Mr. Gavegnano: The holding company is Meridian Financial Services, Inc., and Meridian Interstate Bancorp is the parent holding company for East Boston Savings Bank. The first East Boston Savings Bank branch was established in 1848, in East Boston, in Suffolk County. As the demographics changed in East Boston and with each generation becoming more educated and more successful, they migrated north to the suburbs. Basically we followed the trail of the generations and money flow. That is how we ended up with 13 branches, three of which are still in East Boston, where we control 75% of the market, and the rest are in the suburbs north of Boston. We decided to do a public offering and sell 45% of the bank to raise additional capital. This was done in January of 2008. We raised an additional $100 million and doubled our capital. We deployed the capital with a very conservative and disciplined plan. In January of 2010, we were able to acquire a seven-branch mutual bank in Suffolk County by the name of Mt. Washington, which had $500 million in assets. It was the first time in Massachusetts that a MHC structure acquired a mutual bank. Because Mt. Washington is a 116-year-old institution with strong, deep roots in South Boston, we kept the name of Mt. Washington and are operating it as a division of East Boston Savings Bank. With the acquisition of Mt. Washington, we have a total of almost $1.8 billion in assets under Meridian Interstate Bancorp. In 2006 East Boston Savings Bank also started a de novo bank in New Hampshire, Hampshire First Bank, which is under Meridian Interstate Bancorp, Inc. So we have an affiliate with about $200 million in assets, in which we own 40% of Hampshire First Bank. Our division at Mt. Washington Bank and our affiliation with Hampshire First Bank provide us with more business opportunities in lending and retail banking, creating cross relationships for additional growth. My positions are Chairman and CEO of Meridian Interstate Bank, Chairman and CEO of East Boston Savings Bank, and I am also the Chairman of Hampshire First Bank.
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