**THIRD      CENTURY BANCORP**

| Contact: | Robert                D. Heuchan, President and CEO |
|----------|-----------------------------------------------------|

|   | Debra                K. Harlow, Chief Financial Officer |
|--------|---------------------------------------------------------|

**THIRD      CENTURY BANCORP RELEASES FIRST QUARTER EARNINGS**

----

----

**Selected      Consolidated Financial Data**

|                                                                                                                                                                                                                                                                                                                             |   | **At                March 31,**   |    |   | **At                December 31,** |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|---------|--------|------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                             |   | **2007**                          |    |   | **2006**                           |   |
| **Selected                Consolidated Financial Condition Data**:                                                                                                                                                                                                                                                               |   | **(In                Thousands)** |    |
| Assets                                                       |   | $                                 | 137,154 |   |                               | $      | 133,503 |   |
| Loans                receivable-net                                                                                                                                                                                                                                                                                              |   |                              | 111,436 |   |                               |   | 111,938 |   |
| Cash                and cash                equivalents                                                                                                                                                                                                                                                                          |   |                              | 12,546  |   |                               |   | 9,492 |   |
| Investment                securities                                                                                                                                                                                                                                                                                             |   |                              | 6,264   |   |                               |   | 5,209 |   |
| Deposits                                                     |   |                              | 92,481  |   |                               |   | 88,568 |   |
| FHLB                advances and other                borrowings                                                                                                                                                                                                                                                                 |   |                              | 24,600  |   |                               |   | 24,600 |   |
| Stockholders’                equity-net                                                                                                                                                                                                                                                                                    |   |                              | 19,151  |   |                               |   | 19,426 |   |
|                                                                                                                                                                                                                                                                                                                             |   |                              |    |   |                               |   |   |   |

|                                                                                                                                                                                                                                                                                                                                                                                                |   | **For                the Three Months Ended March 31,**      |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                |   | **2007**                                                     |   |   | **2006** |   |
|                                                                                                                                                                                                                                                                                                                                                                                                |   | **(Dollars                In Thousands, Except Share Data)** |   |
| **Selected                Consolidated Earnings Data**:                                                                                                                                                                                                                                                                                                                                             |   |                                                         |   |
| Total                interest                income                                                         |   | $                                                            | 2,054  |   |   | $ | 1,835 |   |
| Total                interest expense                                                                                                                                                                                                                                                                                                                                                               |   |                                                         | 938    |   |   |   | 640 |   |
| Net                interest income                                                                                                                                                                                                                                                                                                                                                                  |   |                                                         | 1,116  |   |   |   | 1,195 |   |
| Provision                of losses on loans                                                                                                                                                                                                                                                                                                                                                         |   |                                                         | 15     |   |   |   | 15 |   |
| Net                interest income after provision for losses on                loans                                                                                                                                                                                                                                                                                                               |   |                                                         | 1,101  |   |   |   | 1,180 |   |
| Total                other income                                                                                                                                                                                                                                                                                                                                                                   |   |                                                         | 192    |   |   |   | 220 |   |
| General,                administrative and other expenses                                                                                                                                                                                                                                                                                                                                           |   |                                                         | 1,213  |   |   |   | 1,167 |   |
| Income                tax expense                                                                                                                                                                                                                                                                                                                                                                   |   |                                                         | 40     |   |   |   | 90 |   |
| Net                income                                                                                                                                                                                                                                                                                                                                                                           |   |                                                         | 40     |   |   |   | 143 |   |
| Earnings                per share – basic                                                                                                                                                                                                                                                                                                                                                     |   | $                                                            | 0.03   |   |   | $ | 0.10 |   |
| Earnings                per share - diluted                                                                                                                                                                                                                                                                                                                                                         |   | $                                                            | 0.03   |   |   | $ | 0.10 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                |   |                                                         |   |   |   |   |   |   |
| **Selected                Financial Ratios and Other Data**:                                                                                                                                                                                                                                                                                                                                        |   |                                                         |   |   |   |   |   |   |
| Interest                rate spread during period                                                                                                                                                                                                                                                                                                                                                   |   |                                                         | 2.73   | % |   |   | 3.25 | % |
| Net                yield on interest-earning assets                                                                                                                                                                                                                                                                                                                                                 |   |                                                         | 3.47   |   |   |   | 3.89 |   |
| Return                on average assets                                                                                                                                                                                                                                                                                                                                                             |   |                                                         | 0.12   |   |   |   | 0.45 |   |
| Return                on average equity                                                                                                                                                                                                                                                                                                                                                             |   |                                                         | 0.81   |   |   |   | 2.96 |   |
| Equity                to assets                                                                                                                                                                                                                                                                                                                                                                     |   |                                                         | 13.96  |   |   |   | 15.01 |   |
| Average                interest-earning assets to average interest-bearing                liabilities                                                                                                                                                                                                                                                                                               |   |                                                         | 125.34 |   |   |   | 130.74 |   |
| Non-performing                assets to total assets                                                                                                                                                                                                                                                                                                                                                |   |                                                         | 0.19   |   |   |   | 0.19 |   |
| Allowance                for loan losses to total loans outstanding                                                                                                                                                                                                                                                                                                                                 |   |                                                         | 0.80   |   |   |   | 0.86 |   |
| Net                charge-offs to average total loans outstanding                                                                                                                                                                                                                                                                                                                                   |   |                                                         | 0.05   |   |   |   | 0.00 |   |
| General,                administrative and other expense to average assets                                                                                                                                                                                                                                                                                                                          |   |                                                         | 0.91   |   |   |   | 0.92 |   |
| Effective                income tax rate                                                                                                                                                                                                                                                                                                                                                            |   |                                                         | 50.00  |   |   |   | 38.63 |   |
| Dividend                payout ratio 1                                                                                                                                                                                                                                                                                                                                                              |   |                                                         | n/a    |   |   |   | 2,098.44 |   |
| Dividend                payout ratio 2                                                                                                                                                                                                                                                                                                                                                              |   |                                                         | 133.33 |   |   |   | 41.15 |   |
| Number                of full service offices                                                                                                                                                                                                                                                                                                                                                       |   |                                                         | 6      |   |   |   | 5 |   |

----

 1      The calculation of      this ratio includes a $2.00 per share return of capital paid May 8,      2006.

 2      The calculation of      this ratio does not include the return of capital to      shareholders.