Exhibit 99.1

FOR IMMEDIATE RELEASE
Contact:		Douglas Ian Shaw
		Senior Vice President and Corporate Secretary				4 West Second Street
		(631) 208-2400				Riverhead, NY 11901
						(631) 208-2400 (Voice) - (631) 727-3214 (FAX)
						invest@suffolkbancorp.com

SUFFOLK BANCORP ANNOUNCES PROFIT FOR THE SECOND AND THIRD QUARTERS OF 2011,

REVISED LOSS FOR THE FIRST QUARTER OF 2011,

RESTATED RESULTS FOR THE THIRD AND FOURTH QUARTERS OF 2010

Riverhead, New York, December 21, 2011 — Suffolk Bancorp (NASDAQ - SUBK) (“Suffolk”) today released results of its operations during the third quarter of 2011 which included earnings-per-share of $0.32, an increase from a loss of ($0.32) (restated) during the comparable period of 2010. Net income was $3,072,000, up from a loss of ($3,137,000) (restated) during the same quarter last year. The loss-per-share for the year to date was ($0.13), down from earnings-per-share of $0.33 (restated) a year ago. The net loss for the year to date was ($1,232,000), down from earnings of $3,187,000 (restated) posted during the first nine months of 2010. The key points are:

J. Gordon Huszagh, President and Chief Executive Officer stated, “We are pleased to be able to report the final results of the quarters ended September 30, 2011, June 30, 2011, and March 31, 2011, and the restatement of the quarter ended September 30, 2010 and year ended December 31, 2010. While we regret the delay in reporting our results, we believe that the comprehensive review that we have undertaken was necessary to provide our investors with what we believe to be accurate information. We believe we have an outstanding franchise in a good marketplace, an excellent net interest margin, a substantial allowance for loan losses, and ample capital. These, along with the patience and loyalty of our customers and employees, are what preserved our core banking business throughout this challenging period, and these are the foundation for our future.”

A detailed financial summary for each of the quarters follows the text of this release. The summary for September 30, 2011 starts on page 3. The summary for June 30, 2011 starts on page 6. The summary for March 31, 2011 starts on page 9. The summary for December 31, 2010 starts on page 12. The summary for September 30, 2010 starts on page 15.

With respect to the restatement of the fourth and third quarters of 2010, numerous steps have been taken to address the weaknesses in loan administration and accounting which led to these restatements. These are

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detailed in each of the five of Suffolk’s reports on Form 10-Q/A, Form 10-K/A, and Forms 10-Q. These filings are available on Suffolk’s website at www.SCNB.com, or through the website of the Securities and Exchange Commission at www.sec.gov.

Suffolk Bancorp is a one-bank holding company engaged in the commercial banking business through SCNB, a full-service commercial bank headquartered in Riverhead, New York. Organized in 1890, SCNB 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 affecting Suffolk Bancorp include particularly, but are not limited to: 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; 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.

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STATISTICAL SUMMARY

(unaudited, in thousands of dollars except for share and per share data)

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CONSOLIDATED STATEMENT OF CONDITION

(unaudited, in thousands of dollars except for share data)

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CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in thousands of dollars except for share and per share data)

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STATISTICAL SUMMARY

(unaudited, in thousands of dollars except for share and per share data)