Elmira Savings Bank Repays SBLF Capital

ELMIRA, NY--(Marketwired - Jan 6, 2014) - Elmira Savings Bank (NASDAQ: ESBK) announced today that it repaid $3.5 million of its outstanding preferred shares that had been issued to the United States Treasury Department through the Small Business Lending Fund.

"We are pleased to redeem these outstanding preferred shares, exiting the SBLF program, and reducing our dividend payments to preferred shareholders," said Thomas M. Carr, President and Chief Operating Officer.

Elmira Savings Bank, with $514.3 million in total assets, is insured by the Federal Deposit Insurance Corporation (FDIC) and is a 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; a loan center in Cortland County, NY; and a loan center in Broome 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.