Welcome to East Boston Savings Bank
Since 1848 East Boston Savings Bank has continually endeavored to uphold the principles and ideals its founders set forth. As a major employer, and an integral part of our community, we remain dedicated to fostering growth and prosperity in the communities we serve.

East Boston Savings Bank will continue to grow by providing exceptional financial services and by treating our customers as individuals. Fulfilling this commitment to quality service means taking the extra time to understand our customers' financial needs and providing them with the right financial solutions. As new technological advancements within our industry are developed, EBSB will continue to provide our customers with the most up-to-date and convenient delivery systems available.

A Brief History of East Boston Savings Bank
East Boston Savings Bank held its first meeting of incorporation on October 4, 1848, 218 years after the Puritans first sailed into Boston Harbor. During that period before the Bank began, the area called Noddle's Island had grown from pastures and woodland into a center of commerce highlighted by shipbuilding, carpentry, sugar refining and iron foundries. Those early merchants and world-famous shipbuilders were the leaders in the formation of East Boston Savings Bank.

On January 17, 1849, the first official business day of the Bank, 57 people deposited $2,999.00 at the Bank's Maverick Square Office. The next day, the Bank's Board of Investment voted to purchase 15 shares of stock in the Merchant's Bank of Boston and so began over 15 decades of growth, prosperity, and prudent asset management for the merchants and residents of East Boston.

The modern history of East Boston is a story of immigrant waves. People from Ireland, Italy, Jewish peoples, South and Central Americans and Southeast Asians have made the neighborhood their home, thereby making this community as vibrant and interesting as any in Boston.

East Boston Savings Bank is proud to have had the privilege of helping in the development of the Noddle's Island community into a vital, successful part of the city and culture of Boston. Today our growing and robust Bank continues to play a leading role.

Just as the families of East Boston have expanded out to the surrounding communities, the Bank has reached out to serve them. We now have three branch locations in East Boston, as well as branches in Everett, Lynn, Melrose, Peabody, Revere, Saugus, and Winthrop. These facilities, along with our loan center in Lynnfield, several "off site" ATMs, and our Internet banking service, help East Boston Savings Bank provide a full range of banking services to a wide region of neighborhoods and business centers.

On September 1, 1991 East Boston Savings Bank became a stock savings bank and a wholly owned subsidiary of Meridian Mutual Holding Company, now known as Meridian Financial Services.

East Boston Savings Bank Community Relations Report
Our CRA (Community Reinvestment Act) assessment area includes East Boston, Everett, Lynn, Lynnfield, Melrose, Peabody, Revere, Saugus, and Winthrop. This geographic area reflects our growth and increased lending activity in North Shore cities and towns. Although we also lend outside our CRA area, our commitment to our core communities remains steadfast.

The area encompasses many diverse neighborhoods, small businesses, a busy commercial waterfront, some light industrial plants, Logan Airport, Route 1 and its surrounding suburban areas. It is a culturally rich area that is home to people of all income levels.

In addition to meeting the financial needs of individuals and businesses, the Bank is acutely aware of its civic and social responsibilities and contributes in a balanced approach to help people grow and prosper physically, emotionally and financially.

Through monetary donations we support the activities of a wide variety of organizations in the area. In addition, many employees devote their personal time and energy to groups and clubs that improve the standard of living in our communities. Their involvement assists us in ascertaining our communities' needs and helps us to contribute not only financially, but also with our time and experience.

East Boston Savings Bank does not discriminate against any loan applicant on the basis of race, color, religion, national origin, sex, marital status, familial status, handicap or age (provided the applicant has the capacity to enter into a binding contract). Nor do we discriminate because all or part of an applicant's income comes from any public assistance program or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.

Both FDIC and the Massachusetts Division of Banks regulators gave an overall CRA rating of "Outstanding" to our institution. Copies of the public disclosures from the FDIC and Division of Banking dated November 2005 are available at all banking offices.

I encourage you to let us know how we can help. Please contact Philip F. Freehan, Executive Vice President and CRA Officer, or any Bank Officer with your suggestions and comments.

Sincerely,

Robert F. Verdonck
President and CEO
rverdonck@ebsb.com