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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: June 26, 1997
(Date of earliest event reported)
AMERIANA BANCORP
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(Exact name 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)<PAGE>
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ITEM 5. OTHER EVENTS.
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On June 26, 1997 the registrant announced that it is
commencing a stock repurchase program to acquire up to 300,000
shares of the Company's outstanding common stock. The Company
currently has approximately 3.3 million shares outstanding. For
additional information, reference is made to the Registrant's
press release dated June 26, 1997 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 26, 1997.
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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: July 2, 1997
AMERIANA NEWS RELEASE
Ameriana Bancorp
2118 Bundy Avenue
P.O. Box H
New Castle, Indiana
47362-1048
765-529-2230/1-800-487-2118
Contact: Harry J. Bailey
President and Chief Executive Officer
(765) 529-2230
AMERIANA TO REPURCHASE UP TO 300,000 OF ITS OUTSTANDING SHARES
NEW CASTLE, Indiana (June 26, 1997) - 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 300,000 shares of the
Company's outstanding common stock. 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. Currently Ameriana has approximately 3.3 million
average shares outstanding.
Harry J. Bailey, President and Chief Executive Officer of
Ameriana Bancorp, stated that the Board of Directors has
authorized the expenditure of up to $5.0 million for the
repurchase program, which will expire in June 1998. 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 127,966 shares. The
total cost of those shares was approximately $1.9 million.
At March 31, 1997, Ameriana Bancorp reported total assets of
$402.2 million and shareholders' equity of $43.6 million, or
10.9% 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 centers.
