– New Newton-based bank surpasses more than 1,000 FDIC-insured banks nationally in its first quarter of operations –

Newton, Massachusetts – October 20, 2009 – First Commons Bank, N.A. reported that its assets have grown to more than $42 million during its first quarter of operations ending September 30, 2009. The bank started operating on July 22, 2009 and serves businesses and individuals in Newton, Wellesley, Waltham, and metropolitan Boston.

“First Commons Bank’s extraordinary asset growth makes it one of the most successful new banks in the nation,” said Tony Nuzzo, Chairman, President & CEO. “With over 8,000 FDIC-insured banks in the US filing mid-year reports, our assets have surpassed more than 1,000 banks after just 10 weeks of operation.”

“Our strong performance demonstrates that the community is embracing the bank and its focus on high quality personal service delivered by proven, experienced professionals, in an environment that encourages relationships and consultation,” said Nuzzo. “Our clients enjoy immediate access to the bank’s CEO and senior officers, a key benefit for the small business owners and individuals who comprise our target market.”

Nuzzo said these results also validate the bank’s unique business model and vision: “Despite opening in the midst of economic uncertainty and one of the deepest recessions in banking history, our over 300 investors, most of them local, have provided a solid foundation for growth and profitability which is supplemented by strong community interest and participation.”

About First Commons Bank

First Commons Bank, a nationally-chartered, FDIC-insured, full-service, community bank, is dedicated to serving the banking needs of small to mid-size businesses and individuals in Newton, Wellesley, Waltham, and metropolitan Boston. First Commons Bank combines the industry’s most advanced technology with a highly experienced, onsite, management team to provide clients with superior, personalized service and the highest quality banking experience. It offers a comprehensive portfolio of retail and business banking services, including checking and savings accounts, online banking, ATM/debit cards, money market accounts, certificates of deposit, home equity loans, residential and commercial mortgages, consumer and business loans, and cash management services. First Commons Bank (www.firstcommonsbank.com) is headquartered at 718 Beacon Street in Newton, Massachusetts.

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Public Relations contact, Boston: Tiziani Whitmyre Inc., http://www.tizinc.com/public-relations

Tags: bank, Boston, first commons bank, Newton, personal banking, tony nuzzo