DEFIANCE, Ohio, July 15, 2009 — Rurban Financial Corp. (NASDAQ: RBNF), a leading provider of full-service community banking, investment management, trust services and bank data and item processing, reported second quarter 2009 earnings of $1.00 million, or $0.20 per diluted share, compared to the $1.36 million, or $0.28 per diluted share, reported in second quarter 2008. Core operating earnings were essentially even at $1.29 million excluding one-time items recorded during the quarter. These one-time pre-tax charges include increased loan loss reserve building of $500 thousand, a special FDIC insurance assessment of $300 thousand and $190 thousand in professional fees associated with the planned spin-off of RDSI Banking Systems and merger of RDSI with New Core Holdings, Inc. d/b/a New Core Banking Systems (“New Core”). Partially off-setting the one-time charges were a $424 thousand gain on the sale of securities taken as part of a portfolio restructuring and recognition of $125 thousand recapture of the valuation allowance in Originated Mortgage Servicing Rights (OMSR’s) due to the rise in mortgage rates.

For the first half of 2009, consolidated earnings were $2.11 million, or $0.43 per diluted share, compared to $2.47 million, or $0.50 per diluted share, recorded for the first half of 2008. The year-to-date earnings have been impacted by $700 thousand in additional loan loss reserves, $300 thousand in a special FDIC insurance assessment and $257 thousand in professional fees associated with the planned RDSI spin-off and merger of RDSI with New Core. Offsetting these costs were gains from the sale of securities of $477 thousand. Excluding the after-tax impact of all these one-time items, core earnings were $2.63 million, or $0.54 per diluted share, for the first half of 2009.

“Although the second quarter and year-to-date earnings are slightly lower, there are many positive developments in the quarterly results. Loan growth continued at a 6.6 percent annualized rate, mortgage banking production was beyond our expectations, and the banking segment interest margin improved to 4.04 percent for the quarter. The first half of the year also completed our integration of the Williams County banking centers acquired in the year-end 2008 acquisition of National Bank of Montpelier,” commented Kenneth A. Joyce, President and CEO of Rurban Financial Corp. “We continue to report encouraging earnings despite the challenges we and the banking industry continue to face on the asset quality front. We had a nominal increase in our non-performing assets for the quarter, (up 15 basis points), and we have not experienced discernable signs of an improving economy within our operating sphere. We therefore, expect to continue to see nominal increases in non-performers and reserve levels well within our earnings capability.”

RDSI, the Company’s data and item processing segment, announced during the second quarter that it has partnered with New Core to be the exclusive provider of New Core’s Single Source™ banking application to the banking industry. As part of this partnership, RDSI and New Core have also entered into a plan of merger that, if completed, would be consummated by the end of 2010. A prerequisite of this merger would be the spin-off of RDSI from Rurban, resulting in RDSI becoming a separate, independent public company. During the second quarter, the Holding Company recorded $190 thousand in professional services fees associated with the planned merger and spin-off, which resulted in the decline in earnings compared with the 2009 first quarter.

The State Bank and Trust Company continued to substantially increase mortgage production. Total mortgage production for the second quarter was $66.7 million compared to $11.5 million for the previous year’s second quarter. On a year-to-date basis, mortgage production totaled $144.5 million, compared to $30.0 million for the first half of 2008. This production improvement is the result of the Bank’s 2008 investment in mortgage production initiatives, such as our Columbus, Ohio Loan Production Office and the building of our mortgage production staff in its operating footprint. The Bank recorded a $125 thousand recovery of the $250 thousand in impairment on mortgage servicing rights during the quarter. The mortgage loan servicing portfolio increased to $158 million from $122 million in the first quarter and $59.4 million from the year-ago quarter.

Non-interest expense for the 2009 second quarter totaled $11.11 million compared to $9.11 million for the second quarter of 2008, for an increase of $2.00 million. Approximately $407 thousand is attributable to the core operating expenses related to the December 2008 acquisition of the Williams County banking centers. Also contributing to the increase was the aforementioned special FDIC insurance assessment of $300 thousand, and the $190 thousand in professional fees associated with the planned RDSI spin-off and merger of RDSI with New Core. Mortgage banking expenses increased by $572 thousand from the second quarter 2009 compared to the second quarter 2008. The 2008 second quarter included the recovery of $200 thousand in legal fees associated with RFCBC, Inc., increasing the variance to last year. Exclusive of these adjustments, non-interest expense increased 3.60 percent over the year-ago quarter.

