Emclaire Financial Corp. Announces Quarterly Dividend Increase.

EMLENTON, Pa. -- 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 November 15, 2006 of $0.29 per share payable on December 22, 2006, to shareholders of record on December 1, 2006.

As a result of this fourth quarter dividend, regular dividends declared for 2006 total $1.10 per share representing a 7.8% increase in annual dividends from the $1.02 per share declared and paid in 2005. This quarterly dividend reflects an annualized dividend yield of 4.14% based on the stock's closing price of $28.00 per share on November 16, 2006.

David L. Cox, Chairman of the Board, President and Chief Executive Officer of the Corporation and the Bank, noted that this increase in the quarterly dividend reflects the Corporation's continued growth and efforts to enhance shareholder value.

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 eleven full service offices in Venango, Butler, Clarion, Clearfield, Elk and Jefferson 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 www.emclairefinancial.com.