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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 19, 1996
AMERIANA BANCORP
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(Exact name of registrant as specified in its charter)
Indiana 0-18392 35-1782688
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
2118 Bundy Avenue, New Castle, Indiana 47362-1048
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(317) 529-2230
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Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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On June 19, 1995 the registrant announced that it is commencing a stock
repurchase program to acquire up to 10% of the Company's outstanding common
stock, or approximately 330,000 shares. For additional information, reference
is made to the Registrant's press release dated June 19, 1996 which is attached
hereto as Exhibit 99.1 and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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Exhibit 99.1 - - Press Release dated June 19, 1996.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERIANA BANCORP
By: /s/ Harry J. Bailey
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Harry J. Bailey
President
Date: June 24, 1996
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Ameriana News Release
Ameriana Bancorp
2118 Bundy Avenue
P.O. Box H
New Castle, Indiana
47362 1048
317-529-2230/317-462-1355
Contact: Harry J. Bailey
President and Chief Executive Officer
(317) 529-2230
AMERIANA TO REPURCHASE UP TO 10% OF ITS OUTSTANDING SHARES
NEW CASTLE, Indiana (June 19, 1996) - Ameriana Bancorp (The Nasdaq Stock Market:
ASBI) today announced that the Company's Board of Directors has approved a new
stock buy back program which authorizes the repurchase of up to 10% of the
Company's outstanding common stock, or approximately 330,000 shares. This
repurchase program will depend on market conditions and, accordingly, there is
no guaranty as to the exact number of shares to be repurchased by the Company.
Harry J. Bailey, President and Chief Executive Officer of Ameriana Bancorp,
stated that the Board of Directors has authorized the expenditure of up to $4.5
million for the repurchase program, which will expire in June 1997. Bailey
explained that the Board of Directors considers Ameriana's common stock to be an
attractive investment at this time. Share repurchases generally would be
effected through open market purchases, he said, although unsolicited negotiated
transactions may occur.
Under the Board's previous buy back authorization, which expires this
month, Ameriana has repurchased approximately 245,000 shares. The total cost of
those shares was $3.4 million.
At March 31, 1996, Ameriana Bancorp reported total assets of $383.1 million
and shareholders' equity of $44.6 million, or 11.6% of total assets.
Ameriana Bancorp, through its wholly owned subsidiaries, Ameriana Bank, a
federal savings bank, and Deer Park Federal Savings and Loan Association, offers
an extensive line of banking services through branches in central Indiana and in
the greater Cincinnati, Ohio area. Ameriana Bancorp also offers title insurance
through Indiana Title Insurance Company. In addition to its banking services,
Ameriana Bank, through Ameriana Financial Services, Inc., has an interest in a
life insurance company, owns Ameriana Insurance Agency - a full-service
insurance agency, and provides a full line of investments and securities
products in its brokerage center.
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