EAST BOSTON, Mass., April 22, 2003 – Eastern Bank, a full-service commercial bank based in Boston, held the grand opening today of its new branch inside Shaw’s Supermarket at 246 Border Street in East Boston.

Boston City Councillor Paul Scapicchio cut the ribbon during a ceremony featuring several bank executives, including Chairman and CEO Stanley J. Lukowski and President Richard E. Holbrook.

“I’d like to welcome Eastern to East Boston,” Scapicchio said. “East Boston’s residents will benefit from the seven-day-a-week banking services that will be offered by Eastern’s first East Boston branch.”

With East Boston, Eastern now has nine offices that are open seven days a week. East Boston will be open weekdays from 10 a.m. to 7 p.m., Saturdays from 11 a.m. to 6 p.m. and Sundays from 11 a.m. to 3 p.m. Wilma Birkett-Davis, a resident of East Boston who has 16 years of banking experience in the community, will manage the branch.

“We’re pleased to join the East Boston community and look forward to the opportunity to serve its residents with this new office,” Lukowski said. “We’re particularly pleased to offer free checking to our customers, which we believe will be popular because so few of our competitors in East Boston offer this service.”

Since Eastern began offering free checking in June 2000, more than 30,000 customers have opened one of these accounts. Free checking’s benefits include no monthly minimum balance requirement, no monthly service charge, free unlimited check writing and a free Visa Check Card. The first order of checks is also free.

Everyone who opens a free checking account in East Boston will receive a free tote bag (while supplies last). In addition, all visitors to the branch can enter a drawing to win up to $500 in groceries through the “Shaw’s Gift Card” Sweepstakes.

Founded in 1818, Eastern Bank is New England’s largest mutually-owned independent commercial bank, with $4.4 billion in assets, $3 billion in commercial and consumer loans and 48 branches in Greater Boston. Eastern has a full line of consumer, commercial and investment banking products.