Press Release

Eastern Bank named to Globe 100's Top Places to Work '08

BOSTON, November 10, 2008 - Eastern Bank Corporation has been named one of the Top Places to Work in Massachusetts in a new employee-based survey project from The Boston Globe.

Produced by the same team that compiles the 21-year-old Globe 100 report of the best-performing public companies in Massachusetts, the Top Places to Work recognizes the most progressive companies in the state based on employee opinions about company leadership, compensation and training, diversity/inclusion, career development, family-friendly,flexibility, and values and ethics. The report can be found online at

Eastern ranked 21st among the largest employers in Massachusetts - the only bank to make that list - and was number 77 among all Massachusetts employers. "Large workplaces" was defined as companies with 1,000 or more employees.

"We are honored to be recognized as one of the best places to work in Massachusetts," said Richard E. Holbrook, chairman and CEO of Eastern Bank. "This is a tremendous compliment to our 1,700 employees from our bank and insurance agency,and a fitting example of our vision to be the best bank for our clients, the best organization for our colleagues and the best citizen for our communities."

The publisher of The Boston Globe Steve Ainsley stated, "All the companies included in the Globe 100's Top Places to Work deserve a great deal of recognition. It's clear that they value their employees and make it a priority to create a positive workplace."

Eastern offers its employees a multitude of career growth opportunities, a challenging, yet fun workplace environment and a competitive compensation and benefits package that includes a 401 (k) program, pension plan and education reimbursement.

Nearly 200 years in business, Eastern has earned a reputation in Massachusetts for its commitment to customers and its employees, who work in a variety of departments including Consumer Banking, Marketing, Human Resources, Finance, Operations, Technology and Customer Service.

Eastern, the largest independent, mutually owned commercial banking franchise in New England, offers an array of commercial, business and personal banking services. It also offers commercial insurance products through its subsidiary, Eastern Insurance. Eastern's private banking group, which is part of its wealth management division, is adept at meeting the often-complex borrowing and deposit needs of business owners and individuals alike.

To qualify for the Globe 100's Top Places to Work, a company must have more than 100 employees in Massachusetts. About 600 qualified companies accepted an invitation to participate. Rankings were composite scores calculated purely on the basis of employee responses.

The rankings in the Globe 100's Top Places to Work are based on survey information collected by Workplace Dynamics, an independent company specializing in employee engagement and retention, from 120,000 employees at about 600 Massachusetts organizations.

About Eastern Bank

Founded in 1818 and based in Boston, Eastern Bank is the largest independent, mutually owned commercial banking franchise in New England. With $7.0 billion in assets and almost 90 branches stretching from Merrimack Valley to Cape Cod, Eastern offers superior service, convenience and a full range of financial products for consumers, businesses, investors, government agencies and not-for-profit organizations. Its subsidiaries include Eastern Insurance and Fantini & Gorga, a real estate advisory firm.