment and community safety initiatives in Worcester’s Main South neighborhood.

The donation will help fund the development of 35 new senior housing units, preserve 54 affordable apartments and create 15 first-time homeownership opportunities. It will also support 8 affordable commercial condominiums, providing stability and growth opportunities for BIPOC-owned small businesses, as well as sustain the CDC’s Neighborhood Ambassadors program, which promotes community safety and neighborhood improvement.

“As a community bank, we are proud to invest in organizations like the Main South CDC that are creating lasting change for families and businesses in Worcester,” said Todd Tallman, CEO of Cornerstone Bank.

The Main South CDC has a long history of revitalization work in one of Worcester’s most economically challenged neighborhoods. The organization’s ongoing efforts focus on creating equitable housing opportunities, strengthening small businesses and fostering safe, vibrant communities.

About Cornerstone Bank

Cornerstone Bank was formed in 2017, born of a long history of supporting the community, and providing a strong foundation to help people and businesses thrive. Serving Worcester County, Massachusetts, Cornerstone Bank’s local presence and community-based banking model enables a unique ability to deliver outstanding service, with a personal touch. Cornerstone, which is a subsidiary of PeoplesBankCorp, MHC, operating independently under its own name and brand, provides the highest level of service and expertise for individuals, businesses, and community organizations with branch locations throughout Central Massachusetts. Cornerstone works to connect customers with opportunities through a broad range of deposit and loan products and services. Built on Trust is not just a tagline, but also one of our guiding corporate values. Whether a business or personal partnership, Cornerstone stands on the foundation that relationships are built on trust. To learn about Cornerstone Bank’s personal and business banking offerings, please visit cornerstonebank.com or call 800-939-9103.

Cornerstone Bank has donated $3,000 to Dismas House of Massachusetts, Inc., to help provide winter heating support across the nonprofit’s four residential programs for former inmates reentering society. The funds will help cover utility costs during the colder months, ensuring that residents have a safe, warm environment as they work toward rebuilding their lives.

Dismas House offers transitional housing, support services and a pathway back to the community for individuals most in need of recovery, decent work and housing. With locations across Worcester County, the organization provides not only shelter, but also critical programs that foster stability and hope.

“Dismas House plays a vital role in providing dignity and opportunity for people in need across our community,” said Todd Tallman, CEO of Cornerstone Bank. “We’re proud to continue our support for their mission, particularly during the winter months when reliable heat is essential.”

This most recent gift builds on Cornerstone Bank’s ongoing partnership with Dismas House, which included a $2,500 donation in 2024 to support youth hunger initiatives and a $4,000 donation in 2023 for the same cause.

Cornerstone Bank is committed to strengthening local communities through charitable giving and volunteerism. Its support of Dismas House underscores the bank’s dedication to addressing urgent community needs and improving the lives of neighbors across Central Massachusetts.

Cornerstone Bank has continued its commitment to tackle local hunger with a $3,000 donation to Community Harvest Project, a nonprofit farm that engages volunteers to grow fresh fruits and vegetables for hunger relief across Central and Eastern Massachusetts. The donation builds on the bank’s $3,000 gift in 2024 and $2,000 gift in 2023, and is part of a broader relationship that includes regular volunteer efforts by Cornerstone Bank employees at Community Harvest Project’s farms.

“Cornerstone Bank is proud to partner with Community Harvest Project,” said Todd Tallman, CEO of Cornerstone Bank. “Food insecurity continues to impact thousands of our neighbors, and CHP’s work ensures that families have access not only to food, but to fresh, healthy produce. We’re honored to support their mission both financially and through the volunteer efforts of our team.”

Community Harvest Project is the largest community farm in Central Massachusetts, with locations in Grafton and Harvard. In 2024 alone, the organization hosted more than 6,300 volunteers who grew and donated 188,501 pounds of fruits and vegetables to 26 partner agencies serving more than 60,800 food-insecure individuals. With food insecurity rates in Worcester County still more than double pre-pandemic levels, CHP remains a vital source of fresh, healthy produce for families who might otherwise go without.

Cornerstone Bank employees have volunteered more than 300 hours at CHP farms since 2022, joining community members in planting, harvesting and packaging produce that directly benefits local families.

Cornerstone Bank has pledged $30,000 to Big Brothers Big Sisters (BBBS) of Central Mass & Metrowest as sponsor of the organization’s two signature 2026 events: the Big Celebration on Thursday, February 12, 2026, at Top of the Tower in Worcester, and the 10th annual Golf Fore Kids Tournament on Monday, June 22, 2026, at Charter Oak Country Club. Registration is now open for both events, with 2025 pricing available through September 30, 2025.

