Cornerstone Bank
Spencer, Massachusetts · $2.57B in assets · beside the 11 other Massachusetts banks between $1B and $3B
The filing
Cornerstone Bank is the fifth largest of the 12 Massachusetts banks nearest its size between $1B and $3B, with $2.57B in assets at 30 June 2026. Loans are 99.8% of deposits, 9th of 12 against a median of 93.1%, and equity is 8.8% of assets, 10th of 12. Loans grew +38.0% in the year, the fastest in the cohort, and deposits grew 45.2%; the cohort's median loan growth is +4.0%.
Noncurrent loans are 0.35% of the book, 3rd of 12 against a median of 0.74%; 0.07% is 30 to 89 days past due, and the allowance covers them 1.3 times. Commercial real estate is 30.9% of loans, 4th of 12 against a median of 36.6%, and 260% of capital, below the 300% screen, with construction at 14% against the 100% screen. CRE has grown +58.8% over 36 months, past the guidance's 50% prong.
Return on assets is 0.59%, 8th of 12 against a median of 0.71%, on an efficiency ratio of 83.5%, 11th of 12. Five years ago it was 0.61%. The question is whether the new lending seasons as cleanly as the book it joined, and what funded it.
SBA 7(a), FY2008 to FY2026
Cornerstone Bank is the 35th largest 7(a) lender into Massachusetts of 309, with $37M across 229 loans, 0.6% of everything approved in the state (Eastern Bank leads with $778M). 14 of its 19 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.
| County | Approved | Rank | Share | Trend |
|---|---|---|---|---|
| Worcester, MA | $26M | 7th of 140 | 3.5% | -1.9 pts |
| Middlesex, MA | $7M | 40th of 190 | 0.5% | -0.4 pts |
| Sagadahoc, ME | $1M | 11th of 30 | 3.8% | quiet FY2019 |
| Norfolk, MA | $651K | 97th of 145 | 0.1% | thin |
| Plymouth, MA | $650K | 68th of 107 | 0.1% | quiet FY2013 |
| Kennebec, ME | $632K | 22nd of 35 | 0.9% | quiet FY2019 |
| Hampshire, MA | $576K | 33rd of 55 | 0.7% | thin |
| Bristol, MA | $568K | 68th of 112 | 0.1% | quiet FY2019 |
| Androscoggin, ME | $480K | 21st of 37 | 0.6% | quiet FY2018 |
| Hillsborough, NH | $400K | 82nd of 117 | 0.1% | quiet FY2018 |
| Barnstable, MA | $380K | 60th of 84 | 0.1% | quiet FY2015 |
| Providence, RI | $350K | 79th of 99 | 0.1% | quiet FY2019 |
| Essex, MA | $325K | 104th of 129 | 0.0% | quiet FY2017 |
| Industry | Loans | Approved | Share of book | Share of sector | Rank |
|---|---|---|---|---|---|
| Retail trade | 53 | $15M | 38.1% | 0.03% | 369th of 2,589 |
| Wholesale trade | 11 | $4M | 11.1% | 0.02% | 479th of 1,651 |
| Manufacturing | 15 | $3M | 7.9% | 0.01% | 882nd of 2,246 |
| Administrative & waste services | 26 | $3M | 7.1% | 0.02% | 456th of 1,763 |
| Accommodation & food services | 26 | $3M | 7.1% | 0.00% | 1073rd of 2,596 |
Commercial real estate against capital
| Cornerstone Bank | Rank | Cohort median | |
|---|---|---|---|
| Total CRE against capital, the 300% screen | 260% | 6th of 12 | 270% |
| Construction against capital, the 100% screen | 14% | 2nd of 12 | 41% |
| Construction and land development, share of loans | 1.7% | 1st of 12 | 5.8% |
| Non-owner-occupied nonfarm nonresidential, share of loans | 22.9% | 7th of 12 | 22.4% |
| Total CRE, the guidance definition, share of loans | 30.9% | 4th of 12 | 36.6% |
| CRE growth over 36 months, the third prong | +58.8% | 12th of 12 | +15.9% |
Among its peers
| Institution | Assets | ROA | Efficiency | NPA / loans | Net charge-offs | Allowance / loans | Loans / deposits | Equity / assets |
|---|---|---|---|---|---|---|---|---|
| $2.86B | 0.5% | 84.8% | 1.45% | 0.12% | 1.2% | 91.7% | 9.0% | |
| $2.77B | 1.0% | 65.3% | 0.75% | -0.03% | 1.1% | 101.2% | 12.2% | |
| $2.73B | 0.7% | 68.2% | 0.35% | 0.17% | 0.9% | 91.3% | 9.3% | |
| $2.60B | 0.9% | 73.2% | 1.15% | 0.00% | 0.7% | 98.9% | 11.2% | |
| $2.57B | 0.6% | 83.5% | 0.35% | 0.04% | 0.4% | 99.8% | 8.8% | |
| $2.52B | 0.7% | 69.1% | 0.24% | 0.00% | 0.9% | 76.8% | 9.6% | |
| $2.24B | 0.8% | 70.0% | 1.14% | 0.00% | 1.0% | 101.6% | 14.2% | |
| $2.07B | 0.5% | 75.9% | 0.23% | 0.00% | 0.5% | 94.5% | 8.5% | |
| $2.02B | 0.5% | 69.6% | 1.67% | 0.08% | 1.2% | 91.2% | 9.7% | |
| $2.01B | 0.7% | 68.3% | 0.46% | 0.01% | 0.7% | 71.5% | 10.7% | |
| $1.90B | 0.8% | 61.7% | 1.03% | 0.01% | 1.3% | 90.2% | 12.3% | |
| $1.86B | 0.4% | 83.5% | 0.73% | -0.02% | 0.7% | 105.2% | 7.4% |
| Cornerstone Bank | Cohort median | |||||
|---|---|---|---|---|---|---|
| 2021 | 2026 | Change | 2021 | 2026 | Change | |
| Loans | $1.17B | $1.93B | +65% | $1.18B | $1.73B | +46% |
| Deposits | $1.15B | $1.94B | +68% | $1.52B | $1.87B | +23% |
| NPA / loans | 0.58% | 0.35% | -0.24 pts | 0.34% | 0.74% | +0.40 pts |
| Efficiency | 75.3% | 83.5% | +8.2 pts | 67.2% | 69.8% | +2.6 pts |
| ROA | 0.61% | 0.59% | -0.02 pts | 0.92% | 0.71% | -0.21 pts |
This read was prepared for Cornerstone Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.
The full pack on Cornerstone Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.
Ask for the packPrepared 7 September 2026
Filing 30 June 2026
Cohort MA banks $1B to $3B
Institution www.cornerstonebank.com
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