First Place Financial Corp., and Camco Financial Corporation in a joint press conference have stated that both companies have decided to terminate the planned acquisition.

The latest action has been taken by mutual understanding. Both companies had signed the definitive agreement on May 7, 2008.

Under the terms of the agreement, neither party will incur any termination fees due to the cancellation of the merger and the parties further agreed to mutually release one another from any claims of liability relating to the merger transaction.

First Place Financial Corp. is a $3.4 billion financial services holding company based in Warren, Ohio. Camco Financial Corporation, holding company of Advantage Bank, is a multi-state financial services holding company headquartered in Cambridge, Ohio.