Sistersville Bancorp, Inc. to Merge With My Financial Company

Parkersburg, WV (PRWEB) July 19, 2007

My Financial Company and Sistersville Bancorp, Inc. today jointly announced the signing of a definitive merger agreement whereby Sistersville Bancorp, Inc. and its wholly owned subsidiary, First Federal Savings Bank would merge with My Financial Company.

Sistersville Bancorp, Inc. is headquartered in Sistersville, West Virginia and operates a branch office in Parkersburg, West Virginia. As of March 31, 2007, Sistersville Bancorp, Inc. had $52.2 million in total assets, $30.6 million in net loans, $38.3 million in total deposits and $8.5 million of shareholders' equity. Sistersville Bancorp, Inc's stock is listed under the symbol, "SVBC.PK."

The transaction has been unanimously approved by the boards of directors of both companies and is subject to shareholder and regulatory approvals, as well as other customary conditions of closing. The transaction is expected to be completed during the fourth quarter of 2007. Under the terms of the merger agreement, Sistersville Bancorp, Inc.'s shareholders will receive cash in the amount of $29.15 per share for a total transaction value of approximately $11.3 million, which includes payout of all outstanding options.

My Financial Company aims to provide an integrated services platform with convenient access to banking, mortgage, and financial services. My Financial Company also intends to leverage technological advances and create greater opportunities for employment and economic success both in West Virginia and elsewhere.

The Chairman of My Financial Company, Darek S. Spring had this to say. "We are proud to announce our first bank acquisition and are excited to work with such an excellent institution as First Federal Savings Bank. We have been impressed by the First Federal Savings Bank franchise, their experienced team of professionals, and their commitment to the creation of a strong partnership. We look forward to combining our resources in the continued service to the residents of West Virginia."

Mr. Spring continued, "We have informed our shareholders and potential investors, that upon consummation of this transaction, our major initiatives will be to move a portion of our mortgage operations to the bank and to expand the branch operations of the bank itself."

The President of First Federal Savings Bank, Stanley M. Kiser stated. "We are pleased to announce that upon closing of the proposed transaction, First Federal Savings Bank plans to expand its banking and mortgage operations in West Virginia and in other states. As we continue to grow our franchise, we look to add to our already strong line of products, providing potential for greater profitability and more opportunities for expansion into other attractive markets. We believe that in the future we will become a unique community bank, serving the needs of both customers and employees, and maintaining the strong tradition of service that dates back to 1933. My Financial is a good fit for us, due both to product offerings, and the fact that our staff will be retained and given opportunities to grow with the combined companies."

Upon closing of the transaction, Stanley M. Kiser will remain as President and CEO of First Federal Savings Bank and will also be named President and CEO of the holding company. The board of directors of My Financial Company will consist of eight directors. Three members; Kiser, Michael Melrose and Christina Palmer, will be from the current board of First Federal Savings Bank. One additional director from the First Federal market area will be named at closing. My Financial Company will add Darek Spring, William Rogers and two additional individuals to the board. In preparation for the future, My Financial Company has also assembled an advisory board of seasoned professionals. This advisory board includes CPAs, International Banking Consultants, Strategy Tacticians, and a former executive of Apple Computer.

Darek Spring summarized this exciting development saying, "2007 has become an incredible year for My Financial Company and I can think of no better way to begin the second half of 2007 than with this announcement. We believe the combination of My Financial Company and Sistersville Bancorp, Inc. will create a template for how a community banking franchise will operate in the future. We are confident that this strategic acquisition is in the best long-term interests of all parties, shareholders, employees and customers."

T. Stephen Johnson & Associates Inc. served as the financial advisor to My Financial Company while Howe Barnes Hoefer & Arnett, Inc. advised Sistersville Bancorp, Inc.

Forward-Looking Statements

The matters discussed may contain forward-looking statements with the meaning of the Private Securities Litigation Reform Act of 1995. The accuracy of such forward-looking information is necessarily subject to and involves risk and uncertainties, which could cause actual results to differ materially from forward-looking statements. These risks and uncertainties include but are not limited to, general economic conditions, competition, regulatory approval, and other factors.

When used in this release, the words "believes," "estimates," "plans," "expects," "should," "will," "may," "outlook," "likely," and "anticipates" or similar expressions are intended to identify forward-looking statements.

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