Elmira Savings Bank Declares Cash Dividend

ELMIRA, N.Y., Nov. 27 /PRNewswire-FirstCall/ -- 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 December 27, 2009 to shareholders of record December 4, 2009. The Bank also declared a dividend on their preferred shares outstanding.

"We are pleased to be able to continue our current cash dividend of 20 cents per share, which represents a 5% dividend at today's stock price," said Michael P. Hosey, President and CEO.

Elmira Savings Bank, FSB with $506.4 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; and one office in Cayuga 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.

SOURCE Elmira Savings Bank

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