EXHIBIT 99.1
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NEWS RELEASE
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DATE: January 4, 2006 2:30 p.m. E.S.T.
CONTACT: James L. Saner, Sr. President and CEO
MainSource Financial Group 812-663-0157
MainSource Financial Group Announces Anderson
as Chief Financial Officer
MainSource Financial Group, Inc., Greensburg, Indiana (Nasdaq: MSFG)
("MainSource"). James L. Saner, Sr., President and CEO, announced today the
appointment of James (Jamie) M. Anderson as Chief Financial Officer for
MainSource Financial Group. Mr. Anderson will immediately assume the
responsibility of overseeing the company's accounting, budgeting, profit
planning, and SEC reporting functions, as well as providing interest rate
management and investment strategy.
Mr. Anderson, 34, brings more than 13 years of corporate finance, strategic
planning and management experience to MainSource Financial Group. He has been
employed with MainSource for over five years, most recently serving as
Administrative Vice President and Principal Accounting Officer. He was employed
by MainSource in September of 2000 and served as the Corporate Controller until
June of 2003. At that time, he also assumed the duties of Principal Accounting
Officer until he was promoted to his most recent position in March of 2005. He
will be located at MainSource's headquarters in Greensburg, Indiana.
Prior to joining MainSource, Mr. Anderson worked for Hill-Rom Company, Inc. as a
Financial Analyst where he, among other duties, assisted in the development of
annual business plans and reviewed strategic investment proposals. In addition,
he served as Accounting Supervisor and Senior Financial Analyst for Mergers and
Acquisitions for Sun Healthcare Group, Inc. Mr. Anderson received his Bachelor's
Degree from Hanover College in Hanover, Indiana and is a Certified Public
Accountant. He and his wife, Amy, reside in Batesville, Indiana with their three
children.
Mr. Saner stated, "We are fortunate to have Jamie Anderson in our organization.
He has been intimately involved with all SEC reporting for the past three years
and has played a vital role in the merger and acquisition activity of our
Company for the past several years. His appointment adds strength to MainSource
Financial Group's executive management team and signifies the Company's
continuity in the marketplace. In addition to his extended experience in
corporate finance, he provides us with a unique management style that will add
to the company's strategic development, growth and vision."
MainSource Financial Group has expanded its asset base to over $1.6 billion and
operates banking offices throughout Indiana and Illinois. Most recently,
MainSource announced definitive agreements to acquire three financial
institutions during 2006, which will bring its total asset base to more than
$2.2 billion and will expand its presence into Ohio and Northwest Indiana. In
addition, MainSource has a stated goal to grow the corporation organically by
offering complete financial services to the areas it serves.
Mr. Anderson commented, "I look forward to assuming these responsibilities at
such an exciting time for MainSource. This is a growing organization and I
intend to help lead the company to improved growth and efficiencies that will
continue to provide strong earnings for our shareholders."
MainSource Financial Group, Inc., headquartered in Greensburg, Indiana, is a
community-focused, financial services holding company with assets of
approximately $1.6 billion. Through its two banking subsidiaries, MainSource
Bank, Greensburg, Indiana and MainSource Bank of Illinois, Kankakee, Illinois,
it operates 54 offices in 23 Indiana counties and six offices in three Illinois
counties. Through its non-banking subsidiaries, MainSource Insurance LLC,
MainSource Title LLC and MainSource Mortgage LLC, it provides various related
financial services through its banking affiliates.
Forward-Looking Statements
Except for historical information contained herein, the discussion in this press
release may include certain forward-looking statements based upon management
expectations. Factors which could cause future results to differ from these
expectations include the following: general economic conditions; legislative and
regulatory initiatives; monetary and fiscal policies of the federal government;
deposit flows; the costs of funds; general market rates of interest; interest
rates on competing investments; demand for loan products; demand for financial
services; changes in accounting policies or guidelines; changes in the quality
or composition of the Company's loan and investment portfolios; the timing of
the closing of the acquisition transactions; the timing and success of
integration efforts once the acquisition transactions are complete; MainSource's
expectations or ability to realize success with the proposed acquisitions, and
the impact of the proposed acquisitions, if successful, on MainSource's
business.
The forward-looking statements included in the press release relating to certain
matters involve risks and uncertainties, including anticipated financial
performance, business prospects, and other similar matters, which reflect
management's best judgment based on factors currently known. Actual results and
experience could differ materially from the anticipated results or other
expectations expressed in the Company's forward-looking statements as a result
of a number of factors, including but not limited to, those discussed in the
press release.
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