STOCK INVESTMENT PLAN OF
                               ANB CORPORATION

                             Financial Statements
                          December 31, 1997 and 1996


<PAGE>

                   STOCK INVESTMENT PLAN OF ANB CORPORATION
                              TABLE OF CONTENTS


                                                                          PAGE
------------------------------------------------------------------------------
INDEPENDENT AUDITOR'S REPORT                                                1

FINANCIAL STATEMENTS

  Statement of financial condition                                          2

  Statement of income and changes in plan equity                            3

  Notes to financial statements                                             4

<PAGE>

                         INDEPENDENT AUDITOR'S REPORT



Plan Administrator
Stock Investment Plan of
  ANB Corporation
Muncie, Indiana


We have audited the accompanying statement of financial condition of the Stock
Investment Plan of ANB Corporation as of December 31, 1997 and 1996, and the
related statement of income and changes in plan equity for each of the three
years in the period ended December 31, 1997.  These financial statements are
the responsibility of the plan's management.  Our responsibility is to express
an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing
standards.  Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement.  An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements.  An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation.  We believe that our audits provide a reasonable basis
for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of the Stock Investment Plan of
ANB Corporation at December 31, 1997 and 1996, and the results of its
operations for each of the three years in the period ended December 31, 1997,
in conformity with generally accepted accounting principles.


Geo. S. Olive & Co. LLC


Indianapolis, Indiana
April 7, 1998

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                   STOCK INVESTMENT PLAN OF ANB CORPORATION
                       STATEMENT OF FINANCIAL CONDITION


<TABLE>
<CAPTION>

DECEMBER 31                                                   1997           1996
------------------------------------------------------------------------------------
<S>                                                        <C>            <C>
ASSETS

 Investments, at fair value
   ANB Corporation common stock (cost $716,373 and
    $611,308)                                              $1,447,038     $1,049,180

   Short-term investment funds                                 15,945          5,968
                                                           -------------------------

    Total assets                                           $1,462,983     $1,055,148
                                                           =========================

PLAN EQUITY                                                $1,462,983     $1,055,148
                                                           =========================
</TABLE>


See notes to financial statements.

                                     (2)
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                   STOCK INVESTMENT PLAN OF ANB CORPORATION
                STATEMENT OF INCOME AND CHANGES IN PLAN EQUITY

<TABLE>
<CAPTION>

YEAR ENDED DECEMBER 31                                       1997          1996          1995
------------------------------------------------------------------------------------------------
<S>                                                       <C>           <C>           <C>
ADDITIONS

 Investment income

   Interest                                               $      665    $      482    $      649

   Dividends - ANB Corporation common stock                   34,224        33,336        34,194
                                                          --------------------------------------
                                                              34,889        33,818        34,843

 Realized gains from sale of stock                            18,898        25,929        10,381

 Unrealized appreciation (depreciation) on stock             292,793      (122,431)      245,517

 Employee contributions                                      151,022       144,722       141,726

 Employer contributions                                       30,205        28,944        28,345
                                                          --------------------------------------

   Total additions                                           527,807       110,982       460,812

DEDUCTION - distributions                                    119,972       266,055       110,575
                                                          --------------------------------------

NET INCOME AND CHANGES IN PLAN EQUITY FOR THE YEAR           407,835      (155,073)      350,237

PLAN EQUITY, BEGINNING OF YEAR                             1,055,148     1,210,221       859,984
                                                          --------------------------------------

PLAN EQUITY, END OF YEAR                                  $1,462,983    $1,055,148    $1,210,221
                                                          ======================================
</TABLE>


See notes to financial statements.

                                     (3)
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                   STOCK INVESTMENT PLAN OF ANB CORPORATION

                        NOTES TO FINANCIAL STATEMENTS


-  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying financial statements are prepared on the accrual method of
accounting.

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of plan equity and changes in plan equity.
Actual results could differ from those estimates.

The purpose of the Stock Investment Plan of ANB Corporation (Plan) is to make
available to eligible employees of ANB Corporation (ANB), a multi-bank holding
company, and its subsidiaries a means of acquiring ownership of ANB common
stock.

The investment in ANB common stock is carried at fair value based on market
quotations, while short- term investment funds are carried at cost, which
approximates fair value.


-  PLAN DESCRIPTION

Participation in the Plan is entirely voluntary.  Eligible employees may make
monthly contributions to the Plan of $10 to $200 through payroll deductions.
ANB contributes 20% of employees' contributions to the Plan, which
contributions are taxable income to participants in the year contributed.
Cash dividends and other income are credited to participant accounts for
purchase of additional ANB stock, which income is also taxable to the
participants when credited to their accounts.  Distributions from the Plan are
therefore not taxable income to the participants when funds are distributed,
except for gains/losses from sales of stock included in distributions.

Separate accounts are maintained for participants to which contributions and
earnings thereon are credited.

Purchases of ANB common stock are made at the lowest possible price in full
shares only for each participant with remaining funds accumulating in a
short-term investment fund until full shares may be purchased.  At time of
purchase, participants acquire ownership in their shares, and shares may be
delivered to participants upon their request.

A participant may withdraw from the Plan upon providing written notice
terminating payroll deductions, and stock and/or cash in the Plan for the
participant will be distributed.  Participants immediately vest in their
contributions and ANB contributions.

The Plan may be amended or terminated at any time deemed advisable by ANB's
Board of Directors.

There were 149 and 137 participants in the Plan at December 31, 1997 and 1996,
respectively.

                                     (4)
<PAGE>

STOCK INVESTMENT PLAN OF ANB CORPORATION
NOTES TO FINANCIAL STATEMENTS


-  INVESTMENT IN ANB COMMON STOCK

Investment in ANB common stock was as follows:

<TABLE>
<CAPTION>
                                            1997
                     ---------------------------------------------------------
                     NUMBER
                       OF                           FAIR           UNREALIZED
DECEMBER 31          SHARES         COST            VALUE         APPRECIATION
------------------------------------------------------------------------------
                     <S>          <C>            <C>                <C>
                     55,389       $716,373       $1,447,038         $730,665


                                            1996
                     ---------------------------------------------------------
                     NUMBER
                       OF                           FAIR           UNREALIZED
DECEMBER 31          SHARES         COST            VALUE         APPRECIATION
------------------------------------------------------------------------------

                     52,459       $611,308       $1,049,180         $437,872
</TABLE>

Unrealized appreciation at January 1, 1996 was $560,303.

In December 1995, ANB distributed 38,244 shares of its common stock to the
Plan pursuant to a two-for-one stock split.

Information on ANB stock sold was as follows (cost using the first-in,
first-out method):

<TABLE>
<CAPTION>

YEAR ENDED DECEMBER 31                   1997          1996          1995
---------------------------------------------------------------------------
<S>                                     <C>           <C>           <C>
Proceeds from sales                     $68,623       $73,700       $56,928
Cost                                     49,725        47,771        46,547
                                        -----------------------------------

Gains                                   $18,898       $25,929       $10,381
                                        ===================================
</TABLE>

-  PARTY-IN-INTEREST TRANSACTIONS

Party-in-interest transactions include those with fiduciaries or employees of
the Plan, any person who provides services to the Plan, an employer whose
employees are covered by the Plan, an employee organization whose members are
covered by the Plan, a person who owns 50% or more of such an employer or
employee association, or relatives of such persons.

ANB provides certain administrative services at no cost to the Plan.


-  TAX STATUS

The Plan is not and will not be qualified under Section 401(a) of the Internal
Revenue Code of 1986, as amended (the Code).  The Plan is intended to qualify
as an employee stock purchase plan under Section 423 of the Code.

                                     (5)