LSB FINANCIAL CORP
10-C, 1996-07-11
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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Form 10-C

Securities and Exchange Commission
Washington, DC 20549

Report by issuer of securities quoted on The Nasdaq Stock Market,
filed pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 and Rule 13a-17 or 15d-17 thereunder.

LSB Financial Corporation
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EXACT NAME OF ISSUER AS SPECIFIED IN CHARTER

101 Main Street, Lafayette, Indiana  47901
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ADDRESS OF PRINCIPAL EXECUTIVE OFFICES

(317) 742-1064
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ISSUER'S TELEPHONE NUMBER (INCLUDING AREA CODE)

I.   Change in Number of Shares Outstanding
Indicate any change (increase or decrease) of five percent or
more in the number of shares outstanding:

1.   Title of security     Common Stock, par value $.01 per share
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2.   Number of shares outstanding before the change      964,709
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3.   Number of shares outstanding after the change       917,760*
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4.   Effective date of change                             7-2-96
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5.   Method of change                           Stock repurchase

Specify method (such as merger, acquisition, exchange,
distribution, stock split, reverse split, acquisition of stock
for treasury, etc.)

Give brief description of transaction

The Company completed its stock repurchase program.
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*Includes 1,286 shares of restricted stock awarded to an officer
of the Company.

II.  Change in Name of Issuer

1.   Name prior to change
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2.   Name after change
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3.   Effective date of charter amendment changing name
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4.   Date of shareholder approval of change, if required
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7/9/96    /s/ Mary Jo David, VP CFO Sec/Treas.
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DATE      OFFICER'S SIGNATURE AND TITLE



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