Thursday, February 16, 2012
 
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Town and Country Bank and Logan County Bank to combine

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[February 16, 2012]  SPRINGFIELD -- Town and Country Financial Corp. announced on Wednesday that its two banking units -- Logan County Bank and Town and Country Bank -- will be connected later this year to form one community bank charter under the Town and Country Bank name. The combined banks have a total of 10 banking offices in Lincoln, Buffalo, Springfield, Decatur, Forsyth and Mount Zion. The combination is tentatively scheduled for the fourth quarter of this year, and there are no changes to the management and staff at either bank.

HardwareLogan County Bank has been a wholly owned subsidiary of Town and Country Financial Corp. since 1985. This change represents a joining of two sister banks that have been operated within the same company for nearly 30 years. Both banks are celebrating their 50th anniversary in 2012, and the Buffalo location is celebrating its 100th anniversary.

Commenting on the announcement, Micah R. Bartlett, president and CEO of Town and Country Financial Corp., said: "The time was right for us to connect our two banks to form an even stronger banking franchise in central Illinois. We will be able to leverage the strengths of both organizations to better serve all of our customers and offer expanded products and convenience in all of our communities."

He added: "Together with our pending acquisition of a $65 million branch in Quincy, Ill., this represents a major advancement in the progress of our company."

Both banks recently announced financial results for 2011, reflecting strong balance sheets and performance. Logan County Bank reported profits of $906,000, up 12 percent from the prior year, with total risk-based capital of 16.1 percent. Town and Country Bank reported profits of $2.6 million, up 23 percent from the prior year, with total risk-based capital of 15.9 percent. On a combined basis, the banks have total capital of over $46 million and total assets of approximately $380 million.

Brian Ash, president and CEO of Logan County Bank, stated: "At least one key focus will be expanding the agricultural expertise of Logan County Bank into Sangamon, Macon and the surrounding counties as well. Our banks are very strong financially, and by joining forces we are able to more easily serve a larger and more diverse set of customer needs. We are focused on providing even more loans and other services in our local communities."

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Town and Country Financial Corp. is the parent holding company for Town and Country Bank, Town & Country Banc Mortgage Services Inc. and Logan County Bank. The company provides comprehensive lines of retail, commercial, agricultural and mortgage banking as well as trust and investment services to families, businesses and organizations. Town and Country Financial Corp. shares are traded under the symbol TWCF.

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Online:

http://www.logancountybank.com/

http://www.townandcountrybank.com/

[Text from file received from Town and Country Bank]

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