SUFFOLK BANCORP ANNOUNCES RESULTS FOR THE FIRST QUARTER OF 2012

Riverhead, New York, May 4, 2012 — Suffolk Bancorp (the “Company”) (NASDAQ - SUBK), parent company of Suffolk County National Bank (the “Bank”), today reported first quarter 2012 net income of $1.2 million, or $0.12 per diluted common share, compared to a net loss of $7.6 million, or $0.78 per diluted common share, a year ago.

The increase in 2012 first quarter earnings was the result of a $20.0 million reduction in the provision for loan losses. The reduction in the provision for loan losses resulted from a lower level of criticized and classified assets in the first quarter of 2012 coupled with positive results from ongoing workout activities. Somewhat offsetting the foregoing improvements were a $4.2 million (22.8 percent) reduction in net interest income and an $832 thousand (6.0 percent) increase in total operating expenses, principally due to non-recurring fees paid to the Company’s former independent registered public accounting firm in 2012. The reduction in net interest income resulted from a lower level of average interest-earning assets, primarily loans, coupled with a narrowing of the net interest margin in 2012 when compared to the year ago period. The reduction in the net interest margin is due to the higher level of non-accrual loans along with an increase in low-yielding overnight interest-bearing deposits in 2012.

Commenting on the first quarter 2012 results, President and CEO Howard C. Bluver stated, “I am pleased to report that we made real progress in the first quarter cleaning up many of the management and credit-related issues that posed significant challenges to the Bank in past years. First and foremost, we now have in place an executive and senior management team that I believe is second to none in the community banking sector. With the additions during the first quarter of a new Chief Financial Officer, a new Chief Lending Officer, a new Comptroller and a new head of Credit Administration, all of whom have significant industry experience, our team is now complete and ready to move forward.

Secondly, our team made real progress on the asset side of the balance sheet. Although non-accrual loans increased slightly from year-end 2011, the Bank’s criticized and classified loan totals declined in the first quarter, versus both March 31 and December 31, 2011, as a result of more focused workout activities, securing additional collateral in certain cases, and upgrading loans where improving financial results warranted such action. We expect to continue an aggressive credit remediation posture throughout 2012 on both the non-accrual and criticized and classified loan pools and expect to see additional improvements in credit quality as the year progresses. The pace of these improvements, however, will depend in large part on local economic conditions. We remain comfortable with our allowance for loan losses, which amounted to $40.0 million at March 31, 2012, representing 4.26 percent of total loans outstanding.

The Company’s capital position remains strong with all ratios well in excess of the regulatory standard for a “well capitalized” institution. Our deposit franchise is among the best in the region with 80percent of our total deposits in low cost, stable core deposit products, including 39 percent in demand deposit accounts. This product mix has served us well and provided the Company with a cost of funds of approximately 32 basis points during the first quarter of 2012; well below our peers.

I am confident that the Bank’s strong franchise, our new management team and a commitment to credit remediation and cost containment will yield improved financial results in the coming quarters.”

Performance Highlights

• Capital – The Company’s Tier I Leverage ratio was 8.76 percent at March 31, 2012 versus 7.94 percent at March 31, 2011 and 8.85 percent at December 31, 2011. The Company’s Total Risk-Based Capital ratio was 14.42 percent at March 31, 2012 versus 12.32 percent at March 31, 2011 and 14.26 percent at December 31, 2011. The Company’s Tangible Common Equity ratio (non-GAAP financial measure) was 9.02 percent at March 31, 2012 versus 7.97 percent at March 31, 2011 and 9.05 percent at December 31, 2011.

• Asset Quality – Total non-accrual loans increased to $83.2 million or 8.85 percent of loans outstanding at March 31, 2012 versus $48.3 million or 4.40 percent of loans outstanding at March 31, 2011 and $80.8 million or 8.33 percent of loans outstanding at December 31, 2011. Total accruing loans delinquent 30 days or more amounted to 2.35 percent of loans outstanding at March 31, 2012 versus 1.64 percent of loans outstanding at March 31, 2011 and 3.56 percent of loans outstanding at December 31, 2011. Net loan recoveries of $51 thousand were recorded in the first quarter of 2012 versus net charge-offs of $851 thousand in the first quarter of 2011 and $4.5 million in the fourth quarter of 2011. The allowance for loan losses totaled $40.0 million at March 31, 2012, $47.5 million at March 31, 2011 and $40.0 million at December 31, 2011, representing 4.26percent, 4.33 percent and 4.12 percent of total loans, respectively, at such dates. The allowance for loan losses as a percentage of non-accrual loans, excluding non- accrual loans categorized as held for sale, was 48 percent, 98 percent and 49 percent at March 31, 2012, March 31, 2011 and December 31, 2011, respectively. The Company held other real estate owned of $2 million at March 31, 2012, $3 million at March 31, 2011 and $2 million at December 31, 2011.

