Robbins to Retire at Year-End as Cornerstone Bank CEO; Will Remain as Chairman

Cornerstone Bank Chairman & CEO K. Michael Robbins

Worcester, MA—After 34 years of dedicated service at Cornerstone Bank, K. Michael Robbins will be retiring as the Bank’s CEO on December 31, 2020; Mike will continue to serve as the Bank’s Chairman. The announcement was made by Cornerstone Bank President Todd Tallman.

“Mike has been a committed, loyal member of our family for so long, his name is practically synonymous with Cornerstone Bank,” states Tallman. “He has always put the needs of customers first, and diligently worked to ensure that everything Cornerstone did was for the well-being of the community and its residents. In fact, Mike considered support of our community to be his greatest responsibility.”

After serving in various senior level positions at Spencer Savings Bank from 1986 through 2003 and President & CEO at Spencer Savings Bank/SpencerBANK from 2003 through 2017, Robbins assumed the roles of Chairman & CEO at Cornerstone Bank. Under Robbins’ leadership, SpencerBANK’s total assets grew from 250 million to 600 million dollars. In 2016, SpencerBANK and Southbridge Savings Bank created a merger of equals forming Cornerstone Bank with total assets today of 1.3 billion dollars. His professional affiliations include Chairman of the Board at COCC, a financial technology company serving financial institutions, as well as Finance Committee Member at Harrington Hospital. Robbins is also a Board Member of the Worcester Club and the Worcester Research Bureau and is supportive of the Juvenile Diabetes Research Foundation.

“Knowing Mike, he’ll continue to be very active,” adds Tallman, who will replace Robbins as CEO. “Between golf, antique cars and traveling, he’ll be as busy as ever. I learned a great deal from Mike and we developed a very deep and lasting friendship. I wish him and his wife Cathy all the best in the years ahead—and every happiness in the world.”

About Cornerstone Bank:

Cornerstone Bank is an independent, mutual savings bank serving the residents, businesses, and communities throughout Central Massachusetts from offices in Charlton, Holden, Leicester, Rutland, Southbridge, Spencer, Sturbridge, Warren, Webster, and Worcester, along with a Loan Center in Westborough. 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. For more information, visit online at cornerstonebank.com, on Facebook, or call 800-939-9103.

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