Exhibit 99.1






Richard R. Sawyer

Tina M. Farrington

Chief Financial Officer

Executive Vice President









FORT WAYNE, INDIANA – JULY 25, 2013 –Tower Financial Corporation (NASDAQ: TOFC) reported net income of $1.6 million or $0.34 per diluted share for the second quarter of 2013, compared with net income of $1.4 million, or $0.28 per diluted share, reported for the second quarter of 2012. Year to date earnings through the first six months of 2013 were $3.6 million, or $0.77 per diluted share, compared to $2.5 million, or $0.51 per diluted share, for the first six months of 2012.


Our second quarter highlights include:


Our Board of Directors declared a dividend of $0.08 per share, an increase of 14.3 percent from the second quarter payment. The dividend has a record date of August 8, 2013 and a payment date of August 22, 2013.


Our “Core” earnings were $2.4 million for the quarter, an increase of 3.5 percent, from the first quarter of 2013. We define core earnings as income before taxes, loan loss provision, and unusual items not related to the day-to-day operations (primarily security sales and other real estate owned (“OREO”) expenses).


Our third consecutive quarter of Return on Average Equity “ROE” in excess of 10 percent.


Our net interest margin for the second quarter increased 3 basis points from the first quarter of 2013.


Our nonperforming assets decreased by $3.8 million during the second quarter, and are now 1.95 percent of total assets.


Mike Cahill, President and Chief Executive Officer of Tower Financial Corporation stated, “We continue to be pleased with our progress and our ability to once again increase the dividend to our shareholders. Our efforts to control overhead, expand our fee revenues, and work through our non-performing assets has allowed our bottom line to improve during a period of lower loan demand and low interest rates. This is a tribute to the many fine team members that I am fortunate enough to work with. We continue to add new customers and expand our existing relationship base, which will greatly benefit us as the economy continues to recover.”



The following information was filed by Tower Financial Corp (TOFC) on Thursday, July 25, 2013 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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