DEFIANCE, Ohio, Feb. 18, 2009 (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 its technology subsidiary, RDSI Banking Systems, has entered into a sixty-three month contract with Bank of Elgin located in Elgin, Nebraska to provide the Bank with data processing services.
Gary Arehart, Executive Vice President of Bank of Elgin, noted, "The ability to service our Bank was an important factor in our decision." Arehart continued, "The availability of local support with the knowledge and experience of the ITI product that the partnership of RDSI and The Cattle National Bank can provide is critical to our bank." Bank of Elgin domiciled in Elgin, NE has assets of $43 million.
Hank Thiemann, President of RDSI, commented, "RDSI is dedicated to being a technology solutions partner supporting Bank of Elgin. Our Value Proposition clearly defines our commitment and personal approach in providing world class technology solutions and unparalleled expert service. We look forward to a longstanding relationship."
"The Bank of Elgin is a welcome addition to our data processing family," stated Kenneth A. Joyce, President and CEO of Rurban. "The partnership that is formed between RDSI and our client banks is a direct result of the dedication of the RDSI team to provide strong technology and personalized service in every transaction."
RDSI will be providing core data processing services and support of banking products. Bank of Elgin will be utilizing the partnership with The Cattle National Bank and Trust Company, based in Seward, Nebraska, for their item processing needs and back counter electronic capture of items.
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 RDSI Banking Systems (RDSI), including DCM. The State Bank and Trust Company offers financial services through its 22 banking centers in Allen, Defiance, Fulton, Lucas, Paulding, Williams 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, Kansas, 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 4,876,255 shares outstanding. The Company's website is http://www.rurbanfinancial.net.