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For Immediate Release Contact:

April 30, 2008

Nancy Bahre Senior Vice President & Chief Financial Officer Town and Country Financial Corporation PO Box 13255 3601 W. Wabash Ave. Springfield, IL 62791-3255 (217) 787-3100 nbahre@townandcountrybank.com

Town and Country Financial Corporation Announces First Quarter 2008 Net Income Springfield, Illinois—Town and Country Financial Corporation announced first quarter 2008 net income of $186 thousand, or $0.07 per share. This compares with earnings of $290 thousand, or $0.10 per share in the first quarter of 2007. Earnings per share of $0.07 were down 30% compared to the earnings per share of $0.10 in the year ago period. The first quarter net revenue was up $287 thousand or 9.7% over the first quarter 2007.

As of March 31, 2008, total assets were $365 million, total loans net of the allowance for loan losses were $232 million, and total deposits were $293 million. Loan loss reserves were maintained at $3.1 million, or 1.32% of loans outstanding, and are up from 1.16% in the year ago period. Equity capital was $32 million, or 9% of assets, and book value per share was $11.33. Commenting on the quarter, Chairman and CEO David Kirschner noted, “First quarter performance was in line with our expectations, based on several strategies underway to improve the company’s long-term revenue growth. Success of these initiatives is evidenced by the net revenue growth in the first quarter compared to a year ago. At a time when the wider banking industry is experiencing some market-based challenges, we are happy to report strong demand for our products in our mortgage, commercial, and retail lines of business. In addition, we are finding a renewed interest from consumers to do business with strongly capitalized, local financial institutions.”


The Board of Directors declared a $0.05per share quarterly cash dividend payable on June 13, 2008to stockholders of record June 1, 2008.

Shares of common stock of Town and Country Financial Corporation are quoted on the OTC Bulletin Board under the symbol TWCF (CUSIP # 892039108). As of April 2008, the following market makers are registered to quote stock issued by Town and Country Financial Corporation on the OTCBB: Automated Trading Desk Financial Services, LLC, Ferris Baker Watts Incorporated, Hudson Securities, Inc., Hill Thompson Magid & Co, Inc., Howe Barnes Investments, Inc., Monroe Securities, Inc., McAdams Wright Ragen, Inc., Knight Equity Markets, L.P., Pershing LLC, and UBS Securities LLC (UBSS).

Town and Country Financial Corporation is the parent holding company for Town & Country Bank of Springfield, Logan County Bank in Lincoln, Town & Country Bank in Buffalo, Mt. Zion, and Forsyth, Town & Country Banc Mortgage Services, Inc., and Town & Country Insurance Services, LLC.


2008_1Q-Earnings_Town-and-Country-Financial-Corp_0  

http://www.townandcountrybank.com/sites/default/files/2008_1Q-Earnings_Town-and-Country-Financial-Corp_0.pdf

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