Carr Named President, COO at Elmira Savings Bank

ELMIRA, NY--(Marketwired - Apr 23, 2013) - The Board of Directors of Elmira Savings Bank (NASDAQ: ESBK) announce the appointment of Thomas M. Carr to President & Chief Operating Officer. Michael P. Hosey will remain as Chief Executive Officer and Vice Chairman of the Board.

Thomas M. Carr, 44, joined Elmira Savings Bank in June 2000 as Senior Vice President & Chief Financial Officer and over the past eight years has served as the Bank's Executive Vice President and Chief Operating Officer with broad management authority across all business lines and operations. Mr. Carr was elected to the Bank's Board of Directors in January 2012.

Mr. Carr holds an MBA from LeMoyne College and attended the Tuck Business School Executive Development Program at Dartmouth University. He is currently active on the boards at ElmCo LLC, Chemung County Historical Society, Three Rivers Development, Notre Dame High School, Elmira City Club and Elmira Country Club. He and his wife, Joyce, reside in Corning and have a daughter, Abigail, currently a freshman at Elmira College.

"Michael Hosey has positioned Elmira Savings Bank as one of the leading community banks in the region," John Brand, III, Chairman of the Board, commented. "The Board has every confidence that Thomas Carr will continue to carry on the tradition of excellence at the Bank."

Elmira Savings Bank, with $510.9 million in total assets, is insured by the Federal Deposit Insurance Corporation (FDIC) and is a New York State chartered Bank with six offices in Chemung County, NY; three offices and a loan center in Tompkins County, NY; two offices in Steuben County, NY; one office in Cayuga County, NY; one office in Schuyler County, NY; and a loan center in Cortland County, NY.

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve the risks and uncertainties, including the timely availability and acceptance of Bank products, the impact of competitive products and pricing, the management of growth, and other risks detailed from time to time in the Bank's publicly available regulatory reports.