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Fo r Im m e d ia te Re le a s e Conta ct:

Oc to b e r 31, 2008

Na ncy Ba hre S e nior Vice P re s ide nt & Chie f Fina ncia l Office r Town a nd Country Fina ncia l Corpora tion P O Box 13255 3601 W. Wa ba s h Ave . S pringfie ld, IL 62791-3255 (217) 787-3100 nba hre @towna ndcountryba nk.com

To wn a n d Co u n try Fin a n c ia l Co rp o ra tio n Re p o rts Th ird Qu a rte r 2008 Ne t In c o m e a n d De c la re s Qu a rte rly Divid e n d S pringfie ld, Illinois —Town a nd Country Fina ncia l Corpora tion (TWCF) re porte d third-qua rte r 2008 ne t income of $103 thous a nd, or $0.04 pe r s ha re , including a n $878 thous a nd cha rge for Othe r tha n Te mpora ry Impa irme nt on Fa nnie Ma e a nd Fre ddie Ma c pre fe rre d s e curitie s , following the gove rnme nt’s cons e rva tors hip of thos e e ntitie s , a ga in of $464 thous a nd on the s a le of e quity s e curitie s , a nd a $215 thous a nd be ne fit from a ccounting a djus tme nts re la te d to de fe rre d ta x ite ms a nd de fe rre d loa n cos ts . Excluding the s e non-re curring ite ms , curre nt qua rte r ne t income wa s $301 thous a nd, or $0.11 pe r s ha re compa re d to third-qua rte r 2007 ne t income of $162 thous a nd or $0.06 pe r s ha re .

Ye a r-to-da te 2008 ne t income wa s $527 thous a nd, or $0.19 pe r s ha re . Adjus te d to e xclude the non-re curring ite ms , ne t income wa s $725 thous a nd, or $0.26 pe r s ha re , compa re d to e a rnings of $795 thous a nd, or $0.28 pe r s ha re in the compa ra ble ye a r-a go pe riod a djus te d to e xclude a ga in of the s a le of e quity s e curitie s a nd a one -time pe rs onne l cha rge . On a ye a r ove r ye a r ba s is , our ne t re ve nue e xclus ive of non-re curring ite ms incre a s e d $674 thous a nd, or 7.3%.

As of S e pte mbe r 30, 2008, tota l a s s e ts we re $365 million, tota l loa ns we re $230 million, a nd tota l de pos its we re $292 million. Equity ca pita l wa s $27 million a nd the re porte d book va lue wa s $9.71 pe r s ha re . Impa cting e quity ca pita l a nd book va lue pe r s ha re wa s a de cline in Accumula te d Compre he ns ive Income of $3.6 million due to ma rke t va lue a djus tme nts a s follows :


ce rta in poole d trus t pre fe rre d s e curitie s with a cos t of $10.7 million a nd a re corde d va lue of $5.5 million on S e pte mbe r 30 compa re d to $9.1 million on J une 30. The s e curitie s we re not de e me d to be impa ire d on S e pte mbe r 30.

de cline in unre a lize d ga in on e quity s e curitie s of $2.9 million during the qua rte r, $760 thous a nd due to a ctua l s a le s a nd $2.1 million due to a de cre a s e in the ma rke t va lue .

The compa ny’s e s tima te d tota l ris k-ba s e d ca pita l ra tio wa s 15.97% a t S e pte mbe r 30, 2008 a nd e a ch of the thre e s ubs idia ry ba nks re ma in we ll-ca pita lize d ba s e d on re gula tory s ta nda rds . The a llowa nce for loa n los s e s wa s 1.31% of loa ns outs ta nding a t S e pte mbe r 30, 2008.

Cha irma n a nd CEO Da vid Kirs chne r note d, “Although the S EC a nd Fina ncia l Accounting S ta nda rds Boa rd is s ue d cla rifica tion to the ma rk-to-ma rke t a ccounting rule s a llowing compa nie s to us e the ir own fina ncia l mode ls a nd judgme nt for the va lua tion of ce rta in a s s e ts , we continue to us e inde pe nde nt third pa rty va lua tions for s e curitie s he ld in our inve s tme nt portfolio. We a re ple a s e d tha t de s pite s ignifica nt cha lle nge s in the indus try a nd e conomy, our ba nks e a ch re ma in s trong a nd we a re optimis tic a bout the future of community ba nking.”

The Boa rd of Dire ctors de cla re d a $0.05 pe r s ha re qua rte rly ca s h divide nd pa ya ble on De ce mbe r 15, 2008 to s tockholde rs of re cord De ce mbe r 1, 2008.

S ha re s of common s tock of Town a nd Country Fina ncia l Corpora tion a re quote d on the OTC Bulle tin Boa rd unde r the s ymbol TWCF (CUS IP # 892039108). As of Octobe r, 2008, the following ma rke t ma ke rs a re re gis te re d to quote s tock is s ue d by Town a nd Country Fina ncia l Corpora tion on the OTCBB: Automa te d Tra ding De s k Fina ncia l S e rvice s , LLC, Dome s tic S e curitie s , Inc., Fe rris Ba ke r Wa tts Incorpora te d, Huds on S e curitie s , Inc., Hill Thomps on Ma gid & Co, Inc., Howe Ba rne s Inve s tme nts , Inc., Monroe S e curitie s , Inc., McAda ms Wright Ra ge n, Inc., Knight Equity Ma rke ts , L.P ., a nd P e rs hing LLC.

Town a nd Country Fina ncia l Corpora tion is the pa re nt holding compa ny for Town & Country Ba nk of S pringfie ld, Loga n County Ba nk in Lincoln, Town & Country Ba nk in Buffa lo, Mt. Zion, a nd Fors yth, Town & Country Ba nc Mortga ge S e rvice s , Inc., a nd Town & Country Ins ura nce S e rvice s , LLC.


2008_3Q-Earnings_Town-and-Country-Financial-Corp_0  

http://www.townandcountrybank.com/sites/default/files/2008_3Q-Earnings_Town-and-Country-Financial-Corp_0.pdf

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