Exhibit 99


For Immediate Release

Friday, September 29, 2000

Contact: David G. Ratz, Chief Administrative Officer
                  (740) 286-3283

Oak Hill Financial Comments on Expected Results

Jackson,  Ohio -- Oak Hill Financial,  Inc. (Nasdaq NMS: OAKF), a community bank
holding  company,  today  announced  that it expects net  earnings for the three
months ended September 30, 2000 to be $.28 to $.30 per share. Operating earnings
for the fourth quarter of 2000 are expected to be $.29 to $.33 per share.

John D. Kidd, President and CEO, commented,  "This is a disappointing period for
us. We are experiencing  significant compression of the net interest margin, and
while our loan demand is strong,  loan pricing is very  competitive  and funding
costs  have shot up due to the rapid  rise in  short-term  interest  rates.  Our
loan-to-deposit  ratio is over 100% and our loans are  growing.  We want to keep
our momentum  going in the lending  area,  and right now that means  higher-cost
funding."

Kidd added that the turnaround at the company's  Towne Bank  subsidiary has been
slower than  anticipated.  Towne Bank became part of Oak Hill Financial with the
October 1, 1999  acquisition of Towne  Financial Corp. and the conversion of its
subsidiary,  Blue  Ash  Building  and  Loan  Association,  from  a  thrift  to a
commercial  bank.  While progress has been made at Towne on the revenue side, it
has been offset by higher  funding  costs.  "The interest rate  environment  has
extended  the  timeframe  for  bringing  Towne Bank up to our  desired  level of
performance,"  said Kidd.  "We're now looking at the first or second  quarter of
2001 before we'll see notable improvement at Towne."

To enhance its long-term  performance,  Oak Hill Financial  plans to restructure
its  investment  portfolio in the fourth  quarter of 2000 by replacing up to $35
million in investment securities with quality,  higher-yielding instruments. The
plan  would  result in after -tax  charges  of up to $1.1  million in the fourth
quarter, but the company should realize an increase of up to 125 basis points in
the annual yield on the replaced investments.

Kidd concluded,  "With the  restructuring of the investment  portfolio,  coupled
with the continuing  demand for small  business  loans and the stock  repurchase
program announced on April 11, the company will be  well-positioned  relative to
expected market conditions."

Oak Hill Financial is a community bank holding company headquartered in Jackson,
Ohio. Its subsidiaries,  Oak Hill Banks, Towne Bank, and Action Finance Company,
operate 23 full-service banking offices, three bank loan production offices, and
four consumer  finance  offices in 15 counties across southern Ohio. At June 30,
2000,  the company's  total assets were $640.8  million.  Management  expects to
release third quarter results by October 20, 2000.

This news release contains certain  forward-looking  statements  relating to the
financial   performance  and  condition  of  Oak  Hill  Financial,   Inc.  These
statements, which are subject to numerous risks and uncertainties, are presented
in good faith based on management's understanding, expectations, and assumptions
regarding the company's future  performance and condition.  Actual results could
differ  materially from those  projected or implied by the statements  contained
herein. The factors that could affect the company's future results are set forth
in the periodic  reports and  registration  statements filed by the company with
the Securities and Exchange Commission.