EX-99.1

Exhibit 99.1

INVESTOR CONTACT: Valda Colbart, 419-784-2759, rfcinv@rurban.net

RURBAN FINANCIAL CORP. REPORTS FIRST
QUARTER 2007 EARNINGS

DEFIANCE, Ohio, April 18, 2007 — Rurban Financial Corp. (Nasdaq: RBNF), a leading provider of full-service community banking, investment management, trust services and bank data processing, today reported first quarter 2007 net income of $702,000 compared with $523,000 for the first quarter of 2006, up 34 percent. Diluted earnings per share were $0.14, compared to $0.10 reported for the year-ago first quarter.

Highlights of the quarter include:

	•		Completion of the merger of banking activities into Rurban’s lead bank. Effective as of the opening of business on March 26, 2007, Rurban merged Reliance Financial Services, N.A., its trust and investment subsidiary, and The Exchange Bank, its recently acquired community bank, into The State Bank and Trust Company. The newly-consolidated bank had assets of $529.2 million at period-end.

	•		Rurban reduced expenses during the first quarter by more than $1.8 million on an annualized basis. Most of the expense reductions were related to the merger, which occurred late in the first quarter. Therefore, it is anticipated that the second quarter of 2007 should reflect the impact of the majority of the targeted $1.0 million to $1.5 million annualized pre-tax efficiencies from the merger. Approximately $95,000 of one-time expenses were incurred in the first quarter as a result of implementing these efficiencies.

	•		Bank performance continues to improve. First quarter 2007 net income for State Bank and Trust was $707,000, an increase of $173,000 or 32.4 percent above the year-ago first quarter and $138,000 or 24.3 percent over the linked fourth quarter. The bank’s efficiency ratio improved to 84.0 percent this quarter, from 91.7 percent in the previous quarter and 86.7 percent for the first quarter of 2006. The efficiencies that were implemented in the first quarter are expected to improve the banking operating efficiency ratios beginning in the second quarter.

	•		Continuing improvement in asset quality. Non-performing assets at quarter-end were $4.1 million, or 0.75 percent of total assets, compared with $8.8 million, or 1.64 percent, for the first quarter of 2006 and up nominally from the linked quarter. Net charge-offs were $41,000 or 0.04 percent of average loans this quarter compared with $597,000 or 0.72 percent of average loans for the year-ago quarter.

	•		State Bank and Trust Company opened two new banking offices. On January 2, 2007, the full-service banking center in Fort Wayne, Indiana, replaced the previously-opened loan production office. The new Northtowne banking center, located in Defiance, Ohio, opened on January 16, 2007 and replaced an outdated office building that will be sold.

•

RDSI, Rurban’s data and item processing subsidiary, reported an excellent quarter. Revenue was $5.2 million, up 41.7 percent from last year first quarter and net income was $690,000, up $142,000 or 25.9 percent. Results reflect organic growth, as well as the impact of the September 2006 acquisition of Diverse Computer Marketers, a subsidiary of RDSI.

Kenneth A. Joyce, President and Chief Executive Officer, commented, “This quarter marks the final step in our merger process. The reduction in our expenses as a result of the merger should begin to position us to more efficiently operate in this difficult banking environment.

“Our operations are streamlined, integrated and fully-staffed by managers that are focused on growth and profitability. Asset quality will always remain a priority, but it no longer occupies a predominant portion of our focus. More importantly for investors, we are improving our transparency, with two distinct business segments, banking and data and item processing.”

CONSOLIDATED OPERATIONS


Earnings: (Three months ended)	Mar.					Mar.
(Dollars in thousands except per share data)	2007		Dec. 2006			2006
Diluted EPS	$	0.14	$	0.14		$	0.10
Net interest income	$	3,593	$	3,584		$	3,864
Provision (credit) for loan losses		93		(159	)		246
Non-interest income		6,739		7,576			5,008
Non-interest expense		9,300		10,359			7,950
Net income (loss)	$	702	$	710		$	523

