EX-99.1

Exhibit 99.1

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

RURBAN FINANCIAL CORP. REPORTS 14.3% INCREASE IN
SECOND QUARTER EARNINGS PER SHARE

DEFIANCE, Ohio, July 18, 2007 (PRIME NEWSWIRE) — Rurban Financial Corp. (NASDAQ: RBNF), a leading provider of full-service community banking, investment management, trust services and bank data processing, reported second quarter 2007 net income of $785,000, an increase of 10.0 percent over the $714,000 reported for the second quarter of 2006. Diluted earnings per share increased 14.3 percent to $0.16 from $0.14 reported for the prior-year period. Compared with the first quarter of 2007, net income and diluted earnings per share increased by 11.8 and 14.3 percent, respectively.

For the six months ended June 30, 2007 Rurban reported net income of $1,487,000 up $251,000, or 20.3 percent, compared to $1,236,000 reported for the six months ended June 2006. Diluted earnings per share were $0.30 for the current year, up 20.0 percent from the $0.25 reported for the prior year.

Highlights include:

	•		Rurban implemented the final steps of its reorganization plan toward the end of the first quarter 2007. Therefore, this represents Rurban’s first reporting quarter as a completely restructured entity, with all bank activities merged into The State Bank and Trust Company; RDSI, the data and item processing company, remains a stand-alone data processing subsidiary of the holding company.

	•		The reorganization had a $0.02 positive impact on earnings per share in second quarter performance through improvements due to consolidation; second quarter ROAA was 57 basis points compared with 51 basis points for the first quarter of 2007.

	•		Rurban’s net interest margin increased for a second consecutive quarter. The margin improved to 3.19 percent for the current quarter from 3.04 percent for the first quarter of 2007; the margin for State Bank and Trust was 3.56 percent for the second quarter.

	•		Loan growth accelerated during the second quarter of 2007 increasing $8.4 million, or 9 percent annualized, from March 31, 2007. Year-to-date loan growth was $11.6 million across all loan categories.

	•		Non-interest income continued to be a substantial contributor to Rurban’s revenue stream, increasing 23.5 percent from the prior year to $6.5 million, and accounting for 63.4 percent of total revenue. RDSI revenue increased 36.3 percent year-over-year to $4.9 million primarily due to the acquisition of DCM in the third quarter of 2006.

	•		On April 12, 2007, Rurban initiated a stock repurchase program, authorizing the repurchase of up to 250,000 shares or approximately 5 percent of the Company’s outstanding shares. As of the end of the second quarter, Rurban repurchased 12,000 shares at an average cost of $12.43

Kenneth A. Joyce, President and Chief Executive Officer, commented, “We are making steady progress toward our goals. With a simplified, more transparent organization, we are able to focus more clearly on the issues that require attention, as can our investors. We know there are still many areas for improvement, but I believe we have addressed most of the major factors that have been a drag on our operations and profitability. We have the right team in place to lead our organization to the next level of profitability and growth, and we are already making progress along that path. We look forward to continuing improvement of our fundamental measurements.”

CONSOLIDATED OPERATIONS


Earnings (Three months ended)	June 2007		Mar. 2007		Dec. 2006			June 2006
	(Dollars in thousands except per share data)
Net interest income	$	3,751	$	3,593	$	3,584		$	3,830
Provision (credit) for loan losses		146		93		(159	)		56
Non-interest income		6,508		6,739		7,576			5,268
Non-interest expense		9,065		9,300		10,359			8,080
Net income (loss)		785		702		710			714
Diluted EPS	$	0.16	$	0.14	$	0.14		$	0.14

Total revenue, consisting of net interest income plus non-interest income, was $10.3 million for the second quarter of 2007, compared with $9.1 million for the prior-year second quarter, an increase of $1.2 million, or 12.8 percent. Compared with the first quarter of this year, total revenue was basically unchanged as the first quarter had significant non-interest income generated by RDSI for year-end processing. Net interest income was $3.8 million in the current quarter, a decrease of $80,000, or 2.1 percent, from the 2006 second quarter, and an increase of $157,000, or 4.4 percent, from the $3.6 million reported for the first quarter of this year. Year-over-year results reflect a 1.1 percent decrease in average earning assets, coupled with a 6 basis point decline in net interest margin, to 3.19 percent this quarter. The linked quarter reflects a 15 basis point improvement in the net interest margin, partially offset by a 0.4 percent decline in average earning assets. Mr. Joyce remarked, “We are reaping the benefits of our balance sheet restructuring that we completed in the fourth quarter of 2006. This quarter marked our second consecutive quarter of margin expansion, resulting in an improvement in net interest margin of 27 basis points since year-end.”

