Elmira Savings Bank Purchases New Branch Location

ELMIRA, NY--(Marketwire - Aug 8, 2012) - Elmira Savings Bank (NASDAQ: ESBK) announced today that it has purchased real estate located at 2081 Lake Road, Elmira Heights, NY, and has received approval from the New York State Division of Financial Services to open a full-service branch on August 27, 2012.

"We are pleased to open this branch in Elmira Heights to provide added convenience for our Horseheads and Elmira customers. We also look forward to developing new relationships and to expanding our existing relationships in Elmira Heights," said Thomas M. Carr, Executive Vice President and Chief Operating Officer.

Elmira Savings Bank, with $526.8 million in total assets, is insured by the Federal Deposit Insurance Corporation (FDIC) and is a New York State 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, 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.