Total revenue, consisting of net interest income plus non-interest income, was $10.3 million for the first quarter of 2007, compared with $8.9 million for the prior-year first quarter, an increase of $1.5 million, or 16.5 percent. Net interest income was $3.6 million, a decrease of $271,000 or 7.0 percent from the 2006 first quarter, and essentially unchanged from the fourth quarter of 2006. Year over year results reflect 2.1 percent growth in average earning assets, combined with a 33 basis point decline in net interest margin. The linked quarter comparison reflects a 3.7 percent decline in average earning assets offset by a twelve basis point improvement in the net interest margin. Mr. Joyce added, “While margins are still declining for the majority of banks in our market, we improved our margin by 12 basis points, reflecting the success of the balance sheet restructuring that we completed last quarter. With banking margins shrinking over the past ten years, we feel that opportunities exist to increase our non-interest income. We will continue our focus on profitable loan growth, fee income opportunities, margin improvement, and operating efficiencies, all of which should enable Rurban to continue to make earnings progress.”

Non-interest income, largely derived from RDSI, has become increasingly more important as a contributor to net income growth. Non-interest income currently accounts for 65.2 percent of total revenue compared with 56.4 percent for the year-ago quarter. Rurban reported $1.7 million or 34.6 percent growth in non-interest income this quarter, increasing to $6.7 million from $5.0 million a year earlier. Compared with the previous quarter, however, non-interest income declined $837,000 or 11.1 percent, largely from one-time revenue items totaling $1.2 million in the fourth quarter of

2006. Excluding these items, non-interest income increased 4.8 percent above fourth quarter (19.2 percent annualized).

The provision for loan losses was $93,000 compared with $246,000 taken in the first quarter 2006. Net charge-offs were minimal at $41,000 during the quarter.

Non-interest expense was $9.3 million for the first quarter of 2007, up $1.4 million or 17.3 percent from the year-earlier quarter. Included in the first quarter 2007 operating results are $1.0 million of DCM operating expense. The acquisition of DCM took place in September 2006, so there were no corresponding DCM expenses in the first quarter, 2006. First quarter 2007 expenses also included $95,000 of one-time merger-related expense. Excluding the DCM operating and one-time merger-related expenses, non-interest expense increased $255,000 or 3.2% to $8.2 million for the first quarter of 2007 most of which was expense increases at RDSI.

Compared with the linked quarter, non-interest expense in the 2007 first quarter was lower by $1.1 million, or 10.2 percent. Reductions in Compensation (Severance payments), Benefits (healthcare), Professional fees (litigation), and FHLB prepayment penalties were all contributors to the quarter-over-quarter decrease. Consolidation of banking activities resulted in the elimination of approximately 25 full-time equivalent positions; greater savings should be forthcoming in future quarters since the reductions occurred late in the first quarter.

Rurban continues to be very well-capitalized. Stockholders’ equity at March 31, 2007 was $57.7 million, equivalent to 10.5 percent of total assets; on a tangible basis, the ratio was 7.0 percent. The total risk-based capital ratio was 15.9 percent, well in excess of the “well-capitalized” regulatory threshold of ten percent.

THE STATE BANK AND TRUST COMPANY

The newly consolidated State Bank and Trust Company reported net income of $707,000 for the quarter, compared with $534,000 for the prior-year quarter, an increase of $173,000 or 32.4 percent. Revenue for the Bank (net interest income plus non-interest income) was $6.5 million for the current quarter, a decline of $392,000, or 5.7 percent, from the year-earlier level of $6.9 million. This decline in revenue was offset by a $522,000 or 8.7 percent reduction in non-interest expenses. Mortgage banking continues to increase as loan servicing fees increased 25% for the first quarter of 2007 compared to first quarter 2006. The $93,000 in loan loss provision taken this quarter is a $153,000 reduction compared to the previous year quarter this also contributed to the Bank’s improvement in earnings growth.

Year-over-year, average assets increased $13.0 million, or 2.5 percent. Loan growth over the past twelve months was approximately $36 million, or 10.5 percent, reaching $373.3 million at March 31, 2007; this growth was entirely organic. Nearly 62 percent of State Bank’s loan portfolio is commercial, and virtually all of the Bank’s growth was derived from this sector. Loan growth during the first quarter slowed, both from competitive factors and from the priority given to merger activities this past quarter. As of March 31, 2007, loans were $3.2 million higher than year-end, with commercial loan growth leading the way.

