Cornerstone Bank (Spencer, MA): Financial Reports & UBPR Data
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Data as of · sourced from FFIEC call reports. How we update
Cornerstone Bank spends more to run itself than most banks of its size. It reported $2.6 billion in assets at June 30, 2026, up 49.0% from a year earlier. It earns about $0.51 a year on every $100 of assets, about a third the median of $1.29 for the 895 banks with $1 billion to $10 billion in assets. It also spends about 82 cents to bring in each dollar of revenue, higher than about 9 in 10 banks its size (median 58 cents).
Earnings jumped: net income for the quarter was $3.1 million, 149% above the same quarter a year earlier. Over the same year, loans grew 38.0% and deposits grew 45.2%. Where it has less room is capital: it funds 9.22% of its assets with Tier 1 capital, lower than about three-quarters of banks its size (median 10.52%).
As of June 30, 2026, Cornerstone Bank reported a CET1 capital ratio of 11.84%, a return on assets of 0.51%, a nonperforming-loan ratio of 0.35% and a Texas ratio of 3.11%, according to its call report filed with the FFIEC.
Headquarters Profile
- Address
- 176 Main St, Spencer, MA 01562
- County
- Worcester
- Metro Area
- Worcester, MA
- Charter
- Commercial bank, state charter, Fed member, FRB-supervised
- Primary Regulator
- Federal Reserve
- FDIC Region
- New York (Region 2)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 1, Boston
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 041
- Established
- April 5, 1871
- Former names
- Spencer Savings Bank (1978-2017)
- Offices
- 17 domestic
- Employees (FTE)
- 242
- Domestic deposits
- $1.94B
- Allowance for credit losses
- $8.6M
- Net charge-offs (YTD)
- $345K
- Average total assets
- $2.42B
- Average total loans
- $1.89B
- Average interest-bearing deposits
- $1.63B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- No
- FDIC-insured since
- July 8, 1985
- FDIC Cert
- 90282
- Fed RSSD
- 447100
- Website
- www.cornerstonebank.com →
- Parent Holding Company
- PEOPLESBANCORP, INC (RSSD 3547038)
- Ultimate Parent
- PEOPLESBANCORP, MHC (RSSD 3186585)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Rows tagged YTD are fiscal year to date through June 30, 2026, as filed. Net income is tagged Q2 because it is that quarter's own figure, not a running total, so it cannot be compared with a YTD row. ROA, ROE and net interest margin are the quarter's own income, annualized. The UBPR and FDIC annualize the year to date instead, so after the first quarter their figures differ from ours; where the UBPR has this quarter, its value is shown beside each as YTD.
Quarterly trends
Last 12 quarters from this bank's own FFIEC call reports. Dollar figures are the quarter's own amount: the income statement is filed year to date, so those lines are shown net of the preceding quarter.
Balances at each quarter end. The gap between the two lines is equity capital.
Balances at each quarter end. Loans rising toward deposits is the loan-to-deposit ratio tightening.
Balances at each quarter end. Each line is its own balance, not stacked on the other.
Each bar is that quarter alone. The gap between the two is net interest income.
What the balance sheet earned on spread that quarter, before fees and operating costs.
Fees, trading and other income against salaries, premises and the rest of the cost base.
What the bank charged to earnings that quarter to build its allowance for expected losses.
Net income for the quarter alone. The Call Report reports it year to date; this series converts it to the single quarter, so each bar covers three months.
CET1 is common equity tier 1 as a share of risk-weighted assets; the leverage ratio is tier 1 capital as a share of average total assets. A bank that files the community bank leverage ratio reports no CET1 ratio, so only its leverage line appears.
Inside the full Cornerstone Bank terminal
26 years of quarterly trends · 8 tabs · peer percentiles · Excel export
Unlock Cornerstone Bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
Cornerstone Bank rankings
How this bank ranks on each leaderboard. Click any rank to see the full ranked list.
Ranked among banks that report this metric, so the total differs from card to card. The CET1 ranking leaves out community bank leverage ratio filers, which report no CET1 ratio.
Banks merged into Cornerstone Bank
- Athol Savings Bank, effective January 1, 2026
Quarterly trend: last 8 quarters
Quarter-over-quarter movement in the five most-watched ratios. Sourced from the bank's own FFIEC call report filings.
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.84% | 0.51% | 0.43% | 3.11% | 3.29% |
| Q1 2026 | 12.51% | 0.67% | 0.44% | 3.09% | 3.10% |
| Q4 2025 | 12.44% | 1.11% | 0.48% | 3.52% | 2.63% |
| Q3 2025 | 12.27% | 0.14% | 0.59% | 4.24% | 2.63% |
| Q2 2025 | 12.67% | 0.29% | 0.62% | 4.30% | 2.49% |
| Q1 2025 | 13.01% | 0.39% | 0.39% | 2.14% | 2.30% |
| Q4 2024 | 13.58% | -0.75% | 0.31% | 1.46% | 2.18% |
| Q3 2024 | 11.21% | -0.27% | 0.40% | 2.50% | 2.16% |
Swipe the table sideways to see every column.
