Cortland Bancorp (CLDB) 8-K Results of Operations and Financial Condition

EXHIBIT 99

FOR IMMEDIATE RELEASE

Cortland Bancorp
Cortland, Ohio

Lawrence A. Fantauzzi, President of Cortland Bancorp announced that at the May 27, 2008 meeting of the Board of Directors of the Company, a regular dividend of $0.22 per share was declared. The dividend is payable to shareholders of record as of June 13, 2008. Payment and distribution to shareholders will occur on July 1, 2008.

Cortland Bancorp is the parent company for the Cortland Savings and Banking Company. The company has $488.6 million in assets with fourteen banking offices serving Trumbull, Portage, Ashtabula, Mahoning and Geauga counties in Ohio. Visitwww.cortland-banks.com and access the Investor Relations tab for additional company information including recent press releases.