Citizens Community Bancorp, Inc. Announces Share Repurchase.

Business Editors

MARCO ISLAND, Fla.--(BUSINESS WIRE)--Sept. 8, 2000

Citizens Community Bancorp, Inc. (Nasdaq:CCBI) announced today that CCBI has repurchased 100,000 shares, or approximately 2.9% of the company's shares outstanding, in a private sale transaction. The shares were from the Estate of a former Director. "The repurchase was in keeping with the spirit of CCBI's Stock Repurchase Program adopted by the Board of Directors earlier this year", said Richard Storm, Jr., CCBI's Chairman and Chief Executive Officer. CCBI paid $7 5/8 per share, or a total of $762,500, to acquire the shares. According to Mr. Storm: "This purchase was made in accordance with the company's commitment to enhance the liquidity of CCBI's common stock, as well as providing an opportunity to enhance shareholder value." To date, CCBI has repurchased 108,000 shares since adoption of its Repurchase Program in January of this year.

CCBI's stock is listed on the NASDAQ Small Cap market under the symbol "CCBI". At June 30, 2000, CCBI had total assets of $140.7 million, deposits of $113.9 million, loans of $108.0 million and shareholders' equity of $18.3 million. For the first six months of 2000, net earnings were $490,000, or $0.14 per basic and diluted share, compared to $238,000 and $0.07, respectively for the first half of 1999. Prior to the repurchase of the 100,000 shares, CCBI had 3,487,199 shares outstanding.

Copies of CCBI's press release, current price quotes, stock charts and other investor information can be found on CCBI's website at http://www.ccbancorpfl.com. For additional information, please contact Gregory E. Smith, President & CFO at 941/389-1800, ext. 280.