Elmira Savings Bank Announces Retirement

ELMIRA, NY--(Marketwire - Apr 26, 2012) - Elmira Savings Bank (NASDAQ: ESBK) announced that the Chairman of its Board of Directors, George L. Howell, has retired from the Board upon reaching mandatory retirement age as directed by the Bank's bylaws. Mr. Howell served 20 years on the Bank's Board of Directors, the last 11 as Chairman. Mr. Howell will continue to serve on the Board as Chairman Emeritus.

The Board elected John Brand III as Chairman to secede Mr. Howell. Mr. Brand has served on the Board since 1985 and has been Vice Chairman of the Board since 2001 and Chairman of the Audit Committee since 2001. Michael P. Hosey, President and CEO, was elected Vice Chairman.

"We appreciate the contributions Mr. Howell has made to the organization during his tenure as Chairman of the Board of Directors and look forward to continuing our success under the stewardship of Mr. Brand," said Michael P. Hosey, President and Chief Executive Officer.

Elmira Savings Bank, with $519.6 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; one office in Steuben County, NY; one office in Cayuga County, NY; one cashless 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 regulatory reports.