CIB Marine Bancshares, Inc. Extends Time for Holders of Trust Preferred Securities to Vote on Reorganization Plan

PEWAUKEE, WI--(Marketwire - August 18, 2009) - CIB Marine Bancshares, Inc. (PINKSHEETS: CIBH)
(CIB MARINE) said today that it has decided to extend the time allowed for
voting on its proposed reorganization plan after learning it had not yet
received sufficient votes from its trust preferred security holders to
approve the plan.

CIB Marine Bancshares is the holding company for CIBM Bank that operates as
Central Illinois Bank in mid-state Illinois and as Marine Bank in the
Milwaukee area, Indianapolis and Scottsdale. The bank and its branches are
not affected by the extension or the holding company's reorganization
effort.

John Hickey, Jr., Chairman and CEO of the holding company, said that it has
opted to extend the voting period to September 9, 2009 so that holders of
the trust preferred securities can give further consideration to the
proposed reorganization.

"We will use this additional time to talk with the holders of these trust
preferred securities and share with them our reasons for believing that
this is the best solution for all those involved," Hickey said.

"The bank is in a strong position, and these holding company efforts are
separate and have no impact on the operations of the bank," Hickey added,
noting that the bank is regulated separately from the holding company by
both federal and state regulators and that its accounts are insured by the
FDIC.

"Our bank has the capital and resources to maintain a safe and secure
position and remains committed to meeting the ongoing needs of our valued
customers," Hickey said.

In July 2009, the holding company proposed to exchange its trust preferred
securities for non-cumulative perpetual preferred stock. Holders of the
debt securities had until August 17, 2009, to vote on the proposal.

This statement contains forward-looking information. Actual results could
differ materially from those indicated by such information. Information
regarding risk factors and other cautionary information is available in
Item 1A of CIB Marine's Annual Report on Form 10-K for the period ended
December 31, 2008 and updated in Item 1A of Part II of CIB Marine's
Quarterly Report on Form 10-Q for the quarter ended June 30, 2009.