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Press Releases

March 31, 2010

Rbancshares, Inc. Finalizes Closing Arrangements on The Ohio State Bank

On March 31, 2010, Rbancshares, Inc. finalized closing arrangements on The Ohio State Bank headquartered in Marion, Ohio. With the finalized closing, Rbancshares, Inc. (“RBS”) is providing $7 million in new capital to The Ohio State Bank. The new capital is to be used to restore The Ohio State Bank’s regulatory capital ratios which now exceed the regulatory definition of a well-capitalized bank.

The Ohio State Bank, with offices in Marion, Richwood, Green Camp and Lewis Center, Ohio, is now in a stronger financial position. There will be no changes to existing client account numbers, client records or current Ohio State Bank products as a result of this alliance with RBS.

Mr. Shawn Keller, the new president and chief executive officer of The Ohio State Bank, said this alliance with RBS will allow The Ohio State Bank to continue to service existing clients with current Ohio State Bank personnel and provide a greater level of client service in the future. “The Ohio State Bank has been a cornerstone in our community for over 20 years. The Marion market provides a strong base for us, while our Lewis Center facility will allow future expansion in the Delaware and Westerville, Ohio markets” said Keller. Mr. Keller will also continue to serve as president of RBS.

A new board of directors and management team comprised of local business leaders will oversee The Ohio State Bank and maintain a commitment to serving clients in Central Ohio. The new board of directors consists of:

• Ted McKinniss – Marion attorney
• Thurman Mathews – Marion auto dealer
• Jon Sisler – Marion business owner
• Roger Vanover – Marion business owner
• Marc Tortora – Certified public accountant
• Rick Rano – Commercial real estate broker
• Judi DeVillers – former Commerce National Bank board member
• Dr. Doug Fosselman – Member of the Central Ohio Primary Care Corporation
• Jim Deer – The Ohio State Bank’s chief financial officer
• Shawn Keller – President and chief executive officer of The Ohio State Bank

Bill Daily of Marion, Ohio will serve as The Ohio State Bank’s chief credit officer and Dean Lucas of Dublin, Ohio will serve as senior development officer. According to Keller, “The improved financial condition of The Ohio State Bank allows us to focus on our mission to deliver excellence to all we serve. It’s also vital that we maintain local ownership and are managed by people with a shared commitment to our local communities. While our ‘big bank’ competitors from New York and Pittsburgh, among others, restrict lending in our area, we intend to be part of the local economic solution through support of small businesses, home owners, agriculture and the citizens in our area.”

On March 31, 2010, a letter announcing and explaining this new alliance between RBS and The Ohio State Bank was sent to all existing Ohio State Bank clients.

RBS is a bank holding company headquartered in the Lewis Center office of The Ohio State Bank. RBS was formed for the purpose of raising the capital necessary to bring financial stability to The Ohio State Bank. With no individual owning more than eight percent of the company, RBS is owned by just under 100 shareholders from Marion and the surrounding Central Ohio area

For additional information, please contact Shawn Keller at (614) 574-0044.

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December 15, 2009

Stock Purchase Agreement Approved

Michael J. Lamping, Chairman, President and CEO of Ohio State Bancshares, Inc. and The Ohio State Bank, reported the results of the special shareholders meeting held in Marion, Ohio. The Ohio State Bancshares Inc. shareholders approved the Stock Purchase Agreement, dated October 21, 2009 with Rbancshares, Inc.

In addition, the shareholders authorized additional Common shares and a new issue of Preferred stock in order to facilitate the proposed transaction.

The Agreement provides for a $6 million capital investment from Rbancshares, Inc. in exchange for a controlling interest in Ohio State Bancshares, Inc. The companies have filed the applicable applications and are waiting to receive the necessary Regulatory approvals to consummate the Stock Purchase Agreement.

For additional information, please contact Mr. Lamping at (740) 387-2265.

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October 22, 2009

Purchase Agreement signed with Rbancshares, Inc.

Shawn P. Keller, President and CEO of Rbancshares, Inc. and Michael J. Lamping, Chairman, President and CEO of Ohio State Bancshares, Inc. announced today that their respective companies signed a stock purchase agreement on October 20, 2009. The Agreement provides for a $6 million capital investment from Rbancshares, Inc. in exchange for a controlling ownership interest in Ohio State Bancshares, Inc. The capital will be used to restore The Ohio State Bank’s regulatory capital ratios to "well capitalized" and satisfy the most important step for the Bank to be in compliance with the Cease and Desist order issued by the FDIC and State of Ohio Division of Financial Institutions in August of 2009.