Branch Network
Every branch from the FDIC Summary of Deposits, listed with the deposits booked at each location. The FDIC's office count above also includes administrative and limited-service offices, so the two totals can differ. View all 17 branches →
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Cornerstone Bank (main office) | Spencer , MA | 01562 | $294.5M |
| Southbridge Br | Southbridge , MA | 01550 | $188.8M |
| Athol Savings Bank Branch | Athol , MA | 01331 | $179.9M |
| Sturbridge Branch | Sturbridge , MA | 01566 | $161.6M |
| Worcester Branch | Worcester , MA | 01609 | $149.7M |
| Gardner Branch | Gardner , MA | 01440 | $146.8M |
| Charlton Branch | Charlton , MA | 01507 | $119.6M |
| West Boylston Street Branch | Worcester , MA | 01606 | $100.4M |
| Rutland Branch | Rutland , MA | 01543 | $94.7M |
| Winchendon Branch | Winchendon , MA | 01475 | $90.7M |
| Ashburnham Branch | Ashburnham , MA | 01430 | $80.8M |
| Leiceister Branch | Leicester , MA | 01524 | $79.2M |
| Holden Branch | Holden , MA | 01520 | $71.1M |
| Barre Branch | Barre , MA | 01005 | $62.2M |
| Webster Branch | Webster , MA | 01570 | $59.4M |
| Shrewsbury Branch | Shrewsbury , MA | 01545 | $35.5M |
| Tatnuck Square Branch | Worcester , MA | 01602 | $22.7M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| January 1, 2026 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 1, 2026 | Structure Change | Acquired Athol Savings Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| June 12, 2017 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| June 10, 2017 | Structure Change | Acquired Southbridge Savings Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| October 31, 1978 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| October 31, 1978 | Structure Change | Charter Discontinued (Merger or Purchase & Assumption) | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 6 events.
Regulatory record
What the public regulatory sources show for Cornerstone Bank, each with its period and source. These are facts as filed or published, not a rating or score. "Not on file" means we hold no record from that source, which is not the same as a clean record.
- Enforcement actions
- Not on file: no matched FDIC, Federal Reserve or OCC action
- Period: not on file. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 0.3% of deposits in MA, rank 30 of 120 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 998 applications, 679 loans originated, $180.3M originated, across 7 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 4 loans, $542K approved, $136K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Consumer complaints
- Not on file: no CFPB complaints matched
- Period: not on file. Source: CFPB consumer complaint database.
- CFPB enforcement
- Not on file: CFPB enforcement actions are not loaded
- Period: not on file. Source: CFPB enforcement actions.
- CRA examination rating
- Not on file: FFIEC CRA ratings are not loaded
- Period: not on file. Source: FFIEC CRA ratings.
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Frequently asked about Cornerstone Bank
What are Cornerstone Bank's total assets?
As of the Q2 2026 filing, Cornerstone Bank reported total assets of $2.57 billion in its FFIEC call report. All figures come directly from the bank's quarterly Schedule RC filing.
Where is Cornerstone Bank headquartered?
Cornerstone Bank is headquartered in Spencer, MA, United States. It files quarterly FFIEC call reports, as every FDIC-insured commercial bank must.
When was Cornerstone Bank founded?
Cornerstone Bank was established in 1871, per the FDIC institution directory.
Is Cornerstone Bank FDIC-insured?
Yes. Cornerstone Bank is an FDIC-insured commercial bank (FDIC Certificate #90282). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Cornerstone Bank?
Cornerstone Bank's primary federal regulator is the Federal Reserve. All FDIC-insured banks also report to the FDIC and, depending on charter, the Federal Reserve.
What is Cornerstone Bank's CET1 capital ratio?
Cornerstone Bank reported a Common Equity Tier 1 (CET1) capital ratio of 11.84% in its Q2 2026 call report, above regulatory requirements.
How many branches does Cornerstone Bank operate?
Cornerstone Bank operates 17 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Cornerstone Bank's Texas Ratio?
Cornerstone Bank's Texas Ratio is 3.11% in its Q2 2026 call report, within the healthy range (under 25%). The Texas Ratio measures non-performing assets against the bank's capital and reserves; the glossary entry for the Texas Ratio carries the full definition.
What was Cornerstone Bank previously called?
The charter now named Cornerstone Bank has also operated as Spencer Savings Bank (1978-2017), per FDIC structure-change records.
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