Mr. Joyce commented, “We anticipate improved net income from banking through greater savings from our streamlined organization and higher revenue from the new, higher growth markets we recently entered.”

ASSET QUALITY


Asset Quality	Mar.						Mar.
(dollars in thousands)	2007			Dec. 2006			2006
Net charge-offs / (Recoveries)	$	41		$	645		$	597
Net charge-offs (Ann.) / Avg. loans		0.04	%		0.70	%		0.72	%
Allowance for loan loss	$	3,769		$	3,717		$	4,349
Allowance for loan loss / Loans		1.01	%		1.00	%		1.29	%
Non-performing assets	$	4,112		$	3,910		$	8,833
NPA / Total assets		0.75	%		0.70	%		1.64	%

Non-performing assets (loans, OREO & OAO) were $4.1 million, or 0.75 percent of total assets on March 31, 2007, a decline of $4.7 million from twelve months ago and a nominal increase from the linked quarter. Net charge-offs for first quarter were a nominal $41,000, compared with the $597,000 in charge-offs taken in last year’s first quarter. The loan loss reserve now stands at 1.01 percent of period-end loans.

RURBANC DATA SERVICES, INC. (RDSI)

“We continue to see a solid pipeline of potential customers for both our data processing and item processing businesses as we enter 2007. RDSI signed three new client banks for data and item processing, with one bank converted in the first quarter. DCM’s clients are rapidly moving to remote capture and becoming Check 21 compliant,” stated Ken Joyce. Revenue for the quarter was $5.2 million, up $1.6 million or 41.7 percent above the $3.6 million reported for the first quarter of 2006. Of this increase, $1.1 million resulted from DCM, which RDSI acquired in September 2006, and the remainder was derived from new RDSI customers and new products purchased by RDSI’s customer base. RDSI now services over 100 community banks, accounting for 92.2% of Rurban’s fee growth over the past twelve months. Earnings for the first quarter were $690,000 compared to $548,000 for the year-ago quarter, up $142,000 or 25.9%.

About Rurban Financial Corp.

Rurban Financial Corp. is a publicly-held financial services holding company based in Defiance, Ohio. Rurban’s wholly-owned subsidiaries are The State Bank and Trust Company including Reliance Financial Services, Rurbanc Data Services, Inc. (RDSI), and DCM. The community bank offers financial services through its 18 branches in Allen, Defiance, Fulton, Lucas, Paulding and Wood Counties, Ohio and Allen County, Indiana. Reliance Financial Services offers a diversified array of trust and financial services to customers throughout the Midwest. RDSI and DCM provide data and item processing services to community banks in Arkansas, Florida, Illinois, Indiana, Michigan, Missouri, Ohio and Wisconsin. Rurban’s common stock is quoted on the Nasdaq Global Market under the symbol RBNF. The Company currently has 10,000,000 shares of stock

authorized and 5,027,433 shares outstanding. The Company’s website is http://www.rurbanfinancial.net.

Forward-Looking Statements

Certain statements within this document, which are not statements of historical fact, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and actual results may differ materially from those predicted by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties inherent in the national and regional banking, insurance and mortgage industries, competitive factors specific to markets in which Rurban and its subsidiaries operate, future interest rate levels, legislative and regulatory actions, capital market conditions, general economic conditions, geopolitical events, the loss of key personnel and other factors.

Forward-looking statements speak only as of the date on which they are made, and Rurban undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made. All subsequent written and oral forward-looking statements attributable to Rurban or any person acting on our behalf are qualified by these cautionary statements.

