Elmira Savings Bank Declares Cash Dividend

ELMIRA, NY--(Marketwire - May 25, 2011) - The Board of Directors of The Elmira Savings Bank, FSB (NASDAQ: ESBK) has declared a $0.20 per share cash dividend on their common shares outstanding. The cash dividend will be paid on June 29, 2011 to shareholders of record June 14, 2011. The Bank also declared a dividend on their preferred shares outstanding.

Elmira Savings Bank, FSB with $494.3 million in total assets, is insured by the Federal Deposit Insurance Corporation (FDIC) and is a federally chartered Bank with five 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 office in Schuyler County; 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.