BOSTON, Mass., March 22, 2004 – Eastern Bank opened its first branch in Newton this morning after completing its acquisition of Middlesex Bank & Trust Company, which had one branch in Newton Highlands.

Located at 188 Needham Street, the branch is Eastern’s 52^nd location and the fifth new location added by Eastern in the past year.  The branch’s consumer and business accounts have all been converted to Eastern.

“We are pleased to be open in Newton and everyone here at Eastern looks forward to serving residents and businesses in that area,” said Mark Primeau, executive vice president for consumer banking at Eastern.

“The sign on the building has changed, but it will be business as usual at the branch,” Primeau said.  “Customers can expect the same quality service, along with the added benefit of Eastern’s large array of consumer, commercial and investment management products and services.”

Eastern today also announced it is expanding the hours of operation at the branch effective immediately, including the addition of Saturday hours.  The new hours are Monday, Tuesday, Wednesday and Friday from 8:30 a.m. to 5 p.m., Thursday from 8:30 a.m. to 6 p.m., and Saturday from 9 a.m. to noon.

Founded in 1997, Middlesex Bank & Trust is a division of Westport National Bank, a nationally chartered commercial bank with its headquarters in Westport, Conn.  The sale of the branch was announced in the fall and received regulatory approval.  The branch has approximately $27 million in deposits.

This summer, Eastern plans to open a second Newton location at 2060 Commonwealth Ave. in Auburndale.  The new locations are part of a branch expansion program that calls for 18-20 new locations over a five-year period.

“Eastern is committed to providing its customers with superior service and convenience, which is underscored by our decision to steadily add new locations across Greater Boston,” Primeau said.           

Based in Boston, Eastern Bank is the largest independent, mutually owned commercial bank in New England.  With $4.7 billion in assets and 52 branches in Greater Boston, Eastern offers a full range of financial products for consumers, businesses, investors, government agencies and non-profit 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.