Sturgis Bancorp, Inc. CEO Announces Stock Purchase

STURGIS, Mich., Aug. 10, 2011 /PRNewswire/ -- Sturgis Bancorp, Inc. (OTCBB: STBI) announced today that Eric L. Eishen, the President/CEO of Sturgis Bancorp, has purchased 4,539 shares of Sturgis Bancorp stock through his 401K account.  The price paid per share was $6.00.  This purchase was made during a window period for trading of Sturgis Bancorp stock consistent with Sturgis Bancorp policies.

In announcing the trade, Mr. Eishen stated: "I feel the current pricing of our stock represents a buying opportunity. I also wish to demonstrate to existing and potential shareholders that the person running the Bank is confident that the current performance metrics are not expected to be long-term in duration."  Mr. Eishen further stated: "I feel we have the worst behind us and I expect the earnings will be positive going forward."

Sturgis Bancorp executives and board members have a limited number of window periods in which to purchase or sell Sturgis Bancorp stock.  These window periods are typically four times per year. These window periods happen after quarterly or year-end earnings have been released presuming there is not any material non-public information in the possession of the insiders. Three of the board members continue to accumulate shares and none of the directors has liquidated shares in the past 12-months.

Sturgis Bancorp is a holding company for Sturgis Bank & Trust Company, and its subsidiaries Oakleaf Financial Services, Inc. and Oak Mortgage, LLC.  Sturgis Bancorp provides a full array of trust, commercial and consumer banking services from 11 banking centers in Sturgis, Bronson, Centreville, Climax, Colon, South Haven, Three Rivers and White Pigeon, Michigan.  Oakleaf Financial Services offers a complete range of investment and financial-advisory services.  Oak Mortgage offers residential mortgages in all markets of the Bank.

Certain statements in this press release, including statements regarding the intent, belief or current expectations of Sturgis Bancorp, Inc. or its directors or officers, are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995).  Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.

SOURCE Sturgis Bancorp, Inc.

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