ELMER BANCORP, INC. ANNOUNCES SPECIAL CASH DIVIDEND

ELMER, NEW JERSEY – February 15, 2023 – ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTC Pink: ELMA), parent company of The First National Bank of Elmer (the “Bank”), announced that the Board of Directors declared a special one-time cash dividend on February 15, 2023 in the amount of $0.12 per common share, payable on March 1, 2023 to shareholders of record as of the close of business on December 31, 2022.

Brian W. Jones, President and CEO of the Company stated, “In 2023, the Bank is celebrating 120 years of serving our clients and neighbors and we wish to thank our loyal customer base, shareholders and our dedicated employees.  In recognition of the outstanding performance that was achieved in 2022, the Board of Directors has declared a special one-time dividend to reward our shareholders.  We are happy to be able to declare this special dividend and look forward to another year of being the community bank of choice in Southern Jersey.”

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 legal maximum amount by the Federal Deposit Insurance Corporation (FDIC).

Cynthia L. Volk

Senior Vice President

Financial Officer

856-358-7000