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Sep 11, 2009

Community Trust Financial Corporation and Madison Financial Corporation Agree to Merge

Ruston, LA - Sept. 11, 2009 - Community Trust Financial Corporation of Ruston, Louisiana, and Madison Financial Corporation of Madison, Mississippi, announced today that they will merge, adding three bank offices in Madison County to Community Trust’s regional banking network.

Under the merger agreement, Madison County Bank, the principal subsidiary of Madison Financial Corporation with assets of approximately $65 million, will continue to manage its three banking offices in Madison County under the name Community Trust Bank of Mississippi. Community Trust Financial, with assets exceeding $1.2 billion, currently operates 18 locations in north central and northeast Louisiana and Texas.

With the Madison County addition, Community Trust Financial Corporation now operates a cohesive banking franchise that extends from the Dallas-Fort Worth metropolitan area in Texas to Madison County
Mississippi.

“We’ve been looking for the right opportunity to enter the Mississippi market, and we finally found an excellent opportunity with the employees, customers and shareholders of Madison County Bank,” said Ronnie Myrick, chairman of Community Trust Bank. “We’re pleased to be able to bring to the people of Madison County the same kind of first-class customer service and community involvement we’re already known for in Louisiana and Texas.”

John Emory, chairman of Community Trust Financial Corporation, noted that Madison County Bank is “a perfect fit” with Community Trust’s growing regional network of community-oriented banks that focus on high-quality personnel and meeting the needs of local residents and businesses.

“In every one of our banks, the focus is local, so while we may be expanding to Mississippi, our core commitment to the people and businesses in the communities we serve remains a constant,” Emory said.

Community Trust Bank President and CEO Drake Mills said that Community Trust will also soon begin an expansion program designed to meet all the financial service needs of current and future customers in Madison and surrounding counties, and that he does not anticipate any local staff reductions as a result of the merger.

“We are very pleased to be merging with Community Trust, a bank that shares our commitment to providing the best customer service in the communities we serve,” said Henry A. Logue, president and CEO of Madison County Bank. “We believe that their leadership, vision and performance provide a solid foundation for a bright future that will benefit our shareholders, customers and employees as we move forward together.”

Logue will continue as President and Chief Executive Officer of Community Trust Bank of Mississippi.

Mills added that the merger is expected to be completed by the second quarter of 2010, subject to certain regulatory and shareholder approvals.

For more information on Community Trust, visit ctbonline.com. For information on Madison County, visit madisonthebank.com.

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This press release contains certain forward-looking statements that involve risks and uncertainties. When used in this press release the words “anticipate,” "believe," "expect," "potential," ”should,” and similar expressions identify forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning future business growth, the expected closing date and expected growth in the number of branches. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company's operations, markets, products, services, interest rates and fees for services. Individuals are cautioned not to place undue reliance on these forward-looking statements, which are accurate only as of the date of this press release.

Media contacts:

Ronnie Myrick
Chairman, Board of Directors
Community Trust Bank
(318) 366-6182

Henry Logue
President and Chief Executive Officer
Madison Financial Corporation
(601) 898-9890