Total assets were $661.5 million on June 30, 2009, up $85.0 million from 12 months ago due to the National Bank of Montpelier acquisition, but down slightly, $4.27 million, from the linked-quarter. Net loans were $441.2 million at June 30, 2009, up $36.8 million from twelve months ago and up $7.17 million compared to last quarter. Total deposits were $473.0 million at June 30, 2009, up $70.4 million from twelve months ago and down $14.6 million from first quarter 2009. Total available-for-sale securities decreased by $17.9 million to $110.0 million at June 30, 2009, compared to the first quarter balance of $127.9 million. Total shareholders’ equity increased to $63.4 million at June 30, 2009, compared to $59.4 million for the year-ago quarter, and decreased slightly from the $63.6 million for the first quarter 2009.

Mr. Joyce commented, “We continue to navigate through asset quality headwinds within the banking industry. The good news is we have experienced five straight months of declining loan delinquencies, and the current delinquency rate of 2.49 percent is encouraging. To ensure adequate loan loss coverage, we increased our reserve for loan losses by an additional $500 thousand over the $300 thousand budgeted amount. The special FDIC assessment came to the industry at a difficult time, and it was sizable, $300 thousand for The State Bank and Trust Company. Our core banking franchise continues to grow quality loans and mortgage banking was strong, but slowing, toward the end of the second quarter due to rising rates.”

Total deposits at June 30, 2009 were $473.0 million, compared to $487.6 million at March 31, 2009 and $402.6 million for the year-ago quarter. The cost of deposits dropped to 1.37 percent for the second quarter 2009, compared to the year-ago quarter cost of 2.51 percent. State Bank’s deposit mix continues to shift toward core transaction deposits (DDA, NOW, SAV & MMA), which accounted for 53.6 percent of total deposits for second quarter 2009, compared with 48.6 percent for the year-ago second quarter. Core transaction growth continues to be driven by the High Performance Checking Account Program and a relentless effort to cross-sell additional products.

The Provision for Loan Losses was $799 thousand in the second quarter of 2009, compared to $213 thousand in the second quarter of 2008 and $495 thousand for the linked-quarter. The additional Loan Loss Provision of $500 thousand over the budgeted amount of $300 thousand per quarter is reflective of declining asset quality on four specific credits. During the quarter, additional specific allocations of $1.1 million were allocated to these four credits. These additional reserves were offset by several credits improving and the associated reserves were accordingly reduced. For the second quarter of 2009, net charge-offs totaled $275 thousand, or 0.25 percent of average loans on an annualized basis, compared to $167 thousand, or 0.15 percent of average loans for the linked-quarter. Total non-performing assets increased by $930 thousand over the previous quarter’s balances moving up slightly to 1.74 percent of assets, versus 1.59 percent for the first quarter. The following chart and narrative summarizes the asset quality picture:

Mr. Joyce concluded, “We continue to be pleased with RDSI’s contribution to Rurban’s overall performance and RDSI was a key component to the success we achieved in the first half of 2009. As we stated in an earlier press release, we plan to spin-off RDSI within the next 18 months and merge RDSI with New Core. We also disclosed in a Form 8K filed on May 29, 2009, that Information Technology, Inc. and Fiserv Solutions, Inc. (collectively, “Fiserv”) delivered notices to RDSI stating their intention to terminate a series of license agreements and filed a lawsuit against RDSI in Nebraska seeking a declaratory judgment regarding Fiserv’s ability to terminate those license agreements. Pursuant to the license agreements, RDSI licenses Fiserv’s Premier software products which it has used to provide data processing services to many of its financial institution customers. An agreement is being negotiated, while the legal action is being currently stayed. RDSI believes that its data processing customers will have the choice of moving their processing to Fiserv or remaining with RDSI and being processed on Single Source™. The result could be the loss of some clients now being serviced by RDSI that choose to move their processing to Fiserv. The positive, is that we believe RDSI and Single Source™ will likely have a sizable installed base, marking an exceptional start for a new core system and an exciting beginning point for an independent RDSI. While there will be many short-term challenges, we are excited about RDSI’s long-term business opportunities as we create an exciting platform with strong possibilities for market share growth.”

