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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001144204-09-054418.txt : 20091023
<SEC-HEADER>0001144204-09-054418.hdr.sgml : 20091023
<ACCEPTANCE-DATETIME>20091023163328
ACCESSION NUMBER:		0001144204-09-054418
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20091022
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20091023
DATE AS OF CHANGE:		20091023

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RURBAN FINANCIAL CORP
		CENTRAL INDEX KEY:			0000767405
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				341395608
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13507
		FILM NUMBER:		091134877

	BUSINESS ADDRESS:	
		STREET 1:		401 CLINTON ST
		CITY:			DEFIANCE
		STATE:			OH
		ZIP:			43512
		BUSINESS PHONE:		4197838930

	MAIL ADDRESS:	
		STREET 1:		401 CLINTON STREET
		STREET 2:		PO BOX 467
		CITY:			DEFIANCE
		STATE:			OH
		ZIP:			43512
</SEC-HEADER>
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<TYPE>8-K
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STATES</font></div>
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AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C. 20549</font></div>
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8-K</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
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to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
Report (Date of earliest event reported): <font style="DISPLAY: inline; TEXT-DECORATION: underline">October 23, 2009 (October
22, 2009)</font></font></div>
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FINANCIAL
CORP.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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783-8950</font></font></div>
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telephone number, including area code)</font></div>
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appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></div>
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&#160;&#160;]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))</font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Item 5.02 &#8211; Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
information set forth under &#8220;Item 8.01 &#8212; Other Events&#8221; of this Current Report on
Form 8-K below relating to the changes in executive officers of Rurban and RDSI
in connection with the contemplated spin-off is incorporated herein by
reference.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Item 7.01 &#8211; Regulation FD
Disclosure</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
October 21, 2009, Rurban issued a news release announcing that its Board of
Directors has declared a quarterly shareholder dividend of $0.09 per
share.&#160;&#160;&#160;The dividend is payable on November 20, 2009 to all
shareholders of record on November 6, 2009.&#160;&#160;A copy of the October 21,
2009 news release is furnished as Exhibit 99.1 and is incorporated herein by
reference.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
information in this Item 7.01, including Exhibit 99.1 furnished herewith, is
being furnished and shall not be deemed to be &#8220;filed&#8221; for purposes of Section 18
of the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) or otherwise subject
to the liabilities of that Section, nor shall such information be deemed to be
incorporated by reference in any registration statement or other document filed
under the Securities Act of 1933 (the &#8220;Securities Act&#8221;) or the Exchange Act,
except as otherwise stated in such filing.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Item 8.01 &#8211; Other
Events</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
October 22, 2009, Rurban issued a news release announcing that its Board of
Directors has approved proceeding with the appropriate filings with the SEC in
connection with the contemplated spin-off of Rurban&#8217;s technology subsidiary,
Rurbanc Data Services, Inc. (&#8220;RDSI&#8221;).&#160;&#160;The contemplated spin-off would
be effected through a dividend of the common shares of RDSI to the shareholders
of Rurban, resulting in RDSI becoming a separate and independent public
company.&#160;&#160;&#160;It is anticipated that the previously-announced merger
of RDSI and New Core Banking Systems will be completed immediately following the
contemplated spin-off of RDSI.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rurban
currently anticipates that the spin-off would be completed in the first quarter
of 2010, subject to the satisfaction of a number of conditions.&#160;&#160;The
conditions include final approval by the Rurban Board of Directors of the
spin-off and its terms, the SEC filings becoming effective under applicable SEC
laws and regulations, the successful conversion of The State Bank and Trust
Company, Rurban&#8217;s banking subsidiary, to New Core Banking Systems&#8217; Single
Source&#8482; software, and the satisfaction of the conditions to the merger between
RDSI and New Core Banking Systems under the terms of the Agreement and Plan of
Reorganization entered into on April 25, 2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rurban
announced the following changes in the executive officers of Rurban and RDSI in
connection with the contemplated spin-off:</font></div>
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    <div>
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              <div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Kenneth
      A. Joyce will continue as Chairman and CEO of RDSI and will also
      temporarily take the role of President of RDSI. &#160;Mr. Joyce, who also
      currently serves as Rurban&#8217;s President and CEO, will relinquish these
      positions and assume the role of Executive Vice Chairman of Rurban
      effective January 1, 2010 through March 31, 2010.&#160;&#160;Following
      this date, Mr. Joyce will maintain a consulting relationship with Rurban
      through the end of 2010 to assist with the
  transition.</font></div>
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    <div>
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              <div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mark
      A. Klein, who currently serves as President and CEO of The State Bank and
      Trust Company, will assume the CEO position at Rurban effective January 1,
      2010.</font></div>
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        </div>
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          <tr valign="top">
            <td align="right" style="WIDTH: 18pt">
              <div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
      upon the completion of the contemplated spin-off, Duane L. Sinn, currently
