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Ameriana News Release
Ameriana Bancorp
2118 Bundy Avenue
P.O. Box H
New Castle, Indiana Contact: Jerome J. Gassen
47362-1048 President and Chief Executive Officer
765-529-2230/1-800-487-2118 (765) 529-2230
AMERIANA BANCORP SUBSIDIARY, AMERIANA BANK AND TRUST, SB
NAMES TWO NEW COMMERCIAL LENDING OFFICERS
NEW CASTLE, Ind. (August 16, 2006) - Ameriana Bancorp (NASDAQ:ASBI) today
announced that its wholly owned subsidiary, Ameriana Bank and Trust, SB, has
expanded its commercial lending department with the hiring of two new lending
officers. Timothy M. Ogburn and Stephen L. Kaiser have been added to the
commercial lending department as Vice Presidents. Both will be headquartered at
Ameriana Bank and Trust's Commercial Lending Center in Avon, Indiana.
Ogburn (age 41) is a founder and director of Symphony Bank in
Indianapolis, a de nova bank that opened in June 2005. There he has served as
Executive Vice President and Chief Lending Officer and was responsible for all
new business development. Prior to that, he was Vice President, Commercial Real
Estate Relationship Manager for Fifth Third Bank in Evansville, Indiana, was
Senior Vice President, Client Development Officer for Paragon Commercial Bank
in Raleigh, North Carolina, and served as First Vice President, Commercial Loan
Officer for Central Carolina Bank in Raleigh, North Carolina. Ogburn began his
banking career with Wachovia Bank in Asheville, North Carolina. Ogburn earned a
B.A. in Economics from the University of North Carolina at Chapel Hill and is a
graduate of the Graduate School of Banking of the South at Louisiana State
University. He serves on the boards of directors of the Evansville Housing
Trust Fund and the Buffalo Trace Council of the Boy Scouts of America.
Kaiser (age 52) most recently served as Vice President/Commercial Lender
for Hendricks County Bank & Trust Company in Brownsburg, Indiana, where he
managed the Plainfield office and a staff of 11. Prior to that, Kaiser was Vice
President/Commercial Loan Officer at the Plainfield office of Bank One,
Indianapolis. He began his banking career with Huntington National Bank
(formerly First National Bank of Danville), ultimately rising to the position
of branch manager and Assistant Vice President. Kaiser earned a B.A. degree
from Indiana University and received additional bank-related training from the
University of Indianapolis and Bank One.
Commenting on the additions to the Commercial Lending team, Jerome J.
Gassen, President and Chief Executive Officer, said, "For more than a year, we
have worked diligently on a broad plan to reorient our business toward a
community bank model and expand the expertise of our organization with a view
toward strengthening our ability to sustain a higher level of performance and
profitability. To this end, we have redoubled our efforts to build our
commercial lending business, adding a senior lender last year and separating
credit administration from lending to promote improved credit quality. These
steps already have produced clear benefits for us, as seen in a year-over-year
increase in our loan portfolio of almost 15% or $28,338,000 at June 30, 2006,
which was driven primarily by commercial lending.
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ASBI Expands Commercial Lending Department
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August 16, 2006
"Now, with the appointments of Tim Ogburn and Steve Kaiser to our
Commercial Lending Department, these efforts take on added momentum," Gassen
added. "These gentlemen bring a combined total of more than 40 years of
experience to our department, much of it directly involved with commercial
lending, and they are well known in the Indianapolis area. We expect their
skills, experience and knowledge of the Avon business community will add
immensely to our commercial lending capabilities and the continuing progress we
hope to achieve in building this department."
Ameriana Bancorp is a bank holding company. Through its wholly owned
subsidiary, Ameriana Bank and Trust, SB, 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 owns Ameriana
Insurance Agency, a full-service insurance agency, and has interests in Family
Financial Holdings, Inc. and Indiana Title Insurance Company. Ameriana
Financial Services offers securities and insurance products through
Linsco/Private Ledger.
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. 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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