First Place Receives Nasdaq Notification of Extension of Time to Regain Compliance

First Place Financial Corp.

announced today that it has received a letter from the Nasdaq Office of General Counsel, Hearings informing the Company that the Nasdaq Listing Qualifications Panel (the "Panel") has determined to grant the request of the Company to remain listed on The Nasdaq Stock Market while the Company works to regain compliance with the filing requirements for continued listing. In the letter, it was acknowledged that the Company appears committed in its effort to regain compliance and has been diligently working to resolve the loan loss matter and to issue the related restatements. In accordance with the Panel's determination, on or before November 10, 2011, the Company must file with the Securities and Exchange Commission all of the filings that are delinquent as of that date, including its Quarterly Reports on Form 10-Q for the quarters ended September 30, 2010, December 31, 2010, and March 31, 2011, and the restatements of the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2010, and its Quarterly Reports on Form 10-Q for the quarters ended September 30, 2009, December 31, 2009, and March 31, 2010. "We are pleased with Nasdaq's approval of the Company's continued listing and we are committed in our efforts to regain compliance with the Nasdaq market rules," stated Steven R. Lewis, President and Chief Executive Officer. "We believe we will be able to issue our restated financial statements for 2010 and 2009, as well as our financial statements for the current year in accordance with the Panel's timeline," continued Lewis.