Cornerstone Bank Announces Merger with Athol Savings Bank, Expanding its Footprint in Worcester County and North Central Massachusetts
Cornerstone Bank, a subsidiary of PeoplesBancorp, MHC, and Athol Savings Bank announced today the execution of a merger agreement, pursuant to which Athol Savings Bank (ASB) will merge with and into Cornerstone Bank, which will expand Cornerstone into a new and vibrant region in north central Massachusetts. As part of the merger, ASB will operate as a division of Cornerstone Bank, maintaining its name and five branch locations. This strategic move allows Cornerstone Bank to bring its full suite of digital banking services and customer-focused innovations to an expanded clientele, while preserving the trusted local brand that ASB has built.
PeoplesBank and Cornerstone Bank Announce Merger of Holding Companies
Following a unanimous vote from their boards, PeoplesBank and Cornerstone Bank have announced that they have entered into a definitive agreement to combine their holding companies in a merger transaction. While the merger agreement between PeoplesBancorp, MHC and SSB Community Bancorp MHC will unify holding companies, both banks will continue operating under separate names and brands for the foreseeable future.