      Rurban&#8217;s Chief Financial Officer, will be joining RDSI as its Chief
      Financial Officer.&#160;&#160;Rurban is currently conducting a search for
      a new CFO to replace Mr. Sinn.</font></div>
            </td>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
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            <td align="right" style="WIDTH: 18pt">
              <div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Later
      in the fourth quarter of 2009, Henry R. Thiemann will be retiring after
      ten successful years in various positions with Rurban, including the last
      two years as RDSI&#8217;s President.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
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            <td align="right" style="WIDTH: 18pt">
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            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
      upon the completion of the contemplated spin-off and subsequent merger
      between RDSI and New Core Banking Systems, John J. Aranowicz, the founder
      and current CEO of New Core Banking Systems, will be joining RDSI as an
      Executive Vice President with responsibility for Software Development and
      other responsibilities.</font></div>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In its
October 22, 2009 news release, Rurban also announced that it has commenced an
accelerated depreciation expense of its ITI software and associated software in
anticipation of an end to data processing operations using the current ITI
software.&#160;&#160;Rurban commenced the accelerated depreciation expense in
August 2009, with the entire balance of $4.7 million expected to be written-off
by the last half of 2010.&#160;&#160;Additionally, Rurban announced that
non-recurring legal and compliance expenses related to the spin-off, which
expenses began in the first quarter of 2009, will continue to be incurred
through the first quarter of 2010.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In its
October 22, 2009 news release, Rurban also provided an update on RDSI&#8217;s sales
efforts in offering New Core Banking Systems&#8217; Single Source&#8482; software to its
current data processing customers who are now being serviced using ITI
software.&#160;&#160;Rurban announced that it currently has one banking site
utilizing the Single Source&#8482; software, a major conversion scheduled for the
fourth quarter of 2009 (The State Bank and Trust Company), four executed
contracts, and nine letters of intent to convert to the new
software.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A copy of
the October 22, 2009 news release is attached hereto as Exhibit 99.2 and is
incorporated herein by reference.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Additional
Information</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rurban
and/or RDSI plan to make appropriate filings with the SEC concerning the
contemplated spin-off and the merger transaction between RDSI and New Core
Banking Systems.&#160;&#160;Those filings will include a combined information
statement to be delivered to Rurban shareholders in connection with the spin-off
and a proxy statement/disclosure document to be delivered to the New Core
shareholders in connection with the approval of the merger transaction by the
New Core shareholders. The combined information statement/proxy
statement/disclosure document 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 INFORMATION STATEMENT/PROXY STATEMENT/DISCLOSURE
STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC, INCLUDING ANY AMENDMENTS OR
SUPPLEMENTS ALSO FILED WITH THE SEC.&#160;&#160;NEW CORE SHAREHOLDERS IN
PARTICULAR SHOULD READ THE COMBINED INFORMATION STATEMENT/PROXY
STATEMENT/DISCLOSURE DOCUMENT CAREFULLY BEFORE MAKING A DECISION CONCERNING THE
MERGER TRANSACTION.&#160;&#160;Investors and shareholders will be able to obtain
a free copy of the combined information statement/proxy statement/disclosure
document &#8212; along with other filings containing information about Rurban and RDSI
&#8212; at the SEC&#8217;s website at http://www.sec.gov.&#160;&#160;Copies of the combined
information statement/proxy statement/disclosure document, and any filings with
the SEC incorporated by reference in such document, 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:&#160;&#160;(419) 784-2759.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
communication shall not constitute an offer to sell or the solicitation of an
offer to buy any securities nor shall there be any sale of securities in any
jurisdiction in which the offer, solicitation, or sale is unlawful before
registration or qualification of the securities under the securities laws of the
jurisdiction.&#160;&#160;Rurban and RDSI contemplate that the RDSI common shares
to be issued to shareholders of New Core Banking Systems in the merger will not
be registered under the Securities Act of 1933, as amended, in reliance upon an
applicable exemption from registration requirements.&#160;&#160;In this case,
the RDSI common shares issued to shareholders of New Core Banking Systems in the
merger may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Item 9.01 &#8211; Financial
Statements and Exhibits</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;&#160;Not
Applicable</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;&#160;Not
Applicable</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)&#160;&#160;&#160;Not
Applicable</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;&#160;Exhibits</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
      No.</font></font></div>
            </td>
            <td valign="top" width="88%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
            </td>
            <td align="left" valign="top" width="88%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">News
      release issued by Rurban Financial Corp. on October 21, 2009 regarding
      declaration of quarterly shareholder dividend</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td align="left" valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.2</font></div>
            </td>
            <td align="left" valign="top" width="88%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">News
      release issued by Rurban Financial Corp. on October 22, 2009 regarding the
      contemplated spin-off of Rurbanc Data Services,
  Inc.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">RURBAN
      FINANCIAL CORP.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dated:
      October 23, 2009</font></div>
            </td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:&#160;
      <font style="TEXT-DECORATION: underline">/s/ <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Duane
      L.
