First Place Financial 8-K Results of Operations and Financial Condition

Exhibit 99.1

Forward-looking Statements

When

used

in

this

presentation,

or

future

presentations

or

other

public

or

shareholder

communications, in filings by First Place Financial Corp. (the Company) with the Securities and

Exchange Commission, or in oral statements made with the approval of an authorized executive

officer, the

words

or

phrases

“will

likely

result,”

“are

expected

to,”

“will

continue,”

“is

anticipated,”

“estimate,”

“project”

or similar expressions are intended to identify “forward-looking statements”

within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking

statements involve known and unknown risks, uncertainties and other factors, which may cause the

Company’s actual results to be materially different from those indicated. Such statements are

subject to certain risks and uncertainties including changes in economic conditions in the market

areas the Company conducts business, which could materially impact credit quality trends, changes

in laws, regulations or policies of regulatory agencies, fluctuations in interest rates, demand for

loans in the market areas the Company conducts business, and competition, that could cause

actual results

to

differ

materially

from

historical

earnings

and

those

presently

anticipated

or

projected. The Company wishes to caution readers not to place undue reliance on any such

forward-looking statements, which speak only as of the date made. The Company undertakes no

obligation to publicly release the result of any revisions that may be made to any forward-looking

statements to reflect events or circumstances after the date of such statements or to reflect the

occurrence of anticipated or unanticipated events.

2

•

Business of the Meeting

-

Merger Proposal                                                

-

Other

•

2008 Financial Overview and Q1 ’09 Highlights

•

2008 Achievements, Challenges & Future Strategies

•

Question & Answer

•

Recognizing Commitment & Leadership

•

Election Results

First Place Annual Meeting Agenda

3

May 7, 2008

Steven R. Lewis, President & CEO

Camco Financial

Corporation

Acquisition of

“Statewide Strategic Expansion”

Camco Financial Corporation

•

Headquartered in Cambridge, Ohio

•

Assets of $1.0 billion

•

23 branches in Ohio, Kentucky and West Virginia

•

Greater

Cincinnati

–

9

offices

•

Greater

Columbus

–

5

offices

•

I-77 Corridor

(New

Philadelphia/Cambridge/Marietta)

–

9

offices

•

5 acquisitions and 1 divestiture since 1996

•

Business lines –

commercial banking, mortgage banking and

Camco

Title Agency

5

Multi-State Footprint

6

Statewide Strategic Expansion

•

Creates statewide competitor

•

Accelerates growth initiatives in Columbus, Cincinnati and Dayton

•

Geographically diversifies balance sheet

•

Complements existing Loan Production Office (“LPO”) network

•

Low pro-forma cost structure to support $1 billion asset base

•

Deal does not rely on balance sheet growth to generate high

investment returns

•

Thorough due diligence on asset quality

•

Low transaction pricing ratios

•

Low execution risk

7

Transaction Summary

(1) Based on FPFC stock price of $14.00 per share

December 2008

Expected Closing

Complete

Due Diligence

Rick Baylor, President & CEO of CAFI, will be named Regional President of

newly created Southern Ohio Region

Management

FPFC will add two CAFI directors

Holding Company Board

$3.8 million (3.9% of stated deal value)

Break-Up Fee

$13.58 per share

Fixed Cash Price

$11.20 and $16.80

Collars

0.97 FPFC shares for each CAFI share

Fixed Exchange Ratio

73.5% stock/26.5% cash, subject to election and proration

Fixed Consideration Mix

$13.58 per share

Implied Value Per Share

(1)

$97.2 million

Transaction Value

(1)

