Full Conversion of Banks Expected on July 23

Bow, NH (April 11, 2007) Shareholders of Bow Mills Bank and Trust voted today to approve its merger with and into Merrimack County Savings Bank. Final regulatory approvals have been received, and the merger will be final by May 1.

Merrimack and Bow Mills branches will continue to operate independently until data processing and branch operations are converted, creating one system. That conversion is expected to take place during the weekend of July 21, and Bow Mills Bank customers will receive detailed information well in advance.

Peter H. Winship, President and CEO of Bow Mills Bank said, “We have approached this process in partnership with one another, and I fully expect the legal merger and systems conversion to follow in the same well-orchestrated manner. This merger will create a larger bank, with more options for customers of both Bow Mills Bank and the Merrimack, without sacrificing the community and customer oriented service they value.”

Ronald A. Wilbur, President and CEO of Merrimack also commented, “I am very pleased that the shareholders of Bow Mills Bank and Trust have voted to approve this merger. The Merrimack and Bow Mills both have strong traditions of commitment to our customers, employees and the communities we serve. By joining together, we create a stronger bank positioned for continued independence in the future.”

The combined bank will operate under the Merrimack County Savings Bank name and will remain a mutual institution, with approximately $539 million in assets and $397 million in deposits. Based on June 30, 2006 data, the combined bank will have the third largest deposit market share in Merrimack County, NH, and will rank fourth among independent banks headquartered in New Hampshire. In addition to three new branches, for a new total of seven banking offices, the Merrimack will add a trust department and an expanded commercial lending team.

Founded in 1867, Merrimack County Savings Bank is the sole subsidiary of Merrimack Bancorp, a New Hampshire chartered mutual holding company with assets over $415 million. It operates three branches and a mortgage center in Concord, NH and one branch in Nashua, NH. The Merrimack provides customers with a full range of retail, commercial banking, and wealth management services.

Founded in 1989, Bow Mills Bank and Trust, a New Hampshire chartered commercial bank with $124 million in assets operates three branches in the greater Concord, NH market. In addition to providing customers with a full range of retail and commercial banking services, Bow Mills Bank operates a trust and investment business with over $55 million of assets under management.