Jerome J. Gassen, President and Chief Executive Officer of Ameriana
Bancorp (NASDAQ: ASBI), today announced the signing of a definitive
agreement to sell Ameriana Insurance Agency (“AIA”), a wholly owned
subsidiary, to Pfenninger, Claxton and Estelle Insurance Group of New
Castle, Indiana. The transaction value is $1,950,000 and is expected to
close in the fourth quarter of 2015. Consummation of the transaction is
subject to the satisfaction of various closing conditions, including,
among others, the receipt of all requisite consents and approvals.
Ameriana Bancorp is a bank holding company. Through its wholly owned
subsidiary, Ameriana Bank, 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
Bank owns Ameriana Insurance Agency, a full-service insurance agency,
and Ameriana Financial Services, which offers securities and insurance
products through LPL Financial (Member FINRA/SIPC).
This press release contains statements about the proposed sale of
Ameriana Insurance Agency and the impact on Ameriana Bancorp. These
statements are not historical facts and are considered forward-looking
within the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are preceded by terms such as
"expects," "believes," "anticipates," "intends" and similar expressions.
Forward-looking statements are not guarantees of future performance.
These forward-looking statements include, but are not limited to,
statements relating to the expected timing and benefits of the proposed
sale of Ameriana Insurance Agency. These statements are based upon
current expectations, forecasts and assumptions that are subject to
risks, uncertainties and other factors that could cause actual outcomes
and results to differ materially from those indicated by these
forward-looking statements. These risks, uncertainties and other factors
include, but are not limited to, the satisfaction of various closing
conditions, including, among others, the receipt of all requisite
consents and approvals, and other rights of termination of the parties
set forth in the definitive agreement to sell Ameriana Insurance Agency.
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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