RURBAN FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
March 31, 2007 and December 31, 2006


	March			December			March
	2007			2006			2006
	(Unaudited)						(Unaudited)
ASSETS
Cash and due from banks	$	10,627,291		$	13,381,791		$	12,289,142
Federal funds sold		6,500,000			9,100,000			4,228,000

Cash and cash equivalents		17,127,291			22,481,791			16,517,142
Interest-earning deposits in other financial institutions		150,000			150,000			150,000
Available-for-sale securities		97,148,409			102,462,075			130,124,716
Loans held for sale		110,697			390,100			40,000
Loans, net of unearned income		373,293,814			370,101,809			337,729,277
Allowance for loan losses		(3,768,814	)		(3,717,377	)		(4,348,541	)
Premises and equipment, net		15,912,493			15,449,774			14,017,625
Purchased software		4,482,113			4,618,691			4,498,803
Federal Reserve and Federal Home Loan Bank Stock		4,040,700			3,993,450			3,649,400
Foreclosed assets held for sale, net		9,400			82,397			2,383,852
Accrued interest receivable		2,820,915			3,129,774			2,766,999
Goodwill		13,690,092			13,674,058			8,805,347
Core deposits and other intangibles		5,683,598			5,858,982			3,625,573
Cash value of life insurance		10,861,017			10,771,843			10,528,528
Other assets		7,323,829			6,559,886			7,712,506


Total assets	$	548,885,554		$	556,007,253		$	538,201,227


LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities
Deposits
Demand	$	43,759,627		$	46,565,554		$	45,380,636
Savings, interest checking and money market		136,754,887			130,267,333			129,111,866
Time		232,078,426			237,722,558			224,033,626

Total deposits		412,592,940			414,555,445			398,526,128
Notes payable		2,515,911			2,589,207			—
Advances from Federal Home Loan Bank		17,500,000			21,000,000			43,500,000
Repurchase Agreements		30,827,195			32,270,900			15,403,500
Trust preferred securities		20,620,000			20,620,000			20,620,000
Accrued interest payable		2,233,625			2,224,413			1,486,845
Other liabilities		4,884,579			5,792,135			4,612,822


Total liabilities		491,174,250			499,052,100			484,149,295

Shareholders’ Equity
Common stock,$2.50 stated value; authorized 10,000,000 shares; 5,027,433 shares outstanding		12,568,583			12,568,583			12,568,583
Additional paid-in capital		14,872,424			14,859,165			14,841,050
Retained earnings		30,808,105			30,407,298			28,973,991
Accumulated other comprehensive loss		(537,808	)		(879,893	)		(2,331,692	)


Total shareholders’ equity		57,711,304			56,955,153			54,051,932


Total liabilities and shareholders’ equity	$	548,885,554		$	556,007,253		$	538,201,227

RURBAN FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME — UNAUDITED
For The First Quarter Ended March 31, 2007 and Fourth Quarter Ended December 31, 2006


	First Quarter		Fourth Quarter			Increase/(Decrease)
	2007		2006			$
Interest income
Loans
Taxable	$	6,676,813	$	6,720,398		$	(43,585	)
Tax-exempt		17,293		17,638			(345	)
Securities
Taxable		1,091,197		1,258,234			(167,037	)
Tax-exempt		153,057		149,172			3,885
Other		78,468		77,726			742

Total interest income		8,016,828		8,223,168			(206,340	)

Interest expense
Deposits		3,333,730		3,326,774			6,956
Other borrowings		51,072		51,910			(838	)
Repurchase Agreements		343,849		382,717			(38,868	)
Federal Home Loan Bank advances		249,587		421,970			(172,383	)
Trust preferred securities		445,314		455,408			(10,094	)

Total interest expense		4,423,552		4,638,779			(215,227	)


Net interest income		3,593,276		3,584,389			8,887

Provision for loan losses		92,640		(159,483	)		252,123


Net interest income after provision for loan losses		3,500,636		3,743,872			(243,236	)

Non-interest income
Data service fees		4,834,136		4,698,386			135,750
Trust fees		826,382		830,898			(4,516	)
Customer service fees		528,424		525,881			2,543
Net gain on sales of loans		54,279		833,315			(779,036	)
Net realized gains (losses) on sales of available-for-sale securities		—		(494,885	)		494,885
Investment securities recoveries		—		889,454			(889,454	)
Loan servicing fees		108,706		118,476			(9,770	)
Gain (loss) on sale of assets		35,967		8,852			27,115
Other income		350,848		165,637			185,211

