Cornerstone Bank (Spencer, MA)
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Data as of · sourced from FFIEC call reports. How we update
Cornerstone Bank is an FDIC-insured commercial bank headquartered in Spencer, MA, established in 1871 (FDIC certificate 90282), and it is supervised by the Federal Reserve. At Q2 2026 it reported total assets of $2.57B, up 49.0% from Q2 2025, the 21st largest of 89 banks headquartered in Massachusetts. Its CET1 capital ratio was 11.84% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- Federal Reserve
- Deposit insurance
- FDIC
- FDIC certificate
- 90282
- Headquarters
- Spencer, MA
- Established
- 1871
- Total assets, Q2 2026
- $2.57B
- Assets vs Q2 2025
- +49.0%
- CET1 ratio, Q2 2026
- 11.84%
- Domestic offices
- 17 FDIC institution directory, current count
- Routing number
- 211371735
- Holding company
- PEOPLESBANCORP, INC
- Asset rank in state
- 21st of 89 in Massachusetts
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%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Cornerstone Bank is the 21st largest of the 89 banks headquartered in Massachusetts. Between Q1 2026 and Q2 2026, its total assets rose 7.4% to $2.57B, loans rose 3.7% and deposits fell 0.6%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 52.4% of total loans, ahead of non-owner-occupied commercial real estate loans at 22.9%. The FDIC Summary of Deposits lists 17 offices for it, in 15 cities in MA; its Spencer office books 15% of its branch deposits. On its Q2 2026 call report, Cornerstone Bank meets every capital ratio test for well capitalized.
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)
- Domestic offices
- 17 FDIC institution directory, current count
- 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
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, Cornerstone Bank's total assets ran between $1.56B (Q3 2023) and $2.57B (Q2 2026), and it earned a profit in 10 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$2.57B total assets against $1.73B; $2.35B total liabilities against $1.58B.
$1.93B net loans and leases against $1.39B; $1.94B total deposits against $1.33B.
$354.1M securities against $137.5M; $110.6M cash and balances due against $67.2M.
$29.7M total interest income against $19.1M; $11.1M total interest expense against $9.2M.
$18.6M net interest income against $9.8M.
$3.8M total noninterest income against $3.4M; $18.9M total noninterest expense against $12.1M.
$187K provision for credit losses against -$223K.
$3.1M net income against $1.2M.
0.51% return on assets against 0.29%; 3.29% net interest margin against 2.49%.
11.84% CET1 capital ratio against 12.67%; 9.22% tier 1 leverage ratio against 9.63%.
Inside the full Cornerstone Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this 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
Its closest position to the top of a national ranking is 485 of 4,196, for total assets; its furthest is 3,296 of 3,606, for efficiency ratio.
Banks merged into Cornerstone Bank
- Athol Savings Bank, effective January 1, 2026
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from -0.75% (Q4 2024) to 1.11% (Q4 2025) and its net interest margin ran from 2.16% (Q3 2024) to 3.29% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.84% | 0.51% | 0.35% | 3.11% | 3.29% |
| Q1 2026 | 12.51% | 0.67% | 0.36% | 3.09% | 3.10% |
| Q4 2025 | 12.44% | 1.11% | 0.40% | 3.52% | 2.63% |
| Q3 2025 | 12.27% | 0.14% | 0.49% | 4.24% | 2.63% |
| Q2 2025 | 12.67% | 0.29% | 0.50% | 4.30% | 2.49% |
| Q1 2025 | 13.01% | 0.39% | 0.26% | 2.14% | 2.30% |
| Q4 2024 | 13.58% | -0.75% | 0.18% | 1.46% | 2.18% |
| Q3 2024 | 11.21% | -0.27% | 0.26% | 2.50% | 2.16% |
Swipe the table sideways to see every column.
Branch Network
View all 17 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| 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
Facts as filed or published, not a rating.
- Deposit market share
- 0.3% of deposits in MA, rank 30 of 112 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).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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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.
Where is Cornerstone Bank headquartered?
It is headquartered in Spencer, MA, United States.
When was Cornerstone Bank founded?
It was established in 1871, per the FDIC institution directory.
Is Cornerstone Bank FDIC-insured?
Yes. It 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.
What is Cornerstone Bank's CET1 capital ratio?
It 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?
It 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?
Its Texas Ratio is 3.11% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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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