Non-interest income, derived primarily from RDSI, is an increasingly significant contributor to Rurban’s revenue stream, accounting for 63.4 percent of total revenue for the second quarter of 2007, compared with 57.9 percent for the year-ago quarter. Non-interest income grew $1.2 million, or 23.5 percent, increasing to $6.5 million from $5.3 million a year earlier. The acquisition of DCM in the third quarter of 2006 was the primary driver of this 23.5 percent increase. Gain on sale of loans likewise contributed to the year-over-year increase as mortgage banking continues to show progress in a very difficult market environment. Compared to the first quarter, non-interest income declined by $231,000, or 3.4 percent. This quarterly decrease is largely due to one-time fee income opportunities recorded in the first quarter on previously charged-off loans and end of year processing fees.

The provision for loan losses was $146,000 compared with $56,000 for the second quarter of 2006, and $93,000 for the first quarter of 2007.

Non-interest expense was $9.1 million for the second quarter of 2007, up $985,000, or 12.2 percent, from the year-ago quarter. The increase was due to the acquisition of DCM, which recorded $1.0 million in expenses in the second quarter of 2007. In comparison to first quarter, operating expenses decreased $235,000, or 2.5 percent, despite additional expense within the data processing segment. Salaries and benefit expense declined by nearly 5 percent due to the Company’s efforts to reduce staff through the consolidation of its back office and other operational activities following the merger of The Exchange Bank into The State Bank and Trust Company in the first quarter. At quarter-end, Rurban had 285 FTE employees, 32 fewer than year-end 2006. Mr. Joyce stated, “Our goal is to provide the same high quality service with a greater focus on technology efficiencies and resulting profitability.”

Rurban continues to be very well capitalized. Stockholders’ equity at June 30, 2007 was $57.3 million, equivalent to 10.5 percent of total assets; on a tangible basis, the ratio was 7.1 percent. The total risk-based capital ratio was 16.1 percent, well in excess of the “well-capitalized” regulatory threshold of 10 percent.

THE STATE BANK AND TRUST COMPANY

The State Bank and Trust Company reported net income of $917,000 for the quarter, compared with $888,000 for the prior-year quarter, an increase of 3.3 percent. Compared with the first quarter of 2007, income increased $210,000 or 29.7 percent. Revenue for the Bank (net interest income plus non-interest income) was $6.1 million for the current quarter, a decline of $91,000, or 1.5 percent, from the year earlier level of $6.2 million. Revenue increased $106,000, or 1.8 percent, from the linked quarter’s results. Non-interest expense decreased $165,000 to $4.7 million for the current quarter compared to $4.9 million for the second quarter of 2006. This decrease was driven by the operating efficiencies completed at the end of the first quarter. Operating Expenses decreased despite the opening of a new full service branch and increased expenses to create branding and market awareness within our branching network. Non-interest expense decreased $261,000 in the second quarter of 2007 compared to the first quarter of 2007. Mr. Joyce stated, “We are starting to see several of our strategic initiatives mature within our banking group. Our entry into the Lima, Toledo and Fort Wayne markets are starting to provide nice growth opportunities and we feel we have them structured correctly.”

Loan growth over the past twelve months was $21.5 million, or 5.6 percent, reaching $383.5 million at June 30, 2007. After a steady but slow first quarter resulting from competitive factors and the priority given to consolidation activities, loan growth rebounded during the second quarter of 2007, growing at an annualized 8.9 percent, and accounting for nearly 40 percent of the year-over-year increase in loans. Commercial and Industrial loans contributed more than half of second quarter loan growth, accounting for $5.0 million of the increase, and raising their share in the portfolio to 20.2 percent, from 19.4 percent at March 31, 2007. Real estate loans accounted for the remainder of the growth, increasing $4.4 million to $269.4 million at quarter-end. Rurban’s portfolio continues to lean toward real estate secured lending, which accounted for 70.5 percent of loans at June 30, 2007. Year-over-year, assets declined $17.4 million, or 3.19 percent, due to the $17 million balance sheet restructuring completed in the fourth quarter of 2006.

Deposits at quarter-end were $407.6 million, up $6.6 million, or 1.7 percent, from the second quarter of 2006, and down $5.0 million from $412.6 million at March 31, 2007. The decrease from the previous quarter resulted from Rurban’s effort to reduce high-cost deposits; retail and brokered time deposits decreased $6.5 million during the quarter, while low-cost deposits – checking, savings, and money market accounts – increased minimally.