Total non-interest income		6,738,742		7,576,014			(837,272	)

Non-interest expense
Salaries and employee benefits		4,396,787		4,677,237			(280,450	)
Net occupancy expense		527,133		506,142			20,991
Equipment expense		1,605,873		1,681,747			(75,874	)
Data processing fees		156,181		159,604			(3,423	)
Professional fees		677,391		870,464			(193,073	)
Marketing expense		155,685		132,787			22,898
Printing and office supplies		198,092		165,990			32,102
Telephone and communication		445,204		427,554			17,650
Postage and delivery expense		392,261		337,993			54,268
State, local and other taxes		199,741		161,523			38,218
Employee expense		255,069		233,491			21,578
FHLB prepaymemt penalties		—		214,886			(214,886	)
Other expenses		290,836		789,587			(498,751	)

Total non-interest expense		9,300,253		10,359,005			(1,058,752	)


Income before income tax expense		939,125		960,881			(21,756	)
Income tax expense		236,672		250,448			(13,776	)


Net income	$	702,453	$	710,433		$	(7,980	)


Earnings per common share:
Basic	$	0.14	$	0.14		$	(0.00	)

Diluted	$	0.14	$	0.14		$	(0.00	)


Average diluted shares outstanding		5,027,613		5,027,440

RURBAN FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME — UNAUDITED
For The Three Months Ended March 31, 2007 and 2006


	Three Months		Three Months			Increase/(Decrease)
	2007		2006			$
Interest income
Loans
Taxable	$	6,676,813	$	5,554,154		$	1,122,659
Tax-exempt		17,293		12,235			5,058
Securities
Taxable		1,091,197		1,312,600			(221,403	)
Tax-exempt		153,057		131,833			21,224
Other		78,468		36,267			42,201

Total interest income		8,016,828		7,047,089			969,739

Interest expense
Deposits		3,333,730		2,121,214			1,212,516
Other borrowings		51,072		26,299			24,773
Retail Repurchase Agreements		343,849		124,277			219,572
Federal Home Loan Bank advances		249,587		482,821			(233,234	)
Trust preferred securities		445,314		428,422			16,892

Total interest expense		4,423,552		3,183,033			1,240,519


Net interest income		3,593,276		3,864,056			(270,780	)

Provision for loan losses		92,640		246,000			(153,360	)


Net interest income after provision for loan losses		3,500,636		3,618,056			(117,420	)

Non-interest income
Data service fees		4,834,136		3,241,134			1,593,002
Trust fees		826,382		815,451			10,931
Customer service fees		528,424		550,067			(21,643	)
Net gain on sales of loans		54,279		61,046			(6,767	)
Loan servicing fees		108,706		86,694			22,012
Gain (loss) on sale of assets		35,967		(19,126	)		55,093
Other income		350,848		273,034			77,814

Total non-interest income		6,738,742		5,008,300			1,730,442

Non-interest expense
Salaries and employee benefits		4,396,787		3,857,734			539,053
Net occupancy expense		527,133		439,948			87,185
Equipment expense		1,605,873		1,375,828			230,045
Data processing fees		156,181		136,590			19,591
Professional fees		677,391		519,365			158,026
Marketing expense		155,685		126,448			29,237
Printing and office supplies		198,092		152,984			45,108
Telephone and communication		445,204		402,367			42,837
Postage and delivery expense		392,261		131,994			260,267
State, local and other taxes		199,741		133,858			65,883
Employee expense		255,069		249,388			5,681
Other expenses		290,836		423,527			(132,691	)

Total non-interest expense		9,300,253		7,950,031			1,350,222


Income before income tax expense		939,125		676,325			262,800
Income tax expense		236,672		153,780			82,892


Net income	$	702,453	$	522,545		$	179,908


Earnings per common share:
Basic	$	0.14	$	0.10		$	0.04

Diluted	$	0.14	$	0.10		$	0.04


Average diluted shares outstanding		5,027,613		5,028,183

Rurban Financial Corp.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Unaudited)


