Jerry Johnson, President, commented, &dquo;We believe our current earnings capability will allow us to deal with the downturn in the economy as well as take advantage of strategic growth opportunities.&dquo; Johnson continued, &dquo;Our disciplined business strategy has always been centered on providing home loans and commercial real estate loans that are stable and affordable. It is this prudent strategy that has protected our bank and our customers through the changing economic times. We have served our communities for over 70 years, and will continue to serve the lending and financial needs of individuals and businesses for years to come.&dquo;

Tryon Federal Bank is an FDIC-insured mutually owned bank with a 73-year history in Western North Carolina.

Tryon Federal Bank, along with HomeTrust Bank, Shelby Savings Bank, Home Savings Bank and Rutherford County Bank, comprise the HomeTrust Banking Partnership. Together, the HomeTrust Banking Partnership has assets of over $1.4 billion and is the largest mutual bank headquartered in North Carolina and the second largest in the Southeast. T

Tryon Federal Bank has offices in Polk County. HomeTrust Bank has offices in Buncombe, Henderson, and Haywood Counties. Shelby Savings Bank, Home Savings Bank and Rutherford County Bank have offices in Cleveland, Rockingham and Rutherford Counties, respectively.