Exhibit 99



Permanent
Bancorp, Inc., Holding Company for Permanent Federal Savings Bank


                                  NEWS RELEASE


Donald P. Weinzapfel
Chairman of the Board,                          FOR IMMEDIATE RELEASE
                                                ---------------------
President & Chief                                        May 4, 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. ANNOUNCES ANNUAL MEETING DATE

         (May 4, 1998) -- Permanent  Bancorp,  Inc.  (NASDAQ:"PERM"),  parent of
Permanent Federal Savings Bank,  Evansville,  Indiana,  today announced that its
annual meeting of  shareholders  will be held at 4:00 p.m. on Tuesday,  July 28,
1998  at the  corporate  offices  at 101  Southeast  Third  Street,  Evansville,
Indiana.