ASSET QUALITY


Asset Quality (Three months ended)	June 2007			Dec. 2006			June 2006
	(dollars in thousands)
Net charge-offs / (Recoveries)	$	90		$	645		$	(33	)
Net charge-offs (Ann.) / Avg. loans		0.09	%		0.70	%		(0.04	%)
Allowance for loan loss	$	3,824		$	3,717		$	4,438
Allowance for loan loss / Loans		1.00	%		1.00	%		1.23	%
Non-performing assets	$	5,997		$	3,910		$	5,909
NPA / Total assets		1.09	%		0.70	%		1.07	%

Non-performing assets (loans + OREO + OAO) were $6.0 million, or 1.09 percent of total assets at quarter-end 2007, an increase of $88,000 from twelve months ago, and an increase of $1.9 million from the first quarter. Mr. Joyce commented, “We had three commercial facilities which comprised the majority of the increase in our non-performing assets, including one that was called due and declared in default due to persistent delinquency problems. We believe we are adequately reserved for any resultant losses, if any.” Net charge-offs for the second quarter were $90,000, compared with a net recovery of $33,000 in the second quarter of 2006 for a net charge-off to average loans of 0.07 percent for the first half of 2007. The loan loss reserve remains at 1.00 percent of period-end loans.

RFCBC (Loan Workout Company)

RFCBC continues to phase out as the one loan relationship that remains is in foreclosure status. RFCBC recorded a loss of $87,000 for the quarter compared to $109,000 for the previous year quarter. The majority of the cost within the workout company remains to be legal cost associated with the remaining loans in litigation status. RFCBC has no employees, as the remaining workout relationships are being managed by a part-time consultant.

RURBANC DATA SERVICES, INC (RDSI)

Revenue for the quarter was $4.9 million, up $1.3 million, or 36.3 percent, above the $3.6 million reported for the second quarter of 2006. Compared with the linked quarter, revenue decreased by $206,000, or 4.0 percent; excluding the $180,000 of year-end processing fees included in the first quarter, second quarter revenue was essentially unchanged. RDSI’s strong organic growth from its existing customer base was supplemented by the addition of DCM customers. Rurban completed the acquisition of DCM in the third quarter of 2006. RDSI continues to add new clients; during the second quarter of 2007, it signed three new data processing clients and three new item processing clients. RDSI has seven conversions scheduled between now and the end of the year. Currently,

RDSI services over 106 community banks, contributing to over 77.5 percent of Rurban’s non-interest income year-to-date.

Earnings for the second quarter were $476,000 compared to $451,000 for the year-ago quarter, up $25,000, or 5.5 percent; on a linked quarter basis, second quarter net income declined by $214,000, or 31.0 percent. RDSI’s first quarter results include $180,000 of end of year processing, as well as other one-time revenue items totaling $40,000.

About Rurban Financial Corp.

Rurban Financial Corp. is a publicly-held financial services holding company based in Defiance, Ohio with assets of $548.2 million as of June 30, 2007. 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 5,015,433 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
June 30, 2007 and December 31, 2006


	June			December
	2007			2006
	(Unaudited)
ASSETS
Cash and due from banks	$	12,120,732		$	13,381,791
Federal funds sold		—			9,100,000

Cash and cash equivalents		12,120,732			22,481,791
Interest-earning deposits in other financial institutions		—			150,000
Available-for-sale securities		93,376,749			102,462,075
Loans held for sale		389,900			390,100
Loans, net of unearned income		381,661,661			370,101,809
Allowance for loan losses		(3,824,445	)		(3,717,377	)
Premises and equipment, net		15,710,869			15,449,774
Purchased software		4,639,198			4,618,691
Federal Reserve and Federal Home Loan Bank Stock		4,040,700			3,993,450
Foreclosed assets held for sale, net		83,891			82,397
Accrued interest receivable		2,971,082			3,129,774
Goodwill		13,690,092			13,674,058
Core deposits and other intangibles		5,503,122			5,858,982
Cash value of life insurance		10,953,313			10,771,843
Other assets		6,883,346			6,559,886


Total assets	$	548,200,210		$	556,007,253


LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities
Deposits
Demand	$	41,255,495		$	46,565,554
Savings, interest checking and money market		140,774,725			130,267,333
Time		225,554,636			237,722,558

Total deposits		407,584,856			414,555,445
Notes payable		1,126,860			2,589,207
Advances from Federal Home Loan Bank		21,000,000			21,000,000
Fed Funds Purchased		1,000,000			—
Repurchase Agreements		33,116,993			32,270,900
Trust preferred securities		20,620,000			20,620,000
Accrued interest payable		2,121,446			2,224,413
Other liabilities		4,280,560			5,792,135


Total liabilities		490,850,715			499,052,100

Shareholders’ Equity
Common stock		12,568,583			12,568,583
Additional paid-in capital		14,882,083			14,859,165
Retained earnings		31,291,504			30,407,298
Accumulated other comprehensive loss		(1,243,475	)		(879,893	)
Treasury stock		(149,200	)		—


Total shareholders’ equity		57,349,495			56,955,153


Total liabilities and shareholders’ equity	$	548,200,210		$	556,007,253

RURBAN FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME — UNAUDITED
For The Second Quarter Ended June 30, 2007 and 2006


