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August 10, 2023

Cornerstone Bank breaks ground on new Shrewsbury branch

Photo | Courtesy of Cornerstone Bank Representatives from the Solidus team (from left, back row) Brian Flemming, principal and chief operating officer; Charlie Miller; executive vice president and director of sales and business development; Mahir Hameed, project manager; John Charette, president and CEO; Dave Lohneiss, senior field superintendent. Members of the Cornerstone Bank executive team (front row, from left) Altaf Ahmed, executive vice president, retail banking, branch administration; Maria Salvatore, executive vice president, chief culture officer, human resources; Todd Tallman, CEO; Randal Webber, president; Michael Quink, executive vice president, commercial banking

Worcester-based Cornerstone Bank broke ground on its 11th location, its first in Shrewsbury, on July 31.

The location at 195 Main St. across from the U.S. Postal Service processing center is expected to be completed in the winter, according to a Thursday press release from the bank.

“We are excited to start the construction for this new location,” Cornerstone Bank CEO Todd Tallman said in the press release. “We have a lot of customers in Shrewsbury and look forward to playing a more direct role in this vibrant town.”

The building is being designed and built by Solidus, a Hartford-based company which specializes in designing, building, and branding banks.

Cornerstone Bank is the 10th largest bank in Central Massachusetts, when ranked by local deposits as of June 30, 2022, according to the WBJ Research Department. It has $1.2 billion in local deposits and $1.5 billion in assets, as of March 31, according to the Federal Deposit Insurance Corp.

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