BOSTON, Sept. 12, 2005 – Greenwich Associates, a leading independent financial consulting and research firm, today recognized Eastern Bank for “service excellence” for business banking.

Eastern was one of 40 banks nationwide to receive the 2005 Excellence in Business Banking Award, as determined by a biennial survey by Greenwich Associates.  This year, the survey included interviews with 22,000 businesses with annual sales of $1 million to $10 million, in 66 major markets.

“When it comes to providing superior service to businesses, this award demonstrates that nobody does it better in Massachusetts than Eastern,” said Robert E. Griffin, executive vice president for commercial banking at Eastern.  “It is an honor to be recognized for service excellence, because service is what sets us apart from our competitors.”

About 650 commercial banks were eligible for an award, which was given to those whose distinctive satisfaction rating was at a 95 percent or greater confidence level, as rated by survey respondents. Eastern was a Northeast regional winner for overall banking services.

It is the second honor bestowed upon Eastern this year for service to businesses.  In June, Joseph Riley, senior vice president for Small Business Banking at Eastern, received the Massachusetts Small Business Champion Award from the U.S. Small Business Administration.

About Eastern Bank
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, investment management clients, 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.