Camco Financial Corporation Announces Fully Subscribed Offering

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| Source: Camco Financial Corporation

CAMBRIDGE, Ohio, Nov. 2, 2012 (GLOBE NEWSWIRE) -- Camco Financial Corporation (Nasdaq:CAFI), the parent company of Advantage Bank, today announced that it has processed rights subscriptions for approximately $9.4 million of its common stock. Although the rights offering expired on November 1, 2012, because of complications related to Hurricane Sandy, the subscription agent is still processing subscriptions.

Based on the preliminary results, Camco expects that the rights offering may be subscribed for the offering maximum of $10.0 million. However, Camco launched the public phase of the offering today in case the rights offering is not fully subscribed. Camco has already received unsolicited commitments from directors and insiders in an aggregate amount that would cause the offerings to be fully subscribed at $10.0 million.   Accordingly, Camco will not solicit purchases from any other persons in the public offering. Camco anticipates that it will issue common stock and warrants as soon as possible after November 7, 2012. 

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any offer, solicitation or sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of the securities under the securities laws of such state. The rights offering will be made only by means of the prospectus dated September 24, 2012, copies of which were mailed to all record date stockholders. You may obtain a free copy of the prospectus by visiting EDGAR on the SEC Website at www.sec.gov or you may request a copy of the prospectus by contacting the information agent for the rights offering, ParaCap Group, LLC at 6150 Parkland Boulevard, Suite 250, Cleveland, OH 44124, (866) 404-2951.

About Camco Financial Corporation and Advantage Bank

Camco Financial Corporation, holding company for Advantage Bank, is a multi-state bank holding company headquartered in Cambridge, Ohio. Advantage Bank offers community banking that includes commercial, business and consumer financial services and internet banking from 22 offices. Additional information about Camco Financial may be found on the Company's web sites: www.camcofinancial.com or www.advantagebank.com.

The Camco Financial Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4639

The words or phrases "will likely result," " expects," "will continue," "is anticipated," "estimate," "project" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties including changes in economic conditions in Camco's market area, changes in policies by regulatory agencies, fluctuations in interest rates, demands for loans in Camco's market area and competition, that could cause actual results to differ materially from what is presently anticipated or projected. Camco wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Camco does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

James E. Huston, CEO
John E. Kirksey, CFO
Phone:  740-435-2020