CITBA Financial Corporation Terminates Merger Transaction

MOORESVILLE, Ind., March 25, 2014 /PRNewswire/ — CITBA Financial Corporation
(CITBA) (CBAF), Mooresville, IN, the bank holding company of Citizens Bank,
today announced that it had elected to terminate the proposed merger transaction
between CITBA and its bank subsidiary and Merchants Bancorp, of Carmel, Indiana,
and its bank subsidiary, Merchants Bank of Indiana.

Lynn T. Gordon, President and CEO of CITBA, stated that continuing delays in
obtaining the necessary regulatory approvals pushed the expected closing date
beyond the outside date specified by the merger agreement for the parties to
close. He emphasized that these regulatory delays had nothing to do with any
regulatory concern relating to the earnings, asset quality, or financial
condition of either of the banks, or with the merger transaction itself.

CITBA is the parent company of Citizens Bank. Citizens Bank offers a full range
of financial and investment services through its 10 full-service banking offices
and 12 ATMs located in Morgan, Hendricks and Marion County, Indiana. As of
December 31, 2013, CITBA had consolidated total assets of $378.2 million,
deposits of $330.5 million, and shareholders’ equity of $36.2 million.

For more information, contact:

CITBA Financial Corporation – Lynn T. Gordon, President & CEO (317)831-0110

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SOURCE CITBA Financial Corporation

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