OAKF Oak Hill Financial (MM)

JACKSON, Ohio, April 18 /PRNewswire-FirstCall/ -- Oak Hill Financial, Inc. (NASDAQ:OAKF) announced today that its insurance affiliate, Oak Hill Financial Insurance Agency, Inc., has acquired the assets of Meeker & Meeker, Inc., a privately-held insurance agency located in Franklin, Ohio. The all- cash transaction closed on April 16, 2007. Meeker & Meeker specializes in commercial and personal property and casualty insurance. Founded in 1884, the agency serves the insurance needs of over 1,200 businesses, families, and individuals in Southwestern Ohio. Oak Hill Financial Insurance Agency will continue to use the Meeker & Meeker name in its local market areas. Fred Farmer, President and CEO of Meeker & Meeker, has become a Senior Vice President of Oak Hill Financial Insurance and will oversee all of Oak Hill's commercial insurance lines. "Meeker & Meeker is one of the oldest insurance agencies in Southwestern Ohio, and it is very highly respected throughout the region," said R. E. Coffman, Jr., President and CEO of Oak Hill Financial, Inc. "Fred Farmer has done a tremendous job of carrying on his family's tradition of service to their clients. He and his staff will make great additions to our team." Oak Hill Financial expects the transaction to be immediately accretive to earnings per share. "At Meeker & Meeker's current production levels, we expect that this transaction will add about $.01 per share annually to our earnings," stated Coffman. "Of course, we believe there is strong potential for further growth in the agency." Coffman explained that the Meeker & Meeker acquisition is part of Oak Hill Financial's long-term strategy. "One of our long-term goals is diversification of revenues within the financial services industry," he said, "and we've targeted insurance services as a key growth area for the company to complement our banking operations." Oak Hill Financial's expenses related to the transaction were minimal. Porter, Wright, Morris & Arthur LLP served as legal counsel to Oak Hill Financial in connection with the transaction. Oak Hill Financial is a financial holding company headquartered in Jackson, Ohio. Its subsidiary, Oak Hill Banks, operates 37 full-service banking offices and one bank loan production office in 16 counties across southern and central Ohio. A second subsidiary, Oak Hill Financial Insurance Agency, provides group health plans, property and casualty insurance, benefits administration, and other insurance services to business and public-sector organizations throughout the same region. The company also holds 49% of Oak Hill Title Agency, LLC, which provides title services for commercial and residential real estate transactions. Forward-Looking Statements Disclosure This release contains certain forward-looking statements related to the future performance and condition of Oak Hill Financial, Inc. These statements, which are subject to numerous risks and uncertainties, are presented in good faith based on the company's current condition and management's understanding, expectations, and assumptions regarding its future prospects as of the date of this release. Actual results could differ materially from those projected or implied by the statements contained herein. The factors that could affect the company's future results are set forth in the periodic reports and registration statements filed by the company with the Securities and Exchange Commission. DATASOURCE: Oak Hill Financial, Inc. CONTACT: David G. Ratz, Executive Vice President, Oak Hill Financial, Inc., +1-740-286-3283

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