Rbancshares, Inc’s Directors and Organizers have been working to organize and open a new community bank in central Ohio to be named Rbank. The plans for Rbank were put on hold after this opportunity surfaced. The Ohio State Bank was chartered in 1988 in Marion, Ohio and expanded to Delaware County in January 2008. As a native of Marion, Mr. Keller and several of the investors have long term ties to the community, facilitating the proposed transaction. The Marion market provides a strong base for the $150 million bank, while the Bank’s Lewis Center facility will allow future expansion in the Delaware and Westerville markets.

Mr. Keller stated that "The Ohio State Bank has been a cornerstone in our community for over 20 years, and this strategic alliance presents a rare opportunity where our team and resources uniquely match the needs of the Bank. Conversely, The Ohio State Bank provides Rbancshares, Inc. the ability to immediately establish our desired footprint, from Marion to north central Ohio. With a healthy Balance Sheet, The Ohio State Bank will be able to continue to support our community for future generations. We will continue to grow our hometown bank one relationship at a time, with the foundation of our company built upon the mission of "delivering excellence to all we serve."

Mr. Lamping noted that, "the investment by Rbancshares creates a win-win for both companies. Ohio State shareholders will continue to own their shares, allowing them to share in the future growth and value of the of the re-capitalized Bank. Existing customers will continue to receive the same quality community banking service from our combined staff and the increased capital will allow The Ohio State Bank to grow the loan and deposit portfolios and take advantage of the opportunities that exist both today and as the economy recovers and grows. In addition, Rbancshares gets a jump start on its goal and avoids significant start-up expenditures."

The Stock Purchase Agreement is subject to approval by Ohio State Bancshares, Inc. shareholders, as well as the Bank’s regulatory agencies. The parties intend to have necessary approvals in order to consummate the transaction near year end 2009. Terms of the Agreement expand the number of board members from six to ten. Mr. Keller will become President and CEO, and Mr. James Deer will serve as Chief Financial Officer.

For additional information, please contact Mr. Keller at (614) 574-0044 or Mr. Lamping at (740) 387-2265.

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February 17th, 2009

Ohio State Bancshares, Inc. Marion, Ohio Announces First Quarter Dividend Payment

Mr. Michael J. Lamping, Chairman of the Board and CEO of Ohio State Bancshares Inc. and its wholly-owned subsidiary The Ohio State Bank, reported that on Feb 17, 2009, the Board of Directors of Ohio State Bancshares Inc. declared a first quarter cash dividend of $.05 per share. The cash dividend is payable to shareholders of record on March 2, 2009 and will be distributed to shareholders on, or about March 13, 2009.

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November 18th, 2008

Ohio State Bancshares, Inc. Marion, Ohio Announces Fourth Quarter Dividend Payment

Mr. Michael J. Lamping, Chairman of the Board and CEO of Ohio State Bancshares Inc. and its wholly-owned subsidiary The Ohio State Bank, reported that on Nov 18, 2008, the Board of Directors of Ohio State Bancshares Inc. declared a fourth quarter cash dividend of $.05 per share. The cash dividend is payable to shareholders of record on December 1, 2008 and will be distributed to shareholders on, or about December 15, 2008.

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August 20, 2008

Ohio State Bancshares, Inc. Marion, Ohio Announces Third Quarter Dividend Payment

Mr. Michael J. Lamping, Chairman of the Board and CEO of Ohio State Bancshares Inc. and its’ wholly-owned subsidiary The Ohio State Bank, reported that on August 19, 2008, the Board of Directors of Ohio State Bancshares Inc. declared a third quarter cash dividend of $.05 per share. The cash dividend is payable to shareholders of record on September 1, 2008 and will be distributed to shareholders on, or about September 12,2008.

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May 20, 2008

Mr. Michael J. Lamping, Chairman of the Board and CEO of Ohio State Bancshares, Inc. and its wholly-owned subsidiary, The Ohio State Bank, reported that on May 20, 2008, the Board of Directors of the Ohio State Bancshares, Inc. declared a second quarter cash dividend of $0.10 per share. The cash dividend is payable to shareholders of record on June 2, 2008 and will be distributed to shareholders on, or about June 13, 2008.
Mr. Lamping is also pleased to announce that on May 20, 2008, the Board of Directors declared a 2 for 1 stock dividend. The stock dividend is payable to shareholders of record on August 1, 2008 and will be distributed to shareholders on, or about August 16, 2008.

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