Mid-Southern Savings Bank, FSB Announces Addition of New Officers.

Business Editors

SALEM, Ind.--(BUSINESS WIRE)--June 19, 2002

Mid-Southern Savings Bank, FSB (OTCBB:MSVB), announced today the recent addition of two new officers to its Salem and Orleans locations.

Mr. Kermit A. Lamb has been appointed to the position of Senior Vice

Mr. Lamb is a former Vice President for the Bank of Orleans and retained that position when it was purchased by Civitas and then Fifth Third Bank. Throughout his 30-year career Mr. Lamb has attended numerous banking seminars and workshops but most of his experience has been gained in hands-on banking experience.

Lamb stated, "At Mid-Southern customers will find banking the way it used to. We want them to know they're important to us and that we see them as friends, not numbers. We will do everything within our power to provide them with the personal service they deserve from a hometown bank." Mr. Lamb and his wife, Glenda, are longtime residents of Orleans and have two children and three grandchildren.

Mr. Smith, over a twenty period with Marengo State Bank and 1st National Bank of Mitchell, Indiana, has been involved in all areas of the banking industry, including accounting, teller and branch operations as well as all functions of consumer, mortgage and commercial lending.

He has also attended numerous seminars and workshops and served on the Indiana Bankers Association, as well as being involved in coaching men's varsity football and women's varsity basketball and is actively involved in the Paoli Little League Board. Mr. Smith will work very closely with Steve Walls, President and CEO, to enhance current lending programs and development of new programs.

Walls stated "Mid-Southern is extremely fortunate to find experienced and dedicated individuals such as Kermit and Mike. As the Savings Bank looks at future growth and expansion, their backgrounds and knowledge will be invaluable to the Bank."

Mr. Smith commented he is very pleased to be involved with a locally owned, community oriented financial institution again and is looking forward to working with the Board and the Savings Bank.

Mid-Southern Savings Bank, FSB, a federally chartered savings bank headquartered in Salem, Indiana, with a branch in nearby Orleans, Indiana, has served the financial needs of the residents of Washington County, Indiana and the contiguous counties since 1886.