Branches to Begin Renovations

Renovations begin on Monday, March 1 at our Sturbridge Branch. To access the branch lobby, please use the rear entrance at the back of the building.

Please pardon our appearance while updates are in progress.

As always, if you have any questions or concerns please contact us at 800-939-9103.

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.

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.