Pinnacle Bancshares, Inc. Odd Lot Tender Offer to Expire

  
    
  
  
    
      Pinnacle Bancshares, Inc. (AMEX: PLE) today announced that its tender 
      offer for the purchase of all shares of its common stock held by persons 
      owning 99 or fewer shares will expire at the close of business on 
      January 18, 2008, at 5:00 p.m., Central Time.
    
    
      Pinnacle noted that approximately 70 shareholders of record had tendered 
      approximately 1,836 shares as of January 17, 2008. As a result of the 
      shareholders who have tendered their stock, the Company has met its 
      goals of reducing servicing costs for small accounts and to reduce the 
      number of shareholders of record to fewer than 300.
    
    
      Shareholders who tendered their shares under the odd lot tender offer 
      will be paid $16.25 per share and an incentive payment of $50 per 
      shareholder. Pinnacle Bancshares expects to issue checks to shareholders 
      who properly tendered their shares on or about January 24, 2008.
    
    
      About Pinnacle Bancshares
    
    
      Pinnacle Bancshares, Inc. is a bank holding company headquartered in 
      Jasper, Alabama. Its wholly-owned subsidiary, Pinnacle Bank, has 
      approximately $240 million in assets and operates seven offices in 
      central and northwest Alabama.