8

Pro Forma Financial Impact

•

Transaction costs estimated at $15.9 million pre-tax and $11.0

million after-tax

•

Cost savings equal to 31% of CAFI cost structure

•

No retail branch closures modeled

•

Cost structure to operate $1 billion CAFI franchise estimated at

less than $20 million annually

•

Cost savings phased in 75% in 2009 and 100% in 2010

•

Incremental revenue enhancement estimated at $500,000 in 2009

and $1.0 million in 2010

•

Baseline projected asset growth of 2.0% annually

9

Fiscal 2008

Financial Results

Fiscal 2008 Financial Highlights

11

•

Net Income down 57.9% to $10.8 Million from $25.6 Million in 2007

•

55.0% Decline in Diluted Earnings per Share to $0.67 from $1.49

•

$9.3 Million Mortgage Banking Gains up from $7.2 Million for 2007

•

Allowance for Loan Losses as a % of Total Loans 1.07% at 6/30/08

up from 1.03% at 6/30/07

•

3.6% Growth in Total Assets

•

Equity to Assets 9.55% at 6/30/08 down from 10.11% at  6/30/07

•

Remain

“Well

Capitalized”

for

Regulatory

Purposes

Net Income History

$14,151

$23,044

$25,624

$10,790

$18,938

2004

2005

2006

2007

2008

12

Net Income

Fiscal Year Ended: 6/30

13

Amount

As a % of

As a % of

Highlighted

Avg Assets

Avg Assets

Differences

Interest income

$189,672

5.85%

$186,464

6.05%

Interest expense

102,046

3.15%

99,459

3.23%

Net interest income

87,626

2.70%

87,005

2.82%

Provision for loan losses

16,467

0.51%

7,391

0.24%

-0.27%

Noninterest income

Mortgage banking gains

9,257

0.29%

7,240

0.23%

0.05%

Loan servicing income

50

0.00%

1,339

0.04%

Subtotal mortgage banking

9,307

0.29%

8,579

0.28%

Service charges on deposit accounts

8,346

0.26%

6,436

0.21%

Other income

15,220

0.47%

16,843

0.55%

Subtotal

32,873

1.01%

31,858

1.03%

Fair value/Impairment securities adjustments

(8,611)

-0.27%

-

0.00%

-0.27%

Gain on sale of securities and MSRs

2,703

0.08%

430

0.01%

Total noninterest income

26,965

0.83%

32,288

1.05%

Noninterest expense

Compensation and benefits

40,875

1.26%

35,951

1.17%

Occupancy

13,140

0.41%

11,577

0.38%

Other noninterest expense

26,466

0.82%

25,942

0.84%

Subtotal

80,481

2.48%

73,470

2.38%

Real estate owned

3,584

0.11%

726

0.02%

-0.09%

Total noninterest expense

84,065

2.59%

74,196

2.41%

Income before income tax expense

14,059

0.43%

37,706

1.22%

Income tax expense

3,269

0.10%

12,082

0.39%

Net income

$10,790

0.33%

$25,624

0.83%

-0.50%

Diluted EPS

$0.67

$1.49

2008

2007

Condensed Income Statement

Fiscal Year Ended: 6/30

(Dollars in thousands

except per share data)

Mortgage Banking Gains

14

$997

$999

$1,005

$1,163

$905

$7.240

$9.257

$5.853

$8.481

$5.922

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

2004

2005

2006

2007

2008

$0

$2

$4

$6

$8

$10

$12

Sales

Mortgage Banking Gains

($millions)

1.41%

0.77%

0.69%

0.71%

1.35%

1.91%

2003

2004

2005

2006

2007

2008

Asset Quality

15

Nonperforming Loans / Total Loans

Fiscal Year Ended: 6/30

Provision for Loan Losses and Net

Charge-Offs

$14,500

$3,859

$2,947

$1,771

$2,477

$2,717

2003

2004

2005

2006

2007

2008

$2,864

$4,896

$3,509

$5,875

$7,391

$16,467

16

Fiscal Year Ended: 6/30

($ in thousands)

Provision for Loan Losses

Charge-Offs

1.07%

1.10%

1.00%

0.95%

1.03%

1.07%

0.00%

0.25%

0.50%

0.75%

1.00%

1.25%

2003

2004

2005

2006

2007

2008

Allowance for Loan Losses as a

Percent of Total Loans

17

Fiscal Year Ended: 6/30

Asset Growth:

$1,559

$2,247

$2,499

$3,113

$3,226

$3,341

2003

2004

2005

2006

2007

2008

Growth Rate Without Acquisitions = 8.5%

Growth Rate Without Acquisitions = 8.5%

($ in millions)

18

Fiscal Year Ended: 6/30

Compound Annual Growth Rate = 16.5%

Compound Annual Growth Rate = 16.5%

First Place Financial Corp.

