Byron Center State Bank Announces Plans to Add Executive Level Position.

Business Editors

BYRON CENTER, Mich.--(BUSINESS WIRE--June 27, 2002--O.A.K. Financial Corporation (OKFC), the holding company of Byron Center State Bank, O.A.K. Financial Services and the Dornbush Insurance Agency, is pleased to announce plans to expand its executive level staff as a result of the organization's growth.

Byron Center State Bank has experienced significant and sustained growth over the past four years, more than doubling its size to over $500 million and 226 employees. This growth occurred under the leadership of President, John Van Singel, who also serves as CEO and president of the holding company. As a result of this growth -- and the belief by management and the board of the Bank and the holding company -- that there are excellent opportunities for future expansion of not only banking but also other financial and insurance services, the bank plans to hire a new president and CEO. This addition will allow Mr. Van Singel to focus his time on the operations of the holding company and expansion of the insurance services and other financial services offered by the organization.

The bank is beginning its search for a new president and CEO. Until the new executive is in place, Mr. Van Singel will continue to serve as the bank's president and CEO. The current chief financial officer, Mr. Jim Luyk, has been named chief operating officer by the board and will assume additional day-to-day responsibilities.

"We realize a clear need exists to expand our executive staff as a result of our growth and our confidence in the future of our organization and the opportunities to bring a variety of financial services to our banking customers. We are excited about moving forward," said Bob Deppe, board member. "We believe that we are well positioned in excellent markets in Western Michigan and that we are at a size where we must increase our executive staff to take advantage of future opportunities," Deppe continued.

O.A.K. Financial Corporation is an established and progressive provider of banking, insurance, and investment products. The 11 branch Byron Center State Bank has assets of $512 million at March 31, 2002.

Cautionary Statement: This press release contains certain forward-looking statements that involve risks and uncertainties. When used in this release, the words "believe, "expect," "potential," and similar expressions identify forward-looking statements. These statements include, but are not limited to, statements concerning future growth and assets and profitability. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company's operations, markets, products, services, interest rates and fees for services. Readers are cautioned not to place undue reliance on these forward look statements, which speak only as of the date of this release.