BOSTON, Mass., Jan. 13, 2004 – Eastern Bank today announced that John Bitner, senior vice president and chief economist, has been appointed to the American Bankers Association Economic Advisory Committee (EAC). 

“I’m pleased to have an opportunity to share my ideas with the decision-makers in Washington and to hopefully make a difference for the better,” said Bitner, who will join nine bankers from around other leading financial services companies from around the country. 

Appointed for a one-year term by the chairman of the American Bankers Association, EAC members meet in Washington twice a year to develop a consensus economic forecast to guide the banking industry and policy makers.

The forecast will be presented to representatives of the Federal Reserve Board of Governors and the Council of Economic Advisors on Jan. 20 in Washington.  The economists will also present their findings to the media in a press conference at the ABA on Jan. 21.

 “John Bitner’s expertise will bring a valued voice to the committee,” said James Chessen, chief economist of the American Bankers Association.  “This year, the EAC will examine the outlook for indicators such as manufacturing, employment and the housing market.  John’s New England viewpoint will be an important component as the committee forecasts the coming year.” 

Other members of the committee are:

• Alison Lynn Reaser (EAC chair), chief economist and managing director, Banc of America Capital Management, St. Louis, Mo.;
• Richard DeKaser (EAC vice-chair), senior vice president and chief economist, National City Corporation, Cleveland, Ohio;
• Robert C. Allsbrook, senior vice president and chief economist, AmSouth Bank, Birmingham, Ala.;
• Paul Brewbaker, senior vice president and chief economist, Bank of Hawaii, Honolulu, Hawaii;
• Brian Keyser, chief U.S. economist, Citigroup Asset Management, New York, N.Y.;
• Robert McGee, chief economist, U.S. Trust Company, New York, N.Y.;
• John Silvia, chief economist, Wachovia Corporation, Charlotte, N.C.;
• Sung Won Sohn, executive vice president and chief economic officer, Wells Fargo & Company, Minneapolis, Minn.; and
• Diane Swonk, chief economist, Bank One Corporation, Chicago, Ill. 

Based in Boston, Eastern Bank is the largest independent, mutually owned commercial bank in New England.  With $4.7 billion in assets and 51 branches in Greater Boston, Eastern offers a full range of financial products for consumers, businesses, investors, government agencies and nonprofit organizations. Its wholly owned subsidiaries are Eastern Insurance, one of New England’s largest insurers, and Fantini & Gorga/iCap Realty Advisors, a real estate advisory firm. 

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