Oxford Bank : Awards FHLBank Indianapolis Elevate Grants to Diverse Group of Small Businesses

FOR IMMEDIATE RELEASE

OXFORD BANK CORPORATION AWARDS FHLBANK INDIANAPOLIS ELEVATE GRANTS TO DIVERSE GROUP OF SMALL BUSINESSES

OXFORD, Mich., May 4, 2023 - Oxford Bank Corporation ("Oxford" or "the Company") (OTC Bulletin Board: OXBC), the holding company for Oxford Bank("the Bank"), announced today that it has awarded small business grants to four local businesses in Michigan through the Federal Home Loan Bank of Indianapolis Elevate Grant program.

Elevate is an innovative grant program that awards up to $20,000 to assist the growth and development of local small businesses, their workforces, and the communities where they are located. As an FHLBank Indianapolis member, Oxford Bankawards this grant each year to a select number of eligible recipients.

"We are honored to be part of this unique effort in our partnership with FHLBank Indianapolis," says David P. Lamb, Oxford Chairman, President & CEO. "We share a deep commitment to our local communities and to the growing number of small businesses that we serve and support through our strong customer relationships and value-driven services."

Oxford Bank awarded Elevate grants to the following businesses:

• Andrew Kopietz LLC, DBAGood Done Daily(Hamtramck, MI) - an independent graphic design practice that helps people drive social, civic and place-based change
• Brewery Faisan(Detroit, MI)- a Detroit-based microbrewery that produces high-quality,Belgian-inspired craft beer that can purchased by the can or at the Detroit taproom
• Cultured Ferments Company/Cultured Kombucha Co.(Traverse City, MI) - a certified organic and vegan microbrewery that specializes in handcrafted, authentically fermented kombucha
• DL Kusky Services LLC(Flint, MI) - a vendor for the Social Security Administration and the State of Michigan that offers employment services to disabled and low-income customers, including job placement, readiness training, coaching and work-based learning experiences

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Serving a variety of markets and communities throughout Michigan, this diverse group of grant recipients plans to use their grant funds to meet various business needs and goals, including new software and technology updates, equipment automation and specialized workforce training.

"Small businesses play a vital role in our communities by providing products and services that meet a variety of local needs," says MaryBeth Wott, SVP Community Investment & Underwriting Collateral Operations Officer at FHLBank Indianapolis, "The Elevate grant allows FHLBank Indianapolis to partner with member financial institutions like Oxford Bank to support these small businesses. Together, we provide a boost to help make their visions a reality."

She adds, "Not only does this grant help businesses reach their goals, but often it helps create more job opportunities within their communities. It's really a win all around."

Small businesses in Indiana or Michigan may apply for an Elevate grant annually by partnering with an FHLBank Indianapolis member to submit the application. Recipients can use up to $20,000 of Elevate grant funds for capital expenditures, workforce training, or a variety of other needs. A maximum of $5,000 can go toward working capital expenses. Click herefor additional program details and eligibility requirements. You can also access additional information about the grant recipients listed above as well as the full list of the latest Elevate Grant Recipients here.

About FHLBank Indianapolis: Building Partnerships, Serving Communities

FHLBank Indianapolis is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members' customers. FHLBanks are privately capitalized and funded, and they receive no Congressional appropriations. One of 11 independent regional cooperative banks across the U.S., FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. For more information about FHLBank Indianapolis, visit www.fhlbi.comand follow the Bank on LinkedInand Twitter(@FHLBankIndy).

About Oxford Bank

Oxford Bank is a subsidiary of Oxford Bank Corporation, a registered holding company. It is the oldest commercial bank in Oakland County, MI, and operates seven full-service offices in Clarkston, Davison, Dryden, Lake Orion, Oakland Township, Ortonville and Oxford. The Bank also has Customer Experience Centers in Rochester Hills, Ann Arbor, and Macomb (late 2022), MI, with transactional services provided by Interactive Teller Machines only. In addition, Oxford Bank has business banking centers in Wixom, Oxford, and Flint, MI. The Bank's wholly owned subsidiary, Oxford Commercial Finance, also operates a commercial finance center in Phoenix, AZ. The Bank has operated continuously under local ownership and management since it first opened for business in 1884. For more information about Oxford Bank and its complete line of financial services, please visit www.oxfordbank.com.

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Except for the historical information contained herein, the matters discussed in the Release may be deemed forward-looking statements that involve risk and uncertainties. Words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "project", or similar expressions are intended to identify "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Factors which could cause actual results to differ, include, but are not limited to, fluctuations in interest rates, changes in economic conditions of the Bank's market area, changes in policies by regulatory agencies, the acceptance of new products, the impact of competitive products and pricing and the other risks detailed from time to time in the Bank's and Corporation's reports. These forward-looking statements represent the Bank's judgment as of the date of this report. The Bank disclaims, however, any intent or obligation to update these forward-looking statements.

Media Contact:

David P. Lamb, President & CEO

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