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ISS Proxy Advisory Services And Glass Lewis & Co. Recommend Vote For HopFed Bancorp, Inc. Proxy Proposals At Annual Meeting.

Vote FOR Proposals on WHITE
Proxy Card

 

HOPKINSVILLE, Ky., May 8, 2013 /PRNewswire/ — HopFed Bancorp, Inc.
(
NASDAQ

:
HFBC

HFBC High Frequency Broadcasting Conference
)(the “Company”), the holding company for
Heritage Bank, today announced that
ISS

See Institutional Shareholder Services (ISS).
 Proxy
Advisory Services

 (ISS)
and Glass Lewis & Co., the leading independent proxy advisory firms,
recommended that HopFed stockholders vote in favor of all of
management’s proposals. ISS and Glass Lewis recommended that HopFed
shareholders vote FOR the election of Dr. Thomas I. Miller, Steve Hunt
and Michael L. Woolfolk as directors, the HopFed Bancorp, Inc. 2013 Long
Term Incentive Plan, and all other Company proposals on the WHITE proxy
card. The Company’s Annual Meeting of Stockholders will be held May
15, 2013.

Commenting on the ISS and Glass Lewis reports, John E. Peck,
president and chief executive officer, said, “We are pleased that
the two most highly respected independent proxy advisory services, ISS
Proxy Advisory Services and Glass Lewis & Co., have recommended a
vote in favor of all of management’s proposals. ISS and Glass Lewis
advise many institutional investors, state and corporate pension funds
on proxy voting matters and their support is a solid endorsement of
HopFed’s management and Board of Directors. We believe the
endorsements from ISS and Glass Lewis support our strategy to grow
HopFed through the proposed acquisition of Sumner Bank & Trust. We
believe our growth strategy is clear and is in sharp contrast to the
dissidents, Joseph Stilwell and The Stilwell Group, who oppose the
acquisition.”

The ISS report highlights the fact that HopFed’s management
expects the Sumner acquisition “to enhance
EPS

 and book value per
share much more than using the same amount of capital to repurchase
shares.” In contrast to management’s plan, ISS states that
“the dissidents have not demonstrated a compelling case that change
at the board level is warranted.” ISS concludes by stating, ”
DO NOT VOTE on the dissident card.”

“We have a solid strategy to build shareholder value through
the proposed acquisition of Sumner Bank and Trust and the election of
our director nominees, including Dr. Thomas I. Miller,” continued
Mr. Peck. “Dr. Miller, like our other directors, supports the
Sumner Bank acquisition that is expected to increase our earnings,
loans, deposits and assets. We believe the proposed acquisition will
expand HopFed into the fastest growing markets in our region – markets
that are three times larger than our existing markets, have higher

growth rates

 and higher household incomes. As a result, we believe the
Sumner acquisition will allow us to achieve a higher level of earnings
that can be used to fund future growth of dividends and stock
repurchases to build long-term shareholder value.

“In sharp contrast to our growth strategy and our proposed
re-election of Dr. Miller as a Director is
Robert Bolton

,
Stilwell’s nominee for director. Mr. Bolton has no experience
running a community bank and lives in
New York
 Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
, a long way from our
customers in Kentucky and Tennessee. We also believe that Mr. Bolton has
a strong conflict of interest in representing all shareholders if
elected to HopFed’s board. He was granted an option to purchase
40,000 shares of Company stock by Stilwell that is triggered by a
“change in control” of the Company, typically a sale of the
Company. The option agreement provides a special incentive for Mr.
Bolton to potentially favor a decision that benefits him personally and
Stilwell rather than all shareholders of the Company. Both ISS and Glass
Lewis recommend a vote FOR Dr. Miller,” concluded Mr. Peck.

HopFed’s Board urges stockholders to vote FOR the three
nominees proposed by the Board and FOR all other company proposals on
the WHITE proxy card, and to not sign or return any GREEN proxy card
sent by the dissidents, Joseph Stilwell and the Stilwell Group.

About HopFed Bancorp, Inc.

HopFed Bancorp, Inc. is the holding company for Heritage Bank
headquartered in
Hopkinsville, Kentucky

. The Bank has eighteen offices
in western Kentucky and middle Tennessee in addition to its
subsidiaries, Fall & Fall Insurance of Fulton, Kentucky and Fort
Webb
LLLP

 of
Bowling Green, Kentucky

. The Bank’s operations include
Heritage Solutions of Murray, Kentucky, Hopkinsville, Kentucky,
Kingston
Springs, Tennessee

 (36.087195, -87.108267)GR1.
 and
Pleasant View, Tennessee
 (36.390178, -87.037099)GR1.
, which offers a broad
line of financial services. Heritage Mortgage Services of Clarksville,
Tennessee offers long term fixed rate 1- 4 family mortgages loans in all
communities in the Company’s general market area. The Bank offers a
broad line of banking and financial products and services with the
personalized focus of a community banking organization. More information
about HopFed Bancorp, Inc. and Heritage Bank may be found on its website
www.bankwithheritage.com.

