Eastern Bank Corporation, Boston, Massachusetts - approval to acquire MASSBANK, Reading, Massachusetts

Eastern Bank Corporation (Petitioner), Boston, Massachusetts, has petitioned the Board of Bank Incorporation (Board) pursuant to Massachusetts General Laws, chapter 167A, sections 2 and 4 for approval to acquire MASSBANK Corp., and its subsidiary bank, MASSBANK, Reading, Massachusetts. The Petitioner is the mutual holding company for Eastern Bank, Boston, Massachusetts. A related application has been filed with the Division of Banks (Division) for approval of a subsequent merger of MASSBANK with and into Eastern Bank. As a consequence of the merger, the banking offices of MASSBANK will become branch offices of Eastern Bank.

In determining whether or not to approve the petition the Board must decide, among other things, whether competition among banking institutions will be unreasonably affected and whether public convenience and advantage will be promoted by this proposal. A public hearing will be given to all interested parties on the petition before the Board on Thursday, June 26, 2008 at 11:30 a.m., in Hearing Room A, Fifth Floor, One South Station, Boston, Massachusetts. Any interested party other than the Petitioner should file communications, including briefs in favor of or protest, with the Board at One South Station, Boston, Massachusetts 02110.

All comments concerning this petition, however, must be filed with the Board or Division by July 21, 2008. The application and all communications relative to this matter are available for inspection at the Division of Banks at the above address.

Board of Bank
Incorporation

Steven L. Antonakes
______________________
Commissioner of Banks


Navjeet Bal
______________________
Commissioner of Revenue


Timothy P. Cahill
______________________
Treasurer and Receiver-General