STANDARD AVB FINANCIAL CORP. ANNOUNCES FOURTH QUARTER AND CALENDAR YEAR EARNINGS AND A QUARTERLY DIVIDEND PAYMENT

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1 CONTACTS: Timothy K. Zimmerman Andrew W. Hasley Susan A. Parente Chief Executive Officer President Executive Vice President & Chief Financial Officer RELEASE DATE: January 24, 2019 STANDARD AVB FINANCIAL CORP. ANNOUNCES FOURTH QUARTER AND CALENDAR YEAR EARNINGS AND A QUARTERLY DIVIDEND PAYMENT Monroeville, Pennsylvania January 24, 2019 Standard AVB Financial Corp. (the Company ) - (NASDAQ: STND), the holding company for Standard Bank, PaSB, announced earnings for the quarter ended 2018 of $1.8 million, or $0.38 per basic share, compared to $1.4 million, or $0.31 per basic share, for the quarter ended The Company s annualized return on average assets and average equity were 0.72% and 5.17%, respectively, for the quarter ended 2018 compared to 0.58% and 4.27%, respectively, for the quarter ended For the year ended 2018, net income was $8.8 million, or $1.90 per basic share compared to $4.3 million, or $1.08 per basic share for the year ended The results for the year ended December 31, 2017 included merger-related expenses of $3.1 million ($2.1 million after tax). Excluding the after-tax impact of merger-related expenses, earnings for that period would have been $6.4 million, or $1.59 per share. The Company s annualized return on average assets and average equity were 0.90% and 6.55%, respectively, for the year ended 2018 compared to 0.51% and 3.69%, respectively, (0.75% and 5.45%, respectively, excluding the merger-related expenses) for the year ended The Company s board of directors declared a quarterly cash dividend of $0.221 per share of the Company s common stock. The dividend will be payable to stockholders of record as of February 4, 2019 and will be paid on February 19, Timothy K. Zimmerman, CEO, stated, We are pleased to report quarterly results consistent with the previous quarter. The operating results continue to reflect the impact of the flattening U.S. Treasury yield curve. Rising short term general market interest rates coupled with declining longer term rates continue to put pressure on the interest rate margin. Our focus is to generate good quality loans with returns sufficient to offset the increasing cost of deposits and borrowed funds. This is difficult due to intense competition for quality loan relationships but we have continued to produce loan volumes in line with our targets. We are happy that we have seen high asset quality throughout the past year. Total assets at 2018 decreased slightly to $971.8 million, from $972.6 million at Investment securities at 2018 increased 12.7% to $150.9 million, from $133.9 million at The increase in investment securities was a result of purchases, partially offset by sales and principal repayments during the period. Net loans receivable at 2018 were $729.0 million, a decrease of 2.4%, compared to $747.0 million at The decrease in loans receivable was the result of loan payoffs exceeding loan production during the period. Total deposits at 2018 increased 3.3% to $717.9 million from $694.8 million at Borrowed funds decreased 19.6% to $111.6 million from $138.9 million. The increase in deposits resulted from increases in time deposits as well as demand and savings accounts. The decrease in borrowed funds was primarily

2 due to the repayment of maturing long term advances and pay downs on both amortizing long term advances and the overnight borrowing line. These decreases were partially offset by new long term advances entered into during the year. Stockholders equity of $137.9 million at 2018 increased 2.9% from $134.0 million at December 31, The increase is the result of net income earned during the period offset by dividends paid and a decrease in accumulated other comprehensive income resulting from fair value adjustments on available for sale securities. All comparisons to year ended 2017 that follow are to Standard Financial Corp. only through April 7, 2017 and to Standard AVB Financial Corp., which includes the acquisition of Allegheny Valley Bancorp Inc., subsequent to that date. Net interest income was $7.3 million for the three months ended 2018 compared to $7.5 million for the three months ended The decrease was primarily due to a decrease in the average balance of loans receivable, partially offset by an increase in the average balance of investment securities. The net interest margin for the 2018 quarter was 3.18%, compared to 3.23% for the same period in the prior year. Net interest income was $29.3 million for the year ended 2018, compared to $25.5 million for the year ended 2017, due primarily to the inclusion of Allegheny Valley Bank for the full year in The net interest margin for the year ended 2018 was 3.21%, compared to 3.20% for the same period in the prior year. The provision for loan losses recorded for the three months ended 2018 was $174,000 compared to $250,000 for the three months ended A provision of $572,000 was recorded for the year ended 2018, compared to $517,000 for the year ended Non-performing loans at 2018 were $2.7 million, or 0.37% of total loans compared to $2.9 million, or 0.39% of total loans at Noninterest income totaled $801,000 for the quarter ended 2018 compared to $748,000 for the quarter ended The increase in noninterest income for the quarter was primarily the result of net losses on the sales of securities included in the 2017 quarter as well as increases in other income and investment management fees offset by the losses related to equity fair value adjustments for the quarter. Noninterest income was $4.3 million for the year ended 2018 compared to $3.5 million for The increase in noninterest income for the year was primarily the result of gains on the sales of securities recognized during the year as well as increases in service charges and investment management fees offset by equity fair value adjustments for the year. Noninterest expenses totaled $5.6 million for the quarter ended 2018, compared to $5.4 million for the quarter ended The increase is primarily due to an increase in compensation and employee benefits. For the year ended 2018, noninterest expenses totaled $22.1 million compared to $18.6 million, excluding merger expenses, for the year ended The increase in noninterest expenses for the year was primarily due to the inclusion of Allegheny Valley Bank operations for the full year. The year ended 2017 included merger expenses totaling $3.1 million. Standard AVB Financial Corp., with total assets of $971.8 million at 2018, is the parent company of Standard Bank, PaSB, a Pennsylvania chartered savings bank that operates 17 offices serving individuals and small to mid-sized businesses in Allegheny, Westmoreland and Bedford Counties, in Pennsylvania and Allegany County in Maryland. Standard Bank is a member of the FDIC and an Equal Housing Lender. This news release may contain a number of forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made. (More)