      Sinn&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      </font></font></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Duane
      L. Sinn</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="42%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Executive
      Vice President and Chief Financial
Officer</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">INDEX TO
EXHIBITS</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br></div>
    <div style="TEXT-ALIGN: center">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Current
Report on Form 8-K</font></div>
    </div>
    <div style="TEXT-ALIGN: center">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated
October 23, 2009</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><br></div>
    <div style="TEXT-ALIGN: center">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rurban
Financial Corp.</font></div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
      No.</font></font></div>
            </td>
            <td valign="top" width="88%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
            </td>
            <td align="left" valign="top" width="88%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">News
      release issued by Rurban Financial Corp. on October 21, 2009 regarding
      declaration of quarterly shareholder dividend</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
            <td align="left" valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.2</font></div>
            </td>
            <td align="left" valign="top" width="88%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">News
      release issued by Rurban Financial Corp. on October 22, 2009 regarding the
      contemplated spin-off of Rurbanc Data Services,
  Inc.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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      </div>
      <div id="PN">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">6</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v163635_ex99-1.htm
<TEXT>
<html>
  <head>
    <title></title>
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">EXHIBIT
99.1</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Immediate
Release</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Investor
Contact:</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Valda
Colbart, 419-784-2759, <font style="DISPLAY: inline; TEXT-DECORATION: underline">rfcinv@rurban.net</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rurban
Financial Corp. Announces Shareholder Dividend</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Defiance,
Ohio &#8211; October 21, 2009 &#8211; Rurban Financial Corp. (NASDAQ: RBNF), a leading
provider of full-service community banking, investment management, trust
services and bank data and item processing, announced their quarterly
shareholder dividend will be $0.09 per share.&#160;&#160;The dividend is payable
on November 20, 2009 to all shareholders of record on November 6,
2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Kenneth
A. Joyce, President and Chief Executive Officer, commented, &#8220;We are pleased to
announce that the Board of Directors approved a quarterly cash dividend at their
meeting on October 21, 2009.&#8221;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">About Rurban Financial
Corp.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rurban
Financial Corp. is a publicly-held financial services holding company based in
Defiance, Ohio.&#160;&#160;Rurban&#8217;s wholly-owned subsidiaries are The State Bank
and Trust Company, including Reliance Financial Services and RDSI Banking
Systems (RDSI), including DCM.&#160;&#160;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.&#160;&#160;Reliance Financial Services, a division of the Bank, offers a
diversified array of trust and financial services to customers throughout the
Midwest.&#160;&#160;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.&#160;&#160;Rurban&#8217;s common stock
is quoted on the NASDAQ Global Market under the symbol RBNF.&#160;&#160;The
Company currently has 10,000,000 shares of stock authorized and 4,861,779 shares
outstanding.&#160;&#160;The Company's website is <font style="DISPLAY: inline; TEXT-DECORATION: underline">http://www.rurbanfinancial.net</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Forward-Looking
Statements</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.&#160;&#160;Forward-looking statements
involve risks and uncertainties and actual results may differ materially from
those predicted by the forward-looking statements.&#160;&#160;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.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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 except as
required by law.&#160;&#160;All subsequent written and oral forward-looking
statements attributable to Rurban or any person acting on our behalf are
qualified by these cautionary statements.</font></div>
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<TYPE>EX-99.2
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    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">EXHIBIT
99.2</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Immediate
Release</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-STYLE: italic">Investor
Contact:</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Valda
Colbart, 419-784-2759, <font style="DISPLAY: inline; TEXT-DECORATION: underline">rfcinv@rurban.net</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Rurban
Financial Corp. Prepares For Planned Spin-off of RDSI </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Banking
Systems</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Defiance,
