Market Overview

Elmer Bancorp, Inc. Announces Second Quarter 2018 Financial Results


ELMER BANCORP, INC. ("Elmer Bancorp" or the "Company") (OTC:ELMA),
the parent company of The First National Bank of Elmer (the "Bank"),
announces its operating results for the three and six months ended June
30, 2018.

For the three months ended June 30, 2018, Elmer Bancorp reported net
income of $463,000, or $0.41 per common share compared to $390,000, or
$0.34 per common share for the quarter ended June 30, 2017, an increase
of $73,000, or 18.7%. For the six months ended June 30, 2018 net income
totaled $925,000, or $0.81 per common share compared to $698,000, or
$0.61 per common share, an increase of $227,000, or 32.5%.

Net interest income increased $327,000, or 13.2%, and $599,000, or
12.4%, over the second quarter and six months ended June 30, 2017,
respectively. These increases primarily result from a higher level of
loans in 2018. This positive impact for both periods was partially
offset by an increase in operating expenses primarily related to the
Company's growth and an increase in the provision for loan losses of
$44,000 for the six months ended June 30, 2018 to support the increase
in loans outstanding.

Elmer Bancorp's total assets at June 30, 2018 totaled $283.4 million, an
increase of $24.5 million from the June 30, 2017 level of $258.9
million. Total loans increased 11.8%, or $25.6 million, to $242.7
million at June 30, 2018 from $217.1 million at June 30, 2017. Total
deposits were $257.4 million at June 30, 2018 compared to $233.6 million
at June 30, 2017, an increase of $23.8 million, or 10.2%. Stockholders'
equity totaled $24.3 million at June 30, 2018. The Company and the Bank
met all regulatory capital requirements at June 30, 2018.

Brian W. Jones, President and Chief Executive Officer, stated, "We are
proud to report another strong quarter of earnings with very solid
financial metrics. As we celebrate the bank's 115th
anniversary, our six-month growth and income figures reflect our efforts
to gain market share and augment shareholder equity. Our new website has
begun to drive new business to the bank and increase market awareness of
our institution. Our results are very encouraging as we discharge our
strategic plan by broadening and strengthening our management team and
continuing our investment in new technologies."

The First National Bank of Elmer, a nationally chartered bank
headquartered in Elmer, New Jersey, has a long history of serving the
community since its beginnings in 1903. We are a community bank focused
on providing deposit and loan products to retail customers and to small
and mid-sized businesses from our six full service branch offices
located in Cumberland, Gloucester and Salem Counties, New Jersey,
including our main office located at 10 South Main Street in Elmer, New
Jersey. Deposits at The First National Bank of Elmer are insured up to
the legally maximum amount by the Federal Deposit Insurance Corporation

For more information about Elmer Bank and its products and services,
please visit our website at
or call toll free 1-877-358-8141.

Forward-Looking Statements

This press release and other statements made from time to time by the
Company's management contain express and implied statements relating to
our future financial condition, results of operations, credit quality,
corporate objectives, and other financial and business matters, which
are considered forward-looking statements. These forward-looking
statements are necessarily speculative and speak only as of the date
made, and are subject to numerous assumptions, risks and uncertainties,
all of which may change over time. Actual results could differ
materially from those expected or implied by such forward-looking
statements. Risks and uncertainties which could cause our actual results
to differ materially and adversely from such forward-looking statements
include economic conditions affecting the financial industry: changes in
interest rates and shape of the yield curve, credit risk associated with
our lending activities, risks relating to our market area, significant
real estate collateral and the real estate market, operating, legal and
regulatory risk, fiscal and monetary policy, economic, political and
competitive forces affecting our business, our ability to identify and
address cyber-security risks, and management's analysis of these risks
and factors being incorrect, and/or the strategies developed to address
them being unsuccessful. Any statements made that are not historical
facts should be considered forward-looking statements. You should not
place undue reliance on any forward-looking statements. We undertake no
obligation to update forward-looking statements or to make any public
announcement when we consider forward-looking statements to no longer be
accurate, whether as a result of new information of future events,
except as may be required by applicable law or regulation.

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