Standard Financial Corp. and Allegheny Valley Bancorp, Inc. Announce Merger of Equals Transaction

Keefe, Bruyette, & Woods, Inc. served as financial advisor and Luse Gorman, PC provided legal counsel to Standard Financial. Boenning & Scattergood, Inc. served as financial advisor and Bybel Rutledge LLP served as legal counsel to Allegheny Valley Bancorp.

About Standard Financial Corp. and Standard Bank 
Standard Financial Corp., with total assets of $485 million at June 30, 2016, is the parent company of Standard Bank, a Pennsylvania chartered savings bank which operates nine offices serving individuals and small to mid-sized businesses in Allegheny, Westmoreland and Bedford Counties, in Pennsylvania and Allegany County in Maryland. Standard Financial Corp. is traded on the OTCQX Exchange by OTC Markets Group under the symbol STND. Standard Bank is a member of the FDIC and an Equal Housing Lender. For more information about the company, please refer to its Web address, https://www.standardbankpa.com/

About Allegheny Valley Bancorp, Inc. and Allegheny Valley Bank of Pittsburgh 
Allegheny Valley Bancorp, Inc., with total assets of $435 million at June 30, 2016, is the parent company of Allegheny Valley Bank of Pittsburgh, a Pennsylvania chartered bank which operates nine offices serving individuals and small to mid-sized businesses in Allegheny County, Pennsylvania. Allegheny Valley Bancorp, Inc. is traded on the OTCQX Exchange, operated by OTC Markets Group, under the symbol AVLY. For more information about the company, please refer to its Web address, www.avbpgh.com

Special Note Concerning Forward-Looking Statements 
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by the use of words such as "believe," "expect," "anticipate," "plan," "intend," "estimate," "may," "will," "would," "could," "should" or other similar expressions. All statements in this document, including forward-looking statements, speak only as of the date they are made, and we undertake no obligation to update any statement in light of new information or future events.

A number of factors, many of which are beyond our ability to control or predict, could cause actual results to differ materially from forward-looking statements. These factors include, among others, the following: ability to obtain regulatory approvals and meet other closing conditions to the merger, including approval by Standard Financial Corp. and Allegheny Valley Bancorp, Inc. shareholders, on the expected terms and schedule; delay in closing the merger; changes in interest rates; national and regional economic conditions; legislative and regulatory changes; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the size, quality and composition of the loan or investment portfolios; demand for loan products; deposit flows; competition; demand for financial services in our market area; changes in real estate market values in our market area; and changes in relevant accounting principles and guidelines. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

Additional Information About the Merger and Where to Find It 
This press release does not constitute a solicitation of proxies.

In connection with the proposed merger transaction, Standard Financial Corp. and Allegheny Valley Bancorp, Inc. will file with the Securities and Exchange Commission a Joint Proxy Statement/Prospectus, as well as other relevant documents concerning the proposed transaction. Shareholders of Standard Financial Corp. and Allegheny Valley Bancorp, Inc. are urged to read the Joint Proxy Statement/Prospectus regarding the proposed merger when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information.

A free copy of the Joint Proxy Statement/Prospectus, as well as other filings containing information about Standard Financial Corp. and Allegheny Valley Bancorp, Inc., may be obtained at the SEC's Internet site (http://www.sec.gov). You will also be able to obtain these documents, free of charge, from Standard Financial Corp. at www.standardbankpa.com under the Investor Relations tab or from Allegheny Valley Bancorp, Inc. at www.avbpgh.com under the Investor Relations tab. Copies of the Joint Proxy Statement/Prospectus can also be obtained, free of charge, by directing a request to Investor Relations, Standard Financial Corp., 2640 Monroeville Boulevard, Monroeville, PA 15146.

Participants in the Solicitation 
Standard Financial Corp, Allegheny Valley Bancorp, Inc., and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Standard Financial Corp. and Allegheny Valley Bancorp, Inc. in connection with the proposed merger. Information about the directors and executive officers of Standard Financial Corp. and Allegheny Valley Bancorp. are set forth in the proxy statements for Standard Financial Corp. and Allegheny Valley Bancorp, Inc. 2016 annual meetings of shareholders. Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the Joint Proxy Statement/Prospectus regarding the proposed merger when it becomes available. Free copies of this document may be obtained as described in the preceding paragraph.

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SOURCE Standard Financial Corp.