Elmira Savings Bank Declares Cash Dividend

ELMIRA, NY--(Marketwired - Nov 16, 2016) - The Board of Directors of Elmira Savings Bank (NASDAQ: ESBK) has declared a $0.23 per share cash dividend on their existing common shares outstanding. The cash dividend will be paid on December 16, 2016 to shareholders of record December 8, 2016. The Bank also declared a dividend on their preferred shares outstanding.

"We are pleased to continue to provide our shareholders with a cash dividend equating to one of the highest dividend yields for publicly traded banks," said Thomas M. Carr, President and Chief Executive Officer.

Elmira Savings Bank, with $572.0 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; 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.