	Second Quarter		Second Quarter		Increase/(Decrease)
	2007		2006		$
Interest income
Loans
Taxable	$	6,976,506	$	6,043,057	$	933,449
Tax-exempt		17,250		15,157		2,093
Securities
Taxable		1,044,300		1,333,858		(289,558	)
Tax-exempt		160,845		136,570		24,275
Other		35,138		14,046		21,092

Total interest income		8,234,039		7,542,688		691,351

Interest expense
Deposits		3,381,667		2,556,180		825,487
Other borrowings		57,546		26,148		31,398
Retail Repurchase Agreements		351,833		159,276		192,557
Federal Home Loan Bank advances		242,658		533,845		(291,187	)
Trust preferred securities		450,197		436,776		13,421

Total interest expense		4,483,901		3,712,225		771,676


Net interest income		3,750,138		3,830,463		(80,325	)

Provision for loan losses		145,594		56,321		89,273


Net interest income after provision for loan losses		3,604,544		3,774,142		(169,598	)

Non-interest income
Data service fees		4,629,258		3,286,586		1,342,672
Trust fees		865,880		792,227		73,653
Customer service fees		533,209		542,687		(9,478	)
Net gain on sales of loans		174,168		71,664		102,504
Net realized gains on sales of available-for-sale securities		367		—		367
Loan servicing fees		89,432		117,785		(28,353	)
Gain on sale of assets		14,010		78,558		(64,548	)
Other income		201,376		378,745		(177,369	)

Total non-interest income		6,507,700		5,268,252		1,239,448

Non-interest expense
Salaries and employee benefits		4,185,324		3,795,252		390,072
Net occupancy expense		505,925		425,918		80,007
Equipment expense		1,676,676		1,347,634		329,042
Data processing fees		114,243		119,368		(5,125	)
Professional fees		501,015		524,902		(23,887	)
Marketing expense		187,098		242,498		(55,400	)
Printing and office supplies		181,362		173,361		8,001
Telephone and communication		437,690		407,648		30,042
Postage and delivery expense		384,091		122,267		261,824
State, local and other taxes		165,175		190,436		(25,261	)
Employee expense		280,078		260,523		19,555
Other expenses		446,693		470,068		(23,375	)

Total non-interest expense		9,065,370		8,079,875		985,495


Income before income tax expense		1,046,874		962,519		84,355
Income tax expense		261,829		248,996		12,833


Net income	$	785,045	$	713,523	$	71,522


Earnings per common share:
Basic	$	0.16	$	0.14	$	0.02

Diluted	$	0.16	$	0.14	$	0.02


Average diluted shares outstanding		5,030,441		4,569,316

RURBAN FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME — UNAUDITED
For The Three Months Ended June 30, 2007 and March 31, 2007


	Second Quarter		First Quarter		Increase/(Decrease)
	2007		2007		$
Interest income
Loans
Taxable	$	6,976,506	$	6,676,813	$	299,693
Tax-exempt		17,250		17,293		(43	)
Securities
Taxable		1,044,300		1,091,197		(46,897	)
Tax-exempt		160,845		153,057		7,788
Other		35,138		78,468		(43,330	)

Total interest income		8,234,039		8,016,828		217,211

Interest expense
Deposits		3,381,667		3,333,730		47,937
Other borrowings		57,546		51,072		6,474
Retail Repurchase Agreements		351,833		343,849		7,984
Federal Home Loan Bank advances		242,658		249,587		(6,929	)
Trust preferred securities		450,197		445,314		4,883

Total interest expense		4,483,901		4,423,552		60,349


Net interest income		3,750,138		3,593,276		156,862

Provision for loan losses		145,594		92,640		52,954


Net interest income after provision for loan losses		3,604,544		3,500,636		103,908

Non-interest income
Data service fees		4,629,258		4,834,136		(204,878	)
Trust fees		865,880		826,382		39,498
Customer service fees		533,209		528,424		4,785
Net gain on sales of loans		174,168		54,279		119,889
Net realized gains on sales of available-for-sale securities		367		—		367
Loan servicing fees		89,432		108,706		(19,274	)
Gain on sale of assets		14,010		35,967		(21,957	)
Other income		201,376		350,848		(149,472	)

Total non-interest income		6,507,700		6,738,742		(231,042	)

Non-interest expense
Salaries and employee benefits		4,185,324		4,396,787		(211,463	)
Net occupancy expense		505,925		527,133		(21,208	)
Equipment expense		1,676,676		1,605,873		70,803
Data processing fees		114,243		156,181		(41,938	)
Professional fees		501,015		677,391		(176,376	)
Marketing expense		187,098		155,685		31,413
Printing and office supplies		181,362		198,092		(16,730	)
Telephone and communication		437,690		445,204		(7,514	)
Postage and delivery expense		384,091		392,261		(8,170	)
State, local and other taxes		165,175		199,741		(34,566	)
Employee expense		280,078		255,069		25,009
Other expenses		446,693		290,836		155,857

