BOSTON, June 1, 2005 – To celebrate its successful merger with Plymouth Savings Bank, Eastern Bank drafted quarterback Doug Flutie to welcome customers today at three former Plymouth Savings locations.

Eastern completed the merger over Memorial Day Weekend, converting 65,000 former Plymouth Savings customer accounts to Eastern and changing signs and fixtures in 18 branches across southeastern Massachusetts, the South Shore and Cape Cod.

Flutie joined Eastern executives at branches in Lakeville, West Plymouth and Sandwich, handing out mini footballs and hosting passing contests. The prizes included authentic pro footballs autographed by Flutie.

"Merging two banks is a massive undertaking, and our planning helped the transition go very smoothly for our customers,” said Stanley J. Lukowski, Eastern’s chairman and CEO.  “We’re pleased to have Doug Flutie here to today to celebrate our success and to help us welcome our new customers.”

The Flutie appearance was the second major merger-related event hosted by Eastern.  The Eastern Bank Charitable Foundation made donations totaling $2.2 million on May 17 to 40 not-for-profit organizations in the Plymouth Savings market. The donations were made in honor of Eastern’s merger with Plymouth Savings, reflecting Eastern’s pledge to carry on Plymouth Savings’ commitment to serving the communities within its marketplace.

“This is why I enjoy working with Eastern Bank,” said Flutie, Eastern’s corporate spokesman.  “Eastern recognizes the importance of giving back to the community. And, as demonstrated by today’s events in Lakeville, West Plymouth and Sandwich, it also knows how to take care of its customers and to have a good time.”

The merger creates the state’s premier independent banking franchise with 73 branches and 1,800 employees serving 350,000 customers across Eastern Massachusetts and Cape Cod. The combined bank has $4.8 billion in deposits and $4.4 billion in commercial and consumer loans, while the investment management divisions will be responsible for $1.5 billion in assets under management.

No branches were closed as a result of the merger. Plymouth Savings’ corporate headquarters in Middleborough will become the southeast regional headquarters for the combined companies.

“By combining employees and resources, we have enhanced our ability to offer customers the best possible products,” said Richard E. Holbrook, Eastern’s president and chief operating officer. “We have said from the start that we would be ‘Better Together.’ Now that the integration is complete, that’s exactly what we will do.” 

About Eastern Bank Corporation
Based in Boston, Eastern Bank is the largest independent, mutually owned commercial banking franchise in New England.  With more than $6 billion in assets and 73 branches stretching from Merrimack Valley to Cape Cod, Eastern offers superior service, convenience and a full range of financial products for consumers, businesses, investors, government agencies and not-for-profit organizations.  Its subsidiaries are Eastern Insurance 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.