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 and RDSI Banking Systems (RDSI), including DCM. The State Bank and Trust Company offers financial services through its 20 banking centers in Allen, Defiance, Fulton, Lucas, Paulding, Williams and Wood Counties, Ohio and Allen County, Indiana and a Loan Production Office in Franklin County, Ohio. Reliance Financial Services, a division of the Bank, 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, Kansas, Michigan, Missouri, Nebraska, Nevada, 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 4,863,079 shares outstanding. The Company's website is http://www.rurbanfinancial.net.

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. Certain statements within this document regarding the current litigation and dispute between RDSI and Fiserv also involve risks and uncertainties that include, but are not limited to, that the litigation may result in an adverse determination regarding RDSI’s right to continue to license the Fiserv Premier software products, that existing customers of RDSI may move their processing to Fiserv, and that the litigation may result in significant costs and expenses and could divert management’s attention and resources, which would have a material adverse affect on RDSI’s business, financial condition and results of operations.

If and when the Board of Directors of Rurban decides to proceed with the planned spin-off of RDSI, Rurban and/or RDSI will file with the SEC a registration statement concerning the spin-off and the merger transaction between RDSI and New Core. That registration statement would include a combined prospectus for the offer and sale of RDSI common shares, as well as an information statement or proxy statement to be delivered to the New Core shareholders in connection with the approval of the merger transaction by the New Core shareholders. The combined prospectus and information statement/proxy statement and other documents filed by Rurban and/or RDSI with the SEC will contain important information about Rurban, RDSI, New Core and the merger transaction. WE URGE INVESTORS AND NEW CORE SHAREHOLDERS TO READ CAREFULLY THE COMBINED PROSPECTUS AND INFORMATION STATEMENT/PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC, INCLUDING ANY AMENDMENTS OR SUPPLEMENTS ALSO FILED WITH THE SEC. NEW CORE SHAREHOLDERS IN PARTICULAR SHOULD READ THE COMBINED PROSPECTUS AND INFORMATION STATEMENT/PROXY STATEMENT CAREFULLY BEFORE MAKING A DECISION CONCERNING THE MERGER TRANSACTION. Investors and shareholders will be able to obtain a free copy of the combined prospectus and information statement/proxy statement — along with other filings containing information about Rurban and RDSI — at the SEC’s website at http://www.sec.gov. Copies of the combined prospectus and information statement/proxy statement, and the filings with the SEC incorporated by reference in the combined prospectus and information statement/proxy statement, can also be obtained free of charge by directing a request to Rurban Financial Corp., 401 Clinton Street, Defiance, Ohio 43512; Attention: Ms. Valda Colbart, Investor Relations Officer; Telephone: (419) 784-2759.

RURBAN FINANCIAL CORP.

CONSOLIDATED BALANCE SHEETS

June 30, 2009 and December 31, 2008 and June 30, 2008

	June			December			June
	2009			2008			2008
	(Unaudited)						(Unaudited)
ASSETS
Cash and due from banks	$	25,617,514		$	18,059,532		$	11,876,639
Federal funds sold		-			10,000,000			-
Cash and cash equivalents		25,617,514			28,059,532			11,876,639
Available-for-sale securities		109,988,049			102,606,475			96,706,231
Loans held for sale		13,310,045			3,824,499			2,644,049
Loans, net of unearned income		441,217,413			450,111,653			404,434,895
Allowance for loan losses		(5,873,146	)		(5,020,197	)		(4,246,794	)
Premises and equipment, net		16,636,308			17,621,262			15,128,647
Purchased software		5,567,099			5,867,395			4,656,742
Federal Reserve and Federal Home Loan Bank Stock		3,748,250			4,244,100			4,105,000
Foreclosed assets held for sale, net		1,346,449			1,384,335			1,479,561
Accrued interest receivable		2,512,786			2,964,663			2,757,523
Goodwill		21,414,790			21,414,790			13,940,618
Core deposits and other intangibles		5,392,114			5,835,936			4,788,465
Cash value of life insurance		12,845,586			12,625,015			12,393,478
Other assets		7,821,698			6,079,451			5,847,772