Ohio &#8211; October 22, 2009 &#8211; Rurban Financial Corp. (NASDAQ: RBNF), a leading
provider of full-service community banking, investment management, trust
services and bank data and item processing, announced that its Board of
Directors has approved proceeding with the appropriate filings with the SEC in
connection with the contemplated spin-off of Rurban&#8217;s technology subsidiary,
Rurbanc Data Services, Inc. (&#8220;RDSI Banking Systems&#8221;).&#160;&#160;Rurban and RDSI
Banking Systems are in the process of preparing the SEC filings and plan to
begin filing with the SEC within the next few weeks.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rurban
currently anticipates that the spin-off would be completed in the first quarter
of 2010, subject to the satisfaction of a number of conditions.&#160;&#160;The
conditions include final approval by the Rurban Board of Directors of the
spin-off and its terms, the SEC filings becoming effective under applicable SEC
laws and regulations, the successful conversion of The State Bank and Trust
Company, Rurban&#8217;s banking subsidiary, to New Core Banking Systems&#8217; Single
Source&#8482; software, and the satisfaction of the conditions to the merger between
RDSI Banking Systems and New Core Banking Systems under the terms of the
Agreement and Plan of Reorganization entered into on April 25,
2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
contemplated spin-off would be effected through a dividend of the common shares
of RDSI Banking Systems to the shareholders of Rurban, resulting in RDSI Banking
Systems becoming a separate and independent public company.&#160;&#160;The
shareholders of Rurban would retain their shares of Rurban, which would continue
as a publicly-held corporation with The State Bank and Trust Company as its
primary holding. The State Bank and Trust Company has assets of approximately
$650 million and operates in the Northwest corner of Ohio with lending services
in Columbus, Ohio and a banking center in Fort Wayne, Indiana.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">It is
anticipated that the merger of RDSI Banking Systems and New Core Banking Systems
will be completed immediately following the contemplated spin-off of RDSI
Banking Systems.&#160;&#160;As previously announced, the shareholders of New
Core Banking Systems will be entitled to receive up to 31% of the outstanding
common shares of RDSI Banking Systems immediately following the
merger.&#160;&#160;The issuance of the common shares to the shareholders of New
Core Banking Systems in the merger will have the effect of diluting the
ownership percentage represented by the common shares of RDSI Banking Systems
received by Rurban shareholders in the spin-off, and RDSI Banking Systems will
own the intellectual property of New Core Banking Systems by virtue of the
merger.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Following
the spin-off, RDSI Banking Systems will continue as a data and item processing
company.&#160;&#160;RDSI is already offering New Core Banking Systems&#8217; Single
Source&#8482; software to its current data processing customers who are now being
serviced using ITI software. The sales process of offering the Single Source&#8482;
software is a complex effort involving software presentations, viewing of test
software, and the individual bank client&#8217;s due diligence, concluding with
approval by the client&#8217;s board of directors. While RDSI anticipates loss of some
banking clients, RDSI is encouraged that it currently has one banking site
utilizing the software, a major conversion scheduled for the fourth quarter of
2009 (The State Bank and Trust Company), four executed contracts, and nine
letters of intent to convert to the new software. RDSI currently has 49
proposals submitted to various banks. RDSI believes this represents the largest
launch of a new core banking system in the U.S.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Anticipating
an end to data processing operations using the current ITI software, Rurban
commenced an accelerated depreciation expense of its ITI software and associated
software starting in August 1, 2009, with the entire balance of $4.7 million
expected to be written-off by the last half of 2010. Non-recurring legal and
compliance expenses will also be incurred as the documentation for the spin-off
is completed and the transition is executed. These expenses began in the first
quarter of 2009 and will continue through the first quarter of
2010.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As part
of the spin-off, there will be a number of executive changes affecting the new
RDSI Banking Systems and Rurban. Kenneth A. Joyce will continue as Chairman and
CEO of RDSI Banking Systems and will also temporarily take the role of President
of RDSI Banking Systems. Henry R. Thiemann will be retiring in the fourth
quarter of 2009 after ten successful years in various positions with Rurban,
including the last two years as RDSI Banking Systems&#8217; President. Duane L. Sinn,
currently Rurban&#8217;s Chief Financial Officer, will be joining RDSI Banking Systems
as its Chief Financial Officer effective upon the completion of the contemplated
spin-off. John J. Aranowicz, the founder and current CEO of New Core Banking
Systems, will be joining RDSI Banking Systems as an Executive Vice President
with responsibility for Software Development and other
responsibilities.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rurban&#8217;s
post spin-off executive management structure will reflect these anticipated
changes. The State Bank and Trust Company, including the trust operation of
Reliance Financial Services, will continue under the leadership of Mark A.