This latest gift reflects Cornerstone’s long history of generosity to BBBS, with contributions of $30,000 in 2025, $15,000 in 2024, and $15,000 in 2023. Last year alone, Cornerstone provided $25,000 for the Big Celebration and $5,000 for Golf Fore Kids, strengthening programs that create and support one-to-one mentoring relationships for local youth.

“We know that mentoring can change lives by giving young people the encouragement and guidance they need to thrive,” said Todd Tallman, CEO of Cornerstone Bank. “It’s an honor to continue supporting Big Brothers Big Sisters, whose mission aligns with our values of community and opportunity.”

BBBS of Central Mass & Metrowest continues to expand its reach, serving 650 youth in fiscal year 2025, a 15 percent increase from the prior year, and aiming for a significant increase in the year ahead. The agency has twice earned the Big Brothers Big Sisters of America Growth Award and was named 2025 Nonprofit of the Year by the Worcester Business Journal.

In collaboration with the NFL’s Inspire Change initiative, BBBS is also launching The Big Draft, a national volunteer recruitment campaign to encourage more adults to become mentors, known as “Bigs.” Just as the NFL drafts its next class of players, BBBS will draft its next class of Bigs to match more children on the waiting list with supportive role models. Learn how to become a Big at bigscm.org/become-a-big.

For the fifth consecutive year, Cornerstone Bank is a proud recipient of a 2025 Corporate Citizenship Award from the Boston Business Journal (BBJ). This annual list showcases companies that promote and prioritize giving back to their communities.

Cornerstone Bank’s contributions to regional charities totaled over $478,000 in 2024—well above the minimum $100,000 required to qualify for the list. It joins a diverse list of 99 honorees this year, representing industries ranging from financial and professional services, health care, technology, retail and professional sports.

“We are proud to again be recognized by the Boston Business Journal as one of the top contributors to regional charities,” said Cornerstone Bank CEO Todd Tallman. “As a true community bank, Cornerstone employees take pride in working for a local institution that is committed to improving the lives of our neighbors, customers, businesses and community.”

The BBJ’s 20^th Annual Corporate Citizenship Awards event will take place on Wednesday, September 10, from 5:30 p.m. to 8:30 p.m. at Big Night Live, 110 Causeway Street in Boston.

The evening will include networking, connecting and recognizing the Charitable Contributors, the Alan B. Lewis | Alnoba CEO Social Leadership Award honoree and the 2025 Corporate Citizenship Community Collaboration Awardees.

“It is with honor that we present our list of the Top Charitable Contributors in Massachusetts,” said Boston Business Journal Market President and Publisher Carolyn Jones. “Collectively, they gave more than $416 million in cash contributions—a true example of the business community coming together to help those in need. We are proud to celebrate these organizations who give both money and time to make our region a stronger and better place for all.”

Cornerstone Bank is pleased to announce the recipients of its 2025 Scholarship Awards Program. Sixteen outstanding local high school graduates have each been awarded a $2,500 scholarship to help support their college education, for a combined total of $40,000.

“At Cornerstone Bank, we believe in the power of education to transform lives,” said Todd Tallman, CEO of Cornerstone Bank. “These students have demonstrated dedication, leadership and a commitment to their communities. We’re proud to support them as they take the next step in their academic journey.”

The 2025 Cornerstone Bank scholarship recipients are:
• Jackson Landine, Tantasqua Regional High School, attending University of Rhode Island
• Sydney Scott, Sutton High School, attending University of Connecticut
• Jolie Nguyen, Shrewsbury High School, attending Assumption University
• Alexa Benson, South High Community School, attending University College Dublin
• Jake Melillo, Tantasqua Regional High School, attending Syracuse University
• Haley Case, Wachusett Regional High School, attending UMass Amherst
• Ashley Alvarenga, Worcester Technical High School, attending UMass Dartmouth
• Colin Resener, Shepherd Hill Regional High School, attending UMass Amherst
• Matthew McDonough, Shrewsbury High School, attending St. Anselm College
• Salma Bayi, Wachusett Regional High School, attending Westfield State University
• Shane McGlone, Marianapolis Preparatory School, attending Boston College
• Emily Manfield, Saint Paul Diocesan Jr. Sr. High School, attending Suffolk University
• Jackson Checkosky, Shepherd Hill Regional High School, attending Providence College
• Leandro Jean-Pierre, Gateways Academy, attending Fitchburg State University
• Christian Rutter, Leicester High School, attending Worcester State University
• Ashley Dickhaut, Shepherd Hill Regional High School, attending University of Connecticut

“Each of these students has shown not only academic promise but also a strong sense of purpose and responsibility,” Tallman added. “We’re honored to invest in their potential and can’t wait to see what they achieve in the years ahead.”

