Capital Crossing Bank Launches Relationship Banking Division Headed by Former CEO of United States Trust James V. Sidell.

Business Editors

BOSTON--(BUSINESS WIRE)--April 17, 2000

Capital Crossing Bank (NASDAQ:CAPX) (the "Bank") announced today the launch of its relationship banking division headed by James V. Sidell, former CEO of United States Trust Company.

Under Mr. Sidell's guidance, US Trust pioneered the development of relationship banking--banking which addressed not only the business needs of its commercial customers, but also focused on the specialized personal banking requirements of its entrepreneurial customers. Mr. Sidell was the President and Chief Executive Officer of UST Corp and United States Trust Company for over 20 years. Prior to the recent acquisition of UST Corp. by Citizens Bank, Mr. Sidell was Chairman of UST Corp's Executive Committee and also served as a director of UST's holding company.

In addition to Mr. Sidell, the Bank is assembling a team of senior professionals with extensive experience in cash management and commercial lending to launch its Relationship Banking department, including several former US Trust officers.

Richard Wayne, the Bank's President and Co-Chief Executive Officer, noted, "Today in our market, with all the mergers and institutional consolidation, there is a tremendous need--and opportunity--for banks that can nurture and develop long-term relationships. Customers want an alternative to dealing with large impersonal institutions. We intend to offer our customers a `millennial' twist by creating long-term, solid relationships as well as convenient and constant access to account information by phone, Internet or, most importantly, through their own personal banker. Unlike other banks, technology will add convenience, value, and efficiency for our customers as opposed to creating a barrier between banker and client. We intend to pass these cost savings on to our customers by means of higher rates and lower costs and fees."

"Jack Sidell is the ideal person to spearhead our new initiative in relationship banking," added Nicholas W. Lazares, the Bank's Chairman and Co-Chief Executive Officer. "Jack is one of the most notable pioneers in Boston's relationship banking business. His track record over the years in building and maintaining profitable banking relationships with entrepreneurs shows that he truly understands how to anticipate and respond creatively to the banking needs of small, medium-sized, and family owned businesses and the individuals that run them."

Capital Crossing Bank is a Massachusetts-chartered, FDIC-insured trust company that operates as a commercial bank. The Bank conducts business from its executive and main offices in Boston, a branch in Chestnut Hill, Massachusetts, its website at www.capitalcrossing.com and through its leasing subsidiary, Dolphin Capital Corp., located in Moberly, Missouri.

This news release contains forward-looking statements regarding future events or financial performance. These statements are only predictions and actual events or results may differ materially. Factors which could cause such differences include material announcements by the Bank or its competitors, the Bank's ability to successfully acquire loans at the same volume and the same yields as it has historically, the Bank's ability to successfully diversify its asset base and acquire or develop a loan origination platform, the level of the Bank's non-performing assets, changes in interest rates that adversely affect its business, conditions in the emerging online banking industry, the continued growth and viability of the Internet, as well as those other factors described in the Management's Discussion and Analysis section of the Bank's most recent Annual Report on Form 10-K.