On July 23, 2025, Cornerstone Bank, Spencer, Massachusetts, a subsidiary of PeoplesBancorp, MHC, Holyoke, Massachusetts, entered into a merger agreement pursuant to which Athol Savings Bank, Athol, Massachusetts, will merge into Cornerstone Bank, with Cornerstone Bank as the surviving entity.

Luse Gorman served as legal counsel to Cornerstone Bank in the transaction. The Luse Gorman team consisted of Scott Brown, Max Seltzer and Anahita Mohtasham-Gharagozloo.

Cornerstone Bank has 12 branch locations and approximately $1.65 billion in assets.

Athol Savings Bank has five branches and approximately $650 million in assets.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and on more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.