Advantage Bank Reports Strong Financial Results for Quarter.

Business Editors

BRANCHBURG, N.J.--(BUSINESS WIRE)--Nov. 13, 2003

Peter G. Schoberl, President and Chief Executive Officer of this local community bank reported financial results for the quarter remained strong, and met expectations for growth in earnings and earnings per share.

Advantage Bank's net income as of September 30, 2003 was $223,589, a 239 percent increase over the $65,936 reported in September 2002. Net income per basic share for the nine months ended September 30, 2003 was $.15 compared to $.05 per share in 2002.

Chief Executive Officer Peter G. Schoberl said, "We saw solid growth in our total assets as they grew $29.0 million or 29.2 percent to $128.2 million as of September 30, 2003 compared to $99.2 million in 2002. Loans increased $24.0 million or 36.2 percent to $90.3 million at the end of the quarter compared to $66.3 million at September 30, 2002. Deposits rose $27.1 million or 30.6 percent from $88.5 million at September 30, 2002, to $115.6 million at September 30, 2003."

The Bank's book value per share at the end of the third quarter was $7.73. Advantage Bank's stock (OTCBB:ADBK) reached an all time record high on October 28th, trading at $15.50, up $6.70 (76 percent) from one year ago when the Bank's shares closed at $8.80.

Advantage offers free-for-life personal checking accounts and other full-service banking products including Home-Advantage, an internet based banking product which includes bill paying and Cash Control an investment alternative to mutual funds. Advantage Bank is a member of FDIC and STAR, and is an equal housing lender. For further information about Advantage Bank, call 800-959-0068 or visit the bank's Web site at advantagebanknj.com