DEFIANCE, Ohio, Oct. 6, 2008 (GLOBE NEWSWIRE) -- Rurban Financial Corp. (Nasdaq:RBNF), a leading provider of full-service community banking, investment management, trust services and bank data and item processing, today announced Rurbanc Data Services, Inc. (RDSI), has entered into an agreement with Kirkwood Bank of Nevada, located in Las Vegas, Nevada, to provide data and item processing services. After receiving regulatory approval, the Kirkwood Bank of Nevada began banking operations in Las Vegas, Nevada on June 2, 2008. RDSI is the data and item processing subsidiary of Rurban Financial Corp. serving 117 community banks in ten states.
Dennis DeGree, President of Kirkwood Bank, chose RDSI as its technology partner, in part, because of RDSI's exceptional market reputation. "We felt RDSI's expertise, state-of-the-art technology and proven track record in the De Novo arena would greatly benefit us and help ensure our long-term success in the marketplace," stated Mr. DeGree.
"We are pleased to be working with Kirkwood Bank and are dedicated to being a vital, contributing technology partner, as we have been entrusted with a key role in their future success as a community bank," commented Hank Thiemann, President of RDSI. Mr. Thiemann continued, "This is RDSI's second client in the growing Nevada market, and we are optimistic about the potential growth opportunities that are available in this new market."
Kenneth A. Joyce, President and CEO of Rurban, stated, "Kirkwood Bank is a welcome addition to the RDSI family of clients. We are experiencing an increase of client banks joining RDSI for their data and item processing needs. This success lends credibility to RDSI's Value Proposition of providing excellent customer service and being committed to being a technology leader."
RDSI will provide core data processing services including feature rich Internet Banking and Corporate Cash Management services. Kirkwood Bank will utilize RDSI's Image Capture Item Processing solution for their Item Processing needs.
About Rurban Financial Corp.
Rurban Financial Corp. is a publicly-held financial services holding company based in Defiance, Ohio. Rurban's wholly-owned subsidiaries are The State Bank and Trust Company, including Reliance Financial Services and Rurbanc Data Services, Inc. (RDSI), including DCM. The State Bank and Trust Company offers financial services through its 17 branches in Allen, Defiance, Fulton, Lucas, Paulding and Wood Counties, Ohio and Allen County, Indiana and a Loan Production Office in Franklin County, Ohio. Reliance Financial Services, a division of the Bank, offers a diversified array of trust and financial services to customers throughout the Midwest. RDSI and DCM provide data and item processing services to community banks in Arkansas, Florida, Illinois, Indiana, Michigan, Missouri, Nebraska, Nevada, Ohio and Wisconsin. Rurban's common stock is quoted on the NASDAQ Global Market under the symbol RBNF. The Company currently has 10,000,000 shares of stock authorized and 4,905,426 shares outstanding. The Company's website is http://www.rurbanfinancial.net.