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Ameriana Bank Announces Plan To Close McCordsville Banking Center

Ameriana Bank, the wholly owned subsidiary for Ameriana Bancorp (NASDAQ:ASBI), today announced that it has determined to close its McCordsville Banking Center located at 6653 West Broadway, McCordsville, Indiana. The proposed closing date is October 13, 2012.

“The decision to consolidate our McCordsville Banking Center followed a thorough review of our operations,” said Jerome J. Gassen, President and Chief Executive Officer of the Company. “Customers of the McCordsville Banking Center will continue to be served through our Fishers Banking Center and our other 11 banking centers conveniently located throughout central Indiana.”

“We remain committed to superior customer service,” said Gassen. “At the same time, we want to develop a branch network that will meet the changing needs of customers and maximizes profitability for our shareholders.”

Ameriana Bancorp is a bank holding company. Through its wholly owned subsidiary, Ameriana Bank, the Company offers an extensive line of banking services and provides a range of investments and securities products through banking centers in the central Indiana area. Ameriana Bank owns Ameriana Insurance Agency, a full-service insurance agency, and Ameriana Financial Services, which offers securities and insurance products through LPL Financial (Member FINRA/SIPC).

This news release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially from actual results. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks and uncertainties involve general economic trends, changes in interest rates, loss of deposits and loan demand to other financial institutions, substantial changes in financial markets, changes in real estate value and the real estate market, regulatory changes, possibility of unforeseen events affecting the industry generally, the uncertainties associated with newly developed or acquired operations, the outcome of pending litigation, and market disruptions and other effects of terrorist activities. For discussion of these and other risks that may cause actual results to differ from expectations, refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2011, on file with the Securities and Exchange Commission, including the section entitled "Risk Factors." The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required under the rules and regulations of the Securities and Exchange Commission.

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