OTTAWA, Ill., Feb. 16 10, 2022 (GLOBE NEWSWIRE) — Ottawa Bancorp, Inc. (OTCQX: OTTW) (the “Company”), the holding company of OSB Community Bank (the “Bank”), today announced that the Board of Company directors approved an increase in the Company’s quarterly cash dividend from $0.10 per share to $0.11 per share. The increased quarterly cash dividend will be paid on or about March 16, 2022 to shareholders of record at the close of business on March 2, 2022.

The Company also announced today that Dianna Torman has been appointed to the Board of Directors of the Company and the Bank. Ms. Torman served as President and CEO of Prairie Community Bank, headquartered in Marengo, Illinois, from January 2003 until her retirement in December 2021.

“We are very pleased to welcome Dianna Torman as a director of the Company and the Bank,” said Craig M. Hepner, President and Chief Executive Officer of the Company and the Bank. “The Board believes that Dianna’s experience and background make her an ideal candidate to serve on the Board and we look forward to working with Dianna in the future.”

About Ottawa Bancorp, Inc.

Ottawa Bancorp, Inc. is the holding company of OSB Community Bank, which provides various financial services to individuals and businesses in the United States. The Bank offers various deposit accounts including checking accounts, money market accounts, regular savings accounts, club savings accounts, certificates and various retirement accounts. Its loan portfolio includes residential mortgages for one to four families, multi-family and non-residential real estate, commercial and construction loans, as well as auto loans and home equity lines of credit. OSB Community Bank was founded in 1871 and is headquartered in Ottawa, Illinois. For more information about the Company and the Bank, please visit www.myosb.bank.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based on current expectations which may differ materially from actual results. These forward-looking statements, identified by words such as “will”, “expect”, “believe” and “outlook”, involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made here. These risks and uncertainties involve, among others, general economic trends and changes in interest rates, increased competition, changes in consumer demand for financial services, the possibility of unforeseen events affecting the industry generally , uncertainties associated with newly developed or acquired operations, market disruptions and the potential effects of the COVID-19 pandemic on the local and national economic environment, on our customers and on our operations, as well as any changes in laws, federal, state and local regulations and ordinances related to the pandemic. Ottawa Bancorp, Inc. undertakes no obligation to publicly release revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required by applicable law.