Klein, President and CEO, who will also be assuming the CEO responsibility for
Rurban effective January 1, 2010.&#160;&#160;Mr. Joyce, who currently serves as
Rurban&#8217;s President and CEO, will assume the role of Executive Vice Chairman of
Rurban effective January 1, 2010 through March 31, 2010. Following this date,
Mr. Joyce will maintain a consulting relationship with Rurban through the end of
2010 to assist with the transition.&#160;&#160;Rurban is currently conducting a
search for a new CFO to replace Mr. Sinn.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Kenneth
A. Joyce, President and CEO of Rurban Financial Corp., commented, &#8220;The Board has
elected to move forward with the strategic course laid out over the past several
years.&#160;&#160;Assuming the completion of the spin-off, this strategic change
will result in RDSI becoming an independent company with the ability to grow and
create its valuation using proprietary intellectual property, while continuing
to provide outstanding service, and a world-class sales process.&#160;&#160;It
also provides The State Bank and Trust Company, Rurban&#8217;s banking subsidiary,
banking development opportunities while retaining the stability of
Rurban.&#160;&#160;We have exciting times and challenges ahead, but we are
looking forward to the success of both companies.&#160;&#160;I have mentioned in
the past that we believed that the valuation of RDSI was hidden within Rurban&#8217;s
stock.&#160;&#160;This action will provide the means for RDSI&#8217;s value to be
recognized within the market, and with this spin-off, we believe we&#8217;ve found an
excellent opportunity for RDSI to obtain fair valuation.&#8221;</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">About Rurban Financial
Corp.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rurban
Financial Corp. is a publicly-held financial services holding company based in
Defiance, Ohio.&#160;&#160;Rurban&#8217;s wholly-owned subsidiaries are The State Bank
and Trust Company, including Reliance Financial Services and RDSI Banking
Systems (RDSI), including DCM.&#160;&#160;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.&#160;&#160;Reliance Financial Services, a division of the Bank, offers a
diversified array of trust and financial services to customers throughout the
Midwest.&#160;&#160;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.&#160;&#160;Rurban&#8217;s common stock
is quoted on the NASDAQ Global Market under the symbol RBNF.&#160;&#160;The
Company currently has 10,000,000 shares of stock authorized and 4,861,779 shares
outstanding.&#160;&#160;The Company's website is <font style="DISPLAY: inline; TEXT-DECORATION: underline">http://www.rurbanfinancial.net</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Forward-Looking
Statements</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.&#160;&#160;Forward-looking statements
involve risks and uncertainties and actual results may differ materially from
those predicted by the forward-looking statements.&#160;&#160;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.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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 except as
required by law.&#160;&#160;All subsequent written and oral forward-looking
statements attributable to Rurban or any person acting on our behalf are
qualified by these cautionary statements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Additional
Information</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rurban
and/or RDSI plan to make appropriate filings with the SEC concerning the
contemplated spin-off and the merger transaction between RDSI Banking Systems
and New Core Banking Systems.&#160;&#160;Those filings will include a combined
information statement to be delivered to Rurban shareholders in connection with
the spin-off and a proxy statement/disclosure document to be delivered to the
New Core shareholders in connection with the approval of the merger transaction
by the New Core shareholders. The combined information statement/proxy
statement/disclosure document 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 INFORMATION STATEMENT/PROXY STATEMENT/DISCLOSURE
STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC, INCLUDING ANY AMENDMENTS OR
</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SUPPLEMENTS
ALSO FILED WITH THE SEC.&#160;&#160;NEW CORE SHAREHOLDERS IN PARTICULAR SHOULD
READ THE COMBINED INFORMATION STATEMENT/PROXY STATEMENT/DISCLOSURE DOCUMENT
CAREFULLY BEFORE MAKING A DECISION CONCERNING THE MERGER
TRANSACTION.&#160;&#160;Investors and shareholders will be able to obtain a free
copy of the combined information statement/proxy statement/disclosure document &#8212;
along with other filings containing information about Rurban and RDSI &#8212; at the
SEC&#8217;s website at http://www.sec.gov.&#160;&#160;Copies of the combined
information statement/proxy statement/disclosure document, and any filings with
the SEC incorporated by reference in such document, 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:&#160;&#160;(419) 784-2759.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
communication shall not constitute an offer to sell or the solicitation of an
offer to buy any securities nor shall there be any sale of securities in any
jurisdiction in which the offer, solicitation, or sale is unlawful before
registration or qualification of the securities under the securities laws of the
jurisdiction.&#160;&#160;Rurban and RDSI contemplate that the RDSI common shares
to be issued to shareholders of New Core Banking Systems in the merger will not
be registered under the Securities Act of 1933, as amended, in reliance upon an
applicable exemption from registration requirements.&#160;&#160;In this case,
the RDSI common shares issued to shareholders of New Core Banking Systems in the
merger may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.</font></div>
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