EXHIBIT 99.1
For Immediate Release
Date: July 21, 2000
Contact: Steven R. Abel, Chairman
Blue River Bancshares, Inc.
(317) 398-9721
Shelbyville, Indiana--Blue River Bancshares, Inc. (Nasdaq SC: BRBI) today
announced that Robert C. Reed will no longer serve as its Vice Chairman,
President and Chief Executive Officer, or as a director and the President and
Chief Executive Officer of Shelby County Bank (Blue River's wholly-owned
subsidiary). Blue River also announced that it would not make any severance
payments to Mr. Reed.
Mr. Steven R. Abel, a director of Blue River for three years and the
Chairman of the Board of Directors, has been appointed acting President and
Chief Executive Officer of Blue River and the Bank. Mr. Abel previously served
as Vice President of Fifth Third Bank of Central Indiana and its predecessor and
served on their management teams. His banking career began in 1974.
A committee of the Board of Directors has been formed to search for a
permanent President and Chief Executive Officer for Blue River and the Bank.
Larry Toombs, the former Executive Vice President of Blue River and the Bank,
has been retained as a consultant to assist the Bank prior to the employment of
a permanent President and Chief Executive Officer.
* * *
