Exhibit 99 DCB FINANCIAL CORP ANNOUNCES
COST
CONTROL INITIATIVES LEWIS CENTER, Ohio, July 18
— DCB Financial Corp, (OTC Bulletin Board: DCBF), parent holding company
of The Delaware County Bank & Trust Company (the “Bank”), Lewis
Center, Ohio, has announced the closure of five banking-center locations, a
corporate restructure and a reduction in force to improve its efficiency ratio
and reduce overall operating expenses. The company expects to reduce annualized
operating, salary, and benefit costs by more than $1 million annually with
these initiatives. “During the past two years, we
implemented strategies to systematically reduce total assets from
$715 million in September 2009 to $587 million at the end of the
first quarter 2011,” said the Bank’s Interim President Thomas R.
Whitney. “The ongoing review of our branch and staffing needs, coupled
with the implementation of these initiatives, will help us align our required
resources with the size of the corporation at the present time.” The affected banking-center
locations include Avery Road (6820 Perimeter Loop Rd., Dublin), Marysville
Plaza (1055 W. Fifth St., Marysville), Ostrander (10 W. North St., Ostrander),
Polaris (1942 Polaris Parkway, Columbus) and William Street (33 W. William St.,
Delaware). All locations will close at the end of business day Friday,
October 14, 2011. Fifteen positions were eliminated as
a result of the retail closures. The remaining branch locations will
operate with a new management format. Three Regional Managers will supervise
overall office operations and will manage the newly created position of
“Office Manager.” In addition to the branch changes, sixteen
additional Corporate Center positions were also eliminated. The entire reorganization is
expected to reduce staff size by 31 positions. Affected employees were provided
comprehensive severance packages. The affected employees will also have the
option to apply for other positions within the company as they become available. “We regret having to implement
these measures, particularly the impact on the employees affected by the
reduction in staff,” said Whitney. “However, we believe that these
changes are necessary and in line with our strategic plan to return the company
to profitability.” Management selected the locations to
be closed based upon several criteria, including the location, number of
customer transactions, deposit base, profitability and growth potential. “We understand the gravity of
these changes; however, these initiatives were taken only after careful
analysis and consideration and are strategically appropriate and consistent
with management’s responsibility to shareholders,” noted Board
Chair Vicki J. Lewis. “Our board and management team both recognize the
need to reduce expenses given our business plan and economic conditions.” Senior managers have plans prepared
for all affected departments to guarantee that business operations remain
uninterrupted and that the level of customer service is continued.  3




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Business of DCB Financial
Corp 
DCB Financial Corp (the “Corporation”) is a financial
holding company formed under the laws of the State of Ohio. The Corporation is
the parent of The Delaware County Bank & Trust Company, (the
“Bank”) a state-chartered commercial bank. The Bank conducts
business from its main offices at 110 Riverbend Avenue in Lewis Center, Ohio,
and through its 14 full-service branch offices located in Delaware County, Ohio
and surrounding communities. The Bank provides customary retail and commercial
banking services to its customers, including checking and savings accounts,
time deposits, IRAs, safe deposit facilities, personal loans, commercial loans,
real estate mortgage loans, night depository facilities and trust and
personalized wealth management services. The Bank also provides cash
management, bond registrar and payment services. The Bank offers data
processing services to other financial institutions; however such services are
not a significant part of its current operations or revenues. Application of Critical
Accounting Policies 
DCB’s consolidated financial statements are
prepared in accordance with accounting principles generally accepted in the
United States and follow general practices within the financial services
industry. The application of these principles requires management to make
estimates, assumptions, and judgments that affect the amounts reported in the
financial statements and accompanying notes. These estimates, assumptions, and
judgments are based on information available as of the date of the financial
statements; as this information changes, the financial statements could reflect
different estimates, assumptions, and judgments. The most significant accounting
policies followed by the Corporation are presented in Note 1 of the audited
consolidated financial statements contained in the Corporation’s 2010
Annual Report to Shareholders. These policies, along with the disclosures
presented in the other financial statement notes and in this financial review,
provide information on how significant assets and liabilities are valued in the
financial statements and how those values are determined. Forward-Looking Statements

Certain statements in this report constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, such as statements relating to the financial condition and
prospects, lending risks, plans for future business development and marketing
activities, capital spending and financing sources, capital structure, the
effects of regulation and competition, and the prospective business of both the
Corporation and its wholly-owned subsidiary The Delaware County Bank &
Trust Company (the “Bank”). Where used in this report, the word
“anticipate,” “believe,” “estimate,”
“expect,” “intend,” and similar words and expressions,
as they relate to the Corporation or the Bank or their respective management,
identify forward-looking statements. Such forward-looking statements reflect
the current views of the Corporation and are based on information currently
available to the management of the Corporation and the Bank and upon current
expectations, estimates, and projections about the Corporation and its
industry, management’s belief with respect thereto, and certain
assumptions made by management. These forward-looking statements are not
guarantees of future performance and are subject to risks, uncertainties, and
other factors that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. Potential risks and
uncertainties include, but are not limited to: (i) significant increases
in competitive pressure in the banking and financial services industries;
(ii) changes in the interest rate environment which could reduce
anticipated or actual margins; (iii) changes in political conditions or
the legislative or regulatory environment; (iv) general economic
conditions, either nationally or regionally (especially in central Ohio),
becoming less favorable than expected resulting in, among other things, a
deterioration in credit quality of assets; (v) changes occurring in
business conditions and inflation; (vi) changes in technology;
(vii) changes in monetary and tax policies; (viii) changes in the
securities markets; and (ix) other risks and uncertainties detailed from
time to time in the filings of the Corporation with the Securities and Exchange
Commission. The Corporation does not undertake,
and specifically disclaims any obligation, to publicly revise any
forward-looking statements to reflect events or circumstances after the date of
such statements or to reflect the occurrence of anticipated or unanticipated
events.  4