FLORENCE, OR. November 7, 2005 (BUSINESS WIRE) – Siuslaw Financial Group, Inc., (SFGP) announced today that its Board of Directors declared a dividend of $0.20 per share to shareholders of record as of November 9 and payable on or before November 14, 2005.

The $0.20 per share dividend continues the increase of 33% that began during the first quarter of this year and is continued for the second and third quarters. “We are pleased with the continued trend of increased earnings,” said Johan Mehlum, chairman of the board and chief executive officer. “The Return on Asset (ROA) and Return on Equity (ROE) percentages are 2.15 and 22.53, respectively, for the first three quarters of this year. Siuslaw Financial Group is one of the top two or three performing banks in Oregon in the aforementioned categories. Moreover, earnings are up 17.6% year to date over the same period in 2004.”

Of the 75 nominated local businesses, Siuslaw Financial Group recently won the Emerald Award for “Community Caring” for their outstanding philanthropic endeavors and services they provide to Lane County. The Emerald Awards are sponsored by the Eugene Chamber of Commerce.

Siuslaw Financial Group is the parent company of Siuslaw Bank and Carter & Carter Financial, which operates ten offices, all located in Lane County, Oregon.

FLORENCE, OR, November 7, 2005 - Johan Mehlum, the Chairman of the Board of Siuslaw Bank and Carter & Carter, announced today the following new hires and promotions:
Patrick R. Costello has been hired at the Bank’s Country Club office as Vice President and Loan Officer.

Costello comes to Siuslaw Bank with 18 years of banking experience. He was formerly Principal of a Real Estate investment group. He has also worked in the capacity as Vice President for a top-10 bank holdings company. He holds an MBA in Finance and Accounting from the University of Chicago.

In addition, Virginia Brooks joins Siuslaw Mortgage as Mortgage Loan Officer. Brooks comes to Siuslaw with 26 years experience in progressively responsible sales and management including mortgage loans and real estate.

PROMOTIONS:

In addition to the new hires, Mehlum announced the following promotions, effective immediately.

Darvin Fowler – Assistant Vice President to Vice President
Richard C. Smith – Network Administrator to Vice President
Jeff Miller – Assistant Vice President to Vice President
Cherrie Millikan – Compliance Assistant to Compliance Officer
Brian Carrick – Electronic Banking Specialist to Electronic Banking Manager.

Fowler has worked as a commercial loan officer and branch manager of Siuslaw Bank’s Valley River Village office for the past three years. He is a graduate of the Northwest Intermediate School of Banking and of Oregon State University.

Miller is a 14-year employee of Siuslaw Bank. His duties include managing the Information Systems department.

Smith is the head of the bank’s network administration. He is a former Academy Physician and Medical Director of the Air Operations Paramedic Program with the California Highway. He has been employed by Siuslaw since 2003.

Millikan has worked for two years as Siuslaw Bank’s Compliance Assistant. Prior to her employment with Siuslaw, she worked as an Escrow Collection Officer.

Carrick has been with Siuslaw Bank since 1998. He started in the data processing department and was instrumental in developing the bank’s Online Banking department.

SPRINGFIELD, OR, November 1, 2005 - Johan Mehlum, the Chairman of the Board of Siuslaw Bank, announced today that Thomas (Tom) E. Draggoo has been hired as an Assistant Vice President and Branch Manager for the Springfield office. Debra Sutch has been hired as Operations Supervisor. Draggoo and Sutch will function as the management team for the office.

Prior to joining Siuslaw Bank, Draggoo worked as a Financial Advisor for Morgan Stanley. He is a former Vice President of Centennial Bank, and was employed as a Bank Vice President and Loan Officer in Texas for six years prior to moving to Springfield. Draggoo received his B.A. degree in Mathematics from Washington State University, and served as an Instructor Pilot and Academic Instructor for the United States Air Force in the 1970s.

Draggoo is an experienced commercial lender. He is the Board Chair of the Springfield Renaissance Development Corporation, Past President of the Springfield Chamber of Commerce and Past President of the Rotary Club of Springfield. He has been named the Springfield Chamber First Citizen and the Springfield Chamber Business person of the year.

