UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
____________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 19, 2007
AMERIANA BANCORP
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(Exact name of registrant as specified in charter)
INDIANA 0-22423 35-1782688
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
2118 BUNDY AVENUE, NEW CASTLE, INDIANA 47263-1048
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (765) 529-2230
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NOT APPLICABLE
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
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APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENT OF
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CERTAIN OFFICERS
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(b) On January 19, 2007, Bradley Smith, the Senior Vice
President-Chief Financial Officer and Treasurer of Ameriana
Bancorp (the "Company") and its wholly-owned subsidiary, Ameriana
Bank, SB (the "Bank") resigned.
(c) On January 22, 2007, John J. Letter was appointed as the Senior
Vice President, Chief Financial Officer and Treasurer of the
Company and the Bank.
Mr. Letter, 61, served as Regional President with Old National
Bank in Muncie, Indiana from September 2004 to April 2005. Prior
to being named Regional President, Mr. Letter also served as
District President with Old National Bank from November 2003 to
September 2004 and Regional Chief Financial Officer - Old National
Bank from August 2000 to November 2003. Mr. Letter was also Chief
Financial Officer and Controller with American National Bank in
Muncie from March 1997 to August 2000. More biographical
information about Mr. Letter is set forth in the press release
attached as Exhibit 99.1 of this Current Report on Form 8-K, which
is incorporated herein by reference.
(e) The Company and the Bank entered into a letter agreement with Mr.
Letter that provided an offer of employment under the following
terms:
o Mr. Letter will begin employment with the Company and the Bank
as Senior Vice President, Chief Financial Officer and
Treasurer of the Company and the Bank on January 22, 2007;
o Mr. Letter will receive a base salary of $130,000 per year;
o Mr. Letter will be eligible to receive a bonus and incentive
stock options and other incentive forms of ownership as
granted by the Board of Directors from time to time;
o Mr. Letter will receive the use of an automobile;
o Mr. Letter will be awarded 1,000 stock options on his start
date; and
o Mr. Letter would receive an employment and change in control
agreement.
The agreement also provides for Mr. Letter's participation in certain
benefits, including:
o individual or family health insurance, which includes dental
and prescription coverage, in which the Company will pay the
vast majority of the premiums;
o participation in the Bank's 401(k) plan after three months of
employment in which the Company will match 4% of the first 4%
of salary that Mr. Letter contributes; and
o four weeks of vacation per year.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
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(a) Financial Statements of Businesses Acquired: Not applicable
(b) Pro Forma Financial Information: Not applicable
(c) Shell Company Transactions: Not applicable
(d) Exhibits
Number Description
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99.1 Press Release dated January 22, 2007
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERIANA BANCORP
Dated: January 25, 2007 By: /s/ Jerome J. Gassen
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Jerome J. Gassen
President and Chief Executive Officer