PeoplesBank, Cornerstone Bank Among Most Charitable Companies in Massachusetts

HOLYOKE — The Boston Business Journal named both PeoplesBank and Cornerstone Bank to its annual list of the most charitable companies in Massachusetts, recognizing the two mutual banks — both part of PeoplesBancorp, MHC — among the Commonwealth’s leading corporate philanthropists.

The list honors 95 companies whose combined giving totaled more than $417 million in cash contributions to Massachusetts nonprofits over the past year, along with more than $42 million in in-kind support. The Boston Business Journal will unveil the official rankings at its Corporate Citizenship Awards on Wednesday, Sept. 16 at Big Night Live in Boston.

For PeoplesBancorp, MHC, seeing both of its member banks recognized reflects a shared, long-standing commitment to strengthening the communities they serve. As mutual banks with no outside shareholders, PeoplesBank and Cornerstone Bank reinvest their resources in the people, neighborhoods, and nonprofit organizations across the regions they call home.

“Giving back has always been central to who we are as mutual banks,” said Todd Tallman, CEO of PeoplesBank, Cornerstone Bank, and PeoplesBancorp, MHC. “To be recognized by the Boston Business Journal alongside so many respected Massachusetts institutions is a real honor — but the greater reward is the impact our teams make every day in the communities we serve. To see both PeoplesBank and Cornerstone Bank recognized together is a source of real pride for everyone across our organization.”

The recognition reflects a commitment shared across both banks and their associates. Responding to rising need across the communities it serves, PeoplesBank increased its charitable giving by 12.5% in 2025, raising its contributions to $1.8 million. That support reached hundreds of charitable organizations across its market, including the Care Center and Martin Luther King, Jr. Family Services in Massachusetts and Connecticut Foodshare and Hands on Hartford in Connecticut.

“As a mutual organization, we answer to our communities rather than to outside shareholders, and that shapes everything we do,” said Brian Canina, president of PeoplesBancorp, MHC and PeoplesBank. “For us, giving back goes well beyond dollars. Last year alone, PeoplesBank associates contributed nearly 10,000 volunteer hours, rolling up their sleeves alongside the nonprofit partners who make our communities stronger. This honor belongs to them, and we are proud to stand among the most charitable companies in Massachusetts.”

For Cornerstone Bank, giving back is woven into a legacy of community banking that spans more than 150 years in Central Massachusetts. Over the past year, Cornerstone Bank contributed more than $566,000 to local organizations and awarded 16 scholarships to graduating high school seniors, while supporting groups including the Worcester County Food Bank, the Rise Above Foundation, the EcoTarium, and the Quaboag Valley Community Development Corp.

“Our customers and neighbors are at the heart of everything we do,” said Daniel Zona, president of Cornerstone Bank. “To be named among the most charitable companies in Massachusetts reflects the dedication of our associates and the deep roots we share with the communities we serve. We are honored to give back to the places that have supported us for generations.”