Code of Ethics

This Code of Ethics applies to all Directors and Employees of Belpre Savings Bank. The purpose of this Code of Ethics is to promote honest and ethical conduct and compliance with the law, particularly as related to the maintenance of the Bank’s financial books and records and the preparation of its financial statements. The obligations of this Code of Ethics supplement, but do not replace, the Bank’s Rules of Conduct.

As a finance professional of the Bank, you are expected to:

· Engage in and promote ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships, and to disclose to the Chief Executive Officer any material transaction or relationship that reasonably could be expected to give rise to such a conflict.

· Carry out your responsibilities honestly, in good faith and with integrity, due care and diligence, exercising at all times the best independent judgment.

· Assist in the production of full, fair, accurate, timely and understandable disclosure in reports and documents that the Bank files with, or submit to, Federal Deposit Insurance Corporation and other regulators and in other public communications made by the Bank.

· Comply with applicable government laws, rules and regulations of federal, state and local governments and other appropriate regulatory agencies.

· Promptly report (anonymously, if you wish to do so) to the Audit Committee of the Board of Directors any violation of this Code of Ethics or any other matters that would compromise the integrity of the Bank's financial statements. You may contact the Audit Committee, by mail: Belpre Savings Bank, Audit Committee, P. O. Box 39 Belpre, Ohio 45714

· Never to take, directly or indirectly, any action to coerce, manipulate, mislead or fraudulently influence the Bank's independent auditors in the performance of their audit or review of the Bank's financial statements.

Compliance with this Code of Ethics is a term and condition of your employment. The Bank will take all necessary actions to enforce this Code, up to and including immediate dismissal. Violations of this Code of Ethics may also constitute violations of law which may expose both you and the Bank to criminal or civil penalties.

If you have any questions about how this Code of Ethics should be applied in a particular situation, you should promptly contact the Chief Executive Officer.