Important Information

This release may be deemed to be solicitation material in respect of
the solicitation of proxies from the Company’s stockholders in
connection with the Company’s 2013 Annual Meeting of Stockholders
(the “Annual Meeting”). The Company has filed with the
Securities and Exchange Commission (the “SEC”) and mailed to
its stockholders a
proxy statement

 in connection with the Annual Meeting
(the “Proxy Statement”), and advises its stockholders to read
the Proxy Statement and any and all supplements and amendments thereto
because they contain important information. Stockholders may obtain a
free copy of the Proxy Statement and other documents that the Company
files with the SEC at the SEC’s website at www.sec.gov. The Proxy
Statement and these other documents may also be obtained upon request
addressed to the Secretary of the Company at P.O. Box 537, Hopkinsville,
Kentucky 42241-0537.

Certain Information Concerning Participants

The Company, its directors and its executive officers may be deemed
to be participants in the solicitation of the Company’s
stockholders in connection with the Annual Meeting. Stockholders may
obtain information regarding the names, affiliations and interests of
such individuals in the Company’s proxy statement related to its
2013 Annual Meeting of Stockholders, filed with the SEC on April 12,
2013.

Forward-Looking Statements

This release and other reports issued by the Company, including
reports filed with the SEC, contain “forward-looking
statements” that deal with future results, expectations, plans and
performance. These forward-looking statements might include one or more
or the following: projections of our operating results and financial
condition; descriptions of plans or objectives of management for future
operations, products or services; forecasts of future economic
performance; and use and descriptions of assumptions and estimates
underlying or relating to such matters. Forward-looking statements can
be identified by the fact they do not relate strictly to historical or
current facts. They often include words such as
“look-forward,” “pleased,” “believe,”
“expect,” “anticipate,” “intend,”
“plan,” “estimate” or words of similar meaning, or
future or conditional verbs such as “will,” “would,”
“should,” “could” or “may.”

Forward-looking statements about the Company’s expected
financial results and other plans are subject to certain risks,
uncertainties and assumptions. These include, but are not limited to the
following: possible legislative changes and adverse economic, business
and competitive conditions and developments; deposit outflows, reduced
demand for financial services and loan products; changes in accounting
policies or guidelines, or in monetary and fiscal policies of the
federal government; changes in credit and other risks posed by the
Company’s loan portfolios; the ability or inability of the Company
to manage interest rate and other risks; technological, computer-related
or operational difficulties; adverse changes in securities markets;
results of
litigation

; and the other risks; technological,
computer-related or operational difficulties; adverse changes in
securities markets; results of litigation; and the other risks detailed
from time to time in the Company’s SEC filings. Forward-looking
statements speak only as of the date they are made. The Company does not
undertake to update forward-looking statements to reflect circumstances
or events that occur after the date the forward-looking statements are
made. Although the Company believes its expectations are reasonable, it
can give no assurance that such expectations will prove to be correct.
Based upon changing conditions, should any one or more of these risks or
uncertainties materialize, or should any underlying assumptions prove
incorrect, actual results may vary materially from those described in
any forward-looking statements.

EACH STOCKHOLDER, WHETHER HE OR SHE PLANS TO ATTEND THE MEETING, IS
REQUESTED TO SIGN, DATE AND RETURN THE WHITE PROXY CARD WITHOUT DELAY.
ANY PROXY GIVEN BY THE STOCKHOLDER MAY BE REVOKED AT ANY TIME BEFORE IT
IS EXERCISED. A PROXY MAY BE REVOKED BY FILING WITH OUR SECRETARY A
WRITTEN REVOCATION OR A DULY EXECUTED PROXY BEARING A LATER DATE. ANY
STOCKHOLDER PRESENT AT THE MEETING MAY REVOKE HIS OR HER PROXY AND VOTE
PERSONALLY ON EACH MATTER BROUGHT BEFORE THE MEETING. HOWEVER, IF YOU
ARE A STOCKHOLDER WHOSE SHARES ARE NOT REGISTERED IN YOUR OWN NAME, YOU
WILL NEED ADDITIONAL DOCUMENTATION FROM YOUR RECORD HOLDER IN ORDER TO
VOTE PERSONALLY AT THE MEETING.

SOURCE HopFed Bancorp, Inc.