PFS Bancorp, Inc. Commences Stock Offering – Press Release

PFS Bancorp, Inc. (the “Company”), the proposed holding company for Peru Federal Savings Bank (the “Bank”), announced today the commencement of its stock offering in connection with the Bank’s proposed conversion from the mutual form of organization to the stock form of organization. The Company and the Bank have received all requisite regulatory approvals and authorizations to commence the stock offering.

The Company is offering for sale up to 1,725,000 shares of common stock (subject to increase to up to 1,983,750 shares) at a purchase price of $10.00 per share. The shares are being offered for sale in a subscription offering to certain depositors of the Bank and to the Bank’s employee stock ownership plan. The Company may offer for sale any shares of common stock that are not subscribed for in the subscription offering to members of the general public in a community offering, with preference given to natural persons (and trusts of natural persons) residing in Bureau, LaSalle and Putnam Counties in Illinois.

All questions concerning the stock offering or requests for offering materials should be directed to the Stock Information Center at 1-(800) 945-8598. The Stock Information Center is open Monday through Friday between 9:00 a.m. and 3:00 p.m., Central time. The Stock Information Center will be closed on bank holidays.

Completion of the conversion and stock offering is subject to the sale by the Company of at least 1,275,000 shares of its common stock in the stock offering, the receipt of final regulatory approval, the approval of the Bank’s members, and other customary closing conditions.

Keefe, Bruyette & Woods, Inc., A Stifel Company, is serving as marketing agent for the subscription offering, and will serve as marketing agent for any community offering. Luse Gorman, PC is serving as legal counsel to the Company and the Bank. Vedder Price P.C. is serving as legal counsel to Keefe, Bruyette & Woods, Inc.

About Peru Federal Savings Bank