	1st Qtr			4th Qtr			1st Qtr
(dollars in thousands except per share data)	2007			2006			2006
EARNINGS
Net interest income	$	3,593		$	3,584		$	3,864
Provision for loan loss	$	93		$	(159	)	$	246
Non-interest income	$	6,739		$	7,576		$	5,008
Revenue (net interest income plus non-interest income)	$	10,332		$	11,160		$	8,872
Non-interest expense	$	9,300		$	10,359		$	7,950
Net income (loss)	$	702		$	710		$	523

PER SHARE DATA
Basic earnings per share	$	0.14		$	0.14		$	0.10
Diluted earnings per share	$	0.14		$	0.14		$	0.10
Book value per share	$	11.48		$	11.33		$	10.75
Tangible book value per share	$	7.69		$	7.58		$	8.28
Cash dividend per share	$	0.06		$	0.06		$	0.05

PERFORMANCE RATIOS
Return on average assets		0.51	%		0.50	%		0.39	%
Return on average equity		4.91	%		5.08	%		3.86	%
Net interest margin (tax equivalent)		3.04	%		2.92	%		3.37	%
Non-interest expense / Average assets		6.71	%		7.27	%		5.95	%
Efficiency Ratio — bank (non-GAAP)		87.20	%		94.85	%		88.99	%

MARKET DATA PER SHARE
Market value per share — Period end	$	11.84		$	10.77		$	12.42
Market as a % of book		1.03			0.95			1.16
Cash dividend yield		2.03	%		2.23	%		1.61	%
Period-end common shares outstanding (000)		5,027			5,027			5,027
Common stock market capitalization ($000)	$	59,525		$	54,145		$	62,441

CAPITAL & LIQUIDITY
Equity to assets		10.5	%		10.2	%		10.0	%
Period-end tangible equity to assets		7.0	%		6.9	%		7.7	%
Tier 1 risk-based capital ratio		14.8	%		14.9	%		17.3	%
Total risk-based capital ratio		15.9	%		16.0	%		18.9	%

ASSET QUALITY
Net charge-offs / (Recoveries)	$	41		$	645		$	597
Net loan charge-offs (Ann.) / Average loans		0.04	%		0.70	%		0.72	%
Non-performing loans	$	4,103		$	3,828		$	6,031
OREO / OAOs	$	9		$	82		$	2,802
Non-performing assets	$	4,112		$	3,910		$	8,833
Non-performing assets / Total assets		0.75	%		0.70	%		1.64	%
Allowance for loan losses / Total loans		1.01	%		1.00	%		1.29	%
Allowance for loan losses / Non-performing Assets		91.6	%		95.1	%		49.2	%

END OF PERIOD BALANCES
Total loans, net of unearned income	$	373,294		$	370,102		$	337,729
Allowance for loan loss	$	3,769		$	3,717		$	4,349
Total assets	$	548,886		$	556,007		$	538,201
Deposits	$	412,593		$	414,555		$	398,526
Stockholders’ equity	$	57,711		$	56,955		$	54,052
Full-time equivalent employees		294			317			275

AVERAGE BALANCES
Loans	$	371,724		$	370,687		$	331,711
Total earning assets	$	484,110		$	502,530		$	474,087
Total assets	$	554,631		$	569,807		$	534,371
Deposits	$	415,887		$	415,576		$	392,323
Stockholders’ equity	$	57,192		$	55,963		$	54,251

Rurban Financial Corp.
Segment Reporting
Three Months Ended March 31, 2007


				RFCBC
				(Loan
	State Bank			Workout			Total			Data
	and Trust			Company)			Banking			Processing
*Income Statement Measures*
Interest Income	$	8,070		$	1		$	8,071		$	—
Interest Expense		3,940			—			3,940			94
Net Interest Income		4,130			1			4,131			(94	)
Provision For Loan Loss		100			(7	)		93			—
Non-interest Income		2,416			—			2,416			5,249
Non-interest Expense		5,495			214			5,709			4,109
Net Income Before Taxes		951			(206	)		745			1,046
Income Taxes		244			(70	)		174			356
Net Income YTD	$	707		$	(136	)	$	571		$	690

