News at JSB

Jefferson Security Bank Announces Record Earnings for the Second Quarter and First Half of 2006 and Increases Dividend

July 14, 2006 - Jefferson Security Bank (OTCBB: JFWV) reported net income of $645,000 for the second quarter ended June 30, 2006, an increase of 8.6% or $51,000 over the net income for the corresponding quarter ended June 30, 2005 of $594,000. Earnings per share were $2.15 for the second quarter of 2006, an increase of 8.6% from $1.98 for the second quarter of 2005.

Net income for the six months ended June 30, 2006 was $1,313,000, or $4.38 per share, which is an increase of $181,000, 16.0%, over the net income of $1,132,000, or $3.77 per share, for the six months ended June 30, 2005. The return on assets was 1.12%, and the return on equity was 15.53% for the six months ended June 30, 2006. In comparison, the second quarter of 2005 generated a return on assets and equity of 1.05% and 14.73% respectively.

Based on these results, the Board of Directors declared a semiannual dividend in the amount of $1.05 per share, payable July 14, 2006 to shareholders of record on June 30, 2006. This dividend represents an increase of $0.15, 16.7%, over the $0.90 per-share dividend paid in July 2005.

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