Depositors at both Roxbury Highland Bank of Jamaica Plain and Mt. Washington Bank Cast Favorable Votes to Formalize Merger

South Boston, MA & Jamaica Plain MA (February, 2008) - -At separate meetings, depositors at Roxbury Highland Bank (February 7) and Mt. Washington Bank (February 12) cast overwhelmingly favorable votes to merge both financial institutions. As two well established mutually-owned, community banking institutions, the merger was first announced by the respective Board of Directors of each bank in January 2008. Mt. Washington Bank has committed to retain the employees of Roxbury Highland Bank, along with continuing the bank’s legacy of good corporate citizenship and exemplary customer service. “We are thrilled with the depositors response to the merger, which brings us one step closer to making the merger between two very similar organizations a reality,” said Edward J. Merritt, President and CEO of Mt. Washington Bank.

The merger is still subject to federal and state banking regulators approval, which, according to banking officials at Mt. Washington Bank, is expected in May. In its mission to become Boston’s Community Bank, Mt. Washington Bank currently has five branches, three in South Boston and two in Dorchester. Merging with Roxbury Highland Bank will bring Mt. Washington Bank’s total assets to over $525 million and a presence in the Jamaica Plain community.

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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