*Performance Measures*
Average Assets — YTD	$	534,629		$	1,914		$	536,543		$	20,217
ROAA		0.53	%		—			0.43	%		13.65	%
Average Equity — YTD	$	54,828		$	1,502		$	56,330		$	13,378
ROAE		5.16	%		—			4.05	%		20.63	%
Efficiency Ratio — %		83.94	%		—			87.20	%		79.71	%
Average Loans — YTD	$	373,586		$	614		$	374,200		$	—
Average Deposits — YTD	$	424,355		$	—		$	424,355		$	—


	Parent						Rurban
	Company			Elimination			Financial
	and Other			Entries			Corp.
*Income Statement Measures*
Interest Income	$	1		$	(55	)	$	8,017
Interest Expense		445			(55	)		4,424
Net Interest Income		(444	)		—			3,593
Provision For Loan Loss		—						93
Non-interest Income		328			(1,254	)		6,739
Non-interest Expense		736			(1,254	)		9,300
Net Income Before Taxes		(852	)		—			939
Income Taxes		(293	)		—			237
Net Income YTD	$	(559	)	$	—		$	702

*Performance Measures*
Average Assets — YTD	$	79,251		$	(81,380	)	$	554,631
ROAA		—			—			0.51	%
Average Equity — YTD	$	57,192		$	(69,708	)	$	57,192
ROAE		—			—			4.91	%
Efficiency Ratio — %		—			—			90.01	%
Average Loans — YTD	$	—		$	(2,476	)	$	371,724
Average Deposits — YTD	$	—		$	(8,468	)	$	415,887

Rurban Financial Corp.
Proforma Performance Measurement
Quarterly Comparison — First Quarter 2007


				RFCBC
				(Loan			Banking
	State Bank			Workout			Related
	and Trust			Company)			Entities			RDSI
*Average Assets*
1Q07	$	534,629		$	1,914		$	536,543		$	20,217
4Q06	$	549,777		$	2,178		$	551,955		$	19,695
3Q06	$	549,931		$	2,451		$	552,382		$	14,442
2Q06	$	532,027		$	5,477		$	537,504		$	13,368
1Q06	$	521,586		$	6,675		$	528,261		$	11,579
1st Quarter Comparison	$	13,043		$	(4,761	)	$	8,282		$	8,638

*Revenue*
1Q07	$	6,546		$	1		$	6,547		$	5,155
4Q06	$	7,233		$	124		$	7,357		$	4,944
3Q06	$	7,207		$	3		$	7,210		$	4,085
2Q06	$	6,917		$	85		$	7,002		$	3,632
1Q06	$	6,938		$	93		$	7,031		$	3,637
1st Quarter Comparison	$	(392	)	$	(92	)	$	(484	)	$	1,518

*Non-interest Expenses*
1Q07	$	5,495		$	215		$	5,710		$	4,109
4Q06	$	6,635		$	278		$	6,913		$	4,026
3Q06	$	5,784		$	161		$	5,945		$	3,375
2Q06	$	5,573		$	307		$	5,880		$	2,949
1Q06	$	6,017		$	174		$	6,191		$	2,807
1st Quarter Comparison	$	(522	)	$	41		$	(481	)	$	1,302

*Net Income*
1Q07	$	707		$	(136	)	$	571		$	690
4Q06	$	569		$	(89	)	$	480		$	606
3Q06	$	872		$	(82	)	$	790		$	478
2Q06	$	888		$	(109	)	$	779		$	451
1Q06	$	534		$	(54	)	$	480		$	548
1st Quarter Comparison	$	173		$	(82	)	$	91		$	142

*Efficiency Ratio*
1Q07		83.95	%					87.22	%		79.71	%
4Q06		91.73	%					93.96	%		81.43	%
3Q06		80.26	%					82.45	%		82.62	%
2Q06		80.57	%					83.98	%		81.19	%
1Q06		86.73	%					88.05	%		77.18	%
1st Quarter Comparison		(2.78	%)					(0.84	%)		2.53	%

*NPA/Total Assets*
1Q07		0.66	%
4Q06		0.61	%
3Q06		0.90	%
2Q06		0.86	%
1Q06		0.88	%
1st Quarter Comparison		(0.22	%)

