Baylor Promoted to No. 2 Spot at Camco; Popp Named Vice Chair.

Business Editors

CAMBRIDGE, Ohio--(BUSINESS WIRE)--Dec. 28, 1999

Camco Financial Corporation (Nasdaq:CAFI), a multiple savings and loan holding company located in Cambridge, Ohio, today announced the promotion of Richard C. Baylor to the position of President and Chief Operating Officer, and Anthony J. Popp will assume the additional responsibility of Vice-Chairman of Camco Financial's Board. Larry A. Caldwell will continue as Chief Executive Officer and Chairman of the Board. All changes are effective January 1, 2000.

Mr. Baylor, 44, is a 21 year banking veteran. He joined Camco in 1998 as Executive Vice President and Chief Operating Officer. In his expanded role, Baylor will be responsible for coordinating the activities of Camco's subsidiaries.

Before joining Camco, Baylor served 9 years with State Savings Bank, Columbus, Ohio as Vice President/Residential Lending. He served as President of the Ohio Mortgage Bankers Association in 1997. Baylor's banking and mortgage banking experiences have also included management responsibilities with Shawmut Mortgage Corporation (now known as National City Mortgage Corporation) Dayton; Society Bank of Eastern Ohio, Canton; and Home Federal Savings Bank, Xenia, Ohio.

Baylor is a graduate of Bowling Green State University with a B.S. degree in Industrial Education and an added major in Business Finance. He is also a graduate, with honors, of the Institute of Financial Education. Baylor, his wife Maura and their son, Charlie reside in New Concord, Ohio and their daughters reside in Dublin and Canton, Ohio.

Anthony J. "Tony" Popp joined Marietta Savings Bank as President, CEO and Director in 1972 shortly before Marietta's merger into the Camco Financial Group in 1973. Popp was named Camco Corporate Secretary in 1981, was elected to the Camco Board in 1985 and was named Senior Vice President in 1998. Popp assumes his additional duties as Camco's Vice-Chairman of the Board to provide additional depth to the Camco organization.

Mr. Popp is the current Chair of the Ohio League of Financial Institutions, is serving his second elected term on the Federal Home Loan Bank of Cincinnati Board of Directors and is Ohio's only representative on the Federal Reserve Board's Thrift Institution Advisory Council.

Larry A. Caldwell will continue as Camco's CEO and Chairman of the Board, positions he has held since Camco was incorporated in 1970, with responsibility for overall management, strategic planning, mergers and acquisitions and investor relations.

The fourth member of Camco's management group is Gary E. Crane, 39, Camco's Chief Financial Officer and Treasurer. He is responsible for Accounting, Finance and Information Technology.

Crane, a graduate of the University of Michigan School of Business Administration and a CPA in both Ohio and Florida, joined Camco in 1996 with experiences in a "big five" accounting firm and as a regulator in the Federal Home Loan Bank System.

Caldwell commented "These management changes provide additional depth to support continued growth as we approach the $1 billion asset mark and expand into new markets." In January 2000 Camco expects to complete its previously announced acquisition of Westwood Homestead Financial Corporation, which will merge into Camco. WHFC's operating subsidiary, Westwood Homestead Savings Bank, with two offices in Cincinnati, Ohio, will continue to operate as Camco's fifth community bank. WHFC reported assets of $149.7 million and stockholders equity of $22.9 million at September 30, 1999.

At September 30, 1999, Camco had consolidated assets of $778.4 million and stockholders' equity of $62.1 million. Through 30 offices, Camco provides a broad array of financial services to 22 communities throughout central and southern Ohio, northeastern Kentucky and northwestern West Virginia.