Mt. Washington Bank and Roxbury Highland Bank of Jamaica Plain
announce plans to merge

South Boston, MA & Jamaica Plain MA (January 3rd, 2008) - - Mt. Washington Bank and Roxbury Highland Bank of Jamaica Plain today announced that the boards of directors of the two institutions have reached an agreement to merge under the Mt. Washington Bank Charter.
"We are excited about the combination of the two banks," said Edward J. Merritt, President and Chief Executive Officer of Mt. Washington Bank, "and we are thrilled to welcome the Roxbury Highland customers to the Mt. Washington Bank family. We look forward to serving them for many years to come."

Upon completion of the merger, which is subject to approval by bank regulatory authorities and the depositors of both banks, Mt. Washington Bank will have six branches with three in South Boston, two in Dorchester, one in Jamaica Plain, and a Loan Office in South Boston. The merged bank will have over $525 million in assets. Mt Washington Bank’s primary interest in this partnership is the opportunity to serve the Jamaica Plain market as it strives to fulfill its mission to become “Boston’s Community Bank”. Mt Washington Bank plans to retain all of the employees of Roxbury Highland Bank.

Merritt, who will continue to serve as President & CEO upon completion of the merger, believes that existing customers of Roxbury Highland Bank will benefit most from the merger. "Mt. Washington Bank can offer all the same products and services as its larger competitors while providing the personal and friendly service customers deserve from their bank.” In addition, the residents and businesses of Jamaica Plain will benefit from having a neighbor who understands the importance of being a great corporate citizen and active in the community.

"We are very pleased that this partnership will allow us to fulfill our strategic goals as a financial institution," commented Wayne Gove, President of The Roxbury Highland Bank. Director Juan Lopez added "Mt. Washington Bank was the best choice for us as both organizations share common visions, including a strong commitment to our communities. The Directors of The Roxbury Highland Bank are very excited and are unanimously in favor of this merger opportunity”.

Both institutions have always focused on providing personal and friendly service to their customers as well as being outstanding corporate citizens, and it will be Mt. Washington Bank’s top priority to ensure that this continues.

About Mt. Washington Bank
Since 1893, Mt. Washington Bank has been serving the South Boston and Dorchester communities. In addition to offering a full range of products and services for consumers and businesses, Mt. Washington Bank also prides itself on providing excellent service to their customers. Mt. Washington Bank currently has five banking offices (three in South Boston and two in Dorchester) and a loan office in South Boston.

About The Roxbury Highland Bank of Jamaica Plain
The Roxbury Highland Bank of Jamaica Plain was established in 1889 with the mission to meet the financial needs to the residents and businesses in its communities. The Roxbury Highland Bank of Jamaica Plain has one office in Jamaica Plain.

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