*ROAA*
1Q07		0.53	%					0.43	%		13.65	%
4Q06		0.41	%					0.35	%		12.31	%
3Q06		0.63	%					0.57	%		13.24	%
2Q06		0.67	%					0.58	%		13.49	%
1Q06		0.41	%					0.36	%		18.93	%
1st Quarter Comparison		0.12	%					0.06	%		(5.28	%)

*ROAE*
1Q07		5.16	%					4.05	%		20.63	%
4Q06		4.20	%					3.43	%		19.06	%
3Q06		6.72	%					5.83	%		21.26	%
2Q06		6.95	%					5.52	%		21.38	%
1Q06		3.97	%					3.16	%		31.59	%
1st Quarter Comparison		1.19	%					0.90	%		(10.96	%)

Average Equity
1Q07	$	54,828		$	1,502		$	56,330		$	13,378
4Q06	$	54,249		$	1,714		$	55,963		$	12,721
3Q06	$	51,917		$	2,261		$	54,178		$	8,995
2Q06	$	51,093		$	5,393		$	56,486		$	8,437
1Q06	$	53,824		$	7,001		$	60,825		$	6,938
1st Quarter Comparison	$	1,004		$	(5,499	)	$	(4,495	)	$	6,440


	Parent			Intersegment			Rurban
	Company and			Elimination			Financial
	Other			Entries			Corp.
*Average Assets*
1Q07	$	79,251		$	(81,380	)	$	554,631
4Q06	$	78,234		$	(80,077	)	$	569,807
3Q06	$	75,666		$	(89,023	)	$	553,465
2Q06	$	74,679		$	(80,477	)	$	545,074
1Q06	$	78,705		$	(84,175	)	$	534,370
1st Quarter Comparison	$	546					$	20,261

*Revenue*
1Q07	$	(116	)	$	(1,254	)	$	10,332
4Q06	$	247		$	(1,388	)	$	11,160
3Q06	$	(219	)	$	(1,417	)	$	9,659
2Q06	$	(163	)	$	(1,373	)	$	9,098
1Q06	$	(129	)	$	(1,667	)	$	8,872
1st Quarter Comparison	$	13					$	1,460

*Non-interest Expenses*
1Q07	$	736		$	(1,254	)	$	9,301
4Q06	$	822		$	(1,402	)	$	10,359
3Q06	$	612		$	(1,417	)	$	8,515
2Q06	$	625		$	(1,374	)	$	8,080
1Q06	$	622		$	(1,670	)	$	7,950
1st Quarter Comparison	$	114					$	1,351

*Net Income*
1Q07	$	(559	)				$	702
4Q06	$	(376	)				$	710
3Q06	$	(454	)				$	814
2Q06	$	(516	)				$	714
1Q06	$	(505	)				$	523
1st Quarter Comparison	$	(54	)				$	179

*Efficiency Ratio*
1Q07								90.04	%
4Q06								92.82	%
3Q06								88.16	%
2Q06								88.81	%
1Q06								89.61	%
1st Quarter Comparison								0.43	%

*NPA/Total Assets*
1Q07								0.75	%
4Q06								0.70	%
3Q06								1.07	%
2Q06								1.07	%
1Q06								1.64	%
1st Quarter Comparison								(0.89	%)

*ROAA*
1Q07								0.51	%
4Q06								0.50	%
3Q06								0.59	%
2Q06								0.52	%
1Q06								0.39	%
1st Quarter Comparison								0.11	%

*ROAE*
1Q07								4.91	%
4Q06								5.08	%
3Q06								5.95	%
2Q06								5.28	%
1Q06								3.86	%
1st Quarter Comparison								1.05	%

Average Equity
1Q07	$	57,192		$	(69,708	)	$	57,192
4Q06	$	55,963		$	(68,684	)	$	55,963
3Q06	$	54,702		$	(63,173	)	$	54,702
2Q06	$	54,039		$	(64,923	)	$	54,039
1Q06	$	54,251		$	(67,763	)	$	54,251
1st Quarter Comparison	$	2,941					$	2,941