[AMERIANA BANCORP LETTERHEAD]

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


NEW CASTLE, Ind. (February 10, 2006) - Ameriana Bancorp (NASDAQ/NM: ASBI) today
announced earnings for the quarter and year ended December 31, 2005.

         Net income for the fourth quarter totaled $172,000 or $0.05 per diluted
share, up from $108,000 or $0.03 per diluted share reported for the same period
last year. Net income for 2005 totaled $2,058,000 or $0.65 per diluted share
compared with net income of $1,426,000 or $0.45 per diluted share for 2004.

         Net income for 2005 reflected total recoveries of $3,400,000 in the
Commercial Money Center ("CMC") matter, including a payment of $2,300,000
received during the first quarter in settlement of litigation against one of the
sureties for the lease pools and a payment of $1,100,000 received during the
second quarter in settlement of the CMC bankruptcy. These amounts were recorded
as recoveries to the allowance for loan losses, resulting in an adjustment for
loan losses of $2,852,000 for the year ended December 31, 2005, compared with a
provision for loan losses of $392,000 for 2004. Net income for 2005 also
reflected an increase of $1,132,000 or 8% in other expenses over 2004, primarily
because the Company made a voluntary payment of $1,100,000 in the first quarter
of 2005 to fund a portion of its pension liability. Other expenses for the
fourth quarter of 2005 declined $370,000 or 10% from the year-earlier period.

         Net interest income for the fourth quarter was $2,358,000 compared with
$2,568,000 for the year-earlier period, reflecting continued margin compression
caused by a highly competitive lending and deposit environment and a flattening
yield curve. Net interest income for 2005 was $9,787,000 versus $10,765,000 for

         During 2005, Ameriana experienced solid loan growth, with net loans
increasing 11% for the year. This growth, virtually all of which occurred in the
second half of the year, reflected in large part the addition of two seasoned
commercial lenders during the last half of 2005 and the Company's increased
focus on middle-market business lending.

         Ameriana continued to experience improving credit quality in the fourth
quarter. Non-accrual loans declined $371,000 or 13% to $2,468,000 at December
31, 2005, compared with non-accrual loans at September 30, 2005, and were 57%
below the year-end 2004 level of $5,736,000. These declines primarily reflected
third-quarter actions to foreclose on a commercial real estate loan,
successfully restructure another commercial real estate loan, and partially
charge off a third commercial real estate loan. The Company's higher provision
for loan losses in the fourth quarter versus the same period last year was
attributable primarily to increased loan volume in the second half of the year,
primarily in commercial loans, which carry greater risk than residential


ASBI Reports Year-end Results
Page 2
February 10, 2006

         Commenting on the results, Jerome J. Gassen, President and Chief
Executive Officer, said, "We are pleased to report a profitable conclusion to
2005, with higher earnings for both the fourth quarter and year versus
comparable 2004 periods. There were a number of highlights in the Company's
performance during 2005, including sizable recoveries of past loan losses, a
continuing and dramatic improvement in asset quality and, more recently, our
ability to bring other expenses down based on actions to control costs. Still,
an overall challenging market environment persisted throughout the year, with
continued pressures on interest margins and a further downturn in mortgage loan
originations and related gains on sales of loans following a steeper decline in

         "In response to these challenges, we have undertaken a thorough review
of our business and strategies and have identified what we believe are several
opportunities to enhance our operating performance," Gassen continued. "The
initiatives we have crafted to address these challenges touch on all areas and
levels of our organization. Clearly, we cannot change the fundamental dynamics
of interest rate changes and how they affect our near-term results, but I am
pleased to see progress in growing loans and reducing expenses, which should
improve our long-term performance and extend the progress we have witnessed in
2005. In 2006, we will remain focused on improving the soundness of our
organization, growing core earnings, and expanding customer relationships in the
communities we serve."

         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 branches in the central Indiana area. As its name implies, Ameriana Bank
and Trust SB also offers trust and investment management services. The Bank has
interests in Family Financial Holdings, Inc. and Indiana Title Insurance
Company, and owns Ameriana Insurance Agency, a full-service insurance agency.

         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


ASBI Reports Year-end Results
Page 3
February 10, 2006

                                AMERIANA BANCORP
                    (In thousands, except per share amounts)
THREE MONTHS ENDED YEAR ENDED DECEMBER 31 DECEMBER 31 ---------------------------- --------------------------- 2005 2004 2005 2004 -------------- ------------ ------------ ----------- Interest income $ 5,232 $ 4,691 $ 19,782 $ 18,331 Interest expense 2,874 2,123 9,995 7,566 ----------- ----------- ----------- ----------- Net interest income 2,358 2,568 9,787 10,765 Provision (adjustment) for loan losses 145 117 (2,852) 392 ----------- ----------- ----------- ----------- Net interest income after provision for loan losses 2,213 2,451 12,639 10,373 Other income 1,050 961 4,115 3,961 Other expense 3,202 3,572 14,513 13,381 ----------- ----------- ----------- ----------- Income before income taxes 61 (160) 2,241 953 Income tax (benefit) expense (111) (268) 183 (473) ----------- ----------- ----------- ----------- Net income $ 172 $ 108 $ 2,058 $ 1,426 =========== =========== =========== =========== Earnings per share: Basic $ 0.05 $ 0.03 $ 0.65 $ 0.45 =========== =========== =========== =========== Diluted $ 0.05 $ 0.03 $ 0.65 $ 0.45 =========== =========== =========== =========== Weighted average shares outstanding: Basic 3,170 3,151 3,160 3,149 =========== =========== =========== =========== Diluted 3,179 3,180 3,173 3,181 =========== =========== =========== =========== Dividends declared per share $ 0.16 $ 0.16 $ 0.64 $ 0.64 =========== =========== =========== =========== DEC. 31 DEC. 31 2005 2004 ----------- ----------- Total assets $ 449,369 $ 428,553 Cash and cash equivalents 14,270 17,053 Investment securities held to maturity -- 158,322 Investment securities available for sale 168,686 12,032 Loans, net 218,291 196,344 Deposits 339,351 344,047 Borrowed funds 66,889 40,390 Shareholders' equity 35,657 38,643 Loans accounted for on a non-accrual basis 2,468 5,736 Book value per share 11.23 12.26

The following information was filed by Ameriana Bancorp (ASBI) on Friday, February 10, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Ameriana Bancorp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Ameriana Bancorp.


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis


FREE Financial Statements

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator

Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years


Log in with your credentials


Forgot your details?

Create Account