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Jefferson Security Bank Announces Earnings for the First Quarter of 2008

April 15, 2008 - Jefferson Security Bank Post Office Box 35, 105 East Washington Street, Shepherdstown, West Virginia 25443 (304) 876-9000 FOR IMMEDIATE RELEASE Contact: K. Stephen Morris, President and CEO April 15, 2008 304-876-9025 Jefferson Security Bank Announces Earnings for the First Quarter of 2008 Shepherdstown, West Virginia; April 15, 2008

President and CEO of Jefferson Security Bank (OTCBB: JFWV), K. Stephen Morris, announced the results of operations for the first quarter of 2008 and commented, “First quarter 2008 net income of $634,455 ($2.11 per share) increased from net income for the first quarter of 2007 of $622,056 ($2.07 per share). This demonstrates a marginal increase in our results of operations for the quarter ended March 31, 2008 when compared with the quarter ended March 31, 2007. As interest rates have declined, we have experienced a marginal decline in net interest income. We continue to manage our mix of interest-earning assets and interest-bearing liabilities during these times of economic concern. During the first quarter of 2008, we realized a gain on the sale of securities providing an increase in noninterest income and had a modest increase in noninterest expense. As a conservatively managed community bank, which has avoided exposure to sub-prime loans, we remain optimistic about the future of Jefferson Security Bank as we continue to be faced with unpredictable economic conditions.”

Total assets for the bank as of March 31, 2008 were $246.8 million, which is a decline of $2.2 million or 0.9% from total assets as of December 31, 2007 of $249.0 million. Loans, net of reserve, as of March 31, 2008 were $158.2 million, which is a decline of $2.2 million or 1.4% from loans, net of reserve, as of December 31, 2007 of $160.4 million. Deposits as of March 31, 2008 were $215.4 million which is an increase of $400 thousand or 0.2% from deposits as of December 31, 2007 of $215.0 million. The return on average assets was 1.03%, and the return on average equity was 12.80% for the quarter ended March 31, 2008, as compared to a return on average assets of 1.01% and a return on average equity of 14.07% for the quarter ended March 31, 2007. At March 31, 2008, net loans to deposits were 73.4% as compared to 74.6% at December 31, 2007. Book value per share as of March 31, 2008 was $67.52 per share, an increase of $2.61 per share or 4.0% from book value per share of $64.91 as of December 31, 2007.

Jefferson Security Bank, founded in 1869, is a community bank engaged in the general banking business in Berkeley County and Jefferson County, West Virginia, and Washington County, Maryland. The Bank currently has six offices. This press release may contain forward-looking statements, as defined by federal securities laws, which may involve significant risks and uncertainties. The statements are based on estimates and assumptions made by management in conjunction with other factors deemed appropriate under the circumstances. Actual results could differ materially from current projections. Readers are encouraged to read filings the Bank has made with the Federal Deposit Insurance Corporation for additional information. Branch Offices: 7994 Martinsburg Pike, Shepherdstown, WV (304-876-2800) 873 East Washington Street, Charles Town, WV (304-725-9752) 277 Mineral Drive, Suite 1, Inwood, WV (304-229-6000) 1861 Edwin Miller Boulevard, Martinsburg, WV (304-264-0900) 103 West Main Street, Sharpsburg, MD (301-432-3900)

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