First Federal of Bucks County President and CEO Bruce Iacobucci Retires; Local bank announces first woman president and CEO

First Federal of Bucks County (www.firstfedbucks.com),
a federally chartered mutual savings bank serving businesses and individuals in
Bucks, Philadelphia and Montgomery counties since 1885, announced today that
Bruce Iacobucci, President and CEO will retire at the end of June 2013. Jeane
M. Coyle (nee Vidoni), the bank’s Executive Vice President and Chief
Administrative Officer, and a 30-year financial industry veteran, will become
the next President and CEO and the bank’s first female leader.

Iacobucci started working in banking in 1970 with Provident
National Bank after graduating from Haverford College. Before joining First
Federal of Bucks County in October 2006, he spent many years at various banks –
several of which merged – as a commercial lender and retail banker.

“Bruce has led us to a platform of stability and performance that
the bank has not seen before,” said Coyle. “We have grown significantly under
Bruce’s leadership. In each of the past three years, we achieved record net
profits while growing the bank.”

Because First Federal of Bucks County is a community bank, it “can
provide the fast, responsive, personal service that our customers expect and
deserve,” Iacobucci said. “At the same time, we are able to match the larger
commercial bank products and services, including Internet banking and remote
deposit services, often at a lower cost.”

The bank’s consistent approach to lending has resulted in a strong
loan portfolio and a significant capital base that provides the safety and
soundness customers expect from a bank.

First Federal of Bucks County enters 2013 with a strong equity to
asset ratio, a quality loan portfolio and an improving mix of deposits. “The
bank is committed to providing exemplary commercial lending and small business
services with professional bankers who practice serving customers as opposed to
selling them,” Coyle said.

“I am thankful to work with an amazing team of bankers,
professionals and customers at First Federal of Bucks County and don’t plan on
going far,” said Iacobucci. “I look forward to serving an important role for
the bank’s commercial customers as a member of the Board Loan Committee.”

Coyle will take over as President and CEO on July 1, 2013. Her
vision for the bank is to continue to serve as an important part of the Bucks
County community, to continue to provide convenience and value for the bank’s
business and individual customers, to maintain profitability for long-term
growth and sustainability as a local bank and employer, and to continue to give
back to the community.

“Jeane was unanimously chosen as the next President and CEO,” said
Iacobucci. “We are all confident that Jeane, the supporting management team and
board of directors will continue to guide First Federal of Bucks County into
another era of success.”

As a community bank, First Federal of Bucks County also donates up
to 5 percent of its net income to charitable organizations in Bucks County. In
fact, Iacobucci serves on the board of the United Way Bucks County and is its
campaign co-chair and Coyle serves as the co-chair of the self-sufficiency
panel.

About First Federal of Bucks County

Founded in 1885, First Federal of Bucks County, with $658 million
in assets, operates 11 offices throughout Bucks County. Because it is a
Federally Chartered Mutual Savings Association, the bank is not publicly traded
and is “owned” by the Association’s customers. The mission of First Federal is
to serve businesses and individuals in Bucks County and the surrounding
counties – and to be an integral part of the community. For additional
information, visit us at www.firstfedbucks.com.