Prior to being promoted to her position in Springfield, Sutch worked in the Cottage Grove office of Siuslaw Bank. She is a former 20-year employee and Branch Manager of Umpqua Bank, and has years of training in bank management.

FLORENCE, OR, October 17, 2005 – Siuslaw Financial Group (SFGP), parent company of Siuslaw Bank and Carter & Carter Financial, today reported operating results for the third quarter and for the nine-month period ending September 30, 2005.

Consolidated net after-tax income for the third quarter totaled $1,315 million, a 10.6% increase over the same quarter a year ago when the company reported consolidated income of $1,189 million. Consolidated net after-tax earnings for the year to date totaled $4,132 million, up 17.6% when compared to $3,515 million reported last year for the same period. Diluted earnings per common share totaled $0.98 for the first three quarters of 2005, compared to $0.82 in 2004.

Johan Mehlum, chairman of the board and CEO of Siuslaw Financial Group and Siuslaw Bank said, “We continue to see a strong economy in Lane County and are pleased with our performance for the first three quarters of 2005.” Loans increased by $29.1 million, totaling $189.0 million on September 30, 2005, an 18.2% increase compared to $159.9 million reported last year.

The company reported total assets on September 30, 2005 of $278.4 million and total deposits of $241.4 million.

EUGENE, OR, September 21, 2005 - In front of a crowd of 400 local business professionals, Siuslaw Financial Group was awarded with the Community Caring Award at an awards gala at the Hult Center on Wednesday, Sept. 21. Siuslaw Financial Group was one of four local businesses that won the second annual Emerald Awards, given by the Eugene Chamber of Commerce.

Siuslaw Financial Group, the holding company of Siuslaw Bank and Carter & Carter, won the award for community caring. The chamber cited the company for “encouraging and compensating each employee to volunteer up to 40 hours in the community each year, for its scholarship contributions to local schools and for implementing an innovative arts affair netted $6,500 for local artists and $2,500 in donations to non-profits.”

“It is an honor to receive this award,” says Lonnie Iholts, president of Siuslaw Bank and Secretary of Siuslaw Financial Group. “The strength of a community is reflected in the integrity of its citizens and vitality of its businesses. Siuslaw Financial Group distinguishes itself by the demonstration of care for the communities in which our offices reside that is inherent in our corporate culture and all of its employees, from our line tellers to our CEO.”

The Eugene Area Chamber of Commerce developed the Emerald Awards program to demonstrate the important connection between the success of local business and the quality of life in our community. By recognizing finalists and winners in four categories – job growth, community caring, environmental values and innovation – the awards honor local businesses that make positive contributions to the health and vitality of our community.

The other award recipients were Emerald Valley Kitchen (environmental values), HydraCool (innovation) and Glory Bee Foods (job growth). More than 70 businesses were nominated for the awards.

FLORENCE, OR, September 8, 2005 - Johan Mehlum, the Chairman of the Board of Siuslaw Bank, announced today that Thomas (Tom) E. Draggoo has been hired as an Assistant Vice President and Branch Manager for the Springfield office. In addition, Debra Sutch has been hired as Operations Supervisor. The two will function as the management team for the office.

Prior to joining Siuslaw Bank, Draggoo worked as a Financial Advisor for Morgan Stanley. He is a former Vice President of Centennial Bank, and was employed as a Bank Vice President and Loan Officer in Texas for six years prior to moving to Springfield. Draggoo received his B.A. degree in Mathematics from Washington State University, and served as an Instructor Pilot and Academic Instructor for the United States Air Force in the 1970s.

Draggoo is an experienced commercial lender. He is the Board Chair of the Springfield Renaissance Development Corporation, Past President of the Springfield Chamber of Commerce and Past President of the Rotary Club of Springfield. He has been named the Springfield Chamber First Citizen and the Springfield Chamber Business person of the year.

Prior to being promoted to her position in Springfield, Sutch worked in the Cottage Grove office of Siuslaw Bank. She is a former 20-year employee and Branch Manager of Umpqua Bank, and has years of training in bank management.

