Cornerstone Bank
Spencer, Massachusetts, Worcester County
$2.6B in total assets, the 505th largest of 4,309 US banks and 22nd of 95 headquartered in Massachusetts.
- FDIC certificate
- 90282
- Established
- 1871
- Owned by
- Peoplesbancorp Mhc
- Primary regulator
- FED
- Website
- www.cornerstonebank.com
At a glance
Compared with 46 banks headquartered in Massachusetts with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $2.6B | 63% | $1.9B | |
| Loans | $1.9B | 63% | $1.5B | |
| Deposits | $1.9B | 61% | $1.6B | |
| Return on assets | 0.61% | 30% | 0.72% | |
| Net interest margin | 3.46% | 76% | 3.02% | |
| Efficiency ratio | 81.0% | 87% | 69.7% | |
| Equity to assets | 8.84% | 11% | 10.98% | |
| Loans to deposits | 100% | 49% | 100% |
Growth
Total assets grew 13.1% a year over the last 5 years and 16.5% a year over 10 years, including 2 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Jan 2026 | Athol Savings Bank Athol, MA | $678M |
| Jun 2017 | Southbridge Savings Bank Southbridge, MA | $559M |
Where they operate
17 branches in 1 county.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Worcester County, MA | $1.9B | 8.6% | 4 of 26 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 11 branches since 2016 (6 to 17, +183.3%). 2 opened, 14 acquired, 5 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 6 | |||
| 2017 | Acquired Southbridge Savings Bank | 9 | 0 | +9 | 15 |
| 2018 | Closed North Oxford and Spencer | 0 | 2 | −2 | 13 |
| 2020 | Closed Southbridge | 0 | 1 | −1 | 12 |
| 2022 | Closed Spencer and Warren | 0 | 2 | −2 | 10 |
| 2024 | Opened Shrewsbury | 1 | 0 | +1 | 11 |
| 2025 | Opened Worcester | 1 | 0 | +1 | 12 |
| 2026 through Q2 | Acquired Athol Savings Bank | 5 | 0 | +5 | 17 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 52% | 46% | |
| Commercial real estate | 29% | 26% | |
| Multifamily | 6% | 10% | |
| Consumer | 6% | 2% | |
| Business (C&I) | 5% | 8% | |
| Construction and land | 2% | 7% | |
| Other | 0% | 1% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 48% | 52% | |
| Time deposits | 35% | 31% | |
| Noninterest-bearing | 17% | 16% |
Brokered deposits are 0.3% of deposits (peers 3.9%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.35% | 0.59% |
| Net charge-offs, annualized | 0.04% | 0.01% |
| Reserves to loans | 0.45% | 0.89% |
| Leverage ratio | 9.22% | 11.19% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Massachusetts
Largest competitors in Worcester County, MA
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/cornerstone-bank-spencer-ma