Total assets	$	661,544,955		$	657,618,909		$	576,512,826

LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits
Non interest bearing demand	$	52,755,779		$	52,242,626		$	41,419,072
Interest bearing NOW		77,890,648			73,123,095			57,503,181
Savings		37,978,225			34,313,586			24,980,849
Money Market		84,810,835			82,025,074			71,656,108
Time Deposits		219,558,052			242,516,203			206,998,707
Total deposits		472,993,539			484,220,584			402,557,917
Notes payable		2,563,687			1,000,000			-
Advances from Federal Home Loan Bank		40,466,373			36,646,854			37,808,264
Fed Funds Purchased		10,000,000			-			3,600,000
Repurchase Agreements		42,703,632			43,425,978			44,509,511
Trust preferred securities		20,620,000			20,620,000			20,620,000
Accrued interest payable		1,750,093			1,965,842			2,158,948
Other liabilities		7,034,918			8,077,647			5,896,457

Total liabilities		598,132,242			595,956,905			517,151,097

Shareholders' Equity
Common stock		12,568,583			12,568,583			12,568,583
Additional paid-in capital		15,102,913			15,042,781			14,964,795
Retained earnings		37,015,166			35,785,317			33,916,713
Accumulated other comprehensive income (loss)		478,565			(121,657	)		(761,502	)
Treasury stock		(1,752,514	)		(1,613,020	)		(1,326,860	)

Total shareholders' equity		63,412,713			61,662,004			59,361,729

Total liabilities and shareholders' equity	$	661,544,955		$	657,618,909		$	576,512,826

RURBAN FINANCIAL CORP.

CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2009		2008			2009			2008
Interest income
Loans
Taxable	$	6,855,627	$	7,023,308		$	13,670,260		$	13,831,504
Tax-exempt		25,390		20,469			50,847			41,819
Securities
Taxable		1,134,573		1,090,570			2,214,070			2,130,464
Tax-exempt		244,331		165,798			472,215			324,165
Other		29,745		15,380			29,877			112,789
Total interest income		8,289,666		8,315,525			16,437,269			16,440,741

Interest expense
Deposits		1,657,345		2,623,590			3,555,649			5,715,492
Other borrowings		33,411		9,483			47,803			26,989
Retail Repurchase Agreements		431,336		450,763			858,823			911,315
Federal Home Loan Bank advances		411,556		377,146			804,128			679,482
Trust preferred securities		394,629		422,385			793,614			858,089
Total interest expense		2,928,277		3,883,367			6,060,017			8,191,367

Net interest income		5,361,389		4,432,158			10,377,252			8,249,374

Provision for loan losses		798,850		212,997			1,293,992			405,215

Net interest income after provision
for loan losses		4,562,539		4,219,161			9,083,260			7,844,159

Non-interest income
Data service fees		4,956,034		4,948,783			9,928,583			10,213,348
Trust fees		641,033		815,734			1,224,656			1,670,841
Customer service fees		649,003		612,825			1,223,702			1,199,032
Net gain on sales of loans		938,345		183,145			2,016,392			457,748
Net realized gain on sales of securities		423,784		-			477,591			-
Net proceeds from VISA IPO		-		-			-			132,106
Investment securities recoveries		-		-			-			197,487
Loan servicing fees		103,863		55,220			171,736			118,160
Gain (loss) on sale of assets		16,241		(390	)		(42,414	)		(71,422	)
Other income		169,488		185,841			345,050			399,371
Total non-interest income		7,897,791		6,801,158			15,345,296			14,316,671

Non-interest expense
Salaries and employee benefits		5,298,604		4,435,657			10,222,726			8,874,421
Net occupancy expense		911,719		511,179			1,584,120			1,077,195
Equipment expense		1,698,905		1,625,708			3,312,298			3,193,345
Data processing fees		208,726		104,792			344,462			201,359
Professional fees		642,988		284,536			1,141,043			855,223
Marketing expense		234,557		156,090			423,303			337,837
Printing and office supplies		117,335		119,686			331,877			305,738
Telephone and communication		399,835		421,858			806,228			843,787
Postage and delivery expense		514,490		535,813			1,123,512			1,138,447
State, local and other taxes		233,157		186,418			466,053			367,186
Employee expense		257,204		303,372			517,142			533,983
Other expenses		590,537		425,237			1,310,317			983,185
Total non-interest expense		11,108,057		9,110,346			21,583,081			18,711,706

Income before income tax expense		1,352,273		1,909,973			2,845,475			3,449,124
Income tax expense		348,687		554,149			738,336			983,944

Net income	$	1,003,586	$	1,355,824		$	2,107,139		$	2,465,180

Earnings per common share:
Basic	$	0.20	$	0.28		$	0.43		$	0.50
Diluted	$	0.20	$	0.28		$	0.43		$	0.50

