Eastern Bank plans to expand its presence throughout the Merrimack Valley, opening the city of Lawrence’s first new retail banking office in 23 years.

Located at 486 Essex St., the new branch will open next month. It will mark Eastern Bank’s 96th location.

"Eastern Bank is proud to be the first bank since 1988 to open a new branch in Lawrence and we look forward to helping the city’s residents and businesses prosper," said Richard E. Holbrook, Eastern Bank’s chairman and CEO. "Eastern Bank is new to Lawrence, but not Massachusetts. For nearly two centuries, we’ve helped people and businesses reach their goals, earning a reputation as a bank that cares about its customers, communities and employees."

Four people will work full-time in the new office, which will be open weekdays and Saturdays. In addition, other employees from the bank’s commercial lending, wealth management and mortgage banking groups will occasionally work inside the 2,800-square-foot office.

With the new location, Eastern Bank hopes to build upon several recent accolades it has earned that underscore its commitment to customers and the community.