[May 14, 2019]

Cambridge Bancorp Announces Three New Members to Board of Directors

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 (News - Alert) 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 Busness, 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 Journal's 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 statements.

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