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K. Michael Robbins
Cornerstone Bank CEO K. Michael Robbins will retire at the end of 2020 after 34 years at the bank.
Robbins will remain as Cornerstone’s board chairman, the Spencer-based bank said in a statement, and current president, Todd Tallman, will take over as CEO.
“Mike has been a committed, loyal member of our family for so long, his name is practically synonymous with Cornerstone Bank,” Tallman said in the statement. “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.”
Cornerstone Bank was formed in 2017 when SpencerBANK, previously known as Spencer Savings Bank, merged with Southbridge Savings Bank. The banks’ holding companies and operations had merged the previous year.
Robbins joined Spencer Savings Bank in 1986 and became president and CEO in 2003. After the 2017 merger, Robbins became CEO and chairman, while Tallman, Southbridge Savings Bank’s leader, took on the role of president.
Under Robbins’ leadership, SpencerBANK’s total assets grew from $250 million to $600 million, the bank said. Cornerstone Bank now has total assets of $1.3 billion.
Robbins is board chairman at financial technology company COCC and a finance committee member at Harrington Hospital. He is also a board member of the Worcester Club and the Worcester Research Bureau and supports the Juvenile Diabetes Research Foundation.
“Knowing Mike, he’ll continue to be very active,” Tallman said. “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.”
Cornerstone Bank is a mutual savings bank with offices in Charlton, Holden, Leicester, Rutland, Southbridge, Spencer, Sturbridge, Warren, Webster and Worcester, along with a loan center in Westborough.
