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MIDSOUTHERN BANCORP, INC.

REPORTS RESULTS OF OPERATIONS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2024

Salem, Indiana—October 28, 2024. MidSouthern Bancorp, Inc. (the “Company”) (OTCQX: MSVB), the holding company for MidSouthern Savings Bank, FSB (the “Bank”), reported net income for the third quarter ended September 30, 2024 of $460,000, or $0.17 per diluted share, compared to net income $440,000, or $0.17 per diluted share, for the same quarter in 2023. For the nine months ended September 30, 2024, the Company reported net income of $827,000 or $0.30 per diluted share compared to $1.2 million or $0.44 per diluted share for the same period in 2023.

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Mid-Southern Bancorp, Inc. Announces its Quarterly Cash Dividend

Salem, Indiana – October 23, 2024: Mid-Southern Bancorp, Inc. (“Company”) (OTCQX:MSVB), the holding company for Mid-Southern Savings Bank, FSB (“Bank”), announced that its Board of Directors declared a quarterly cash dividend of $0.06 per share on the Company’s outstanding common stock. The cash dividend will be payable on November 22, 2024 to shareholders of record as of the close of business on November 8, 2024. The declaration and payment of future dividends to holders of the Company’s common stock will be at the discretion of the Board of Directors, and will depend upon many factors, including the Company’s financial condition, earnings, capital requirements of its businesses, legal requirements, regulatory constraints, industry practice, and other factors that the Board of Directors deems relevant.

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The Indiana Destination Development Corporation (IDDC) announced the opening of two grants – the Indiana Destination Development Grant and IN Indiana Placemaking Activation Grant.

“These initiatives offer a fantastic opportunity for us to partner with local communities to enhance our state in meaningful ways,” said Lt. Gov. Suzanne Crouch, Indiana's Secretary of Agriculture and Rural Development. “Our focus remains on highlighting our state's rich culture and character and we are proud to be part of the ongoing goal to invite more people to experience it for themselves.”

The IN Indiana Placemaking Activation Grant seeks to create community activations of the IN Indiana identifier throughout the state of Indiana. This grant kickstarts creating "Instagrammable" experiences in high-visibility areas of Indiana and adds beauty to Indiana's rural, urban and suburban landscapes. This is a matching grant of up to $25,000 to fund signage and placemaking efforts. IDDC will allocate up to $100,000 for this program with total expenditure based on the quality of applications received.

The Indiana Destination Development Grant seeks to fund high-impact projects that raise Indiana’s capacity for attracting visitors and providing new and unique tourism experiences, while enhancing the quality of life for residents. This grant helps to enhance and create new tourism assets that will attract out-of-state visitors while fostering industry collaboration. This is a matching grant of between $50,000 and $250,000. IDDC will allocate $250,000 for this program.

The IDDC is now accepting applications for both grants and the deadline to submit is Feb. 7, 2025, at 4 p.m. ET. All entities are eligible to apply for the Indiana Destination Development Grant. Entities eligible to apply for the IN Indiana Placemaking Grant are limited to municipalities, counties, communities, destination marketing organizations, Mainstreet organizations and chambers of commerce.

"Sharing Indiana's authentic story continues to be at the heart of our mission,” said IDDC Secretary and CEO Elaine Bedel. “Innovative projects across the state are key in developing our communities and attractions. We are proud to invite visitors to Indiana and amplify this invitation through supporting creative projects that catch the eye of our visitors and bring smiles to residents alike.”

For more information on guidelines and timelines, go to visitindiana.com/about-iddc/for-industry-partners/awards-grants.