Applicants were evaluated based on the following criteria:
• Graduation from high school in 2025
• Full-time enrollment at an accredited college or university
• Planned study in business or finance
• Academic excellence and extracurricular/community involvement
• Submission of an official transcript and GPA
• A personal essay outlining goals and interests

Learn more about this year’s scholarship winners.

Cornerstone Bank is proud to continue its partnership with Gateways Academy by donating $8,000 to help families who are unable to afford the school’s full tuition. This latest contribution directly supports the academy’s mission to make high-quality, inclusive education accessible to diverse learners from all backgrounds.

This marks the third consecutive year Cornerstone Bank has contributed to Gateways Academy’s efforts to enhance learning opportunities and reduce financial barriers for families:

• 2025: $8,000 specifically designated for tuition assistance for families in need.
• 2024: $6,000 to bolster the school’s scholarship fund.
• 2023: $5,000 to fund American Sign Language (ASL), physical education and team-building programs.

In addition to financial support, Cornerstone Bank staff, including Community Relations Manager Nicole Gaylord, have offered mentorship, entrepreneurial education and financial literacy lessons at the school.

“Our team has had the opportunity to work directly with the incredible students and staff at Gateways Academy,” said Cornerstone Bank CEO Todd Tallman. “We’re inspired by their commitment to personalized, inclusive education and we’re honored to support their work in a meaningful way.”

Founded during the COVID-19 pandemic in response to the closure of several private schools in Worcester, Gateways Academy serves diverse learners through a comprehensive academic program that emphasizes cultural enrichment, service and student-driven exploration.

Cornerstone Bank’s gift reinforces its broader mission to invest in youth development and educational equity across Central Massachusetts.

Cornerstone Bank is donating $7,500 to the Briarwood Continuing Care Retirement Community with a gold sponsorship in the Briarwood Golf Outing on September 25 at Cyprian Keyes Golf Club in Boylston. It’s the third year in a row the bank has donated that amount to Briarwood.

“We’re proud to support Briarwood’s mission to promote independent living among seniors,” said Dan D’Amico, VP, commercial services manager at Cornerstone Bank, who has participated in the tournament in recent years.

“We look forward to this fun event every year,” said Tim Gardell,  VP, commercial lender at Cornerstone. “It’s become a great tradition for a worthy cause.”

The Briarwood Community in Worcester provides residential senior living options ranging from independent living to assisted living, memory care and full-service nursing home care.

Cornerstone Bank is proud to announce the arrival of its class of 2025 summer interns. This year's group includes nine outstanding high school and college students from across Massachusetts who have joined the bank’s departments to gain real-world experience and explore future careers in banking and finance.

Established four years ago, Cornerstone Bank’s Summer Internship Program offers paid part-time and full-time positions to local students, enabling them to immerse themselves in professional settings aligned with their academic and career interests. Interns are placed in departments, including finance, lending operations, retail banking, community relations, IT, facilities, project management and more. Most participants work 38 to 40 hours a week and may be eligible to receive school credit upon completion of the program.

“Our internship program is designed to offer more than just a summer job. It’s a launchpad for students to build their professional skills, gain confidence and begin shaping their future careers,” said Cornerstone Bank CEO Todd Tallman. “We’re proud to offer meaningful opportunities for local students to contribute, learn and grow in a supportive environment.”

Each intern began their journey with a structured orientation before diving into department-specific responsibilities. The program also features regular check-ins with supervisors, attendance at Cornerstone events and opportunities to participate in community initiatives.

“We want our interns to feel like they’re part of the Cornerstone team from day one,” said Cornerstone’s Chief Culture Officer Maria Salvatore. “That means giving them real work, real mentorship and real opportunities to make an impact, not just inside the bank, but out in the community as well.”

This year’s interns hail from a variety of hometowns and academic institutions, bringing with them a diverse range of interests and ambitions:

Meet the 2025 Cornerstone Bank Summer Interns

• Erika LaChance – Finance
  Hometown: Dudley | College: Nichols College
• Dev Patel – Lending Operations
  Hometown: Brimfield | College: Bryant University
• Molly Johnson – Learning & Development
  Hometown: Charlton | College: Bridgewater State University
• Jack Gaudette – Investment Services
  Hometown: Sturbridge | College: Elon University
• Dylan Clark – Investment Services
  Hometown: Brookfield | College: Nichols College
• Olivia O’Connell – Project Management
  Hometown: Belchertown | College: Bryant University
• Bennett House – Digital Banking
  Hometown: Upton | College: Arizona State University
• Bryan Nolan – Facilities
  Hometown: Douglas | School: Douglas High School
• Arnav Jain – Retail Banking
  Hometown: Shrewsbury | School: Shrewsbury High School

Cornerstone Bank remains committed to supporting the next generation of professionals and looks forward to seeing the contributions and accomplishments of this summer’s talented cohort.