IRW Ibt Bancorp,

IRWIN, Pa., Feb. 5 /PRNewswire-FirstCall/ -- IBT Bancorp, Inc. (AMEX:IRW)(the "Company"), the holding company of Irwin Bank, today announced its results of operations for the three months and year ended December 31, 2007. The Company's net income for the three months ended December 31, 2007 increased $96,000 to $1,905,000 or $ .32 per diluted earnings per share, from $1,809,000, or $ .30 per diluted earnings per share. Net income for the year ended December 31, 2007 decreased $600,000 to $7,856,000, or $ 1.33 per diluted earnings per share, from $8,456,000 or $1.42 per diluted earnings per share. Total assets of the Company increased $46,225,000 to $787,187,000 at December 31, 2007 as compared to $740,962,000 at December 31, 2006. Total loans reached $477,319,000 at December 31, 2007 from $467,721,000 at December 31, 2006, an increase of $9,598,000 or 2.1%. Securities available for sale increased $30,290,000 to $251,539,000 at December 31, 2007 as compared to $221,249,000 at December 31, 2006, an increase of 13.7%. Total deposits reached $610,757,000 at December 31, 2007 as compared to total deposits of $572,472,000 at December 31, 2006. The increase in deposits was primarily the result of the growth in interest bearing deposits, which increased $39,731,000, or 8.2% over the prior year. Securities sold to repurchase, which secure our sweep accounts, grew to $44,944,000 at December 31, 2007, an increase of $17,528,000 or 64% compared to balances outstanding at December 31, 2006. Outstanding advances at the Federal Home Loan Bank of Pittsburgh at December 31, 2007 were $57,631,000 compared to $72,410,000 at December 31, 2006. The decrease was due to the maturity of advances and repayment of amortizing advances. Statements contained in this news release which are not historical facts are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. Irwin Bank is a state chartered commercial bank that conducts its business from its main office located in Irwin, Pennsylvania, six branch offices, a loan center, three supermarket branches located in the Pennsylvania counties of Westmoreland and Allegheny and a trust office in Greensburg, Pennsylvania. The Bank's deposits are insured up to the maximum legal amount by the Federal Deposit Insurance Corporation. The Company's common stock is traded on the American Stock Exchange under the symbol "IRW". IBT Bancorp, Inc. Selected Financial Data (Unaudited) (Dollars in Thousands, except per share data) December 31, December 31, 2007 2006 Total Assets $787,187 $740,962 Securities available for sale $251,539 $221,249 Federal Home Loan Bank stock, at cost $4,423 $5,197 Total loans, net $477,319 $467,721 Total liabilities $721,173 $678,381 Interest bearing deposits $526,649 $486,918 Non-interest bearing deposits $84,108 $85,554 Repurchase agreements $44,944 $27,416 FHLB advances $57,631 $72,410 Stockholders' equity $66,014 $62,581 Three Months Ended Twelve Months Ended December 31, December 31, 2007 2006 2007 2006 Interest Income $11,571 $10,744 $44,449 $ 40,393 Interest Expense 5,868 5,257 22,161 18,514 Net interest income 5,703 5,487 22,288 21,879 Provision for loan losses 150 300 900 1,500 Net interest income after provision for loan losses 5,553 5,187 21,388 20,379 Non-interest income 1,785 1,706 6,806 7,349 Non-interest expense 4,916 4,706 18,025 17,237 Income before income taxes 2,422 2,187 10,169 10,491 Income tax expense 517 378 2,313 2,035 Net income $1,905 $1,809 $7,856 $8,456 Per Share Data: Basic earnings per share $0.33 $0.30 $1.34 $1.43 Diluted earnings per share $0.32 $0.30 $1.33 $1.42 Dividends per share $0.25 $0.25 $1.00 $1.00 Selected Ratios * Return on Average Assets 0.98% 0.98% 1.04% 1.18% Return on Average Equity 13.56% 11.59% 12.71% 13.74% Net Interest Spread 2.53% 2.58% 2.54% 2.72% Net Interest Margin 3.08% 3.16% 3.11% 3.24% December 31, December 31, 2007 2006 Additional Per Share Data: Shares outstanding 5,852,924 5,882,640 Book Value per Share $11.28 $10.64 * Quarterly ratios are annualized DATASOURCE: Irwin Bank CONTACT: Charles G. Urtin, President-CEO of Irwin Bank, +1-724-863-3100 Web site: http://www.myirwinbank.com/

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