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Jefferson Security Bank Announces Earnings for the First Quarter of 2011


Contact: K. Stephen Morris, President and CEO 304-876-9025

President and CEO of Jefferson Security Bank (OTCBB: JFWV), K. Stephen Morris, announced the results of operations for the first quarter of 2011 and commented, “First quarter 2011 net income was $218,094, $0.76 per share. Jefferson Security Bank remains focused on maintaining a well capitalized position as defined by regulatory guidelines and providing sustained value to our shareholders. We continue to seek opportunities to accomplish these goals while facing the ongoing sluggish economy and increasing regulatory demands being placed on financial institutions.”

As of March 31, 2011, total assets of the Bank were $273.0 million, loans, net of reserve for loan losses, were $140.6 million and deposits were $251.2 million. The annualized return on average assets was 0.32%, and the annualized return on average equity was 4.42% for the quarter ended March 31, 2011. At March 31, 2011, net loans to deposits was 55.96% and book value per share was $67.77.

Jefferson Security Bank, founded in 1869, is a community bank engaged in general banking business in Berkeley County and Jefferson County, West Virginia, and Washington County, Maryland. 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. Offices: 105 East Washington Street, Shepherdstown, WV (304-876-9000) 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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