NEWTON, Mass., July 13, 2004 – Eastern Bank will open a new, full-service branch in Auburndale on July 19, its second location in Newton and 53rd in Greater Boston, the bank announced today.

The branch, located at 2060 Commonwealth Ave., will offer a full-range of personal and commercial banking products, including free checking, home equity loans, investment services, business checking accounts and loans.

"We’re excited to extend the Eastern Bank brand of banking – high-quality, personalized customer service, financial solutions and community support – in Auburndale and the surrounding neighborhoods," said Gary Coltin, senior vice president of Retail Banking.

The branch hours will be Monday through Thursday from 8:30 a.m. to 5 p.m., Friday from 8:30 a.m. to 6 p.m. and Saturday from 9 a.m. to 1 p.m. Ample parking is available in the bank’s lot, adjacent to Star Market and Bruegger’s Bagels.

Demetrios Mavrommatis, of Wellesley, will serve as the branch manager, heading a team of seven staff members. Prior to joining Eastern, Mavrommatis served as branch manager with Boston Federal Savings Bank in Needham. He earned his bachelor’s degree in computer science from the University of Louisiana and an MBA in management from Lesley University in Cambridge.

Based in Boston, Eastern Bank is the largest independent, mutually owned commercial bank in New England. With $5.1 billion in assets and 53 branches in Greater Boston, Eastern offers a full range of financial products for consumers, businesses, investors, government agencies and not-for-profit organizations. Its wholly owned subsidiaries are Eastern Insurance, one of New England’s largest insurers, and Fantini & Gorga, a real estate advisory firm.

For more information, contact: Joe Bartolotta, Public Relations Director, Eastern Bank, (781) 596-4411, or e-mail Joe Bartolotta.