EXHIBIT 99

Camco Financial Announces Fourth Quarter and 2010 Year-End Results

CAMBRIDGE, Ohio, Feb. 14, 2011 (GLOBE NEWSWIRE) -- Camco Financial Corporation (Nasdaq:CAFI), the bank services holding company for Advantage Bank, today announced fourth quarter financial results.

For the quarter ended December 31, 2010, the Company reported net earnings of $1.0 million, or $0.14 per share. The Company's year-to-date loss through December 31, 2010 is $14.6 million, or $2.02 per share as Camco has continued to concentrate on decreasing criticized, non-performing and delinquent loans, while increasing total loans. Loan loss reserves to total loans also increased from 2.38% to 2.46% at December 31, 2010.

"As we stated throughout 2010, our year-to-date loss is primarily due to high charge-offs, declines in real-estate owned (REO) home values, and expenses related to classified assets and the foreclosure processes, all of which are realities we've had to face and deal with to ensure stability for our shareholders moving forward," said James E. Huston, President and CEO. "We believe we have built momentum moving into 2011 through our fourth quarter income that was a result of strong gains on sales of mortgage loans in an environment of low interest rates and increased re-financing."

The Company's net interest margin increased 59 basis points to 3.50% for the year ending December 31, 2010 from 2.91% for the year ending December 31, 2009, and up 16 basis points to 3.75% for the quarter ended December 31, 2010 from 3.59% for the quarter ended September 30, 2010.

"As we begin a new year, we are looking forward…with a focus on ensuring we continue to provide excellent customer service and a wide array of financial products for our customers. Simultaneously, we believe we are concentrating on areas that will provide ongoing opportunities for strength and growth," Huston said.

Review of Financial Performance

Overview:

For the quarter ended December 31, 2010, the Company reported net earnings of $1.0 million, or $0.14 per share compared to a net loss of $11.8 million, or $1.64 per share for the same period a year ago. Net loss for the fiscal year ended December 31, 2010 was $14.6 million, or $2.02 per share, compared to net loss of $11.2 million, or $1.56 per share for the fiscal year ended December 31, 2009.

The following summarizes key activities of the Company during the quarter ended December 31, 2010:

• Net interest margin improved 16 basis points to 3.75% compared to previous quarter of 3.59%
• Net interest income plus non-interest income increased $1.4 million, or 17.3%, when compared to the 3^rd quarter 2010
• Provision for loan losses totaled $936,000 while net charge-offs on loans totaled $920,000
• Non performing loans decreased $5.3 million or 13.5% from September 30, 2010
• $1.1 million of expense was incurred in the quarter related to real estate owned valuations

Asset Quality:

Management continues to match the directional trends in classified assets and non performing loans to the reserve. Commercial and residential prices have been declining due to oversupply which has resulted in the additional write down of classified assets and properties. As borrowers continue to struggle in the current economy we have continued to focus on our asset quality. In 2010 we have seen a 7.3% decrease from 2009 in non-performing loans and a 13.9% decrease in loans delinquent 60+ days. Charge offs contributed to the overall reduction, but without our continued and proactive efforts to identify the weakening credits and assess their collectability we would not be able to seek resolution of the problem assets. 

A summary of certain key factors follows:

*Includes special mention, substandard, doubtful and loss.

Net Interest Income:

Net interest income was $7.0 million, up 12.6% compared with the prior year and up 3.8% compared with the prior quarter. Net interest margin was 3.75% for the fourth quarter of 2010, compared to 3.20% with the prior year fourth quarter and 3.59% for the third quarter of 2010.

Improved margins are being driven by lower cost of deposits and non-core funding sources coupled with a greater mix of new commercial loan originations.

Non-Interest Income (NII):

Non-interest income was $2.6 million for the fourth quarter of 2010, versus $1.4 million last quarter and $2.4 million for the fourth quarter of 2009. The increase in the fourth quarter is primarily due to gain on sale of mortgage loans and an increase in the valuation of mortgage servicing rights (MSRs).   Mortgage loan sales increased $19.5 million in the fourth quarter 2010 from the previous quarter resulting in increased capitalization in our MSR asset. 

Non-Interest Expense (NIE):

NIE was $7.6 million for the fourth quarter of 2010, versus $7.8 million last quarter and $7.0 million for the fourth quarter of 2009. The increases in 2010 relate to higher costs associated with problem loan workouts, such as fees for legal expenses relating to the resolution of problem assets and the decline in the value of our real estate owned properties coupled with the operating expenses associated with holding such assets prior to sale.

Balance Sheet Review:

Total assets decreased 3.3% to $815.0 million at December 31, 2010, compared with $842.7 million a year earlier, primarily as a result of the decreases in investments and cash offset partially by an increase in loans. 

Loans held for sale decreased $9.9 million from the previous quarter which contributed to our gain on sale and increase in MSR values during the quarter. 

Total loans were $684.7 million at December 31, 2010, compared with $675.1 million in the prior year. The total loan portfolio mix continues to change with a greater percentage representing commercial loans, the growth of which has been a strategic initiative for the Bank. 

Deposit balances were $651.8 million, compared with $659.9 million in the prior year and $647.9 million in the previous quarter. Excluding the planned runoff of public fund and brokered deposits, our core deposit base continues to increase.

Capital:

Camco's tier one capital to average assets ratio increased to 5.98%, up from 5.73% in the third quarter of 2010. The Bank entered into an agreement in July, 2009, with its regulator that required it to maintain an 8% tier one capital level. The board is committed to realizing the 8% capital and has engaged an investment banking firm and is in the process of developing a capital plan that may include balance sheet reduction, issuing common stock, preferred stock, debt or some combination of those issuances, or other financing alternatives that will increase tier one capital.

Provision of Deferred Taxes:

The fourth quarter tax provision of $61,000 reflects the mark to market on our investments available for sale and the continued 100% valuation allowance on the Company's deferred tax asset. As the Company executes plans to return to profitability, future earnings will benefit from tax operating loss carry-forwards. 

About Camco Financial Corporation: Camco Financial Corporation, holding company for Advantage Bank, is a multi-state bank holding company headquartered in Cambridge, Ohio. Advantage Bank and its affiliates offer community banking that includes commercial, business and consumer financial services, internet banking and title insurance services from 26 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

The words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project" or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties including changes in economic conditions in the Company's market area, changes in policies by regulatory agencies, fluctuations in interest rates, demands for loans in the Company's market area and competition, that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

CONTACT: James E. Huston, CEO
         Phone:  740-435-2020