Total non-interest expense		9,065,370		9,300,253		(234,883	)


Income before income tax expense		1,046,874		939,125		107,749
Income tax expense		261,829		236,672		25,157

Net income	$	785,045	$	702,453	$	82,592

Earnings per common share:
Basic	$	0.16	$	0.14	$	0.02


Diluted	$	0.16	$	0.14	$	0.02

Average diluted shares outstanding		5,030,441		5,027,613

RURBAN FINANCIAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME — UNAUDITED
For The Six Months Ended June 30, 2007 and 2006


	Six Months		Six Months		Increase/(Decrease)
	2007		2006		$
Interest income
Loans
Taxable	$	13,653,319	$	11,597,211	$	2,056,108
Tax-exempt		34,543		27,392		7,151
Securities
Taxable		2,135,497		2,646,459		(510,962	)
Tax-exempt		313,902		268,403		45,499
Other		113,606		50,312		63,294

Total interest income		16,250,867		14,589,777		1,661,090

Interest expense
Deposits		6,715,397		4,677,394		2,038,003
Other borrowings		108,618		52,447		56,171
Repurchase Agreements		695,682		283,553		412,129
Federal Home Loan Bank advances		492,245		1,016,666		(524,421	)
Trust preferred securities		895,511		865,198		30,313

Total interest expense		8,907,453		6,895,258		2,012,195


Net interest income		7,343,414		7,694,519		(351,105	)

Provision for loan losses		238,234		302,321		(64,087	)

Net interest income after provision for loan losses		7,105,180		7,392,198		(287,018	)

Non-interest income
Data service fees		9,463,394		6,527,720		2,935,674
Trust fees		1,692,262		1,607,678		84,584
Customer service fees		1,061,633		1,092,754		(31,121	)
Net gain on sales of loans		228,447		132,710		95,737
Net realized gains on sales of available-for-sale securities		367		—		367
Loan servicing fees		198,138		204,479		(6,341	)
Gain on sale of assets		49,977		59,432		(9,455	)
Other income		552,224		651,778		(99,554	)

Total non-interest income		13,246,442		10,276,551		2,969,891

Non-interest expense
Salaries and employee benefits		8,582,111		7,652,985		929,126
Net occupancy expense		1,033,058		865,867		167,191
Equipment expense		3,282,549		2,723,461		559,088
Data processing fees		270,424		255,958		14,466
Professional fees		1,178,406		1,044,267		134,139
Marketing expense		342,783		368,946		(26,163	)
Printing and office supplies		379,454		326,345		53,109
Telephone and communication		882,894		810,015		72,879
Postage and delivery expense		776,352		254,260		522,092
State, local and other taxes		364,916		324,293		40,623
Employee expense		535,147		509,912		25,235
Other expenses		737,529		893,597		(156,068	)

Total non-interest expense		18,365,623		16,029,906		2,335,717


Income before income tax expense		1,985,999		1,638,843		347,156
Income tax expense		498,501		402,775		95,726


Net income	$	1,487,498	$	1,236,068	$	251,430

Earnings per common share:
Basic	$	0.30	$	0.25	$	0.05

Diluted	$	0.30	$	0.25	$	0.05


Average diluted shares outstanding		5,026,893		5,029,338

Rurban Financial Corp.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Unaudited)


	2nd Qtr			YTD			2nd Qtr			YTD
(dollars in thousands except per share data)	2007			2007			2006			2006
EARNINGS
Net interest income	$	3,750		$	7,344		$	3,830		$	7,694
Provision for loan loss	$	146		$	238		$	56		$	302
Non-interest income	$	6,508		$	13,246		$	5,268		$	10,276
Revenue (net interest income plus non-interest income)	$	10,258		$	20,590		$	9,098		$	17,970
Non-interest expense	$	9,065		$	18,366		$	8,080		$	16,030
Net income (loss)	$	785		$	1,487		$	714		$	1,237

PER SHARE DATA
Basic earnings per share	$	0.16		$	0.30		$	0.14		$	0.25
Diluted earnings per share	$	0.16		$	0.30		$	0.14		$	0.25
Book value per share	$	11.43		$	11.43		$	10.75		$	10.75
Tangible book value per share	$	7.83		$	7.83		$	8.28		$	8.28
Cash dividend per share	$	0.06		$	0.12		$	0.05		$	0.10

PERFORMANCE RATIOS
Return on average assets		0.57	%		0.54	%		0.52	%		0.46	%
Return on average equity		5.45	%		5.18	%		5.28	%		4.56	%
Net interest margin (tax equivalent)		3.19	%		3.11	%		3.25	%		3.31	%
Net interest margin (Bank Only)		3.56	%		3.51	%		3.64	%		3.66	%
Non-interest expense / Average assets		6.60	%		6.65	%		5.93	%		5.91	%
Efficiency Ratio — bank (non-GAAP)		77.23	%		80.69	%		80.40	%		83.23	%

