EXHIBIT 99.1


FOR IMMEDIATE RELEASE

CONTACT: Donald R. Blackburn
             740.657.7010



                  DCB FINANCIAL CORP. BEGINS SEARCH FOR NEW CEO


DELAWARE, OHIO - OCTOBER 3, 2002 - DCB Financial Corp (OTC Bulletin Board:
DCBF:OB) Chairman G. William Parker, M.D., announced today that the company's
board of directors has voted not to continue the employment of Larry Coburn,
president, and will begin immediately to search for a new chief executive. DCB
Financial Corp is the holding company of the Delaware County Bank & Trust
Company (The Bank).

"We've seen remarkable growth in our community and in The Bank," said Dr.
Parker. "In the past seven years, The Bank has grown from roughly $300 million
in assets to $500 million, a significant benchmark for the industry. As we move
forward, the new CEO will be asked to focus attention on improving earnings and
increasing shareholder value. We are looking forward to an even brighter future
as the largest independent, community bank in Delaware and the surrounding
area," he continued.

"We strongly believe in the community bank model and mission that we have
pursued for more than 50 years. We expect to have a new president in place by
the end of this year," said Dr. Parker. "In the meantime, the board of directors
has complete confidence in The Bank's current senior management team, led by
Donald R. Blackburn, to manage the company's day-to-day business."


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DCB FINANCIAL CORP.
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As chairman of the board, a position he has held since 1998, Dr. Parker, a long
time Delaware surgeon and a director of The Bank since 1976, said, "The board
will provide guidance and oversight to the senior managers as this transition
takes place." A special committee of the board, led by Jerome Harmeyer, has been
formed to conduct the search for a new chief executive.

The Bank, headquartered in Lewis Center, Ohio, operates 16 full-service branches
in Delaware, Union and Franklin counties. The Bank provides customary retail and
commercial banking services to its customers, including checking and savings
accounts, time deposits, IRAs, safe deposit facilities, personal loans,
commercial loans, online banking and trust services. The Bank also provides cash
management and other corporate banking services to its business customers.


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This news release may be deemed to include forward-looking statements such as
statements relating to financial goals and business outlook. Actual results
could differ materially from those indicated by these statements due to a
variety of factors, including those related to the economic environment in the
market areas in which the Company operates, credit risk management,
asset/liability management and the availability of and costs associated with
sources of liquidity.