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Wednesday, November 23, 2011

Elmira, New York, November 23, 2011 -- The Board of Directors of The Elmira Savings Bank, FSB (NASDAQ:ESBK) has declared a $0.22 per share cash dividend on their existing common shares outstanding and a 10% stock dividend on their existing common shares outstanding.  The cash dividend will be paid on December 28, 2011 to shareholders of record December 9, 2011.  The Bank also declared a dividend on their preferred shares outstanding.

“We are pleased to be able to increase our cash dividend, as well as reinstitute a stock dividend to reward our many loyal shareholders,” said Michael P. Hosey, President and Chief Executive Officer.

Elmira Savings Bank, FSB with $512.7 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.

For further information contact:
Thomas M. Carr, EVP & COO
Elmira Savings Bank, FSB
333 East Water Street
Elmira, New York  14901
(607) 735-8660



Elmira Savings Bank • 333 E. Water St., Elmira, NY 14901 • Phone: (607) 734-3374 • (888) 372-9299 •       

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