Exhibit 99

               PRESS RELEASE OF FIRST CLOVER LEAF FINANCIAL CORP.


January 22, 2008

                        FIRST CLOVER LEAF FINANCIAL CORP.
                          ANNOUNCES QUARTERLY DIVIDEND


       EDWARDSVILLE, Illinois - Media Contact Dennis Terry (618) 656-6122

First  Clover  Leaf  Financial  Corp.  (the  "Company")  (Nasdaq:  FCLF -  News)
announced  the  approval  by its Board of  Directors  of a cash  dividend on its
outstanding  common stock of $0.06 per share for the quarter ended  December 31,
2007. The dividend will be payable to  stockholders of record as of February 15,
2008 and is expected to be paid on February 22, 2008.  The Company has 8,547,831
shares of common stock outstanding.
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