October 3, 2003

Emclaire Financial Corp. Announces Management Change

EMLENTON, Pa.--(BUSINESS WIRE)--Oct. 3, 2003--David L. Cox, Chairman of the Board, President and Chief Executive Officer of Emclaire Financial Corp. (OTCBB:EMCF), the parent holding company of the Farmers National Bank of Emlenton, announced the resignation of William C. Marsh, Treasurer, Secretary and Principal Accounting Officer of the Corporation and Senior Vice President and Chief Financial Officer of the Bank, effective Friday, October 3, 2003.

Mr. Cox noted that Mr. Marsh was leaving to pursue a similar position with a larger financial institution in Pittsburgh, Pennsylvania, and that he and Mr. Marsh were working closely to effectively transition management of the Corporation's finance and accounting functions. The company's board of directors, including the audit committee, will evaluate whether to fill the vacancy with an outside hire or internally. In the interim, Shelly L. Rhoades will serve as the Corporation's principal accounting officer and other tasks will be delegated to other employees at the Bank. Ms. Rhoades is a certified public accountant with more than ten years of finance and accounting experience and has assisted in the management of the Bank's financial functions for almost three years.

Mr. Cox stated, "Bill has been a great asset over the past two years and has instituted a number of programs that are, and will be, beneficial to our community bank and should help smooth the transition. Thanks to Bill we have a solid financial model upon which to build for the future. We wish Bill well in his new role."

According to Marsh, "I have enjoyed my time at Emclaire, and I have only respect and admiration for the entire Farmers National Bank family. I believe we have set a strong foundation for the future. The opportunity to move to another financial institution, while unexpected, is fitting at this juncture of my career."

Emclaire Financial Corp. is the parent company of the Farmers National Bank of Emlenton, an independent, nationally chartered, FDIC-insured community commercial bank headquartered in Emlenton, Pennsylvania, operating ten full service offices in Venango, Butler, Clarion, Clearfield, Elk and Jefferson Counties, Pennsylvania. For more information, visit the Corporation's website at "www.emclairefinancial.com".

    CONTACT: Emclaire Financial Corp., Emlenton
             David L. Cox, 724-867-2311

    SOURCE: Emclaire Financial Corp.

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