VSB Bancorp, Inc. and Victory State Bank Announce the Election of Robert P. Moore as a Director

Market Wire, May, 2009

Victory State Bank and VSB Bancorp, Inc. (NASDAQ: VSBN) announced that Robert P. Moore, a prominent executive board member of the Staten Island Economic Development Corporation ("SIEDC") and retired Vice President of Marketing & Sales at Keyspan (now National Grid), has been elected to their Boards of Directors.

Mr. Moore, 60, is the Executive Vice Chairman of the SIEDC Board, the premier economic development advocate serving the business community of Staten Island. Mr. Moore, in his former position as VP of Marketing and Sales at Keyspan, assisted developers and builders to access the natural gas services and energy solutions of Keyspan.

Mr. Moore graduated with a Bachelor of Science Degree in Business Management from St. Francis College and a Master in Business Administration Degree in Finance from Long Island University in 1975. He formerly served on the boards of American Gas Association, Junior Achievement of New York and on the Council of Regents for Saint Francis College. Mr. Moore resides in Grymes Hill with his wife Patrice.

Joseph J. LiBassi, VSB Bancorp's and Victory State Bank's Chairman, stated, "Bob Moore's expertise in marketing and sales adds another dimension to our Board. Mr. Moore's knowledge and status as a business leader are areas that we seek to leverage. These attributes and his experience make him an excellent addition to our Board."

VSB Bancorp, Inc. is the one-bank holding company for Victory State Bank. Victory State Bank, a Staten Island based commercial bank, which commenced operations on November 17, 1997. The Bank's initial capitalization of $7.0 million was primarily raised in the Staten Island community. The Bancorp's total equity has increased to $23.9 million primarily through the retention of earnings. The Bank operates five full service locations in Staten Island: the main office in Great Kills, and branches on Forest Avenue (West Brighton), Hyatt Street (St. George), Hylan Boulevard (Dongan Hills) and on Bay Street (Rosebank).

Contact: Ralph M. Branca President & CEO (718) 979-1100