Ameriana Bancorp (ASBI) 8-K/A Ameriana Bancorp Reports a Revision to Earnings

Exhibit 99.1

Contact:	Jerome J. Gassen
	President and Chief Executive Officer
	(765) 529-2230

AMERIANA BANCORP REPORTS A REVISION TO EARNINGS

FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2015

NEW CASTLE, Ind. (August 7, 2015) – Ameriana Bancorp (NASDAQ: ASBI), parent company for Ameriana Bank, today announced that earnings for the second quarter of 2015 previously reported as $278,000, or $0.09 per basic and diluted share, have been revised to $188,000, or $0.06 per basic and diluted share. Earnings for the six month period ended June 30, 2015 have been revised from the previously reported $780,000, or $0.26 per basic and diluted share to $690,000, or $0.23 per basic and diluted share.

The revised financial results reflect increases in income tax expense for the three-month and six-month periods ended June 30, 2015, to $117,000 and $274,000, respectively. The increase in income tax expense of $90,000 for each period was due to the non-deductible nature of a portion of the merger-related expenses incurred by the Company in the second quarter of 2015.

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, the possibility of unforeseen events affecting the industry generally, uncertainties associated with newly developed or acquired operations, the outcome of pending litigation, market disruptions and other effects of terrorist activities, and the ability to successfully complete the previously announced merger with First Merchants Corporation on the expected timeframe. 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, 2014, on file with the Securities and Exchange

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ASBI Reports Revised Second Quarter 2015 Results

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August 7, 2015

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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ASBI Reports Revised Second Quarter 2015 Results

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August 7, 2015

AMERIANA BANCORP

Unaudited Financial Highlights

(In thousands, except per share amounts)

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Interest income	$	4,278		$	4,385		$	8,447		$	8,859
Interest expense		631			755			1,277			1,513
Net interest income		3,647			3,630			7,170			7,346
Provision for loan losses		—			150			105			300
Net interest income after provision for loan losses		3,647			3,480			7,065			7,046
Other income		1,513			1,383			3,072			2,747
Other expense		4,855			4,037			9,173			7,954
Income before income taxes		305			826			964			1,839
Income tax		117			223			274			507
Net income	$	188		$	603		$	690		$	1,332
Earnings per share:
Basic	$	0.06		$	0.20		$	0.23		$	0.45
Diluted	$	0.06		$	0.20		$	0.23		$	0.45
Weighted average shares outstanding:
Basic		3,027			2,992			3,024			2,991
Diluted		3,041			2,997			3,039			2,996
Dividends declared per share	$	0.04		$	0.02		$	0.08		$	0.04
Net interest margin (fully tax-equivalent basis)		3.50	%		3.56	%		3.47	%		3.64	%

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ASBI Reports Revised Second Quarter 2015 Results

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August 7, 2015

AMERIANA BANCORP

Unaudited Financial Highlights (Continued)

(In thousands, except per share amounts)

	June 30, 2015			Dec. 31, 2014			June 30, 2014
Total assets	$	480,699		$	472,818		$	474,440
Cash and cash equivalents		21,487			33,142			41,552
Interest-bearing time deposits		3,916			4,164			2,974
Investment securities held to maturity		17,141			7,082			2,346
Investment securities available for sale		47,820			48,084			52,035
Loans receivable		331,326			320,016			316,919
Allowance for loan losses		3,904			3,903			4,004
Loans, net		327,422			316,113			312,915
Allowance for loan losses as a percentage of loans receivable		1.18	%		1.22	%		1.26	%
Non-performing loans	$	4,542		$	4,391		$	4,572
Allowance for loan losses as a percentage of non-performing loans		86.0	%		88.9	%		87.6	%
Deposits:
Non-interest-bearing	$	67,711		$	61,063		$	57,622
Interest-bearing		321,692			317,884			319,613
		389,403			378,947			377,235
Borrowed funds	$	42,810		$	45,810		$	50,810
Shareholders’ equity		41,439			41,052			39,576
Book value per share		13.68			13.59			13.22
Regulatory capital ratios for Ameriana Bank (A):
Tier 1 leverage capital ratio		9.41	%		9.49	%		9.44	%
Common equity tier 1 risk-based capital ratio		13.44	%		—			—
Tier 1 risk-based capital ratio		13.44	%		14.38	%		14.46	%
Total risk-based capital ratio		14.62	%		15.64	%		15.72	%

(A) Ratios for June 30, 2015 were calculated under new Basel III capital rules.

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