Porter Bancorp, Inc. Holds Annual Meeting of Shareholders

Porter Bancorp, Inc. (NASDAQ: PBIB), parent company of Limestone Bank, announced today that its shareholders elected seven directors, approved a non-binding advisory vote on the compensation of the Company’s executives, approved an amendment to the Articles of Incorporation to change the Company’s name to Limestone Bancorp, Inc., approved an amendment to the Articles of Incorporation to extend certain restrictions on share transfer designed to protect the long-term value of accumulated tax benefits, approved the 2018 Omnibus Equity Compensation Plan, and approved a proposal to ratify the appointment of the Company’s independent registered public accounting firm.

John T. Taylor, President and CEO of Porter Bancorp, Inc., stated, “We are pleased that shareholders overwhelmingly approved our corporate name change to Limestone Bancorp, Inc. We have taken significant steps in recent years to reposition our company to improve our profitability and build long-term shareholder value and believe our new name highlights the strong foundation we’ve created for future growth. We expect to complete the name change process on or about June 15, 2018.”

“We recently reported improved financial results for our first quarter of 2018 that benefited from our quality loan production, growth in net interest income and improved expense management. We remain positive about our continued growth and profitability in the coming year.”

At the meeting, shareholders elected the following as directors to serve for a one-year term:

• W. Glenn Hogan – Chairman of Porter Bancorp, Inc. and CEO of Hogan Real Estate, a full service commercial real estate development company headquartered in Louisville, KY
• Michael T. Levy – President of Muirfield Insurance LLC of Kentucky, a Lexington, KY based insurance brokerage firm
• James M. Parsons – Chief Financial Officer of Ball Homes, LLC, a residential real estate development firm headquartered in Lexington, KY
• Bradford T. Ray – Retired Chairman and CEO of Steel Technologies, Inc., a steel processor
• Dr. Edmond J. Seifried – Principal S&B West LLC, a community bank consulting center in Easton, Pennsylvania, and Professor Emeritus at Lafayette College in Easton, Pennsylvania
• John T. Taylor – President and CEO of Porter Bancorp, and President and CEO of Limestone Bank
• W. Kirk Wycoff – Managing Member of Patriot Financial Partners, L.P., a private equity fund focused on investing in community banks, thrifts and other financial service related companies

About Porter Bancorp, Inc.