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Fred Morgan Insurance Agency to Join the Community Financial Insurance Center Team

August 26th, 2008

MONROE, La. - Community Financial Insurance Center today announced it has joined forces with Fred Morgan Insurance Agency of Rayville, Louisiana. The merger goes into effect September 1, 2008.

According to Eugene Montgomery, AAI, CIC, president and CEO of Monroe-based Community Financial Insurance Center, “Customers of the Fred Morgan Insurance Agency can rest assured that this merger will not affect their policies or the day-to-day operations of their distinguished 100-year-old insurance agency.”

The agency will continue to operate at its current location with Sandra Watson, Account Executive, and Hilda Ramsey, Receptionist. Sarah Blackwell will remain based in Rayville and also become a member of the Community Financial team, serving the Financial Institutions Division as an Executive Consultant under the direction of Senior Vice President, Jeanette F. Credo.

Fred Morgan Insurance Agency has a distinguished history of over 100 years in Richland Parish. Current owner and Vice-Chairman of the Community Financial Board of Directors, Robert W. Calvert, Jr., will remain active in the insurance business and affiliated with Community Financial and with Fred Morgan Insurance Agency.

According to Sandra Watson, Account Executive for Fred Morgan Insurance Agency, “We are confident that our new relationship with Community Financial Insurance Center will be mutually beneficial for both agencies, as well as for our customers by providing them with continued financial stability and security for years to come.”

Community Financial Insurance Center, LLC, a Louisiana-based insurance agency, is owned by 48 community banks located throughout the state and is the affiliated agency of the Louisiana Bankers Association. It was organized upon the concept of pooling funds in order to acquire insurance agencies for the purpose of providing affordable insurance products to their community bank customers. The first acquisition of Community Financial Insurance Center, LLC, in January 2005 was Troy & Nichols Insurance Agency, Inc. d/b/a Troy & Montgomery Insurance, one of the largest independent insurance agencies in north Louisiana, having a history of over 100 years. Community Financial also acquired Bogan & Formeller, Inc. of Baton Rouge in July 2005.