Exhibit
      99.1The
      Wilber Corporation AnnouncesThird
      Quarter 2008 Earnings and Quarterly
Dividend




FOR
IMMEDIATE RELEASE




DATE:
            October
      24, 2008FROM:
            Douglas
      C. Gulotty, President and CEOPHONE:
            607-433-4172





Oneonta, New York, October 24, 2008 –The Wilber
Corporation (NYSE Alternext US: GIW) (“Company”), parent company of Wilber
National Bank (“Bank”), today reported net income of $1.383 million and earnings
per share of $0.13 for the three-month period ended September 30,
2008.  By comparison, the Company's net income and earnings per share
for the three-month period ended September 30, 2007 were $1.991 million and
$0.19, respectively.  This represents a 30.5% decrease in net income
and a 31.6% decrease in earnings per share.  This decrease mainly
reflects increases in non-interest expenses as a result of our continuing
expansion plans.  The Company's return on average assets and return on
average equity for the third quarter of 2008 were 0.62% and 7.93%, respectively,
as compared to 1.01% and 12.15% for the same period in 2007.





In the
third quarter of 2008, the Company’s continued expansion into the Greater
Syracuse and Capital District markets of New York State caused personnel,
advertising and marketing expenses to increase $489 thousand in aggregate over
the comparable prior year period.  In addition, computer service fees
increased $241 thousand between the third quarter of 2007 and the third quarter
of 2008 due to increased costs related to outsourcing the management of our core
operating system.  Additionally, non-interest income for the
three-month period ended September 30, 2008 was $1.367 million as compared to
$1.568 million for the same period in 2007.  This net decrease in
non-interest income of $201 thousand, or 12.8% was principally due to the
absence of commission income from the June 2008 sale of the Bank’s membership
interest in its former insurance agency subsidiary, Mang-Wilber, LLC, and
investment securities losses.





Operating
results also declined for the nine-month period ended September 30, 2008 as
compared to the nine-month period ended September 30, 2007.  The
Company earned $4.228 million or $0.40 per share during the first nine months of
2008, as compared to $6.347 million or $0.60 per share for the nine-month period
ended September 30, 2007.  This represents a $2.119 million or 33.4%
decrease in net income and a $0.20 per share or 33.3% decrease in earnings per
share.  During the nine-month period ended September 30, 2007, the
Company recorded a $615 thousand gain on life insurance due to the death of a
senior executive, $200 thousand in flood recovery grants, and $352 thousand in a
deferred gain on the sale of a branch facility.  Similar events did
not occur in the nine-month period ended September 30, 2008, negatively
affecting comparative results for 2008.  In addition, the above
referenced expansion caused personnel, advertising and marketing expenses to
increase $1.419 million over the comparable prior year period.





Net
interest income was $6.844 million during the three-month period ended September
30, 2008 as compared to $6.251 million for the three-month period ended
September 30, 2007, a $593 thousand or 9.5% increase.  This
improvement was largely driven by a $98.559 million or 13.3% increase in average
earning assets between comparable periods and funded largely by a $79.414
million or 12.3% increase in average total deposits between comparable
periods.  Douglas C. Gulotty, the Company's President and CEO, stated,
“The strong growth stemmed from our interest bearing deposit products and, most
recently, our CDARS product as customers have been seeking FDIC insured
deposits.” Tax equivalent net interest margin for the three-month period ended
September 30, 2008 was 3.49%, as compared to 3.66% for the three-month period
ended September 30, 2007, a 17 basis point decrease.  Net interest
income for the nine-month period ended September 30, 2008 was $19.348 million,
as compared to $18.392 million for the comparable period in 2007, a $956
thousand or 5.2% increase.





Mr.
Gulotty added, “We continue to be satisfied with our growth and have not strayed
from our time-tested practice of generating prudently underwritten
loans.  The Company’s approach is not to originate sub-prime, Alt-A,
negative





amortizing,
or other higher risk residential mortgages for its portfolio.  While
Wall Street has been beset by the current residential mortgage loan crisis, we
continue to service our Main Street customers by building mutually beneficial
relationships that will endure.”





Average
loans for the nine-month period ended September 30, 2008 were $479.394 million,
which represents a 14.0% increase over the comparable period last
year.  Mr. Gulotty indicated this growth is not only reflective of the
Company’s success in newly entered markets but from the Bank’s core markets as
well.  “Our balance sheet remains well-capitalized and we have
adequately provisioned for our loan losses.  This has allowed us to
continue to provide credit to worthy borrowers and meet the credit needs for the
people, businesses and institutions in the communities we share,” added Mr.
Gulotty.  The Company recorded $900 thousand in its provision for loan
losses for the nine-month period ended September 30, 2008, as compared to $650
thousand for the nine-month period ended September 30, 2007, a $250 thousand or
38.5% increase.  This increase in the provision was primarily the
result of increases in  consumer loan net charge-offs which were $502
thousand for the first nine months of 2008, an increase of $237 thousand over
the comparable prior year period.  Allowance for loan losses to period
end loans at September 30, 2008 was 1.35%, as compared to 1.58% at September 30,
2007.  This decrease was mainly driven by loan growth through the
first nine months of 2008.