RURBAN FINANCIAL CORP. CONSOLIDATED FINANCIAL HIGHLIGHTS (Unaudited)
	Three Months Ended						Six Months Ended
	June 30,						June 30,
(dollars in thousands except per share data)	2009			2008			2009			2008
EARNINGS
Net interest income	$	5,361		$	4,432		$	10,377		$	8,249
Provision for loan loss	$	799		$	213		$	1,294		$	405
Non-interest income	$	7,897		$	6,801		$	15,345		$	14,317
Revenue (net interest income plus non-interest income)	$	13,258		$	11,233		$	25,722		$	22,566
Non-interest expense	$	11,108		$	9,111		$	21,583		$	18,712
Net income	$	1,003		$	1,356		$	2,107		$	2,465

PER SHARE DATA
Basic earnings per share	$	0.20		$	0.28		$	0.43		$	0.50
Diluted earnings per share	$	0.20		$	0.28		$	0.43		$	0.50
Book value per share	$	13.04		$	12.08		$	13.04		$	12.08
Tangible book value per share	$	7.40		$	8.41		$	7.40		$	8.41
Cash dividend per share	$	0.09		$	0.08		$	0.18		$	0.16

PERFORMANCE RATIOS
Return on average assets		0.61	%		0.94	%		0.64	%		0.86	%
Return on average equity		6.29	%		9.09	%		6.67	%		8.27	%
Net interest margin (tax equivalent)		3.82	%		3.55	%		3.74	%		3.34	%
Net interest margin - banking group		4.04	%		3.83	%		3.98	%		3.64	%
Non-interest expense / Average assets		6.71	%		6.29	%		6.51	%		6.53	%
Efficiency Ratio - bank (non-GAAP)		72.67	%		69.85	%		82.18	%		72.83	%

MARKET DATA PER SHARE
Market value per share -- Period end	$	7.75		$	9.52		$	7.75		$	9.52
Market as a % of book		59	%		79	%		59	%		79	%
Cash dividend yield		4.65	%		3.36	%		4.65	%		3.36	%
Period-end common shares outstanding (000)		4,864			4,914			4,864			4,914
Common stock market capitalization ($000)	$	37,696		$	46,781		$	37,696		$	46,781

CAPITAL & LIQUIDITY
Equity to assets		9.6	%		10.3	%		9.6	%		10.3	%
Period-end tangible equity to tangible assets		5.6	%		7.4	%		5.6	%		7.4	%
Total risk-based capital ratio (Estimate)		13.3	%		15.7	%		13.3	%		15.7	%

ASSET QUALITY
Net charge-offs / (Recoveries)	$	275		$	(18	)	$	442		$	149
Net loan charge-offs (Ann.) / Average loans		0.24	%		(0.02	%)		0.20	%		0.07	%
Non-performing loans	$	10,173		$	5,141		$	10,173		$	5,141
OREO / OAOs	$	1,346		$	1,566		$	1,346		$	1,566
Non-performing assets	$	11,519		$	6,707		$	11,519		$	6,707
Non-performing assets / Total assets		1.74	%		1.16	%		1.74	%		1.16	%
Allowance for loan losses / Total loans		1.33	%		1.04	%		1.33	%		1.04	%
Allowance for loan losses / Non-performing Assets		51.0	%		63.3	%		51.0	%		63.3	%

END OF PERIOD BALANCES
Total loans, net of unearned income	$	441,217		$	404,435		$	441,217		$	404,435
Allowance for loan loss	$	5,873		$	4,247		$	5,873		$	4,247
Total assets	$	661,545		$	576,513		$	661,545		$	576,513
Deposits	$	472,994		$	402,558		$	472,994		$	402,558
Stockholders' equity	$	63,413		$	59,362		$	63,413		$	59,362
Full-time equivalent employees		309			273			309			273

AVERAGE BALANCES
Loans	$	448,677		$	404,756		$	448,851		$	397,338
Total earning assets	$	575,240		$	510,521		$	568,754		$	504,628
Total assets	$	662,589		$	579,004		$	663,177		$	572,914
Deposits	$	483,882		$	412,080		$	487,079		$	412,045
Stockholders' equity	$	63,823		$	59,671		$	63,203		$	59,628

