<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>c82487exv99.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>


                                                                      Exhibit 99


For Immediate Release                            Contact:  Kathleen Bruegenhemke
                                                 Senior Vice President,
                                                  Investor Relations
                                                 TEL: 573.761.6100
                                                 FAX: 573.761.6272

                       EXCHANGE NATIONAL BANCSHARES, INC.
                     OF JEFFERSON CITY, MISSOURI, ANNOUNCES
              YEAR 2003 ANNUAL EARNINGS OF $2.15 PER DILUTED SHARE


         JEFFERSON CITY, MO, January 30, 2004 - Today, Exchange National
Bancshares, Inc. (NASDAQ: EXJF) reported 2003 diluted earnings of $2.15 per
share compared to $1.90 per share in 2002.

Net income for 2003 of $9,044,000 increased $951,000 when compared to 2002.

In commenting on earnings, James E. Smith, Chairman and CEO said, "Financial
results for the year were strong. Increases over 2002 are attributed in large
part to a higher volume of average earnings assets and continued strong activity
in the residential mortgage department. While maintaining a constant net
interest margin, the volume of average earning assets increased $54,812,000
which resulted in a $1,986,000 increase in net interest income. The majority of
the earning asset growth resulted from commercial and real estate loan growth
and the company's June 2003 purchase of a Springfield, MO branch."

Mr. Smith added, "Gains on the sale of real estate loans increased approximately
$738,000 over last year. These gains were partially offset by a $307,000
increase in impairment over prior year in the carrying value of mortgage loan
servicing rights."

Exchange National Bancshares, a multi-bank holding company headquartered in
Jefferson City, Missouri, is the parent company of The Exchange National Bank of
Jefferson City with locations in California, Tipton and St. Robert; Citizens
Union State Bank & Trust of Clinton with locations in Windsor, Collins, Osceola
and Springfield; and Osage Valley Bank of Warsaw.


<PAGE>

FINANCIAL SUMMARY

(unaudited)

<Table>
<Caption>
Balance sheet information:                    December 31, 2003      December 31, 2002
<S>                                           <C>                    <C>
  Loans, net of allowance
    for loan losses                             $575,651,786          $479,443,190
  Debt and equity securities                     188,955,832           186,724,362
  Total assets                                   874,967,325           794,417,912
  Deposits                                       665,261,965           591,190,652
  Stockholders' equity                            87,782,744            82,827,120
</Table>

<Table>
<Caption>
                                                Twelve Months         Twelve Months
Statement of income information:            Ending Dec. 31, 2003   Ending Dec. 31, 2002
<S>                                         <C>                    <C>
  Total interest income                         $ 38,922,114          $ 40,463,297
  Total interest expense                          12,798,341            16,325,700
  Net interest income                             26,123,773            24,137,597
  Provision for loan losses                        1,092,000               936,000
  Noninterest income                               6,704,013             6,102,670
  Noninterest expense                             18,536,007            17,831,597
  Income taxes                                     4,155,865             3,379,380
  Net income                                       9,043,914             8,093,290
</Table>

Statements made in this press release that suggest Exchange National Bancshares'
or management's intentions, hopes, beliefs, expectations, or predictions of the
future include "forward-looking statements" within the meaning of Section 21E of
the Securities and Exchange Act of 1934, as amended. It is important to note
that actual results could differ materially from those projected in such
forward-looking statements. Additional information concerning factors that could
cause actual results to differ materially from those projected in such
forward-looking statements is contained from time to time in the company's
quarterly and annual reports filed with the Securities and Exchange Commission.



</TEXT>
</DOCUMENT>
