Monroeville, PA – May 20, 2010 – The Board of Directors of Standard Mutual Holding Company, Monroeville, Pennsylvania, the mutual holding company for Standard Bank, PaSB, (“Standard” or the “Bank”) announced the adoption of a Plan of Conversion whereby Standard Mutual Holding Company will convert from mutual to stock form. A new state-chartered corporation will be formed as the holding company for Standard Bank and will offer for sale shares of common stock to depositors of the Bank and others in a subscription and community offering.

Timothy K. Zimmerman, President and Chief Executive Officer, said that “After the conversion, our customers will continue to receive the same high levels of service they are accustomed to from the same staff and management team. All deposit and loan accounts will be unaffected. Our regular banking business will continue without interruption.”

The Plan of Conversion establishes March 31, 2009, as the eligibility record date for determining the eligible depositors of Standard Bank entitled to receive nontransferable subscription rights to purchase common stock. As part of the Plan of Conversion and in furtherance of the Bank’s commitment to its local community, the Bank will also establish a charitable foundation and fund the foundation with cash and common stock issued by the new holding company. The foundation will be dedicated to charitable purposes in the communities in which the Bank operates. The Plan timetable anticipates that the conversion will be completed in the fourth quarter of 2010.

This press release is neither an offer to sell nor a solicitation of an offer to buy shares of common stock. The offer will be made only by a prospectus to be filed with the Securities and Exchange Commission. The shares of common stock will not be deposit accounts, and will not be insured by the Federal Deposit Insurance Corporation or any other government agency.

Established in 1913, Standard is a Pennsylvania chartered savings bank with assets of $380 million. Standard operates ten offices serving individuals and small to mid sized businesses in Allegheny, Westmoreland and Bedford Counties, in Pennsylvania and Allegany County in Maryland. Standard is a wholly owned subsidiary of Standard Mutual Holding Company, which has not issued any stock. There is no common stock traded on any exchange. Standard is a Member of FDIC and an Equal Housing Lender.