State Investors Bancorp May Buy Back Up to 5% of Shares

State Investors Bancorp, Inc. (the "Company")

, the holding company of State-Investors Bank, today announced that its Board of Directors approved the Company's first stock repurchase program following State-Investors Bank's mutual to stock conversion completed on July 6, 2011. The repurchase program provides for the repurchase of up to 5% of the Company's outstanding shares, or 145,475 shares of common stock. The shares may be purchased in the open market or in privately negotiated transactions from time to time depending upon market conditions and other factors. The repurchase program will commence no earlier than two business days after the release of earnings for the June 30, 2012 quarter and does not have an expiration date. Previously on January 24, 2012, the Company announced that in order to fund the 2012 Recognition and Retention Plan, the related trust may purchase up to 116,380 shares of the Company's common stock in the open market or from private sources. As of the date hereof, the Company has purchased 18,850 shares for the Recognition and Retention Plan Trust.