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.
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