Boston Private Financial Holdings, Inc. Announces Pricing of Public Offering of Depositary Shares Representing Interests in

  Boston Private Financial Holdings, Inc. Announces Pricing of Public Offering
  of Depositary Shares Representing Interests in Preferred Stock

Business Wire

BOSTON -- April 17, 2013

Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (the “Company” or
“BPFH”) today announced the pricing of a public offering of 2,000,000
depositary shares ($50 million of aggregate public offering price), each
representing a 1/40^th interest in a share of its 6.95% Non-Cumulative
Perpetual Preferred Stock, Series D, par value $1.00 per share, with a
liquidation amount of $1,000 per share (equivalent to $25 per depositary
share) (the “Series D Preferred Stock”).

Dividends will accrue and be payable quarterly in arrears on the liquidation
amount of $1,000 per share of Series D Preferred Stock at a rate of 6.95% per
annum, from and including the date of original issuance, only when, as, and if
declared by the board of directors of BPFH (or a duly authorized committee of
the board) and to the extent BPFH has legally available funds to pay
dividends. The offering is expected to close on or about April 24, 2013,
subject to customary closing conditions.

BPFH expects to use the net proceeds of this offering to repurchase all of the
outstanding shares of its Series B Non-Cumulative Perpetual Contingent
Convertible Preferred Stock held by an investment fund managed by The Carlyle
Group under a share repurchase agreement BPFH announced on April 16, 2013.

Goldman, Sachs & Co. and Keefe, Bruyette & Woods, Inc. are serving as joint
book-running managers. Jefferies & Company, Inc. is serving as lead manager.

This press release shall not constitute an offer to sell or the solicitation
of any offer to buy any security, nor shall there be any offer or sale of
these securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.

This offering will be made only by means of a prospectus supplement and
accompanying base prospectus. BPFH has filed a registration statement
(including a base prospectus) and a preliminary prospectus supplement with the
U.S. Securities and Exchange Commission for the offering which this
communication relates, and will file a final prospectus supplement related to
the offering. Copies of the final prospectus supplement and the accompanying
base prospectus for the offering, when available, may be obtained from
Goldman, Sachs & Co. at Prospectus Department, 200 West Street, New York, New
York 10282 or by telephone: 1-866-471-2526 or by facsimile: 212-902-9316 or by
emailing, or from Keefe, Bruyette & Woods, Inc.,
at 787 Seventh Avenue, 4th Floor, New York, New York 10019 (Attention: Capital
Markets) or by telephone: (800) 966-1559.

Boston Private Financial Holdings

Boston Private Financial Holdings, Inc. is a national financial services
organization with Wealth Management and Private Banking affiliates in Boston,
New York, Los Angeles, San Francisco and Seattle. The Company has a $6 billion
Private Banking balance sheet, and manages $20 billion of client assets.

The Company positions its affiliates to serve the high net worth marketplace
with high quality products and services of unique appeal to private clients.
The Company also provides strategic oversight and access to resources, both
financial and intellectual, to support affiliate management, marketing,
compliance and legal activities. (NASDAQ: BPFH)

Forward-Looking Statements

Certain statements in this press release that are not historical facts are
forward-looking statements within the meaning of Section27A of the Securities
Act of 1933, as amended, and Section21E of the Securities Exchange Act of
1934, as amended, and are intended to be covered by the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve risks and uncertainties. These statements include, among
others, statements regarding our strategy, the effectiveness of our investment
programs, evaluations of future interest rate trends and liquidity,
expectations as to growth in assets, deposits and results of operations,
receipt of regulatory approval for pending acquisitions, success of
acquisitions, future operations, market position, financial position, and
prospects, plans and objectives of management. You should not place undue
reliance on our forward-looking statements. You should exercise caution in
interpreting and relying on forward-looking statements because they are
subject to significant risks, uncertainties and other factors which are, in
some cases, beyond the Company’s control. Forward-looking statements are based
on the current assumptions and beliefs of management and are only expectations
of future results. The Company’s actual results could differ materially from
those projected in the forward-looking statements as a result of, among other
factors, changes in assumptions or unanticipated factors adversely affecting
the timing, among other matters, of expenses or cost savings relating to or
resulting from the consolidation of the Company’s banking subsidiaries;
adverse conditions in the capital and debt markets and the impact of such
conditions on the Company’s private banking, investment management and wealth
advisory activities; changes in interest rates; competitive pressures from
other financial institutions; the effects of a continuing deterioration in
general economic conditions on a national basis or in the local markets in
which the Company operates, including changes that adversely affect borrowers’
ability to service and repay our loans; changes in loan defaults and
charge-off rates; changes in the value of securities in the Company’s
investment portfolio, changes in loan default and charge-off rates, the
adequacy of loan loss reserves, decreases in deposit levels necessitating
increased borrowing to fund loans and investments; changes in government
regulation; the risk that goodwill and intangibles recorded in the Company’s
financial statements will become impaired; the risk that the Company’s
deferred tax asset may not be realized; risks related to the identification
and implementation of acquisitions; changes in assumptions used in making such
forward-looking statements; and the other risks and uncertainties detailed in
the Company’s Annual Report on Form 10-K and updated by the Company’s
Quarterly Reports on Form 10-Q; and other filings submitted to the Securities
and Exchange Commission. The Company does not undertake any obligation to
update any forward-looking statement to reflect circumstances or events that
occur after the date the forward-looking statements are made.


Boston Private Financial Holdings, Inc.
Jeanne Hess, 617-912-3798
Vice President, Investor Relations
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