Acquisition History

19

$68

6/30/2008

OC Financial

$53

10/31/07

HBLS Bank

$1,000

Pending

Camco

$30

4/27/2007

Citizens Republic

Branches

($200 Million Deposits)

$360

6/27/2006

Northern Savings & Loan

$627

5/28/2004

Franklin Bancorp.

$680

12/22/2000

FFY Financial Corp.

$200

5/12/2000

Ravenna Savings Bank

Total Assets

(in millions)

Merger Date

Partner

Total Loans:

20

Fiscal Year Ended: 6/30

($ in millions)

$892

$1,484

$1,813

$2,328

$2,482

$2,621

2003

2004

2005

2006

2007

2008

Compound Annual Growth Rate = 24.1%

Compound Annual Growth Rate = 24.1%

Growth Rate Without Acquisitions = 16.3%

Growth Rate Without Acquisitions = 16.3%

18%

47%

18%

15%

64%

38%

Commercial

Consumer

Real Estate

Loan Portfolio Mix

June 30,

2003

21

First Place Loan Portfolio

Total Loans                $901 million

$2.649 billion

June 30,   

2008

$1,108

$1,548

$1,709

$2,061

$2,241

$2,369

2003

2004

2005

2006

2007

2008

Enhancement:

Deposit Growth:

($ in millions)

22

Fiscal Year Ended: 6/30

Compound Annual Growth Rate = 16.4%

Compound Annual Growth Rate = 16.4%

Growth Rate Without Acquisitions = 4.1%

Growth Rate Without Acquisitions = 4.1%

Regulatory Capital Ratios

June 30, 2008

23

$89,199

$106,769

$35,352

7.75%

10.45%

11.47%

5.00%

6.00%

10.00%

2.25%

$251,586

$162,387

Tier One Capital

to Total Adjusted

Assets

4.45%

$250,724

$143,955

Tier One Capital

to Risk Weighted

Assets

1.47%

$275,276

$239,924

Total Capital to

Risk Weighted

Assets

Excess

Actual *

To Be Considered

Well Capitalized

* Combined for First Place Bank and Ohio Central Savings

Fiscal 2009 First Quarter

Financial Results

First Quarter 2009

Financial Highlights

25

•

Net Losses of $6.2 Million for the Quarter

•

Incurred a $9.3 Million Decline in the Fair Value of

Securities, Which was $7.8 Million, Net of Tax

•

The Allowance for Loan Losses was $31.4 Million at

September 30, 2008 or 1.19% of Total Loans –

Both at

the Highest Level in the History of First Place

•

The Board Declared their 39

th

Consecutive Dividend in

October 2008 of 8½

cents per Share

•

First Place Bank Remains Well Capitalized for

Regulatory Purposes

$6.25

-$3.15

$4.77

$2.91

-$6.16

-$8.0

-$6.0

-$4.0

-$2.0

$0.0

$2.0

$4.0

$6.0

$8.0

Sep-07

Dec-07

Mar-08

Jun-08

Sep-08

Net Income (Loss)

First Quarter Net Income

Fiscal 2009

26

($ in millions)

Items Negatively Impacting Earning

27

($ in thousands)

Real

OTTI and

Provision

Estate

Fair Value

All Other

For Loan

Owned

Security

Merger

Operating

Income

Net

Quarter ended

Losses

Expense

Charges

Expense

Income

Taxes

Income

9/30/2007

(1,961)

(404)

-

-

11,538

(2,919)

6,254

12/31/2007

(5,195)

(1,735)

(5,900)

(790)

8,242

2,231

(3,147)

