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.

Cornerstone Bank, a subsidiary of PeoplesBancorp, MHC, and Athol Savings Bank announced today the execution of a merger agreement, pursuant to which Athol Savings Bank (“ASB") will merge with and into Cornerstone Bank, which will expand Cornerstone into a new and vibrant region in north central Massachusetts. As part of the merger, ASB will operate as a division of Cornerstone Bank, maintaining its name and five branch locations. This strategic move allows Cornerstone Bank to bring its full suite of digital banking services and customer-focused innovations to an expanded clientele, while preserving the trusted local brand that ASB has built.

“This is an incredibly exciting time for us,” said Todd Tallman, CEO of Cornerstone Bank. “We are growing. Athol Savings Bank has a great team, and its mission, values and commitment to mutuality align seamlessly with ours. This move will strengthen our ability to serve our communities while preserving our focus on customer service. Our combined scale will make us more efficient, expand product offerings and improve customer service through shared resources and technology. In today’s industry, scale matters.”

ASB’s strong financial performance and customer-first approach align well with Cornerstone’s commitment to growth and innovation. Customers can expect the same seamless, local service with even better technology and improved access to financial planning tools on a robust digital platform, elevating their overall banking experience. Further, as a combined organization, it will allow for enhanced commitment to charitable giving, community involvement and volunteerism in the North Quabbin region.

ASB staff will be retained and fully supported throughout the transition, with significant focus made to ensure continuity in roles by offering the same or similar positions. This collaboration is rooted in growth, not reduction.

In a key leadership transition, Daniel J. Zona, the current President and Chief Executive Officer of ASB, will assume the role of President of Cornerstone Bank, succeeding Randal Webber, who announced in March that he will be retiring. The Cornerstone Bank Board of Directors will also expand to welcome four new members, including Mr. Zona, helping to round out leadership representation across the newly expanded region the bank will now serve.

“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.”

Completion of the transaction remains subject to approval by the corporators of ASB, as well as regulatory approval. The closing is expected to be final in the first quarter of 2026.

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 ASB.

Cornerstone Bank’s Customer Appreciation Day, held Saturday, July 12, at its newly renovated Spencer Branch, was more than just a celebration; it was a meaningful show of gratitude and community support that included $10,000 in charitable donations to two local nonprofits.

The festive, family-friendly event welcomed community members to the branch for a morning filled with games, giveaways, complimentary ice cream from Suzy Q’s Ice Cream Truck and photos with Moola the Cash Cow. The highlight of the day was a special donation presentation, during which Cornerstone Bank awarded $5,000 checks to two deserving Spencer-based organizations.

The recipients were:

• Beautifying Oncology Spa Services (B.O.S. Inc.) to support its mission of providing free spa and hair services to individuals undergoing chemotherapy or radiation treatment. The nonprofit helps restore confidence and well-being to those facing the physical and emotional challenges of cancer.

• Cole W. Victor Memorial Foundation Inc., which honors the memory of Cole Victor, a beloved local resident, and has made a lasting impact on the Spencer community through initiatives such as a new public park gazebo and scholarships for local students.

“This day was all about giving back to our customers, our neighbors and the organizations that make Spencer such a special place,” said Todd Tallman, CEO of Cornerstone Bank. “The turnout was incredible, and we were especially honored to support these two nonprofits doing such meaningful work in our community.”

The event also marked the public unveiling of the branch’s modern renovations, designed with comfort and convenience in mind, reflecting Cornerstone Bank’s continued commitment to serving customers and investing in the communities it calls home.

Cornerstone Bank thanks all who attended and looks forward to continuing its tradition of community connection and local support.

Cornerstone Bank is excited to welcome the public to a festive, family-friendly Customer Appreciation Day at its newly renovated Spencer Branch on Saturday, July 12th, from 9 a.m. to 1 p.m. at 176 Main Street, Spencer, MA.

This special event is a celebration of the branch’s modern updates and, more importantly, a heartfelt thank you to the loyal customers and community members who have supported Cornerstone Bank throughout the years.

“This event is all about saying thank you,” said Todd Tallman, CEO of Cornerstone Bank. “Our customers are the reason we’re here, and we’re excited to celebrate them while also unveiling the fresh new look of our Spencer Branch. We hope families, friends and neighbors will stop by to enjoy the fun and see what we’ve been working on.”

Event highlights include:

• Complimentary Ice Cream from Suzy Q’s Ice Cream Truck
• Games and giveaways for all ages
• Photos with Moola, the Cash Cow
• Local donation presentations at 12 p.m. 

The newly renovated Spencer Branch was designed with customer convenience and comfort in mind, reflecting Cornerstone Bank’s ongoing commitment to exceptional service and community investment.