MARKET DATA PER SHARE
Market value per share — Period end	$	12.82		$	12.82		$	11.00		$	11.00
Market as a % of book		1.12			1.12			1.02			1.02
Cash dividend yield		1.87	%		1.87	%		1.82	%		1.82	%
Period-end common shares outstanding (000)		5,015			5,015			5,027			5,027
Common stock market capitalization ($000)	$	64,298		$	64,298		$	55,302		$	55,302

CAPITAL & LIQUIDITY
Equity to assets		10.5	%		10.5	%		9.8	%		9.8	%
Period-end tangible equity to assets		7.1	%		7.1	%		7.5	%		7.5	%
Tier 1 risk-based capital ratio		14.9	%		14.9	%		16.7	%		16.7	%
Total risk-based capital ratio		16.1	%		16.1	%		18.1	%		18.1	%

ASSET QUALITY
Net charge-offs / (Recoveries)	$	90		$	131		$	(33	)	$	564
Net loan charge-offs (Ann.) / Average loans		0.09	%		0.07	%		(0.04	%)		0.33	%
Non-performing loans	$	5,913		$	5,913		$	5,479		$	5,479
OREO / OAOs	$	84		$	84		$	430		$	430
Non-performing assets	$	5,997		$	5,997		$	5,909		$	5,909
Non-performing assets / Total assets		1.09	%		1.09	%		1.07	%		1.07	%
Allowance for loan losses / Total loans		1.00	%		1.00	%		1.23	%		1.23	%
Allowance for loan losses / Non-performing Assets		63.8	%		63.8	%		75.1	%		75.1	%

END OF PERIOD BALANCES
Total loans, net of unearned income	$	381,662		$	381,662		$	359,854		$	359,854
Allowance for loan loss	$	3,824		$	3,824		$	4,438		$	4,438
Total assets	$	548,200		$	548,200		$	551,845		$	551,845
Deposits	$	407,585		$	407,585		$	400,956		$	400,956
Stockholders’ equity	$	57,349		$	57,349		$	54,026		$	54,026
Full-time equivalent employees		285			285			279			279

AVERAGE BALANCES
Loans	$	379,191		$	375,499		$	345,941		$	339,026
Total earning assets	$	482,036		$	483,449		$	487,637		$	480,862
Total assets	$	549,426		$	552,398		$	545,074		$	542,755
Deposits	$	410,392		$	412,979		$	400,581		$	396,777
Stockholders’ equity	$	57,617		$	57,443		$	54,039		$	54,247

Rurban Financial Corp.
Segment Reporting
Second Quarter Ended June 30, 2007


				RFCBC (Loan
	State Bank and			Workout
	Trust			Company)			Total Banking
*Income Statement Measures*
Interest Income	$	8,268		$	—		$	8,268
Interest Expense		3,996			—			3,996
Net Interest Income		4,272			—			4,272
Provision For Loan Loss		151			(5	)		146
Non-interest Income		1,858			—			1,858
Non-interest Expense		4,711			137			4,848
Net Income Before Taxes		1,268			(132	)		1,136
Income Taxes		351			(45	)		306
Net Income QTD	$	917		$	(87	)	$	830
*Performance Measures*
Average Assets -QTD	$	529,071		$	1,547		$	530,618
ROAA		0.69	%		—			0.63	%
Average Equity — QTD	$	54,905		$	1,344		$	56,249
ROAE		6.68	%		—			5.90	%
Efficiency Ratio — %		74.99	%		—			77.23	%
Average Loans — QTD	$	380,598		$	582		$	381,180
Average Deposits — QTD	$	418,391		$	—		$	418,391


				Parent						Rurban
	Data			Company and			Elimination			Financial
	Processing			Other			Entries			Corp.
*Income Statement Measures*
Interest Income	$	1		$	1		$	(36	)	$	8,234
Interest Expense		74			450			(36	)		4,484
Net Interest Income		(73	)		(449	)		—			3,750
Provision For Loan Loss					—			—			146
Non-interest Income		5,022			367			(739	)		6,508
Non-interest Expense		4,228			728			(739	)		9,065
Net Income Before Taxes		721			(810	)		—			1,047
Income Taxes		245			(289	)		—			262
Net Income QTD	$	476		$	(521	)	$	—		$	785
*Performance Measures*
Average Assets -QTD	$	20,320		$	78,908		$	(80,420	)	$	549,426
ROAA		9.37	%		—			—			0.57	%
Average Equity — QTD	$	14,182		$	57,617		$	(70,431	)	$	57,617
ROAE		13.43	%		—			—			5.45	%
Efficiency Ratio — %		84.09	%		—			—			86.61	%
Average Loans — QTD	$	—		$	—		$	(1,989	)	$	379,191
Average Deposits — QTD	$	—		$	—		$	(7,999	)	$	410,392