Founded in 1964, Siuslaw Bank is Lane County’s oldest, independent community bank. Headquartered in Florence, the bank serves customers with retail banking offices in Cottage Grove, Creswell, Eugene, Florence, Mapleton, Oakridge, Pleasant Hill, Springfield and Veneta, with a private banking office in Eugene.

FLORENCE, OR, July 22, 2005 - Siuslaw Financial Group (SFGP), parent company of Siuslaw Bank and Carter & Carter Financial, today reported operating results for the second quarter and for the first six-month period ending June 30, 2005.

Consolidated net after-tax income for the second quarter totaled $1,423,000 a 19.8% increase over the same quarter a year ago when the company reported consolidated income of $1,187,515.

Net earnings for the first six months totaled $2,817,238 a 21.1% increase over the same period a year ago when the company reported $ 2,326,583 total income. Diluted earnings per common share totaled $0.66 compared to $0.54 for the same six-month period in 2004.

Johan Mehlum, chairman of the board and CEO of Siuslaw Financial Group and Siuslaw Bank said, “The increased earnings can be attributed to the 12.9% increase in the loan portfolio, which increased to $179.5 million from $159.0 million on June 30, 2004. Additionally, the company originated $12.4 million in residential mortgage loans that were sold to investors on the secondary market during the first six months of 2005.”

The company reported total assets on June 30, 2005 of $268.0 million, a 4.6% increase over the $256.1 million reported last year at the same time. Deposits increased to $227.8 million compared to $220.9 million on June 30, 2004. The Siuslaw Financial Group board of directors declared a $0.20 per share dividend for each of the first two quarters of 2005.

The donation to the City of Oakridge will fund the construction of a new amphitheater in Green Waters Park, which is located off of Highway 58. Along with providing an outdoor venue for music and entertainment, the amphitheatre will help revitalize economic development of tourism in the Oakridge/Westfir area.

Siuslaw Bank’s contribution to the Pleasant Hill Foundation has been specifically designated for the Pleasant Hill High School stage fund.

The Foundation revives the community tradition of strong support for schools, and enhances the overall quality of the Pleasant Hill School District. The non-profit organization has been promoting academic, enrichment and artistic programs in Pleasant Hill since 1991.

Founded in 1964, Siuslaw Bank is Lane County’s oldest independent bank. Headquartered in Florence, Siuslaw Bank has offices in Cottage Grove, Creswell, Eugene, Florence, Mapleton, Oakridge, Pleasant Hill Springfield and Veneta.

Consolidated net after-tax income for the quarter totaled $1,394 million, up 22.4% compared to $1,139 million reported last year for the same period. Earnings were boosted by continued strong loan demand coupled with a relative flat net interest margin. Diluted earnings per common share totaled $0.32 compared to $0.26 for the same quarter in 2004. In view of the strong performance and future projections, the Board of Directors increased the cash dividend to $0.20 per share, a 33% increase compared to $0.15 per share last year.

The company reported total assets as of March 31, 2005 at $260.8 million, a 9% increase compared to the same time in 2004. Loan volume reported at $164.3 million, an increase of 18.5% compared to the $138.6 million reported last year at the same time. Loan quality remains among the best in the industry, with no nonperforming assets reported this year or last year.

Siuslaw Financial Group, the parent company of Siuslaw Bank and Carter & Carter Financial, operates 10 offices, all located in Lane County, Oregon.

The dividend is a 33% increase over the prior quarter dividend of $0.15 per share and is the result of increased earnings during the first quarter of the year. Results will be published in early April. While the increase in the size of the dividend is substantial it is one that we feel can be maintained in the foreseeable future said Johan Mehlum, chairman of the board and chief executive officer.

Siuslaw Financial Group, the parent company of Siuslaw Bank and Carter & Carter Financial operates ten offices, all located in Lane County, Oregon.

The annual meeting and dinner for Siuslaw Financial Group shareholders will be held at 6:00 P.M. at the Florence office on April 25, 2005.