Cornerstone Bank is pleased to announce the promotion of Elizabeth Dunn to Vice President of Benefits. She previously served as assistant vice president, HR business partner. In her new role, she will lead the development, implementation and management of Cornerstone’s employee benefits programs, ensuring compliance, cost-effectiveness and employee satisfaction, while also advising on strategic planning and vendor relationships.

“Lyz has more than a decade of valuable experience in her field, and is intimately familiar with our culture,” said Cornerstone CEO Todd Tallman. “She has demonstrated expertise in administering and overseeing comprehensive benefits programs, ensuring compliance with federal and state regulations while monitoring the effectiveness of our health and welfare offerings.”

Dunn is a Nichols College graduate and a member of the Society for Human Resource Management. She also volunteers with Habitat for Humanity and the Community Harvest Project.

Cornerstone Bank has donated $15,000 to the Central Massachusetts Sparks Association. The organization aids Central Massachusetts firefighters and police officers through the Rehab-7 Incident Support. Cornerstone’s donation will help pay for a trailer stocked with life-saving gear such as water, blankets and protective essentials that will travel to every incident.

“Our heroes on the front lines deserve our full support,” said Cornerstone CEO Todd Tallman. “We know firefighters and police will be there for us whenever we need them. We want to reciprocate and empower them to continue their important work as safely as possible in our community.”

The Central Massachusetts Sparks Association and Rehab-78 were recently created to support first responders. Organizers plan to outfit the trailer with shelving, storage containers and supplies such as disposable wipes to remove potential carcinogens from skin. They will bring it to fire and police incidents in Southbridge, Charlton, Sturbridge, Oxford, Spencer, Leicester, Holden, Rutland and Monson. The trailer will also provide supplies incident victims might need until the American Red Cross or other help arrives.

“We think this is a great concept,” said Tallman. “It has the potential to help countless people, from those putting their lives on the line, to victims going through some of the worst moments of their lives. We hope our contribution goes a long way.”

Cornerstone Bank has donated $10,000 to Shrewsbury Youth and Family Services, Inc. (SYFS). The private, non-profit organization provides counseling, school-based services, social services and mental health support for children and families in Central Massachusetts.

SYFS works with an average of more than 800 families a year. Programs address challenges such as anxiety, depression, child abuse, homelessness, domestic violence, divorce and many other issues. For more than four decades, the organization has adapted to the changing needs of the community through partnerships with state and local government, police departments, schools, churches and other social service agencies. These collaborations create a safety net for children in need.

“We’ve always believed in the power of investing in youth,” said Cornerstone CEO Todd Tallman. “Shrewsbury Youth and Family Services has an impressive record of changing the trajectory of children’s lives, setting them up for success.”

This is the third year in a row Cornerstone has donated to SYFS programs aimed at uplifting young lives.

“SYFS serves all families in need, regardless of a person’s financial situation,” said Tallman. “We believe everyone should have access to the services they need to thrive. We’re proud to support that mission.”

Pictured:

Left: Fred Kaelin, Executive Director of Shrewsbury Youth and Family Services

Right: Joel Laureano, Vice President, Senior Market Manager of Cornerstone Bank's Shrewsbury Branch

Cornerstone Bank is donating $15,000 a year for the next three years, a total contribution of $45,000, to the Worcester State Foundation for the university’s STEM Connections program. The gift continues Cornerstone Bank’s generous multi-year support of various STEM initiatives at Worcester State.

“This donation is personal for me,” said Cornerstone Bank President Randy Webber, who graduated from Worcester State University with a B.A. in business administration and sits on the board of the Worcester State Foundation, a non-profit organization dedicated to advancing the mission of the university. “I cherish my time spent at Worcester State, and I’m proud to be able to support the academic endeavors of students there now.”

The university’s STEM Connections program focuses on engaging junior and senior high school students from Worcester public high schools in fun and informative hands-on laboratory and data analysis projects at the Worcester State campus. Professors from chemistry, biology and environmental science lead the program, and a Worcester State student serves as the teaching assistant. The participants take field trips, hear from local experts, and participate in a variety of learning activities to encourage a love for science. The program also introduces pathways to higher education in STEM fields. Students gain valuable knowledge and skills about navigating the college application process through presentations by the university’s admissions and financial aid teams.

The program is one of the university’s signature summer educational programs, said Worcester State Vice President for University Advancement Tom McNamara. “The Cornerstone STEM Connections program has a tremendous impact on students by igniting their enthusiasm for science, building confidence, and enabling them to envision a future college education in STEM.

We are tremendously grateful to Cornerstone Bank for providing this multi-year support. This gift represents an important investment in the future workforce for our region.”

“I hope this donation helps open doors for students the way Worcester State helped me build a strong foundation for a rewarding career at Cornerstone Bank,” said Webber. “The future is bright.”