HYANNIS, Aug. 29, 2005 – Just three months after completing its merger with Plymouth Savings Bank, Eastern Bank has expanded its operations on Cape Cod by opening a new lending and investment office in Hyannis, the bank announced today.

The new office features representatives from Commercial Banking, Mortgage Banking and Eastern Investment Advisors, the bank’s asset management division.  The opening underscores Eastern’s commitment to enhance service for existing customers, while extending its reach to attract new customers in the mid-Cape region.

“The Cape is an important market for Eastern, and this move reflects our commitment to being a leader in both service and convenience in the region,” said Charles H. Ritch, regional president of Eastern Bank.

The new office is located at 297 North Street in Hyannis.  Eastern already has five branches and two mortgage offices serving Cape Cod.  Leading the new office will be:

• Charles DeSimone, vice president in Commercial Banking.  A resident of South Yarmouth, DeSimone has more than 20 years experience working with businesses on Cape Cod;
• William Thomas, managing director of Eastern Investment Advisors.  A resident of Orleans, Thomas came to Eastern in January from Baring Asset Management. He has more than 30 years experience helping individuals and not-for-profit organizations meet their investment needs;
• Patti DeRosa-Lotane, vice president in Mortgage Banking.  A resident of Yarmouth, Lotane has 15 years experience in the mortgage industry, all of which have been spent on the Cape;
• Susan “Sam” McCaffrey, loan officer in Mortgage Banking.  A resident of Marstons Mills, McCaffrey recently rejoined the bank.  She has more than 20 years in the mortgage business and will be focusing on helping homebuyers in the mid-Cape region.

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.