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Hampshire First Bank's Assets Continue to Climb

February 16, 2011 - Manchester, NH

In the news release, "Hampshire First Bank'sAssets Continue to Climb," issued Tuesday, February 15, 2011, by HampshireFirst Bank (OTCBB: HFBN), we are advised by the company that the figure inthe last sentence of paragraph four should read ".54%" rather than "54%" asoriginally issued. Complete corrected text follows.

Hampshire First Bank's Assets Continue to Climb

MANCHESTER, NH -- February 15, 2011 -- Hampshire First Bank's (OTCBB: HFBN)net income for the twelve months ending December 31, 2010 totaled$1,109,000 or $0.39 (basic and diluted) per share compared to net income of$1,471,000 or $0.49 per share for 2009. Earnings per share decreased as aresult of a one-time income tax benefit in 2009. Excluding income taxes,the Bank's net operating income increased from $362,000 in 2009 to$1,818,000 in 2010. Net interest income of $7,374,000 and fee income of$476,000 reflected increases of 45% and 353%, respectively.

Other operating expenses increased due to increases in staffing andoccupancy expenses for the Bank's Londonderry and Portsmouth, NH Officeswhich opened in 2009. Provision expenses increased to $1,135,000.President Dunphy said the "increased provisions reflect the growing loanportfolio and relative weakness in the economy." The Bank's allowance forloan losses as of December 31 was 1.3% of gross loans.

During the year, the Bank's total assets, net loans, and total depositsclimbed 29%, 36%, and 35%, respectively. "We are pleased at the market'sacceptance of Hampshire First Bank," said Mr. Dunphy, "All of our Officeshave grown."

The Bank's book value per common share increased to $9.82, As of December31, the Bank had repurchased 237,400 shares of its stock at an average of$8 per share. Annualized ROA and ROE for 2010 were .54% and 4.05%,respectively.

"Hampshire First Bank thanks all our clients and stockholders and we lookforward to sharing further successes with you," Dunphy said. "We are alsoproud to be the top dollar volume SBA lender in the State of New Hampshire,demonstrating our commitment to helping local businesses."

The Bank's complete financial statements can be found

About Hampshire First Bank:

Hampshire First Bank is a New Hampshire-chartered commercial bank thatserves customers throughout Southern New Hampshire. The Bank operates itsmain banking office at 80 Canal Street, Manchester and with locations at221 Main Street in Downtown Nashua, 391 West Street in Keene, 68 NashuaRoad in Londonderry, and 77 Hanover Street in Portsmouth. The bank alsoprovides state-of-the-art electronic banking services, such as OnlineAccount Origination and Remote Deposit Automation. The Bank's common stockis traded on the OTC electronic bulletin board, under the symbol HFBN.

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Thomas B. Wiggins
Treasurer and Chief Financial Officer
(603) 263-1442
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