In
related news, the Company declared a quarterly dividend of $0.095 per share at
its October 24, 2008 Board meeting.  The dividend will be paid on
November 28, 2008 to shareholders of record on November 13, 2008 and represents
the 103rd consecutive quarterly dividend paid by the Company.





The
Wilber Corporation is a single bank holding company headquartered in Oneonta,
New York, and through its Bank subsidiary serves the financial needs of the
communities of central and upstate New York.  The Wilber Corporation’s
common stock trades under the symbol “GIW” on the NYSE Alternext US (formerly
the American Stock Exchange).





Wilber
National Bank, chartered in 1874, operates as a traditional commercial bank in
its central New York market with 22 branch offices located in Otsego, Delaware,
Schoharie, Ulster, Chenango, Saratoga, and Broome Counties and seven loan
production offices located in Otsego, Onondaga, Saratoga, Schenectady and Albany
counties.  The Bank intermediates customer deposits and institutional
borrowings into loans, short-term liquid investments, and investment
securities.  The Bank’s lending activities include commercial lending,
primarily to small and mid-sized businesses; mortgage lending for 1-4 family and
multi-family properties, including home equity loans; mortgage lending for
commercial properties; consumer installment and automobile lending; and, to a
lesser extent, agricultural lending.  The Bank’s residential mortgage
division, Provantage Home Loans, is a HUD endorsed lender that provides a wide
variety of residential mortgage products, including government FHA loans that
fit the needs of most consumers. The Bank provides personal trust, agency,
estate administration, and retirement planning services to individuals, as well
as custodial and investment management services to institutions, through its
Trust and Investment Division.  It also offers stocks, bonds and
mutual funds through the third party broker-dealer firm INVeSTÒ.The Bank currently
has 309 full time equivalent employees.  Additional information about
Wilber National Bank can be found at its
website:  www.wilberbank.com.











###








NOTE:  This
release may contain certain statements that are historical facts or that concern
the Company’s future operations or economic performance and that are to be
considered forward-looking statements. Any such forward-looking statements are
made pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The Company cautions that all forward-looking statements
involve risks and uncertainties, and that actual results may differ from those
indicated in the forward-looking statements as a result of various factors such
as changing economic and competitive conditions and other risks and
uncertainties. In addition, any statements in this release regarding historical
stock price performance are not indicative of or guarantees of future price
performance.














THE
      WILBER CORPORATIONCONSOLIDATED FINANCIAL
      INFORMATION($
      In thousands, except per share amounts)Unaudited
              
              As
      of and for the three
              
              
              As
      of and for the ninemonths
      ended September 30,
              
              
              months
      ended September 30,Condensed
      Income Statement
              
              2008
              
              
              2007(3)
              
              2008
              
              
              2007(3)Net
      interest income
              
              $
              6,844
              
              
              $
              6,251
              
              
              $
              19,348
              
              
              $
              18,392Provision
      for loan losses
              
              
              500
              
              
              150
              
              
              
              900
              
              
              650Net
      interest income after provision for loan losses
              
              
              6,344
              
              
              
              6,101
              
              
              
              18,448
              
              
              
              17,742Non-interest
      income
              
              
              1,367
              
              
              
              1,568
              
              
              
              4,815
              
              
              
              5,671Non-interest
      expense
              
              
              5,994
              
              
              5,102
              
              
              
              17,813
              
              
              15,287Income
      before taxes
              
              
              1,717
              
              
              
              2,567
              
              
              
              5,450
              
              
              
              8,126Income
      taxes
              
              
              334
              
              
              576
              
              
              
              1,222
              
              
              1,779Net
      income
              
              $
              1,383
              
              
              $
              1,991
              
              
              $
              4,228
              
              
              $
              6,347Share
      and Per Share DataAverage
      common shares outstanding (in thousands)
              
              
              10,504
              
              
              
              10,538
              
              
              
              10,504
              
              
              
              10,559Period-end
      common shares outstanding (in thousands)
              
              
              10,504
              
              
              
              10,504
              
              
              
              10,504
              
              
              
              10,504Net
      income per share
              
              $
              0.13
              
              
              $
              0.19
              
              
              $
              0.40
              
              
              $
              0.60Cash
      dividends declared
              
              $
              0.095
              
              
              $
              0.095
              
              
              $
              0.285
              
              
              $
              0.285Book
      value per common share
              
              $
              6.65
              
              
              $
              6.37
              
              
              $
              6.65
              
              
              $
              6.37Period-end
      BalancesTotal
      assets
              
              $
              888,218
              
              
              $
              795,904
              
              
              $
              888,218
              
              
              $
              795,904Earning
      assets
              
              
              838,840
              
              
              
