Cambridge Bancorp Announces Three New Members to Board of Directors

CAMBRIDGE, Mass.–(BUSINESS WIRE)–lt;a href=”” target=”_blank”gt;#CATClt;/agt;–Cambridge Bancorp (NASDAQ: CATC) and its subsidiary, Cambridge Trust
Company, announces three new members to its Board of Directors. Joining
the board are Thalia Meehan, Daniel Morrison and Jody Rose. “The
strength of our company is reflected in the experience and caliber of
the directors joining our board,” noted Denis K. Sheahan, CEO of
Cambridge Bancorp and Cambridge Trust Company. “We look forward to
benefiting from their experience and deep knowledge as we pursue our
growth strategy.”

About Thalia Meehan

Thalia Meehan joins Cambridge Trust’s Board of Directors after spending
more than 25 years in the financial services industry. Before her
retirement from Putnam Investments in 2016, Ms. Meehan served as a
portfolio manager and group head of the Tax Exempt Team, which oversaw
$7.5 billion of mutual fund assets. She also held positions as Head of
Tax Exempt Credit Research and as a senior credit analyst. Ms. Meehan
began her career at the Bank of New England and the Colonial Group. She
is an active member of many professional organizations including the
Society of Municipal Analysts, the Boston Club, and Boston Women in
Public Finance. Ms. Meehan is currently an independent director of
Safety Insurance Group and is on the board of advisors for the
Huntington Theatre Company. She graduated from Williams College with a
Bachelor of Arts in Mathematics and is a CFA Charterholder.

About Daniel Morrison

Daniel Morrison brings decades of experience in banking, finance and
business management. He served as Chairman, President and CEO of Optima
Bank & Trust, a bank he co-founded in 2008. On April 17, 2019, Cambridge
Bancorp completed the merger of Cambridge Trust and Optima Bank & Trust.
Mr. Morrison is the CEO of Cambridge Trust New Hampshire and a member of
Cambridge Trust’s management team. Prior to co-founding Optima Bank &
Trust, Mr. Morrison held positions with First Signature Bank & Trust in
Portsmouth, NH, Golden West Financial Corporation in Oakland, CA and
Bank of America in San Francisco, CA. He is the immediate past chairman,
and continues to serve on the board of the New Hampshire Bankers
Association. Mr. Morrison is Vice-Treasurer and a member of the board of
trustees of York Hospital. He has served in a variety of board positions
for organizations that include the New Hampshire Veterans Count, UNH
Center for Family and Business, UNH CEO Forum, and the Great Bay Chapter
of the American Red Cross. He holds a Bachelor of Science Degree in
Business Administration from San Francisco State University.

About Jody Rose

Jody Rose has held numerous executive-level roles within enterprise
corporations and lean start-ups, focusing on corporate development in
mobile, eCommerce and digital media. She currently serves as the
president of the New England Venture Capital Association, whose focus is
on positioning New England as the best region in the world for
entrepreneurs and investors. Her past experience includes
executive-level positions with Blueprint NYC, Swirl Networks and Rue La
La. Ms. Rose began her career in cable and telecommunications where she
held multiple sales and marketing positions with powerhouses such as
MTV, The Food Network and HGTV. Currently, Rose serves on the boards of
My Sister’s Keeper and MassChallenge. She is also a member of The Boston
Foundation’s Innovation Economy Leadership Council and the Massachusetts
Women’s Forum. Her numerous awards include the Boston Business
BBJ’s Power 50: The Game Changers, uAspire’s First One
award and, in 2018, was recognized by Boston Magazine as
one of the most influential people in Boston. Ms. Rose has received an
honorary Doctorate of Business Administration from Mt. Ida College and
is a graduate of the State University of NY College with a Bachelor of
Arts Degree in Marketing.

About Cambridge Bancorp

Cambridge Bancorp, the parent company of Cambridge Trust Company, is
based in Cambridge, Massachusetts. Cambridge Trust Company is a
128-year-old Massachusetts chartered commercial bank with approximately
$2.1 billion in assets and 10 Massachusetts locations in Cambridge,
Boston, Belmont, Concord, Lexington and Weston. Cambridge Trust Company
is one of New England’s leaders in private banking and wealth management
with $3.1 billion in client assets under management and administration.
The Wealth Management group maintains offices in Boston, Massachusetts
and Concord, Manchester, and Portsmouth, New Hampshire. The addition of
Optima’s six banking offices will bring our total full-service banking
office count to 16, and will allow us to offer comprehensive private
banking and wealth management services in New Hampshire.

Forward-looking Statements

Certain statements herein may constitute “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements about the Company and its industry involve
substantial risks and uncertainties. Statements other than statements of
current or historical fact, including statements regarding the Company’s
future financial condition, results of operations, business plans,
liquidity, cash flows, projected costs, and the impact of any laws or
regulations applicable to the Company, are forward-looking statements.
Words such as “anticipates,” “believes,” “estimates,” “expects,”
“forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should,”
and other similar expressions are intended to identify these
forward-looking statements. Such statements are subject to factors that
could cause actual results to differ materially from anticipated
results. Such factors include, but are not limited to, the following:
difficulties in achieving cost savings from the proposed merger or
achieving such cost savings within the expected time frame, difficulties
in integrating Optima Bank & Trust Company and Cambridge Trust Company,
economic conditions being less favorable than expected, disruptions to
the credit and financial markets, weakness in the real estate market,
legislative, regulatory or accounting changes that adversely affect the
Company’s business and/or competitive position, and other factors that
are described in the Company’s filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the year end
December 31, 2018, which the Company filed on March 18, 2019. The
Company does not undertake, and specifically disclaims any obligation,
to publicly release the result of any revisions which may be made to any
forward-looking statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such statements.
You are cautioned not to place undue reliance on these forward-looking


Michael Carotenuto

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