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EXHIBIT 99.1 PRESS RELEASE
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Security Financial Bancorp., Inc. PL Capital LLC
9321 Wicker Avenue 2015 Spring Road
St. John, IN 46373 Suite 290
Oak Book, IL 60523
For Immediate Release: September 8, 2000
Contact: For Security Financial Bancorp, Inc. -- John P. Hyland
President and Chief Executive Officer
Tel. 219-365-4344
For PL Capital Group -- John W. Palmer
Principal
Tel. 630-928-0231
Security Financial Bancorp., Inc. Announces Agreement with the PL Capital Group
St. John, Indiana -- Security Financial Bancorp., Inc. (Nasdaq SmallCap: SFBI),
the holding company for Security Federal Bank & Trust, and the PL Capital Group
today announced an agreement resulting in the appointment of John W. Palmer and
Richard Lashley to the Board of Directors of the Company. Messrs. Palmer and
Lashley were also appointed to the Board of Directors of the Bank, subject to
regulatory approval. This will result in the expansion of the Boards of
Directors of the Company and the Bank from nine to eleven members. As part of
the agreement, one of Messrs. Palmer or Lashley will also be appointed to the
Asset/Liability and Executive Committees of the Board of Directors. The PL
Capital Group has withdrawn its Notice of Intent to Nominate Two Directors, as
well as its preliminary proxy materials previously filed with the Securities and
Exchange Commission, and have agreed to vote their shares in favor of the
Company's nominees for election to the Board of Directors at Security
Financial's Annual Meeting of Shareholders scheduled to be held on October 19,
2000, as well as in favor of the ratification of the Company's auditors for the
fiscal year ended December 31, 2000, and in favor of the approval of the
Security Financial Bancorp., Inc. 2000 Stock-Based Incentive Plan.
Security Federal Bank & Trust is a federally chartered savings bank
headquartered in St. John, Indiana. The Bank conducts business through its main
headquarters and five branch offices located in Lake and Porter counties,
Indiana.
Statements contained in this news release which are not historical facts are
forward-looking statements, as the term is defined in the Private Securities
Litigation Reform Act of 1995. Such forward-looking statement are subject to
risk and uncertainties which could cause actual results to differ materially
from those currently anticipated due to a number of factors, which include, but
are not limited, factors discussed in documents filed by the Company with
Securities and Exchange Commission from time to time.
