Exhibit 99.1


FOR FURTHER INFORMATION:
 
  FOR INVESTORS:   FOR MEDIA:
  Richard R. Sawyer   Tina M. Farrington
  Chief Financial Officer      Executive Vice President
  260-427-7150   260-427-7155
  rick.sawyer@towerbank.net   tina.farrington@towerbank.net
                                                                                                                                                                                                                                                   
 
TOWER FINANCIAL CORPORATION REPORTS THIRD QUARTER NET INCOME OF $1.6 MILLION
 
 
FORT WAYNE, INDIANA – OCTOBER 25, 2012 –Tower Financial Corporation (NASDAQ: TOFC) reported net income of $1.6 million or $0.32 per diluted share for the third quarter of 2012, compared with net income of $1.3 million, or $0.27 per diluted share, reported for the third quarter of 2011.  Year to date earnings through the first nine months of 2012 were $4.0 million, or $0.83 per diluted share, compared to $3.2 million, or $0.66 per diluted share for the first nine months of 2011.

Our third quarter highlights include:

 
·
Our $4.0 million net income through the first nine months already exceeds the $3.6 million reported for the full calendar year of 2006, which was our second highest annual net income year in our history.
 
 
·
Sixth consecutive quarter with earnings in excess of $1.0 million, and “Core” quarterly earnings of $2.9 million.  We define core earnings as income before taxes, loan loss provision, and unusual items not related to day to day operations (primarily securities sales and other real estate owned (“OREO”) expenses)
 
 
·
Trust assets under management grew to $675.2 million, an increase of $80.6 million from December 31, 2011.
 
 
·
Our Board of Directors approved a cash dividend of $0.055 per share, payable on November 15, 2012 to shareholders of record on November 1, 2012.
 
 
·
Our leverage capital ratio (Tier 1 Capital divided by average quarterly assets) is now at 12 percent, which is more than double the regulatory requirement of 5% to be considered “well-capitalized”.
 
 
 

The following information was filed by Tower Financial Corp (TOFC) on Thursday, October 25, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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