PERMANENT BANCORP INC
8-K, 1997-05-27
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K


                                 CURRENT REPORT


                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934



         Date of Report (Date of earliest event reported): May 19, 1997





                             PERMANENT BANCORP, INC.
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)





    Delaware                        0-23370                     35-1908797
- --------------------------------------------------------------------------------
  (State or other            (Commission File Number)         (IRS Employer
  jurisdiction of                                              Identification
   incorporation)                                                 Number)





101 Southeast Third Street, Evansville, Indiana                   47708
- --------------------------------------------------------------------------------
    (Address of principal executive offices)                    (Zip Code)





        Registrant's telephone number, including area code (812) 428-6800


                                       N/A
- --------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)




                                     - 1 -
<PAGE>
Item 5.           Other Events.

         On May 19,  1997,  Permanent  Bancorp,  Inc.  issued the press  release
attached hereto as Exhibit 99 announcing the completion of its assumption of the
deposit  liabilities and its acquisition of certain assets  asscociated with the
branch of NBD Bank, N.A. in Newburgh, Indiana.




















































                                      - 2 -
<PAGE>



                                   SIGNATURES


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this  report to be signed  its  behalf by the
undersigned hereunto duly authorized.



                                                     PERMANENT BANCORP, INC.



Date: May 22, 1997                                   By: /s/Donald P. Weinzapfel
                                                         -----------------------
                                                         Donald P. Weinzapfel
                                                         Chairman of the Board,
                                                         President and Chief
                                                         Executive Officer




































                                      - 3 -

 



















                                   Exhibit 99
































                                      - 4 -
<PAGE>
Permanent
Bancorp, Inc., Holding Company for Permanent Federal Savings Bank

                                  NEWS RELEASE



Donald P. Weinzapfel
Chairman of the Board,                                     FOR IMMEDIATE RELEASE
President & Chief                                          ---------------------
Executive Officer                                              May 19, 1997
Permanent Bancorp, Inc.
101 S.E. Third Street                                    FOR FURTHER INFORMATION
Evansville, IN  47708                                    -----------------------
812/428-6800                                                   Carl E. Root
                                                               812/428-6804


                          PERMANENT BANCORP SUBSIDIARY
                            ANNOUNCES ACQUISITION OF
                                  BRANCH OFFICE


         (May 19, 1997) -- Permanent Bancorp, Inc. (NASDAQ - "PERM"),  parent of
Permanent  Federal  Savings  Bank,  Evansville,  Indiana,  announced  today  the
completion of its assumption of the deposit  liabilities  and its acquisition of
certain  assets  associated  with the  branch of NBD  Bank,  N.A.  in  Newburgh,
Indiana.

         "The  branch  in  Newburgh  provides  a  more  desirable  location  for
expansion of Permanent's  franchise," stated Donald P. Weinzapfel,  Chairman and
CEO of the company. "We are pleased to acquire the office and believe we will be
better able to serve the residents in the Newburgh area." At closing, the branch
had deposit liabilities of approximately $5.5 million.

         Permanent  Bancorp,  Inc.,  at March  31,  1997,  had  assets of $423.8
million and deposits of $280.8 million.









                                      -END-












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