Worcester-based Cornerstone Bank broke ground on its 11th location, its first in Shrewsbury, on July 31.
The location at 195 Main St. across from the U.S. Postal Service processing center is expected to be completed in the winter, according to a Thursday press release from the bank.
“We are excited to start the construction for this new location,” Cornerstone Bank CEO Todd Tallman said in the press release. “We have a lot of customers in Shrewsbury and look forward to playing a more direct role in this vibrant town.”
The building is being designed and built by Solidus, a Hartford-based company which specializes in designing, building, and branding banks.
Cornerstone Bank is the 10th largest bank in Central Massachusetts, when ranked by local deposits as of June 30, 2022, according to the WBJ Research Department. It has $1.2 billion in local deposits and $1.5 billion in assets, as of March 31, according to the Federal Deposit Insurance Corp.