RURBAN FINANCIAL CORP.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(Unaudited)
	2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr
(dollars in thousands except per share data)	2009			2009			2008			2008			2008
EARNINGS
Net interest income	$	5,361		$	5,016		$	4,830		$	4,448		$	4,432
Provision for loan loss	$	799		$	495		$	138		$	146		$	213
Non-interest income	$	7,897		$	7,448		$	6,755		$	6,989		$	6,801
Revenue (net interest income plus non-interest income)	$	13,258		$	12,464		$	11,585		$	11,437		$	11,233
Non-interest expense	$	11,108		$	10,475		$	9,566		$	9,279		$	9,111
Net income	$	1,003		$	1,104		$	1,328		$	1,424		$	1,356

PER SHARE DATA
Basic earnings per share	$	0.20		$	0.23		$	0.27		$	0.29		$	0.28
Diluted earnings per share	$	0.20		$	0.23		$	0.27		$	0.29		$	0.28
Book value per share	$	13.04		$	13.06		$	12.63		$	12.25		$	12.08
Tangible book value per share	$	7.24		$	7.24		$	7.06		$	8.65		$	8.41
Cash dividend per share	$	0.09		$	0.09		$	0.09		$	0.09		$	0.08

PERFORMANCE RATIOS
Return on average assets		0.61	%		0.66	%		0.88	%		0.99	%		0.94	%
Return on average equity		6.29	%		7.04	%		8.75	%		9.54	%		9.09	%
Net interest margin (tax equivalent)		3.82	%		3.67	%		3.83	%		3.56	%		3.55	%
Net interest margin (Bank Only)		4.04	%		3.93	%		4.06	%		3.84	%		3.83	%
Non-interest expense / Average assets		6.71	%		6.29	%		6.31	%		6.44	%		6.29	%
Efficiency Ratio - bank (non-GAAP)		72.67	%		77.41	%		73.15	%		71.13	%		69.85	%

MARKET DATA PER SHARE
Market value per share -- Period end	$	7.75		$	7.90		$	7.60		$	9.00		$	9.52
Market as a % of book		59	%		60	%		60	%		73	%		79	%
Cash dividend yield		4.65	%		4.56	%		4.74	%		4.00	%		3.36	%
Period-end common shares outstanding (000)		4,864			4,871			4,881			4,906			4,914
Common stock market capitalization ($000)	$	37,696		$	38,484		$	37,099		$	44,154		$	46,781

CAPITAL & LIQUIDITY
Equity to assets		9.6	%		9.6	%		9.4	%		10.3	%		10.3	%
Period-end tangible equity to tangible assets		5.6	%		5.5	%		6.6	%		7.5	%		7.4	%
Total risk-based capital ratio (Estimate)		13.3	%		13.5	%		13.0	%		16.5	%		15.6	%

ASSET QUALITY
Net charge-offs / (Recoveries)	$	275		$	167		$	280		$	336		$	(18	)
Net loan charge-offs (Ann.) / Average loans		0.25	%		0.15	%		0.27	%		0.33	%		(0.02	%)
Non-performing loans	$	10,173		$	9,163		$	5,178		$	4,659		$	5,141
OREO / OAOs	$	1,346		$	1,426		$	1,409		$	1,611		$	1,566
Non-performing assets	$	11,519		$	10,589		$	6,587		$	6,270		$	6,707
Non-performing assets / Total assets		1.74	%		1.59	%		1.00	%		1.07	%		1.16	%
Allowance for loan losses / Total loans		1.33	%		1.23	%		1.12	%		1.01	%		1.04	%
Allowance for loan losses / Non-performing Assets		51.0	%		50.5	%		76.2	%		64.7	%		63.3	%

END OF PERIOD BALANCES
Total loans, net of unearned income	$	441,217		$	434,052		$	450,112		$	399,910		$	404,435
Allowance for loan loss	$	5,873		$	5,349		$	5,020		$	4,057		$	4,247
Total assets	$	661,545		$	665,813		$	657,619		$	585,022		$	576,513
Deposits	$	472,994		$	487,634		$	484,221		$	406,454		$	402,558
Stockholders' equity	$	63,413		$	63,621		$	61,662		$	60,117		$	59,362
Full-time equivalent employees		309			306			306			271			273

AVERAGE BALANCES
Loans	$	448,677		$	448,271		$	412,222		$	401,790		$	404,756
Total earning assets	$	575,240		$	561,566		$	518,707		$	506,760		$	510,521
Total assets	$	662,589		$	666,292		$	606,655		$	576,774		$	579,004
Deposits	$	483,882		$	490,526		$	431,076		$	403,064		$	412,080
Stockholders' equity	$	63,823		$	62,692		$	60,686		$	59,717		$	59,671

Rurban Financial Corp.

