SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-Q


                                QUARTERLY REPORT


                       Pursuant to Section 13 or 15 (d) of
                       The Securities Exchange Act of 1934


For the Quarter Ended:
---------------------

     September 30, 2000                    Commission File Number  0-18392
                                                                   -------


                                Ameriana Bancorp



     Indiana                                             35-1782688
-------------------------------              -------------------------------
(State or other jurisdiction of              (I.R.S. employer identification
incorporation or organization)                number)


2118 Bundy Avenue, New Castle, Indiana                       47362-1048
--------------------------------------                       ----------
(Address of principal executive offices)                     (Zip Code)


Registrant's telephone number, include area code  (765) 529-2230
                                                  --------------


Securities registered pursuant to Section 12(g) of Act:


Common Stock, par value $1.00 per share
---------------------------------------
             (Title of Class)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed  by  Section  13 or 15 (d) of the  Securities  Exchange  Act of 1934
during the preceding 12 months (or for such shorter  period that the  registrant
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days.

                                            YES  XX     NO
                                                 --        ---



As of November 6, 2000,  there were issued and outstanding  3,146,616  shares of
the registrant's common stock.




                                  1 of 18 Pages


<PAGE>





AMERIANA BANCORP AND SUBSIDIARIES



                                    CONTENTS


PART I  -  FINANCIAL INFORMATION                                      Page No.
                                                                      -------

     ITEM 1 - Financial statements

              Consolidated Condensed Statements of Condition
              as of September 30, 2000, December 31, 1999 and
              September 30, 1999 . . . . . . . . . . . . . . . . . . . . . 3

              Consolidated Condensed Statements of Income for
              the Three Months and Nine Months Ended
              September 30, 2000 and 1999. . . . . . . . . . . . . . . . . 4

              Consolidated  Condensed  Statements  of Cash  Flows
              for the  Nine Months Ended September 30, 2000 and 1999 . . . 5

              Notes to Consolidated Condensed Financial
              Statements . . . . . . . . . . . . . . . . . . . . . . . . . 6


     ITEM 2 - Management's Discussion and Analysis of
              Financial Condition and Results of
              Operations . . . . . . . . . . . . . . . . . . . . . . . . . 7

     ITEM 3 - Quantitative and Qualitative Disclosure
                           About Interest Rate Risk. . . . . . . . . . . .11


PART II  -  OTHER INFORMATION. . . . . . . . . . . . . . . . . . . . . . .14


SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16


EDGAR  -  Financial Data Schedule. . . . . . . . . . . . . . . . . . . . .17

                                                                               2
<PAGE>

PART I  -  FINANCIAL INFORMATION
              Item 1. Financial Statements

                        AMERIANA BANCORP AND SUBSIDIARIES
           CONSOLIDATED CONDENSED STATEMENTS OF CONDITION - Unaudited

<TABLE>
<CAPTION>
                                                         September 30, 2000  December 31, 1999  September 30, 1999
                                                         ------------------  -----------------  ------------------
<S>                                                        <C>              <C>                 <C>
Assets

  Cash on hand and in other institutions                   $   8,610,098    $  14,636,884       $   9,819,487
  Interest-bearing demand deposits                             4,144,464        5,295,715           4,331,420
  Interest-bearing time deposits                                      --        1,499,000           4,686,000
  Investment securities held to maturity  (fair
     value of  $83,011,000, $81,481,000
     and $83,771,000, respectively)                           87,858,848       87,735,008          87,699,343
  Mortgage-backed securities held to maturity (fair
     value of $11,847,000, $14,787,000
     and $15,737,000, respectively)                           11,991,349       14,970,002          15,856,962
  Mortgage loans held for sale                                   590,520          207,400             194,016
  Loans receivable                                           385,581,303      326,804,739         304,066,951
  Allowance for loan losses                                   (1,399,989)      (1,534,278)         (1,339,109)
                                                            ------------     ------------        ------------
      Net loans receivable                                   384,181,314      325,270,461         302,727,842
  Real estate owned                                               26,967              100              37,949
  Premises and equipment                                       7,340,178        7,117,271           6,220,334
  Stock in Federal Home Loan Bank                              6,052,700        4,341,300           4,152,200
  Mortgage servicing rights                                      852,065          910,273             927,837
  Investments in unconsolidated affiliates                     1,065,469        1,179,244           1,231,727
  Intangible assets                                            1,715,259        1,852,360           1,900,085
  Cash surrender value of life insurance                      16,902,479       16,117,534          15,938,571
  Other assets                                                 4,683,478        5,216,868           4,199,786
                                                            ------------     ------------        ------------
          Total assets                                     $ 536,015,188    $ 486,349,420       $ 459,923,559
                                                            ============     ============        ============
Liabilities and Shareholders' Equity

Liabilities:
  Deposits:
         Noninterest-bearing                               $  17,056,929    $  16,308,154       $  14,854,133
         Interest-bearing                                    353,895,138      339,450,706         346,653,356
                                                            ------------     ------------        ------------
            Total deposits                                   370,952,067      355,758,860         361,507,489
  Advances from Federal Home Loan Bank                       111,717,222       82,510,982          45,314,666
  Notes payable                                                2,420,456               --                  --
  Drafts payable                                               3,407,188        3,901,316           3,099,641
  Advances by borrowers for taxes and insurance                1,174,481          823,111             949,244
  Other liabilities                                            4,918,902        3,326,611           5,245,630
                                                            ------------     ------------        ------------
          Total liabilities                                  494,590,316      446,320,880         416,116,670

