First Ottawa Bancshares : May 17, 2023 – Press Release

First Ottawa Bancshares, Inc. Declares Dividend

Company Release - 05/17/2023 4:00pm

Ottawa, Illinois, May 17, 2023. First Ottawa Bancshares, Inc. ("First Ottawa" or the "Company") (OTC:FOTB) the parent company of American Commercial Bank & Trust, NA today declared a dividend of $0.75 per share payable on July 1, 2023 to common shareholders of record as of June 1, 2023.

At the Annual Meeting of Shareholders, three incumbent directors were re-elected to three-year terms: Joseph Chiariello, Lynn M Dubajic Kellogg, and William K Walsh. Brian Zabel was elected Chairman of First Ottawa Bancshares and Dan Miller, Vice-Chairman. Dan Miller was elected Chairman of American Commercial Bank & Trust and Brian Zabel, Vice-Chairman.

First Ottawa Bancshares, Inc. is a single bank holding company with American Commercial Bank & Trust as its wholly owned subsidiary.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about (i) future financial and operating results; (ii) First Ottawa's plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts; and (iii) other statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "targets," "projects," or words of similar meaning generally intended to identify forward-looking statements. These forward-looking statements are based upon the current beliefs and expectations of the management of First Ottawa and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of First Ottawa. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties.

The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) the assumptions and estimates used by First Ottawa's management include both assumptions as to certain business decisions that are subject to change and, in many respects, subjective judgment, and thus are susceptible to multiple interpretations and periodic revisions based on actual experience and business developments, and thus, may not be realized; (2) legislative or regulatory changes, including changes in accounting standards, may adversely affect the businesses in which First Ottawa is engaged; (3) changes in the interest rate environment may adversely affect net interest income; (4) continued diversification of assets and adverse changes to credit quality; (5) competition from other financial services companies in First Ottawa's markets could adversely affect operations; and (6) an economic slowdown that could adversely affect credit quality and loan originations.

First Ottawa cautions that the foregoing list of factors is not exclusive. All subsequent written and oral forward-looking statements concerning other matters attributable to First Ottawa or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. First Ottawa does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

Contacts:

Steven M Gonzalo, President & CEO

First Ottawa Bancshares, Inc. 815-434-0044