• Core Deposits – Core deposits totaled $1.0 billion at March 31, 2012 versus $1.1 billion at both March 31, 2011 and December 31, 2011. Core deposits represented 80 percent of total deposits in the quarter ended March 31, 2012, 79 percent of total deposits for the quarter ended March 31, 2011 and 81 percent for the quarter ended December 31, 2011. Demand deposits increased by 5.3 percent to $508 million at March 31, 2012 versus $482 million at March 31, 2011 and declined by 3.3 percent from $525 million at December 31, 2011. Demand deposits represented 39 percent of total deposits at March 31, 2012, 34 percent at March 31, 2011 and 40 percent at December 31, 2011.

• Loans – Loans outstanding at March 31, 2012 declined by 14.5 percent to $940 million when compared to March 31, 2011 and by 3.1percent from December 31, 2011.

• Net Interest Margin – Net interest margin was 4.24 percent in the first quarter of 2012 versus 4.99 percent in the first quarter of 2011 and 4.75 percent in the fourth quarter of 2011.

• Performance Ratios – Return on average assets and return on average common stockholders’ equity were 0.31 percent and 3.44percent, respectively, in the first quarter of 2012 and (1.86 percent) and (22.47 percent), respectively, in the comparable 2011 period. For the fourth quarter of 2011, return on average assets and return on average common stockholders’ equity were 0.30 percent and 3.28 percent, respectively.

Suffolk Bancorp is a one-bank holding company engaged in the commercial banking business through the Suffolk County National Bank, a full service commercial bank headquartered in Riverhead, New York. “SCNB” is Suffolk Bancorp’s wholly owned subsidiary. Organized in 1890, the Suffolk County National Bank has 30 offices in Suffolk County, New York.

Safe Harbor Statement Pursuant to the Private Securities Litigation Reform Act of 1995

This press release includes statements which look to the future. These can include remarks about Suffolk, the banking industry, the economy in general, expectations of the business environment in which Suffolk operates, projections of future performance, and potential future credit experience. These remarks are based upon current management expectations, and may, therefore, involve risks and uncertainties that cannot be predicted or quantified and are beyond Suffolk’s control and are subject to a variety of uncertainties that could cause future results to vary materially from Suffolk’s historical performance, or from current expectations. Factors that could affect Suffolk Bancorp include particularly, but are not limited to: a failure by Suffolk to meet the deadlines under SEC rules for filing its periodic reports (or any permitted extension thereof), changes in interest rates; increases or decreases in retail and commercial economic activity in Suffolk’s market area; variations in the ability and propensity of consumers and businesses to borrow, repay, or deposit money, or to use other banking and financial services; results of regulatory examinations; any failure by Suffolk to comply with our written agreement with the OCC (the “Agreement”) or the individual minimum capital ratios for the Bank established by the OCC; the cost of compliance with the Agreement; any failure by Suffolk to maintain effective internal controls over financial reporting; larger-than-expected losses from the sale of assets; potential litigation or regulatory action relating to the matters resulting in Suffolk’s failure to file on time its Quarterly Report on Form 10-Q for the quarters ended March 31, 2011, June 30, 2011, and September 30, 2011 or resulting from the revisions to earnings previously announced on April 12, 2011 or the restatement of its financial statements for the quarterly period ended September 30, 2010 and year ended December 31, 2010; and the potential that net charge-offs are higher than expected or for further increases in our provision for loan losses. Further, it could take Suffolk longer than anticipated to implement its strategic plans to increase revenue and manage non-interest expense, or it may not be possible to implement those plans at all. Finally, new and unanticipated legislation, regulation, or accounting standards may require Suffolk to change its practices in ways that materially change the results of operations.

Source: Suffolk Bancorp news release issued May 4, 2012

Blue Duck Bakery café bakes an American Best bread

The Blue Duck Bakery Café, located in Southampton and Southold, NY, bakes one of America’s best breads according to SAVEUR Magazine’s May “American Bread” issue. Their Finnish-style sour rye or “ruisleipa” is number five of 20 outstanding loaves baked by America’s top artisanal bakers from around the nation.

