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Charter Bank Appoints New CEO

To target the high net worth and privately-owned business customers of Pacific Northwest region

The Charter Bank has appointed James Garvey as its new CEO, effective September 1, 2009, in anticipation of Keith Jackson’s planned retirement in 2010.

Mr. Garvey was hired as president and COO in July 2009. He is likely to guide the bank as it positions itself for growth among high net worth and privately-owned business customers in the Pacific Northwest region.

Former CEO, Mr. Jackson will become chairman of Charter Bank, serving in this position until his scheduled retirement in 2010. Thomas Porter will remain chairman of the board of directors.

Prior to joining Charter, Mr. Garvey served for eight years as president and CEO for Flagship Bank and Trust of Worcester, Massachusetts, which he joined in 1999. Mr. Garvey also served as senior vice president for T.D. Banknorth, formerly known as Safety Fund National Bank. Previously, he held positions at Shawmut Bank and General Electric Capital Corporation.

Mr. Jackson said: Based on the leadership talent and vision he has demonstrated in his time with Charter, we have every confidence in Jim Garvey as he steps into the CEO role. With Jim’s appointment as CEO and the continued backing of our parent company Boston Private Financial Holdings, we are enthusiastic about the future as Charter Bank focuses on serving successful individuals, families and business owners in the economically resilient Pacific Northwest region.