3/31/2007

(4,680)

(550)

-

-

12,349

(2,350)

4,769

6/30/2007

(4,631)

(894)

(2,711)

(451)

11,832

(231)

2,914

Subtotal Fiscal 08

(16,467)

(3,583)

(8,611)

(1,241)

43,961

(3,269)

10,790

9/30/2008

(7,351)

(1,080)

(9,320)

(45)

10,442

1,195

(6,159)

Grand Total

(23,818)

(4,663)

(17,931)

(1,286)

54,403

(2,074)

4,631

Detail of OTTI and Fair Value Securities Charges

for the Five Quarters Ended September 30, 2008

28

$17,931

Total

183

Other Securities

4,250

Adjustable Rate Mortgage Mutual Funds

13,498

Subtotal GSEs

276

Freddie Mac Preferred Stock

$13,222

Fannie Mae Preferred Stock

($ in thousands)

29

GSE Preferred Stock

•

Designed to be sold to financial institutions

•

Rated Double A from purchase through June 2008

•

Include 70% dividend received exclusion available only to corporations

•

Lost a majority of their value due to the way the treasury structured the

conservatorship and recapitalization of the GSEs in September 2008

•

Were significantly impacted by the decline in housing values

ARM Mutual Funds

•

Designed to be sold to financial institutions

•

Rated triple A from purchase through April 2008

•

Received favorable 20% risk-weighting from regulators

•

Counted as housing investment in qualified thrift lender test

•

Lost value due to sub-prime crisis although they contained no sub-prime assets

•

Were significantly impacted by the decline in housing values

Detail of OTTI and Fair Value Securities Charges

for the Five Quarters Ended September 30, 2008

Recent Trading History

Market Price as a Percent of Tangible Book Value         57.1%

October 31, 2008 Market Price                                  

$6.87

6.87

9.02

3.97

12.99

October 2008

Month-End

Price

Difference

Low

Price

High

Price

September

30,

2008

Tangible

Book

Value

12.04

12.85

6.44

8.56

15.00

September 2008

10.16

3.56

8.85

12.41

August 2008

$10.87

$2.93

$8.50

$11.43

July 2008

30

•

Ticker Symbol: FPFC

•

Average Daily Trading Volume:  90,016 (October 2008)

•

Primary Regulator:  Office of Thrift Supervision

•

Institutional & Insider Ownership:  37.7% & 8.1% respectively

First Place

Advantage

Total

Assets

$3.3 Billion

$1.0 Billion

$4.3 Billion

Retail Locations

46

23

69

Loan Offices

18

0

18

States: 

Ohio, Michigan, Pennsylvania, Indiana,               

West Virginia, Kentucky

First Place Corporate Profile

31

“It’s

the economy…

stupid”

Once upon a time in the 90’s…

What’s New?

Countrywide

Bank of America

Bear Stearns

J.P. Morgan Chase

Lehmann Brothers

Bankrupt

Fannie & Freddie

Government Control

Goldman Sachs

Commercial Bank

Merrill Lynch

Bank of America

Washington Mutual

J.P. Morgan Chase

Wachovia

Wells Fargo

Dow Average 14,000 

8,500

Who or What is Next?

National City

PNC

33

Result:

Securities’

Impairments       

and                         

Record Foreclosures

•

Net charge-offs

$14.5 million

•

Total added to Reserves

$16.5 million

•

Non-performing loans increased by

$17 million

•

Total properties assumed in FY’08

154 units

•

22 cents per dollar lost

•

$24 million in Real Estate Owned

•

Reserves at 1.19% at 9/30/08

2008

35

2008 Loan Portfolio

36

93%

4%

3%

All Other Loans

Home

Builder/Development

Invest. Properties

Home

Builder

and

Development

Investor

Properties

$100 million   (6/30/08)

$67 million

(6/30/08)