Rurban Financial Corp.
Segment Reporting
Six Months Ended June 30, 2007


				RFCBC (Loan
	State Bank			Workout
	and Trust			Company)			Total Banking
*Income Statement Measures*
Interest Income	$	16,338		$	1		$	16,339
Interest Expense		7,935			—			7,935
Net Interest Income		8,403			1			8,404
Provision For Loan Loss		250			(12	)		238
Non-interest Income		3,751			—			3,751
Non-interest Expense		9,685			351			10,036
Net Income Before Taxes		2,219			(338	)		1,881
Income Taxes		595			(115	)		480
Net Income YTD	$	1,624		$	(223	)	$	1,401
*Performance Measures*
Average Assets — YTD	$	531,835		$	1,729		$	533,564
ROAA		0.61	%		—			0.53	%
Average Equity — YTD	$	54,866		$	1,423		$	56,289
ROAE		5.92	%		—			4.98	%
Efficiency Ratio — %		77.81	%		—			80.69	%
Average Loans — YTD	$	377,112		$	598		$	377,710
Average Deposits — YTD	$	421,357		$	—		$	421,357


				Parent						Rurban
	Data			Company and			Elimination			Financial
	Processing			Other			Entries			Corp.
*Income Statement Measures*
Interest Income	$	1		$	2		$	(91	)	$	16,251
Interest Expense		168			895			(91	)		8,907
Net Interest Income		(167	)		(893	)		—			7,344
Provision For Loan Loss					—			—			238
Non-interest Income		10,271			695			(1,471	)		13,246
Non-interest Expense		8,337			1,464			(1,471	)		18,366
Net Income Before Taxes		1,767			(1,662	)		—			1,986
Income Taxes		601			(582	)		—			499
Net Income YTD	$	1,166		$	(1,080	)	$	—		$	1,487
*Performance Measures*
Average Assets — YTD	$	20,430		$	79,169		$	(80,765	)	$	552,398
ROAA		11.41	%		—			—			0.54	%
Average Equity — YTD	$	13,887		$	57,443		$	(70,176	)	$	57,443
ROAE		16.79	%		—			—			5.18	%
Efficiency Ratio — %		81.25	%		—			—			87.47	%
Average Loans — YTD	$	—		$	—		$	(2,211	)	$	375,499
Average Deposits — YTD	$	—		$	—		$	(8,378	)	$	412,979

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


				RFCBC (Loan
	State Bank and			Workout			Banking
	Trust			Company)			Related Entities
*Average Assets*
2Q07	$	529,071		$	1,547		$	530,618
1Q07	$	534,629		$	1,914		$	536,543
4Q06	$	549,777		$	2,178		$	551,955
3Q06	$	549,931		$	2,451		$	552,382
2Q06	$	532,027		$	5,477		$	537,504
2nd Quarter Comparison	$	(2,956	)	$	(3,930	)	$	(6,886	)

*Revenue*
2Q07	$	6,130		$	—		$	6,130
1Q07	$	6,024		$	1		$	6,025
4Q06	$	6,345		$	124		$	6,469
3Q06	$	6,393		$	3		$	6,396
2Q06	$	6,221		$	85		$	6,306
2nd Quarter Comparison	$	(91	)	$	(85	)	$	(176	)

*Non-interest Expenses*
2Q07	$	4,712		$	137		$	4,849
1Q07	$	4,973		$	215		$	5,188
4Q06	$	5,747		$	278		$	6,025
3Q06	$	4,970		$	161		$	5,131
2Q06	$	4,877		$	307		$	5,184
2nd Quarter Comparison	$	(165	)	$	(170	)	$	(335	)

*Net Income*
2Q07	$	917		$	(87	)	$	830
1Q07	$	707		$	(136	)	$	571
4Q06	$	569		$	(89	)	$	480
3Q06	$	872		$	(82	)	$	790
2Q06	$	888		$	(109	)	$	779
2nd Quarter Comparison	$	29		$	22		$	51

*Efficiency Ratio*
2Q07		74.99	%		—			77.23	%
1Q07		82.20	%		—			85.47	%
4Q06		88.78	%		—			91.37	%
3Q06		75.96	%		—			78.44	%
2Q06		76.56	%		—			80.40	%
2nd Quarter Comparison		(1.57	%)		—			(3.17	%)

*NPA/Total Assets*
2Q07		1.03	%		—			—
1Q07		0.66	%		—			—
4Q06		0.61	%		—			—
3Q06		0.90	%		—			—
2Q06		0.86	%		—			—
2nd Quarter Comparison		0.17	%		—			—

*ROAA*
2Q07		0.69	%		—			0.63	%
1Q07		0.53	%		—			0.43	%
4Q06		0.41	%		—			0.35	%
3Q06		0.63	%		—			0.57	%
2Q06		0.67	%		—			0.58	%
2nd Quarter Comparison		0.03	%		—			0.03	%

