Elmira Savings Bank, FSB (Nasdaq: ESBK) today announced net income for the six months ended June 30, 2006 totaling $1,311,000 or $.98 per diluted share, a two percent increase over the $1,289,000 or $.97 per diluted share reported for the same period in 2005.

Net income for the three months ended June 30, 2006 totaled $673,000 or $.50 per diluted share, equal to the same period in 2005.

Total assets increased by $6.6 million from June 30, 2005 to $338.4 million at June 30, 2006. Total loans increased by $13.0 million to $214.1 million on June 30, 2006. The growth in loans was focused on mortgage loans which increased by $9.4 million and consumer loans which increased by $5.8 million.

"We are pleased to report another solid quarter of financial performance," said Michael P. Hosey, Chief Executive Officer and President of Elmira Savings Bank. Hosey continued, "During the third quarter, we look forward to expanding our branch network into Corning, NY, and to providing added convenience to our many customers who reside in that market. This will represent our first full branch expansion in fifteen years and is demonstration of our commitment to local businesses and families."

Elmira Savings Bank, FSB with $338 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, New York, one office in Tioga County, Pennsylvania, and a loan center in Tompkins 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 regulatory reports.

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