3 OPERATIONS DATA: S tandard AVB Financial Corp. (1) Financial Highlights (Dollars in thousands, except per share data) (Unaudited) Interest and Dividend Income $ 9,361 $ 9,012 $ 36,795 $ 30,556 Interest Expense 2,077 1,514 7,454 5,076 Net Interest Income 7,284 7,498 29,341 25,480 Provision for Loan Losses Net Interest Income after Provision for Loan Losses 7,110 7,248 28,769 24,963 Noninterest Income ,347 3,543 Noninterest Expenses 5,622 5,367 22,067 18,630 Merger Expenses ,089 Income before Income Tax Expense 2,289 2,629 11,049 6,787 Income Tax Expense 521 1,188 2,248 2,462 Net Income $ 1,768 $ 1,441 $ 8,801 $ 4,325 Earnings Per Share - Basic $ 0.38 $ 0.31 $ 1.90 $ 1.08 Earnings Per Share - Diluted $ 0.37 $ 0.30 $ 1.88 $ 1.05 Annualized Return on Average Assets 0.72% 0.58% 0.90% 0.51% Average Assets $ 976,279 $ 983,768 $ 978,520 $ 852,292 Annualized Return on Average Equity 5.17% 4.27% 6.55% 3.69% Average Equity $ 135,607 $ 133,876 $ 134,410 $ 117,278 Efficiency Ratio 63.45% 60.06% 62.82% 60.83% Net Interest Spread 2.87% 3.02% 2.90% 3.01% Net Interest M argin 3.18% 3.23% 3.21% 3.20% FINANCIAL CONDITION DATA: Total Assets $ 971,796 $ 972,600 Cash and Cash Equivalents 16,207 16,265 Investment Securities 150, ,938 Loans Receivable, Net 728, ,035 Deposits 717, ,846 Borrowed Funds 111, ,913 Total Stockholders' Equity 137, ,972 Book Value Per Share $ $ Tangible Book Value Per Share $ $ Allowance for Loan Losses $ 4,414 $ 4,127 Non-Performing Loans $ 2,729 $ 2,926 Allowance for Loan Losses to Total Loans 0.60% 0.55% Allowance for Loan Losses to Non-Performing Loans % % Non-Performing Assets to Total Assets 0.33% 0.34% Non-Performing Loans to Total Loans 0.37% 0.39% Three Months Ended Twelve Months Ended (1) Financial highlights are for the three and twelve months ending 2018 and 2017, respectively. Financial results for the twelve months ended 2017 are reflective of Standard Financial Corp. only through April 7, 2017 and of Standard AVB Financial Corp., which includes the acquisition of Allegheny Valley Bancorp, Inc., subsequent to that date.

4 STANDARD AVB FINANCIAL CORP. RECONCILIATION OF CERTAIN NON-GAAP FINANCIAL MEASURES EXPLANATION OF OUR USE OF NON-GAAP MEASURES In addition to the results of operations presented in accordance with generally accepted accounting principles (GAAP), our management uses, and this exhibit contains, certain non-gaap financial measures, such as net income excluding merger-related expenses, earnings per share excluding mergerrelated expenses, returns on average assets excluding merger-related expenses and returns on stockholders equity excluding merger-related expenses. We believe these non-gaap financial measures provide information useful to investors in understanding our underlying operational performance, our business and performance trends, and facilitate comparisons with the performance of others in the financial service industry. Although we believe that the above mentioned non-gaap financial measures enhance investors understanding of our business and performance, these non-gaap financial measures should not be considered an alternative to GAAP. The reconciliation of these non-gaap financial measures from GAAP to non-gaap follows.

5 S tandard AVB Financial Corp. Reconciliation of Certain Non-GAAP Financial Measures (Dollars in thousands, except per share data) (Unaudited) Three Months Ended 2018 Three Months Ended 2017 Twelve Months Ended 2018 Twelve Months Ended 2017 Net Income (GAAP) $ 1,768 $ 1,441 $ 8,801 $ 4,325 After tax merger-related expenses (GAAP) ,070 Net income, excluding merger-related expenses $ 1,768 $ 1,441 $ 8,801 $ 6,395 Earnings Per Share - Basic GAAP $ 0.38 $ 0.31 $ 1.90 $ 1.08 Excluding merger-related expenses n/a n/a n/a $ 1.59 Earnings Per Share - Diluted GAAP $ 0.37 $ 0.30 $ 1.88 $ 1.05 Excluding merger-related expenses n/a n/a n/a $ 1.55 Average Assets (GAAP) $ 976,279 $ 983,768 $ 978,520 $ 852,292 Return on Average Assets GAAP 0.72% 0.58% 0.90% 0.51% Excluding merger-related expenses n/a n/a n/a 0.75% Average Equity (GAAP) $ 135,607 $ 133,876 $ 134,410 $ 117,278 Return on Average Equity GAAP 5.17% 4.27% 6.55% 3.69% Excluding merger-related expenses n/a n/a n/a 5.45%