Elmira Savings Bank Declares Cash Dividend

ELMIRA, N.Y., May 20, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of Elmira Savings Bank ESBK has declared a $0.15 per share cash dividend on their existing common shares outstanding. The cash dividend will be paid on June 12, 2020 to shareholders of record as of June 5, 2020.

Mr. Thomas Carr stated, "We made a difficult decision to reduce our cash dividend for the current quarter due to the uncertainty of the economic recovery." Mr. Carr continued, "We have paid a cash dividend for every quarter since our Initial Public Offering in the 1980's, and we are committed to its continuance."

Elmira Savings Bank, with $638.8 million in total assets, is insured by the Federal Deposit Insurance Corporation (FDIC) and is a state-chartered bank with five offices in Chemung County, NY; three offices 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.

For further information contact:
Thomas M. Carr, President & CEO
Elmira Savings Bank
333 East Water Street
Elmira, New York 14901
(607) 735-8660
E-Mail  tcarr@elmirasavingsbank.com