Segment Reporting

Three Months Ended June 30, 2009

($ in Thousands)

							Parent						Rurban
	Total			Data			Company			Elimination			Financial
Income Statement Measures	Banking			Processing			and Other			Entries			Corp.
Interest Income	$	8,291		$	30		$	-		$	(32	)	$	8,289

Interest Expense		2,501			64			395			(32	)		2,928

Net Interest Income		5,790			(34	)		(395	)		-			5,361

Provision For Loan Loss		799			-			-			-			799

Non-interest Income		2,941			5,350			376			(770	)		7,897

Non-interest Expense		6,505			4,394			979			(770	)		11,108

Net Income QTD	$	1,048		$	608		$	(653	)	$	-		$	1,003

Performance Measures
Average Assets -QTD	$	641,939		$	22,166		$	86,005		$	(87,521	)	$	662,589

ROAA		0.65	%		10.97	%		-			-			0.61	%

Average Equity - QTD	$	67,760		$	14,674		$	63,823		$	(82,434	)	$	63,823

ROAE		6.19	%		16.57	%		-			-			6.29	%

Efficiency Ratio - %		72.67	%		-			-			-			82.11	%

Average Loans - QTD	$	449,595		$	2,044		$	-		$	(2,972	)	$	448,667

Average Deposits - QTD	$	485,997		$	-		$	-		$	(2,115	)	$	483,882

Rurban Financial Corp.

Segment Reporting

Six Months Ended June 30, 2009

($ in Thousands)

							Parent						Rurban
	Total			Data			Company			Elimination			Financial
Income Statement Measures	Banking			Processing			and Other			Entries			Corp.
Interest Income	$	16,450		$	30		$	-		$	(43	)	$	16,437

Interest Expense		5,220			89			794			(43	)		6,060

Net Interest Income		11,230			(59	)		(794	)		-			10,377

Provision For Loan Loss		1,294			-			-			-			1,294

Non-interest Income		5,443			10,723			776			(1,597	)		15,345

Non-interest Expense		12,814			8,579			1,787			(1,597	)		21,583

Net Income YTD	$	1,910		$	1,376		$	(1,179	)	$	-		$	2,107

Performance Measures
Average Assets -YTD	$	642,105		$	21,226		$	85,700		$	(85,854	)	$	663,177

ROAA		0.59	%		12.97	%		-			-			0.64	%

Average Equity - YTD	$	67,149		$	14,641		$	63,203		$	(81,790	)	$	63,203

ROAE		5.69	%		18.80	%		-			-			6.67	%

Efficiency Ratio - %		74.93	%		-			-			-			82.18	%

Average Loans - YTD	$	449,511		$	1,028		$	-		$	(1,688	)	$	448,851

Average Deposits - YTD	$	489,455		$	-		$	-		$	(2,376	)	$	487,079

Rurban Financial Corp.

Proforma Performance Measurement

Quarterly Comparison - Second Quarter 2009

($ in Thousands)

		Total Banking			Data Processing			Parent Company			Elimination			Rurban Financial
								and Other			Entries			Corp.
Revenue
	2Q09	$	8,731		$	5,316		$	(19	)	$	(770	)	$	13,258
	1Q09	$	7,942		$	5,348		$	1		$	(827	)	$	12,464
	4Q08	$	7,007		$	5,381		$	(18	)	$	(785	)	$	11,585
	3Q08	$	6,877		$	5,294		$	5		$	(738	)	$	11,438
	2Q08	$	6,729		$	5,285		$	(15	)	$	(766	)	$	11,233
2nd Quarter Comparison		$	2,002		$	31		$	(4	)	$	-		$	2,025

Non-interest Expenses
	2Q09	$	6,505		$	4,394		$	979		$	(770	)	$	11,108
	1Q09	$	6,309		$	4,185		$	808		$	(827	)	$	10,475
	4Q08	$	5,254		$	4,299		$	798		$	(785	)	$	9,566
	3Q08	$	5,003		$	4,286		$	728		$	(738	)	$	9,279
	2Q08	$	4,812		$	4,316		$	748		$	(766	)	$	9,110
2nd Quarter Comparison		$	1,693		$	78		$	231		$	-		$	1,998

