Special Announcement:Athol Savings Bank is merging with Cornerstone Bank!
We are stronger and more capable than ever before.
Athol Savings Bank is continually taking steps to grow and support our customers, community and employees.
Today, Athol Savings Bank and Cornerstone Bank, a subsidiary of PeoplesBancorp, MHC announced the execution of a merger agreement, pursuant to which Athol Savings Bank (“ASB”) will merge with and into Cornerstone Bank. As part of the merger, ASB will operate as a division of Cornerstone Bank, maintaining its name and five branch locations. This strategic move will allow ASB to bring Cornerstone’s full suite of digital banking services and customer-focused innovations to our market and customers.
Cornerstone Bank’s strong financial performance and customer-first approach align well with ASB’s commitment to finding real, local solutions for customers. ASB customers can expect the same genuine service with even better technology and improved access to financial planning tools on a more robust digital platform, elevating their overall banking experience.
Pending approval, this partnership will begin in early 2026.
Exact merger dates will be announced pending regulatory and other required approvals; however, the transaction will likely occur near the start of 2026.
We’re here to answer your questions.
We have always set out to make banking as easy as it can be, and that’s exactly what we intend to do throughout this process. We will communicate as much information with you as possible, as quickly as possible. We are eager to answer any questions you may have about the merger, and below, you will find a list of Frequently Asked Questions, to address any initial common concerns. As always, you may also send us a message at info@ibankasb.com, give us a call, or come talk to us at a branch if you have any additional questions.
We appreciate and value your business!
On behalf of all of us at Athol Savings Bank, we deeply appreciate your continued business. Thank you in advance for joining us in our enthusiasm about this exciting moment and the abundance of possibilities it brings our bank, our communities, and of course, our customers.
Customers will experience no change in service.
FAQs
Why is Athol Savings (ASB) merging with Cornerstone Bank?
Both banks boast a strong financial performance and are aligned in terms of their missions and core
values, as well as their commitment to mutuality. The synergy between ASB and Cornerstone will
enhance operational efficiency, expand product offerings, and improve customer service through
shared resources and technology.
The combined scale allows for greater lending capacity, stronger capital positions, and better
resilience in a competitive financial landscape. Together, we can achieve strategic growth while
maintaining a community-first approach rooted in mutual values.
This strategic move allows ASB to bring Cornerstone’s full suite of digital banking services, new lines
of business, and customer-focused innovations to our customers, while preserving the trusted local
brand that ASB has built.
When will the merger take place?
Exact dates will be announced pending regulatory and other required approvals; however, we are
hopeful the transaction will be complete near the start of 2026.
Will the ASB name change?
Athol Savings Bank will retain its name for the immediate future, with the addition of “A Division of
Cornerstone Bank”.
Will ASB leadership be incorporated into Cornerstone Bank?
ASB President & CEO, Dan Zona, will become the President of Cornerstone Bank, replacing
Cornerstone Bank President, Randy Webber, who is retiring. Dan will report to Cornerstone Bank CEO,
Todd Tallman. Other senior leaders at ASB are also being offered positions at Cornerstone.
In addition, Dan Zona will join the Cornerstone Bank Board of Directors as they welcome four new
members.
Will there be changes to ASB staffing?
Customers can expect to see the same faces at their local branches. All ASB employees will be invited
to remain as employees of Cornerstone Bank in the same or similar positions.
Are there plans to close any branches?
There are no plans to close any of the five ASB branches or 12 Cornerstone branches.
What can customers expect?
Our goal is to make the transition as seamless and transparent as possible for everyone. Most
changes will occur behind the scenes as we combine our systems and processes. Any necessary
changes once the merger is complete will be communicated well in advance.
Will the support of the community change?
No. As a combined organization, we will be enhancing our commitment to charitable giving,
community involvement and volunteerism.
Do we anticipate a system conversion with the merger?
Yes. Sometime in the first half of 2026, ASB is expected to convert onto the Cornerstone core
system. Fortunately, ASB currently runs a similar technology infrastructure as Cornerstone, so it will
look very similar for most staff members. However, some products and services may change.
What if I have more questions?
Please reach out or stop by a branch! We are excited to answer all your questions relating to this
merger. You may send us a message via email at info@ibankasb.com, give us a call or come talk to us
at a branch location.