Exhibit 99.1

PRESS RELEASE

*FOR IMMEDIATE RELEASE*



                          LEXINGTON B&L FINANCIAL CORP.
                    COMPLETES MERGER OF BANKING SUBSIDIARIES

      Lexington,  Missouri,  April 9,  2001 --  Lexington  B&L  Financial  Corp.
(NASDAQ SmallCap:  LXMO) announced today that it has completed the merger of its
two   banking   subsidiaries,   B&L   Bank   and   Lafayette   County   Bank  of
Lexington/Wellington.  B&L Bank,  which  was the  surviving  institution  in the
merger, now operates from three offices and has over $100 million in assets.

      "The  merger  of our  two  banking  subsidiaries  coincides  with  the our
relocation to our new headquarters building," said Erwin Oetting, Jr., President
and Chief Executive  Officer of the Company.  "We expect this  consolidation  to
improve our operating  efficiencies  and to enable all of our customers to enjoy
the benefits of our new main office."

      Lexington B & L  Financial  Corp.  is the  holding  company for B & L Bank
headquartered in Lexington,  Missouri. At December 31, 2000, the Corporation had
total assets of $109.5 million and stockholders' equity of $14.2 million.


For further information contact:

Erwin Oetting, Jr.
President and CEO
B&L Bank
(660) 259-2247