“Keith Kouris’s two Long Island bakeries feature a vast range of international breads, but their Finnish-style sour rye is our favorite…” commented Meryl Rosofsky and Alex Rush in Saveur Magazine’s “Twenty Loaves We Love” article. Ruisleipa, also known as sour rye, is a dark, dense sour bread popular in Finland. It is baked in flat rings with a center hole that was traditionally placed on poles to dry.

The Blue Duck Bakery Café, open since 1999, is known for their exceptional artisan breads created by hand in the centuries old tradition of European bakers. Their artisan breads can be found at their two retail locations in Southampton and Southold. A third location in Riverhead is expected to open this summer. Blue Duck Bakery breads are delivered fresh daily from Montauk to Manhattan including Whole Foods Markets, NE region and Brooklyn’s Union Markets.

SAVEUR is a magazine for people who experience the world food first. Created to satisfy the hunger for genuine information about food in all its contexts, the magazine emphasizes heritage and tradition, evoking flavors from around the world including forgotten pockets of culinary excellence in the United States. It celebrates the cultures and environments in which dishes are created and the people who create them. It serves up rich, satisfying stories that are complex, defining and memorable.

Source: Blue Duck Bakery press release dated April 23, 2012.

CPSC Investigators Find, Stop Nearly 650,000 Unsafe Products at the Start of Fiscal Year 2012

WASHINGTON, D.C. - Investigators with the U.S. Consumer Product Safety Commission (CPSC) prevented more than half a million violative and hazardous imported products from reaching the hands of consumers in the first quarter of fiscal year 2012.

Working with U.S. Customs and Border Protection (CBP) agents, CPSC port investigators successfully identified consumer products that were in violation of U.S. safety rules or found to be unsafe. CPSC and CBP teamed up to screen more than 2,900 imported shipments at ports of entry into the United States. As applicable, these screenings involved use and abuse testing or the use of an X-ray fluorescence (XRF) analyzer. Their efforts prevented more than 647,000 units of about 240 different noncomplying products from reaching consumers, between October 1, 2011 and December 31, 2011.

Topping the list of products stopped were children's products containing levels of lead exceeding the federal limits, toys and other articles with small parts that present a choking hazard for children younger than 3 years old, and toys and child care articles with banned phthalates.

In addition to violative toys and other children's products, items stopped at import included defective and dangerous hair dryers, lamps and holiday lights.

"We mean business when it comes to enforcing some of the toughest requirements for children's products in the world. If an imported product fails to comply with our safety rules, then we work to stop it from coming into the United States," said Chairman Inez Tenenbaum. "Safer products at the ports means safer products in your home."

During fiscal year 2011, CPSC inspected more than 9,900 product shipments at the ports nationwide and stopped almost 4.5 million units of violative or hazardous consumer products from entering the stores and homes of U.S. consumers.

CPSC has been screening products at ports since it began operating in 1973. In 2008, the agency intensified its efforts with the creation of an import surveillance division.

Harmful/Violative Products CPSC Stopped from Reaching Consumers

To see this press release on CPSC's web site, including a table and graphics on Harmful/Violative Products CPSC Stopped from Reaching Consumers, please go to: http://www.cpsc.gov/cpscpub/prerel/prhtml12/12142.html.

Source: Consumer Product and Safety Commission press release dated April 5, 2012.

Aquebogue Abstract Corp., one of Riverhead's oldest independent title abstract companies, has been acquired by a Garden City title firm.

Aquebogue Abstract Corp. is now a subsidiary of Abstracts Incorporated, Aquebogue Abstract principal Ken Zahler confirmed Monday.

Zahler, a title closer since 1974, founded Aquebogue Abstract in 1985.

"We are delighted to have Ken and his staff as a part of Abstracts Incorporated," said Sal J. Turano, founder of Abstracts Incorporated, which, with the acquisition of Aquebogue Abstract, marks its expansion into Suffolk County.

Zahler said the economic slowdown and its impact on the real estate market were factors in his decision to sell. "It became apparent that title agency mergers were going to become necessary for small companies to survive," Zahler said.

Zahler said he will continue to work for the company for at least five years.

"Since I don’t golf maybe many more after that," he joked.

Kelli Naugles is also staying on. Both will continue to work out of the company's Maple Avenue offices in Riverhead.

Jenny Zahler is leaving the company to work at Daniel Gale Sotheby’s on Shelter Island, Zahler said.

While he pursued the possibility of selling his company, "The issue for me became how to maintain the level of service that you have come to expect while joining another company that may operate differently," Zahler wrote in a message to clients. "Just as providing a quality service was my goal in 1985 so too does that goal remain in the forefront today." Turano shares that vision, Zahler said, which made the Garden City company a good fit.