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Randal Webber
Worcester-based Cornerstone Bank has made another move in its succession plan ahead of CEO K. Michael Robbins’ planned retirement at the end of the year.
Randal Webber will take on the role of bank president on Jan. 1, the bank said in a statement. Webber is currently Cornerstone Bank’s executive vice president, chief operating officer and chief lending officer.
The bank had announced in September that current Cornerstone President Todd Tallman would take over as CEO on Jan. 1. Following his retirement as CEO, Robbins will remain as chairman of the board. The bank has about $1.3 billion in assets.
“Randy has contributed enormously in helping Cornerstone honor our commitment to enhancing the vitality of local communities and the well-being of all of our customers,” Tallman said in a statement. “His strategic and managerial skills go far beyond the lending discipline. I’ve found his insights on retail and digital banking to be invaluable – not only in relation to our products and services, but also the professional development of our team members.”
Webber had joined SpencerBANK in 2009 as senior vice president and chief risk officer and become chief lending officer in 2012. When SpencerBANK and Southbridge Savings Bank merged in 2016 to form Cornerstone Bank, Webber was named executive vice president and chief operating officer. He is on the board of the Worcester State University Foundation.
Todd Tallman
Tallman, a certified public accountant, began his career at KPMG and joined Southbridge Savings Bank in 1998 as chief financial officer. He became president and CEO in 2014 and then took on the roles of Cornerstone president and treasurer after the merger. Tallman is on the boards of several nonprofit organizations, including Big Brothers Big Sisters of America, and is past president of the United Way of Southbridge, Sturbridge and Charlton.
“Knowing Todd as well as I do, I am fully confident he will serve as an outstanding CEO,” Robbins said in a statement last month. “Todd’s management, leadership and professional skills – not to mention that he’s a fine, caring individual by nature – make him eminently qualified for this position.”
