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Eastern Bank donates $5,000 to the William Samaras Scholarship Foundation

LOWELL, Oct. 26, 2009 – Eastern Bank today announced a $5,000 donation to the William Samaras Scholarship Foundation, which will provide funds for Lowell High School students to attend a four-year college or university.

The newly established scholarship was created in honor of William Samaras, who will retire in June 2010 after nearly 20 years as headmaster at Lowell High School.

“There is no greater investment than the education of children,” said bank President Robert Rivers.  “It’s an honor to support such a great cause in the name of William Samaras, who has been so instrumental in the lives of Lowell High students.”

In 1999, U.S. News & World Report recognized Lowell High as an “outstanding urban high school.”  Enrollment at the school has steadily grown over the last 10 years to nearly 4,000 students, making Lowell High the state’s second-largest public high school.

Samaras, a 1959 Lowell High graduate, recently celebrated his class’ 50th reunion.  It was at that reunion where the idea to launch the scholarship originated, said Samaras’ classmate, Kendall Wallace, who is Chairman of the Board for the Lowell Sun.

“Bill worked tirelessly to produce some incredible and revolutionary kinds of programs at Lowell High,” said Wallace, who serves as chairperson of the scholarship foundation.  “We really appreciate that Eastern Bank stepped up and contributed to our effort.”

About Eastern Bank
Founded in 1818 and based in Boston, Eastern Bank is the largest independent and mutually owned bank in New England, with almost $7.0 billion in assets and more than 80 branches serving communities from the Merrimack Valley to Cape Cod.  Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way.  Eastern Bank includes Eastern Wealth Management, Eastern Insurance and Fantini & Gorga, a real estate advisory firm.

For more information, contact: Andrew Ravens, Public Relations, Eastern Bank, 781-598-8528, or e-mail Andrew Ravens.