Exhibit 99.1
FOR IMMEDIATE RELEASE
Ottawa Savings Bancorp, Inc
Contact: Gary L. Ocepek
President/CEO
(815) 433-2525
Ottawa Savings Bancorp, Inc. Declares
Quarterly Cash Dividend of $0.05 Per Common Share
Ottawa, IL – May 9, 2008 – Ottawa Savings Bancorp, Inc., (OTC BB-OTTW), the holding company for Ottawa Savings Bank, today announced that its Board of Directors has declared a cash dividend of $0.05 per common share. The dividend will be paid on or about June 25, 2008, to stockholders of record as of June 9, 2008.
The Company is the majority-owned subsidiary of Ottawa Savings Bancorp MHC, which owns 55% of the Company’s outstanding shares. Ottawa Savings Bancorp MHC previously filed a notice with the Office of Thrift Supervision of its intent to waive the receipt of dividends paid on the shares it owns of the Company. The Office of Thrift Supervision did not object to the dividend waiver request.
Ottawa Savings Bancorp, Inc. is the holding company for Ottawa Savings Bank, and a majority owned subsidiary of Ottawa Savings Bancorp MHC. The Bank, originally chartered in 1871, is a community bank serving Ottawa, Illinois and LaSalle County through its main office in Ottawa, Illinois.
