SOUTHBRIDGE SAVINGS BANK

Southbridge Savings Bank was a financial institution based in Southbridge, Massachusetts. Established as a savings bank, it became FDIC insured on September 8, 1981, and operated under Federal Deposit Insurance Corporation supervision. On October 7, 2008, the main office was relocated to 253-257 Main Street, Southbridge, Massachusetts. The institution underwent significant regulatory changes on January 29, 2014, when it changed its primary federal regulatory agency to the Federal Reserve and became a member of the Federal Reserve System, reclassifying itself as a state-chartered bank. On June 12, 2017, Southbridge Savings Bank changed its name to Cornerstone Bank and merged with Cornerstone Bank in Spencer, Massachusetts, marking the end of its independent operations.

Below is a list of some important events in banks history, including mergers and acquisitions.

DATEEVENT

1981-09-08FDIC Certificate number changed to .

1981-09-08Became FDIC insured.

1981-09-08Main Office moved to 253-257 Main Street, Southbridge, MA 01550.

2008-10-07Changed Organization Type to Stock Savings Bank.

2008-10-07Main Office moved to 253 Main Street # 257, Southbridge, MA 01550.

2014-01-29Institution becomes member of the Federal Reserve System.

2014-01-29Changed Bank Class to State Chartered Bank, member of the Federal Reserve System (FRS).

2014-01-29Changed Primary Federal Regulatory Agency to FED.

2017-06-12Merged and became part of Cornerstone Bank in Spencer, MA.

2017-06-12Changed Institution Name to Cornerstone Bank.