Net Income
	2Q09	$	1,048		$	608		$	(653	)	$	-		$	1,003
	1Q09	$	863		$	768		$	(527	)	$	-		$	1,104
	4Q08	$	1,146		$	715		$	(533	)	$	-		$	1,328
	3Q08	$	1,233		$	664		$	(473	)	$	-		$	1,424
	2Q08	$	1,217		$	640		$	(501	)	$	-		$	1,356
2nd Quarter Comparison		$	(169	)	$	(32	)	$	(152	)	$	-		$	(353	)

Average Assets
	2Q09	$	641,939		$	22,166		$	86,005		$	(87,521	)	$	662,589
	1Q09	$	645,365		$	20,256		$	85,313		$	(84,642	)	$	666,292
	4Q08	$	596,469		$	19,804		$	82,775		$	(92,393	)	$	606,655
	3Q08	$	557,306		$	20,344		$	81,707		$	(82,583	)	$	576,774
	2Q08	$	560,223		$	20,214		$	81,579		$	(83,011	)	$	579,004
2nd Quarter Comparison		$	81,716		$	1,952		$	4,426		$	-		$	83,585

ROAA
	2Q09		0.65	%		10.97	%		-			-			0.61	%
	1Q09		0.53	%		15.17	%		-			-			0.66	%
	4Q08		0.77	%		14.44	%		-			-			0.88	%
	3Q08		0.88	%		13.06	%		-			-			0.99	%
	2Q08		0.87	%		12.66	%		-			-			0.94	%
2nd Quarter Comparison			(0.22	%)		(1.69	%)		-			-			(0.33	%)

Average Equity
	2Q09	$	67,760		$	14,674		$	63,823		$	(82,434	)	$	63,823
	1Q09	$	66,532		$	14,529		$	62,692		$	(81,061	)	$	62,692
	4Q08	$	63,224		$	15,816		$	60,686		$	(79,040	)	$	60,686
	3Q08	$	59,899		$	16,063		$	59,717		$	(75,962	)	$	59,717
	2Q08	$	59,395		$	15,861		$	59,671		$	(75,256	)	$	59,671
2nd Quarter Comparison		$	8,365		$	(1,187	)	$	4,152		$	-		$	4,152

ROAE
	2Q09		6.19	%		16.57	%		-			-			6.29	%
	1Q09		5.19	%		21.14	%		-			-			7.04	%
	4Q08		7.25	%		18.08	%		-			-			8.75	%
	3Q08		8.23	%		16.53	%		-			-			9.54	%
	2Q08		8.20	%		16.14	%		-			-			9.09	%
2nd Quarter Comparison			(2.01	%)		0.43	%		-			-			(2.80	%)

Efficiency Ratio
	2Q09		72.67	%		81.49	%		-			-			82.11	%
	1Q09		77.41	%		77.48	%		-			-			82.24	%
	4Q08		73.15	%		73.15	%		-			-			80.92	%
	3Q08		71.13	%		79.79	%		-			-			79.60	%
	2Q08		69.85	%		80.50	%		-			-			79.56	%
2nd Quarter Comparison			2.82	%		0.99	%		-			-			2.55	%

(Dollars in thousands except per share data)

Earnings:		2Q 2009		1Q 2009		2Q 2008
Net interest income	$	5,361	$	5,016	$	4,432
Non-interest income		7,897		7,448		6,801
Revenue		13,258		12,464		11,233
Provision (credit) for loan losses		799		495		213
Non-interest expense		11,108		10,475		9,111
Net income		1,003		1,104		1,356
Diluted EPS	$	0.20	$	0.23	$	0.28

(Dollars in thousands except percent data)

ASSET QUALITY		2Q 2009			1Q 2009			2Q 2008
Net charge-offs	$	275		$	167		$	(18	)
Net charge-offs to avg. loans (Annualized)		0.25	%		0.15	%		(0.02	%)
Non-performing loans	$	10,173		$	9,163		$	5,141
OREO + OAO	$	1,346		$	1,426		$	1,566
Non-performing assets (NPA’s)	$	11,519		$	10,589		$	6,707
NPA / Total assets		1.74	%		1.59	%		1.16	%
Allowance for loan losses	$	5,873		$	5,349		$	4,247
Allowance for loan losses / Loans		1.33	%		1.23	%		1.04	%