Exhibit 99






                           NEWS RELEASE

Donald P. Weinzapfel
Chairman of the Board,             FOR IMMEDIATE RELEASE
President & Chief                    April 9, 1998
Executive Officer
Permanent Bancorp, Inc.            FOR FURTHER INFORMATION
101 S.E. Third Street                Murray J. Brown
Evansville, IN 47708                 Executive Vice President
812-428-6800                         812/428-6805


PERMANENT BANCORP, INC. NAMES NEW DIRECTOR

    (April 9, 1998) -- Permanent Bancorp, Inc. (NASDAQ: "PERM"),
parent of Permanent Federal  Savings  Bank, Evansville, Indiana,
today  announced  that  Daniel L. Schenk has  been  named to its
Board of Directors.  Mr. Schenk is Chancellor of IVY Tech  State
College, Evansville Region and resides in Evansville.

    Permanent Bancorp, Inc. is the holding company for Permanent
Federal Savings Bank. Permanent Federal, founded in 1885, serves
the financial needs of  families and  local  businesses  in  its
primary market areas through its main office located at 101 S.E.
Third Street, Evansville, Indiana and 10 Branch Offices:  six in
Evansville,  and  one  each  in the cities of Newburgh,  Jasper,
Fort Branch, and Oakland City, Indiana. Its deposits are insured
up  to  applicable  limits  by  the  Federal  Deposit  Insurance
Corporation.
    Permanent Bancorp, Inc., at December 31, 1997, had assets of
$420 million and deposits of $237 million.