$  92 million  today

$59 million today

$2.6 Billion

Core Business Components

37

Core Business Components                              

Performing Well

•

Mortgage Banking

$1.3 billion originated                

$9.3 million in gains

•

Net Core Account Growth

2,183

•

Expense Management

•

Deposit Growth

5.7%

•

Margin Expansion

Strategic Achievements in Fiscal 2008

•

Sold $1 Billion in Mortgage Servicing Rights

•

Relocated Austintown Office

•

Opened Grocery Store Branch in Sheffield, Ohio

•

Signed Definitive Agreement to acquire Advantage Bank

•

Acquired OC Financial

•

Acquired and integrated HBLS Bank

•

Expanded our mortgage banking footprint within Cincinnati and

out to Battle Creek, MI

•

Established Property Management Affiliate

Most Recently

•

Relocated our Liberty, Ohio retail office

•

Consolidated two Michigan retail offices

38

Challenges 

Today

and Tomorrow

•

Negative housing cycle

•

Continued economic pressure on the auto industry

•

Increased Deposit Insurance

•

Deep recession projected

•

Reductions in the prime rate

•

Irrational deposit pricing

•

Going into business with the government

39

Opportunities

•

TARP

•

Advantage Bank

•

Enhancements to our overdraft program

•

Cornerstone Study

•

Mortgage Banking

•

OC Financial

•

Core business account growth

•

Wealth Management model

•

Market opportunities

-

Consolidation of competition

-

Acquisition flexibility

40

Bailout

41

Bailout

$700 B

T.A.R.P.

Troubled Asset Recovery Program

$250 B

Financial

Institutions

T.A.R.P.

42

•

Tier One Capital (Preferred Stock non voting)

•

5% Interest Rate with 15% of stock warrants issued

•

Special Redemption Provisions

Purpose

Strings Attached

Resolve Problem Assets

Buybacks (3 years)

Loosen up credit

Dividends (3 years)

“Haves”

and the “have-nots”

Executive Compensation

Fix the bank economy

Government gets paid first

T.A.R.P.

43

Impact on First Place

•

6-7% dilution of ownership

•

Modest earnings dilution

•

Inexpensive form of Tier-one capital

•

Eligible for $75 million

•

Positions the Balance Sheet for long term

performance

Diversified Business Line

44

First Place Foundation

•

Distributed in excess of $775,000 to the communities

served by First Place during the 2008 fiscal year

•

Focus is on:

-

Economic Development

-

Education

-

Social Services

-

The Arts

•

Continuing to fund our commitment of $500,000 to the

Youngstown State University Centennial Campaign

•

Funded Education Scholarships totaling $84,844

•

Committed $110,000 to the Innovation Fund at the

Lorain County Community College

45

“The only thing that separates successful people

from the ones who aren’t is the willingness to

work very, very

hard.”

-

Helen Gurley Brown

46

QUESTION & ANSWER

Congratulations to Our Newest

and Most Recently Promoted Officers

First Place Bank

Eric Stone

Senior

Vice

President

-

Loan

Production,

Columbus

Trisha A. Minnie

Vice

President

-

Branch

Sales

Manager

Stella J. Ryser

Vice

President

-

Branch

Sales

Manager

Joni D. Everson

Vice

President

-

Mortgage

Loan

Officer

Christene M. Martin

Vice

President

-

Mortgage

Loan

Officer

Lynette S. Ruscitti

Assistant

Vice

President

-

Deposit

Operations

Manager

Franklin Bank

Sharon M. Bradley

Assistant

Vice

President

-

Branch

Sales

Manager

North Coast Region

Brian P. James

Vice

President

-

Branch

Sales

Manager

Keith H. Kapanke

Vice

President

-

Branch

Sales

Manager

Jaime J. Hunt

Assistant

Vice

President

-

Private

Banker

Gretchan P. Francis

Assistant

Vice

President

-

Branch

Sales

Manager

Thomas F. Wojtus

Assistant

Vice

President

-

Branch

Sales

Manager

48

Thank You

Board Member

Dr. Ronald P. Volpe

Years of Service    1996-2008

The Bank That Means

The Bank That Means

Business

Business