Donius to Depart Pulaski after Two Decades of Service

Pulaski Financial Corp. (Nasdaq Global Select: PULB), the holding company for Pulaski Bank, today announced that William A. Donius will not be seeking re-election to the Company's Board of Directors at its upcoming annual meeting. Donius, who has served the holding company and the Bank as a senior manager, Chairman and CEO and/or a director continuously since 1992, plans to devote his full attention to his many other civic, charitable and commercial interests.

After he became the Company’s CEO over a decade ago, Donius spearheaded Pulaski's transformation from a $179 million thrift into a publicly-traded community bank with $1.3 billion in assets that has become a mortgage lending leader in the St. Louis and Kansas City metropolitan areas. Donius has most recently served as a consultant to and director of the holding company and Chairman of the Bank's board. During this time, he provided continuity while Gary W. Douglass, the Company's and Bank's CEO since May 1, 2008, established himself effectively as Pulaski's new leader.

Donius has served on many industry, civic and charitable boards over the years including the Thrift Institutions Advisory Council of the U.S. Federal Reserve Board in Washington, D.C. and America's Community Bankers, where he chaired the for-profit subsidiary board. Locally, he served on the boards of the St. Louis Art Museum, Maryville University, Barnes Jewish Hospital Foundation, ARCHS, Forest Park Forever and the St. Louis Beacon. In addition, he has volunteered and chaired numerous fundraisers for local organizations including the Arts and Education Council, Doorways, American Parkinson's Disease, and the St. Louis Central Library Foundation. Donius was recognized by the Association for Fundraising Professionals in 2007 as their St. Louis Volunteer of the Year. Pulaski Bank was also voted "Best Place to Work" in a 2007 St. Louis Business Journal survey while under Donius’ direction.

Donius commented, "I feel that it is appropriate to move on at this time. I plan to focus my full-time energies on community service, publishing the book I've written and continuing to write for the Huffington Post."

In commenting on Donius' planned departure, Board Chairman Stanley J. Bradshaw said, "My fellow directors and I all join Pulaski's employees, stockholders and the many local St. Louisans, who have come to know and respect Bill over the years, in thanking him for his many years of successful service. Like his father Walter Donius and grandfather Michael Burdzy before him, Bill will always hold a unique place of honor in the legacy that his family has left since the Bank's very first day more than 88 years ago. We intend to honor his and their contributions best by focusing, as they have, on the profitable long-term growth of the Bank."

About Pulaski Financial

Pulaski Financial Corp., operating in its 88th year through its subsidiary, Pulaski Bank, serves customers throughout the St. Louis and Kansas City metropolitan areas. The bank offers a full line of quality retail and commercial banking products through 12 full-service branch offices in the St. Louis metropolitan area and offers mortgage loan products through six loan production offices in the St. Louis and Kansas City metropolitan areas. The Company’s website can be accessed at www.pulaskibankstl.com.

This news release may contain forward-looking statements about Pulaski Financial Corp., which the Company intends to be covered under the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. These forward-looking statements cover, among other things, anticipated future revenue and expenses and the future plans and prospects of the Company. These statements often include the words "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "potentially," "probably," "projects," "outlook" or similar expressions. You are cautioned that forward-looking statements involve uncertainties, and important factors could cause actual results to differ materially from those anticipated, including changes in general business and economic conditions, changes in interest rates, legal and regulatory developments, increased competition from both banks and non-banks, changes in customer behavior and preferences, and effects of critical accounting policies and judgments. For discussion of these and other risks that may cause actual results to differ from expectations, refer to our Annual Report on Form 10-K for the year ended September 30, 2010 on file with the SEC, including the sections entitled "Risk Factors." These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update them in light of new information or future events.