MEMO: PERRYVILLE BANK MERGER ANNOUNCED

Perry County Financial Corp., 14 N. Jackson St., in Perryville, Mo., has announced that its shareholders approved the "Agreement and Plan of Merger" with Jefferson County Bancshares Inc. The corporation is the parent company of Perry County Savings Bank, F.S.B.

The agreement provides that the common shareholders of Perry County Financial Corp.. would receive $23.50 in cash for each common share, effective at the close of business June 29, when the transaction closed.