BEL AIR, Md., April 1, 2008 /PRNewswire-FirstCall/ -- SFSB, INC. (OTC Bulletin Board: SFBI) today reported net income for the quarter ended December 31, 2007 of $124,000 or $.04 diluted earnings per share as compared to net income of $68,000 for the quarter ended December 31, 2006. The increase in earnings was primarily due to an $89,000 increase in interest income and a $55,000 increase in non-interest income for the three months ended December 31, 2007 as compared to the three months ended December 31, 2006. These were offset by a $55,000 increase in non-interest expense, a $29,000 increase in the income tax provision and a $4,000 increase in interest expense. The increase of net income for the fourth quarter is primarily a result of an increase in higher yielding commercial loan originations. Non- interest income increased as a result of selling residential loan originations and an increase in fee income from commissions earned through a financial services operation established in mid-year.

For the twelve months ended December 31, 2007, earnings increased to $103,000 or $.04 diluted earnings per share as compared to $18,000 for the twelve months ended December 31, 2006.

At December 31, 2007, SFSB, Inc., had total assets of $172.2 million, compared to $174.2 million at December 31, 2006. The decline in assets is primarily due to decreases in our cash and cash equivalents, investment securities - held to maturity and mortgage backed securities - held to maturity. During the twelve-month period we used cash, the proceeds of a matured investment and the principal repayments of the mortgage backed securities to pay off $5.0 million in borrowings.

At December 31, 2007, stockholders' equity amounted to $21.8 million compared to $22.4 million at December 31, 2006. This decrease was primarily the result of the purchase of $914,000 in additional Treasury stock. The decrease in equity also reflects a $23,000 increase in accumulated other comprehensive loss (resulting from unrealized losses on investments available for sale, net of tax), partially offset by net income of $103,000 and stock based compensation of $171,000.



    SFSB, Inc., headquartered in Bel Air, Maryland is the holding company of
Slavie Federal Savings Bank. The bank is a 106 year old federally chartered,
FDIC-insured thrift serving the Baltimore Metropolitan area and surrounding
counties in Maryland. The bank offers a wide variety of financial services and
products throughout its market area. The bank maintains a website at
www.slavie.com.



                                  SFSB, INC.
                    AUDITED CONDENSED STATEMENTS OF INCOME
                    (In thousands, except per share data)

                                         Three Months      Twelve Months
                                            Ended              Ended
                                         December 31        December 31
                                        2007      2006     2007       2006

    Interest income                   $2,422    $2,335   $9,414     $9,091
    Interest expense                   1,543     1,539    6,137      5,467
    Net interest income                  879       796    3,277      3,624
    Provision for loan losses             36        36      244        376
    Net interest income after
     provision for loan losses           843       760    3,033      3,248
    Non-interest income                  157       102      434        277
    Non-interest expenses                804       749    3,286      3,482
    Income before income tax
     provision                           196       113      181         43
    Income tax provision                  72        45       78         25
    Net income                          $124       $68     $103        $18
    Basic earnings per share             .04       .02      .04        .01
    Diluted earnings per share           .04       .02      .04        .01



                                  SFSB, INC
                       AUDITED SELECTED FINANCIAL DATA
                                (In thousands)

                                       December 31              December 31
                                            2007                    2006

    Total assets                         $172,244                $174,225
    Cash and cash                           1,277                   2,851
    equivalents
    Investment securities                  11,942                  12,526
    Loans receivable-net                  147,744                 147,118
    Deposits                              114,098                 111,823
    Total borrowings                       34,000                  39,000
    Total stockholders' equity             21,769                  22,365

SOURCE SFSB, Inc.