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Charles M. (Kim) Drackett, Jr. Retires From Ameriana Bancorp's Board Of Directors

Ameriana Bancorp (NASDAQ: ASBI) today announced that Charles M. (Kim) Drackett, Jr. has submitted his resignation as a Director of Ameriana Bancorp and Ameriana Bank, effective immediately, to spend more time with his family and to devote more attention to family business interests. Drackett has been a Director of Ameriana Bank since 1989 and Director of Ameriana Bancorp since its formation in 1990.

Speaking on behalf of the Board, Michael E. Kent, Chairman, said, "We are grateful for the many years of service that Kim has dedicated to Ameriana. During his tenure on the Board, he brought active interest, vision, leadership, understanding and wisdom to the deliberations of the Board and in his counsel to our President and Chief Executive Officer, Jerry Gassen. We wish Kim well as he places a greater focus on the personal aspects of his life." Kent noted that the Company has reduced the size of the Board of Directors to seven from eight directors.

Drackett is Chairman, President and General Manager of the 2,000-acre Fairholme Farms in Lewisville, Indiana. Prior to joining his father in the operation of Fairholme Farms in 1979, Kim was associated with the Drackett Products Company, a subsidiary of Bristol-Myers in Cincinnati, and was involved in training, sales, sales promotions and marketing. The Drackett Products Company, makers of Windex and Drano, was founded by his great-grandparents, Phillip W. and Sallie Bolton Drackett.

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).

Copyright Business Wire 2010

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