Exhibit 99

                                                                  March 17, 2000
FOR FURTHER INFORMATION CONTACT:
Leo Rozier, President
Perry County Financial Corporation
(573) 547-4581


                       PERRY COUNTY FINANCIAL CORPORATION

                     ANNOUNCES SALE OF INVESTMENT SECURITIES



     Perryville, Missouri (Nasdaq SmallCap: PCBC) - In an effort to restructure
its balance sheet to reduce interest rate risk, Perry County Financial announced
it had sold its entire portfolio of zero coupon securities and callable
securities. As of December 31, 1999, these securities had a combined net
unrealized loss of $3.4 million on an after-tax basis. The actual recognized
loss resulting from these securities sales was $3.5 million on an after-tax
basis. Despite the loss, the Bank will continue to be well capitalized.

     The decision to sell was based on regulatory concerns regarding the Perry
County Savings interest rate risk exposure. By selling the securities at this
time, with rates having recently declined, the Company believes it was able to
avoid future additional losses to the extent interest rates rise.

     The Company is now working on a plan, utilizing an investment advisor, to
re-invest the proceeds in assets designed to maximize earnings while minimizing
interest rate risk.