CAMBRIDGE, Ohio, July 17, 2012 (GLOBE NEWSWIRE) -- Camco Financial Corporation (Nasdaq:CAFI) announced today that it intends to conduct a rights offering of common shares of up to $10.0 million to existing shareholders.

Under the terms of the rights offering, all record holders of the Company's common stock as of July 17, 2012 for the rights offering will receive, at no charge, one subscription right for each share of common stock held as of the record date. Each subscription right will entitle the holder of the right to purchase one share of Company common stock. In addition, for every two shares purchased in the offering, investors will receive one warrant to purchase Company common stock within five years at a pre-determined price. Rights holders will have the opportunity to purchase shares in excess of their basic subscription rights, subject to availability. The Company may also offer any shares not subscribed for in the rights offering through a subsequent public offering. Final terms will be announced and the rights offering will commence as soon as practicable after the filing with and review by the SEC of the registration statement relating to the offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any offer, solicitation or sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of the securities under the securities laws of such state. The rights offering will be made only by means of a prospectus, copies of which will be mailed to all record date shareholders. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date. You may also request a copy of the prospectus by contacting the information agent for the rights offering, ParaCap Group, LLC at 6150 Parkland Boulevard, Suite 250, Cleveland, OH 44124 or by writing to the Company, 814 Wheeling Avenue, Cambridge, OH 43725, Attention: James E. Huston, CEO.

About Camco Financial Corporation and Advantage Bank

Camco Financial Corporation, holding company for Advantage Bank, is a multi-state bank holding company headquartered in Cambridge, Ohio. Advantage Bank offers community banking that includes commercial, business and consumer financial services and internet banking from 22 offices. Additional information about Camco Financial may be found on the Company's web sites: www.camcofinancial.com or www.advantagebank.com.

The Camco Financial Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4639

CONTACT: James E. Huston, CEO
         Phone: 740-435-2020
         Fax: 740-435-2021
Source: Camco Financial Corporation
distributed by