News Release Cornerstone Bank: 1/15/2021
SOUTHBRIDGE, Mass. – Cornerstone Bank, a community bank with 12 locations throughout central Massachusetts, has elevated two executives to new leadership roles effective January 1. Todd Tallman, formerly the Bank President and Treasurer, assumes the role of Chief Executive Officer (CEO.) Randal D. Webber, formerly Cornerstone’s Executive Vice President, Chief Operating Officer and Chief Lending Officer, will now serve as President. Both appointments were announced in the fall.
Of his appointment, new Cornerstone Bank CEO Todd Tallman said, “I am honored to assume the role of CEO and wish to thank the Cornerstone Bank Board of Directors for the trust they have placed in me. I’m excited and invigorated to continue the institution’s legacy as a trusted community bank.”
A seasoned financial professional and banking veteran, Tallman began his career as a certified public accountant before joining the banking world in 1998. First serving as Chief Financial Officer of Southbridge Savings Bank, he was promoted to President/CEO in 2014. Then, when Southbridge Savings Bank and SpencerBANK merged in 2016 to form Cornerstone Bank, Tallman was named President and Treasurer. With a passion for enriching the lives of others and supporting his community, he serves on the board of several nonprofit organizations and is a past president of the United Way of Southbridge, Sturbridge and Charlton.
New President Randal Webber spoke highly of Tallman, his predecessor, recognizing the big shoes he must fill as he assumes his new role. “Todd has always been a strategic leader. I am honored to follow in his footsteps and build upon the strong foundation he laid as I assume the role of president.”
Webber joined SpencerBANK in 2009 as Senior Vice President Chief Risk Officer, until being promoted to Executive Vice President, Chief Lending Officer in 2012. When Cornerstone Bank was formed in 2016, he was named Executive Vice President, Chief Operating Officer. Through each Executive-level role, he helped continue a growth trajectory in the Bank’s commercial and retail service and operations, particularly within its commercial portfolio. Webber currently serves on the board of the Worcester State University Foundation.
About Cornerstone Bank
Cornerstone Bank is an independent, mutual savings bank serving residents, businesses and communities throughout Central Massachusetts. Our customer promise, Built on Trust, is not just a brand, but also a corporate focus. Whether a business or personal partnership, Cornerstone Bank rests on the foundation that relationships are built on trust. Deposits are insured in full by a combination of the Federal Deposit Insurance Corporation and the Depositors Insurance Fund. The Bank is an Equal Opportunity Employer, Equal Housing Lender and SBA Preferred Lender. To learn about Cornerstone Bank’s personal and business banking offerings, please visit cornerstonebank.com or call 800-939-9103.