              745,246
              
              
              
              838,840
              
              
              
              745,246Loans,
      gross (4)
              
              
              533,552
              
              
              
              435,117
              
              
              
              533,552
              
              
              
              435,117Allowance
      for loan losses
              
              
              7,225
              
              
              
              6,876
              
              
              
              7,225
              
              
              
              6,876Deposits
              
              
              727,458
              
              
              
              650,883
              
              
              
              727,458
              
              
              
              650,883Shareholders’
      equity
              
              
              69,797
              
              
              
              66,860
              
              
              
              69,797
              
              
              
              66,860Average
      BalancesTotal
      assets
              
              $
              880,299
              
              
              $
              778,972
              
              
              $
              851,613
              
              
              $
              768,960Earning
      assets
              
              
              837,158
              
              
              
              738,599
              
              
              
              808,345
              
              
              
              729,271Loans,
      gross (4)
              
              
              515,920
              
              
              
              431,638
              
              
              
              479,394
              
              
              
              420,457Allowance
      for loan losses
              
              
              6,965
              
              
              
              6,884
              
              
              
              6,982
              
              
              
              6,777Deposits
              
              
              725,514
              
              
              
              646,100
              
              
              
              707,129
              
              
              
              639,078Shareholders’
      equity
              
              
              69,396
              
              
              
              64,998
              
              
              
              69,722
              
              
              
              64,207Key
      RatiosEarnings:Return
      on average assets
              
              
              0.62
              %
              
              
              1.01
              %
              
              
              0.66
              %
              
              
              1.10
              %Return
      on average equity
              
              
              7.93
              %
              
              
              12.15
              %
              
              
              8.10
              %
              
              
              13.22
              %Net
      interest margin (tax-equivalent)
              
              
              3.49
              %
              
              
              3.66
              %
              
              
              3.44
              %
              
              
              3.65
              %Efficiency
      ratio (1)
              
              
              68.13
              %
              
              
              61.02
              %
              
              
              69.48
              %
              
              
              59.61
              %Asset
      QualityNet
      loan charge-offs to average loans, annualized
              
              
              0.18
              %
              
              
              0.10
              %
              
              
              0.18
              %
              
              
              0.14
              %Allowance
      for loan losses to period-end loans
              
              
              1.35
              %
              
              
              1.58
              %
              
              
              1.35
              %
              
              
              1.58
              %Allowance
      for loan losses to non-performing loans (2)
              
              
              114
              %
              
              
              132
              %
              
              
              114
              %
              
              
              132
              %Non-performing
      loans to period-end loans
              
              
              1.18
              %
              
              
              1.20
              %
              
              
              1.18
              %
              
              
              1.20
              %Non-performing
      assets to period-end loans and other real estate
              
              
              1.21
              %
              
              
              1.25
              %
              
              
              1.21
              %
              
              
              1.25
              %




Common
      Stock DataThe
      Company’s common stock ($0.01 par value per share) trades on
      the
            2008
            
            High
      Trade
            
            
            Low
      Trade
            
            
            DividendNYSE
      Alternext US (formerly the American Stock Exchange) under the symbol
      GIW.
            3rd
      Quarter
            
            $
            8.98
            
            
            $
            7.70
            
            
            $
            0.0952nd
      Quarter
            
            $
            9.00
            
            
            $
            8.31
            
            
            $
            0.0951st
      Quarter
            
            $
            9.10
            
            
            $
            8.52
            
            
            $
            0.0952007
            
            High
      Trade
            
            
            Low
      Trade
            
            
            Dividend4th
      Quarter
            
            $
            9.50
            
            
            $
            8.65
            
            
            $
            0.0953rd
      Quarter
            
            $
            12.00
            
            
            $
            8.20
            
            
            $
            0.0952nd
      Quarter
            
            $
            9.89
            
            
            $
            8.85
            
            
            $
            0.0951st
      Quarter
            
            $
            10.29
            
            
            $
            9.17
            
            
            $
            0.095


(1)
Calculated by dividing total non-interest expense less amortization of
intangibles and other real estate expense by tax-equivalent net interest income
plus non-interest income other than securities gains and losses.


(2)
Non-performing loans include non-accrual loans, troubled debt restructured loans
and accruing loans 90 days or more delinquent.


(3)
Certain figures have been reclassified to conform with current period
presentation.


(4)
Period-end and average loan balances include non-accrual loans and net deferred
loan fees and costs and excludes the allowance for loan losses and loans held
for sale.