*ROAE*
2Q07		6.68	%		—			5.90	%
1Q07		5.16	%		—			4.05	%
4Q06		4.20	%		—			3.43	%
3Q06		6.72	%		—			5.83	%
2Q06		6.95	%		—			5.52	%
2nd Quarter Comparison		(0.27	%)		—			(0.26	%)

Average Equity
2Q07	$	54,905		$	1,344		$	56,249
1Q07	$	54,828		$	1,502		$	56,330
4Q06	$	54,249		$	1,714		$	55,963
3Q06	$	51,917		$	2,261		$	54,178
2Q06	$	51,093		$	5,393		$	56,486
2nd Quarter Comparison	$	3,812		$	(4,049	)	$	(237	)


				Parent			Intersegment			Rurban
				Company and			Elimination			Financial
	RDSI			Other			Entries			Corp.
*Average Assets*
2Q07	$	20,320		$	78,908		$	(80,420	)	$	549,426
1Q07	$	20,217		$	79,251		$	(81,380	)	$	554,631
4Q06	$	19,695		$	78,234		$	(80,077	)	$	569,807
3Q06	$	14,442		$	75,666		$	(89,023	)	$	553,465
2Q06	$	13,368		$	74,679		$	(80,477	)	$	545,074
2nd Quarter Comparison	$	6,952		$	4,229			—		$	(74,679	)

*Revenue*
2Q07	$	4,949		$	(82	)	$	(739	)	$	10,258
1Q07	$	5,155		$	(116	)	$	(732	)	$	10,332
4Q06	$	4,944		$	247		$	(500	)	$	11,160
3Q06	$	4,085		$	(219	)	$	(603	)	$	9,659
2Q06	$	3,632		$	(163	)	$	(677	)	$	9,098
2nd Quarter Comparison	$	1,317		$	81			—		$	1,160

*Non-interest Expenses*
2Q07	$	4,228		$	728		$	(739	)	$	9,065
1Q07	$	4,109		$	736		$	(732	)	$	9,301
4Q06	$	4,026		$	822		$	(514	)	$	10,359
3Q06	$	3,375		$	612		$	(603	)	$	8,515
2Q06	$	2,949		$	625		$	(678	)	$	8,080
2nd Quarter Comparison	$	1,279		$	103			—		$	985

*Net Income*
2Q07	$	476		$	(521	)		—		$	785
1Q07	$	690		$	(559	)		—		$	702
4Q06	$	606		$	(376	)		—		$	710
3Q06	$	478		$	(454	)		—		$	814
2Q06	$	451		$	(516	)		—		$	714
2nd Quarter Comparison	$	25		$	(5	)		—		$	71

*Efficiency Ratio*
2Q07		84.09	%		—			—			86.61	%
1Q07		78.52	%		—			—			88.33	%
4Q06		80.40	%		—			—			91.34	%
3Q06		82.20	%		—			—			86.80	%
2Q06		81.19	%		—			—			88.81	%
2nd Quarter Comparison		2.89	%		—			—			(2.20	%)

*NPA/Total Assets*
2Q07		—			—			—			1.09	%
1Q07		—			—			—			0.75	%
4Q06		—			—			—			0.70	%
3Q06		—			—			—			1.07	%
2Q06		—			—			—			1.07	%
2nd Quarter Comparison		—			—			—			(0.86	%)

*ROAA*
2Q07		9.37	%		—			—			0.57	%
1Q07		13.65	%		—			—			0.51	%
4Q06		12.31	%		—			—			0.50	%
3Q06		13.24	%		—			—			0.59	%
2Q06		13.49	%		—			—			0.52	%
2nd Quarter Comparison		0.03	%		—			—			0.03	%

*ROAE*
2Q07		13.43	%		—			—			5.45	%
1Q07		20.63	%		—			—			4.91	%
4Q06		19.06	%		—			—			5.08	%
3Q06		21.26	%		—			—			5.95	%
2Q06		21.38	%		—			—			5.28	%
2nd Quarter Comparison		(0.26	%)		—			—			(0.26	%)

Average Equity
2Q07	$	14,182		$	57,617		$	(70,431	)	$	57,617
1Q07	$	13,378		$	57,192		$	(69,708	)	$	57,192
4Q06	$	12,721		$	55,963		$	(68,684	)	$	55,963
3Q06	$	8,995		$	54,702		$	(63,173	)	$	54,702
2Q06	$	8,437		$	54,039		$	(64,923	)	$	54,039
2nd Quarter Comparison	$	5,745		$	3,578			—		$	3,578


CONTACT:		Rurban Financial Corp.
		Investor Contact:
		Valda Colbart
		419-784-2759
		rfcinv@rurban.net