May 20, 2009

Emclaire Financial Corp. Announces Quarterly Dividend

Company Release - 05/20/2009 18:01

EMLENTON, Pa.--(BUSINESS WIRE)-- The Board of Directors of Emclaire Financial Corp. (OTCBB: EMCF), the parent holding company of the Farmers National Bank of Emlenton, declared a quarterly cash dividend on May 20, 2009 of $0.14 per common share payable on June 19, 2009, to shareholders of record on June 1, 2009. Based on the Corporation's most recent closing price of $23.00 per share, the annual yield on the current quarterly cash dividend rate is 2.4%.

The reduction in the quarterly cash dividend per common share from $0.32 in the first quarter of 2009 to $0.14 per common share for the second quarter of 2009 reflects the previously disclosed actions taken by the Corporation's Board of Directors to preserve capital in light of the uncertain economic climate, to mitigate the cost of the pending FDIC special assessment and to support growth prospects. This reduced dividend will save more than $1.0 million in capital on an annual basis while bringing the cost of common stock capital in line with market funding rates and the dividend payout ratio to a level more consistent with traditional industry averages.

William C. Marsh, Chairman of the Board, President and Chief Executive Officer of the Corporation, stated, "The Board of Directors and I continue to be pleased with the Corporation's financial results and the Bank's balance sheet growth particularly during these challenging economic times. It is satisfying to continue to pay a cash dividend on our common stock."

Emclaire Financial Corp. is the parent company of the Farmers National Bank of Emlenton, an independent, nationally chartered, FDIC-insured community commercial bank headquartered in Emlenton, Pennsylvania, operating twelve full service offices in Venango, Butler, Clarion, Clearfield, Elk, Jefferson and Mercer Counties, Pennsylvania. The Corporation's common stock is quoted on and traded through the OTC Electronic Bulletin Board under the symbol "EMCF". For more information visit the Corporation's web site at

Forward-looking Statements

This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words or phrases such as "expect," "believe," "intend," "plan," "estimate," "may," "should," "will likely result," "will continue," "is anticipated," "estimate," "project" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those currently anticipated due to a number of factors. Emclaire cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Emclaire does not undertake, and specifically disclaims any obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.

    Source: Emclaire Financial Corp.

Contact: Emclaire Financial Corp. William C. Marsh, Chairman of the Board, President and Chief Executive Officer Phone: 724-867-2311 Email:

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