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Cornerstone Bank

Spencer, MA · Cert 90282 · Peoplesbancorp MHC

State charter, Fed member · FED · 1 affiliate bank · 17 branches (38 in holding)

Q2 2026

$2.6BAssets
$1.9BLoans
$1.9BDeposits
$227.5MEquity
Loan mix
89%RE $1.7B5%C&I $0.1B7%Consumer $0.1BQ2 2025Q2 2026
Deposit mix
83%Interest-bearing $1.6B17%Noninterest $0.3BQ2 2025Q2 2026

NIM

4.30%Q2 ’244.50%Q2 ’254.91%Q2 ’26+7%+34%

Non-interest income vs. expense

2.63%Q2 ’242.85%Q2 ’253.12%Q2 ’26+2%+22%

Market Position · Worcester, MA · 2026 SOD (annual) · 8.6% share · #4 of 26 inst. · $1.9B of $22.5B

Executive Summary

  • Earnings: ROA of 0.50%, up 21 bps year over year; NIM at 3.10%.
  • Asset quality: problem loans at 0.35% of loans (-16 bps YoY), with net charge-offs at 0.05%.
  • Capital: tier 1 leverage ratio of 9.22%, down 40 bps from a year ago.
  • Funding: loans stand at 99.84% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

0.50%+21 bps YoY

Net Interest Margin (quarter, annualized)

3.10%+78 bps YoY

Efficiency Ratio (quarter, annualized)

81.71%-938 bps YoY

Tier 1 Leverage Ratio

9.22%-40 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.29%0.14%1.09%0.77%0.50%+21 bps
Return on Equity3.27%1.55%12.45%8.34%5.42%+215 bps
Net Interest Margin2.32%2.45%2.46%2.89%3.10%+78 bps
Efficiency Ratio91.10%96.61%93.52%80.30%81.71%-938 bps
Non-Interest Burden2.05%2.35%2.26%2.25%2.49%+45 bps
Growth
Asset Growth (YoY)6.70%7.43%8.50%40.46%49.01%+4,231 bps
Loan Growth (YoY)5.72%7.46%8.98%37.18%37.97%+3,226 bps
Deposit Growth (YoY)4.25%6.02%8.54%44.49%45.15%+4,090 bps
Asset Quality
Nonperforming Loans / Loans0.50%0.49%0.40%0.36%0.35%-16 bps
Net Charge-Offs / Loans-0.02%0.01%0.01%0.02%0.05%+8 bps
Allowance / Loans0.81%0.77%0.42%0.45%0.45%-36 bps
Allowance Coverage of NPLs1.6x1.6x1.1x1.3x1.3x-0.3x
Capital
Tier 1 Leverage Ratio9.63%9.49%9.58%9.23%9.22%-40 bps
Total Risk-Based Capital13.56%13.11%12.90%13.00%12.31%-125 bps
Equity / Assets8.83%8.74%8.77%9.57%8.84%+1 bps
Liquidity & Funding
Loans / Deposits105.03%104.91%102.54%95.65%99.84%-519 bps
Liquid Assets / Assets1.66%1.80%4.60%3.14%2.30%+64 bps
CRE / Total Capitaln/a352%350%306%n/an/a