Shareholders' equity:
  Preferred stock (5,000,000 shares authorized;
      none issued)                                                    --               --                  --
  Common stock ($1.OO par value; authorized
       15,000,000 shares; issued shares:
       3,146,616; 3,145,791 and 3,389,876, respectively)       3,146,616        3,145,791           3,345,897
  Additional paid-in capital                                     499,532          492,227           4,199,667
  Retained earnings-substantially restricted                  37,778,724       36,390,522          36,261,325
                                                            ------------     ------------        ------------
          Total shareholders' equity                          41,424,872       40,028,540          43,806,889
                                                            ------------     ------------        ------------
          Total liabilities and shareholders' equity       $ 536,015,188    $ 486,349,420       $ 459,923,559
                                                            ============     ============        ============
</TABLE>

See accompanying notes.


                                                                               3
<PAGE>
                          AMERIANA BANCORP AND SUBSIDIARIES
               CONSOLIDATED CONDENSED STATEMENTS OF INCOME - Unaudited

<TABLE>
<CAPTION>
                                                              Three Months Ended               Nine Months Ended
                                                                   September 30,                  September 30,
                                                           ---------------------------     ---------------------------
                                                               2000            1999           2000           1999
                                                           ------------   ------------     -----------    ------------
<S>                                                       <C>             <C>             <C>             <C>
Interest Income:
   Interest on loans                                      $  7,664,593    $  5,446,383    $ 21,512,658    $ 15,690,115
   Interest on mortgage-backed securities                      222,977         255,256         691,239         841,037
   Interest on investment securities                         1,514,351       1,419,246       4,540,068       3,598,290
   Other interest and dividend income                          176,804         221,911         488,661         982,379
                                                          ------------    ------------    ------------    ------------
      Total interest income                                  9,578,725       7,342,796      27,232,626      21,111,821

Interest Expense:
   Interest on deposits                                      4,551,443       3,832,101      12,835,130      10,973,583
   Interest on FHLB advances and other loans                 2,013,859         423,875       5,105,271         918,602
                                                          ------------    ------------    ------------    ------------
      Total interest expense                                 6,565,302       4,255,976      17,940,401      11,892,185
                                                          ------------    ------------    ------------    ------------
Net interest income                                          3,013,423       3,086,820       9,292,225       9,219,636

Provision for Loan Losses                                      119,001          30,000         298,001          97,500
                                                          ------------    ------------    ------------    ------------
Net interest income after provision for loan losses          2,894,422       3,056,820       8,994,224       9,122,136

Other Income:
   Net loan servicing fees                                      66,485          68,635         223,073         187,676
   Other fees and service charges                              317,820         267,813         892,522         725,970
   Brokerage and insurance commissions                         254,478         298,328         843,887         958,008
   Net loss on investments in unconsolidated affiliates        (39,955)        (11,093)       (113,775)       (157,891)
   Gains on sales of loans and servicing rights                 27,714          47,046          61,939         363,740
   Increase in cash surrender value of life insurance          186,942         175,119         784,945         254,764
   Other                                                        44,003          40,286         119,554         105,230
                                                          ------------    ------------    ------------    ------------
      Total other income                                       857,487         886,134       2,812,145       2,437,497

Other Expense:
   Salaries and employee benefits                            1,614,628       1,500,248       4,950,416       4,440,351
   Net occupancy expense                                       393,384         352,846       1,123,756       1,055,816
   Federal insurance premium                                    18,282          44,467          55,930         136,253
   Data processing expense                                      65,282          57,843         207,920         201,054
   Printing and office supplies                                 64,309          60,048         226,693         232,250
   Amortization of intangible assets                            45,700          47,725         137,101         142,685
   Other                                                       453,010         357,475       1,390,375       1,356,515
                                                          ------------    ------------    ------------    ------------
      Total other expense                                    2,654,595       2,420,652       8,092,191       7,564,924
                                                          ------------    ------------    ------------    ------------
Income before income taxes                                   1,097,314       1,522,302       3,714,178       3,994,709

Income taxes                                                   233,956         449,599         909,999       1,263,750
                                                          ------------    ------------    ------------    ------------

Net Income                                                $    863,358    $  1,072,703    $  2,804,179    $  2,730,959
                                                          ============    ============    ============    ============

Basic Earnings Per Share                                  $       0.27    $       0.32    $       0.89    $       0.80
                                                          ============    ============    ============    ============
Diluted Earnings Per Share                                $       0.27    $       0.32    $       0.89    $       0.79
                                                          ============    ============    ============    ============
Dividends Declared Per Share                              $       0.15    $       0.15    $       0.45    $       0.45
                                                          ============    ============    ============    ============
</TABLE>

See accompanying notes.

                                                                               4
<PAGE>
                        AMERIANA BANCORP AND SUBSIDIARIES
           CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - Unaudited

<TABLE>
<CAPTION>
                                                                         Nine Months Ended September 30,
                                                                         -------------------------------
                                                                              2000             1999
                                                                         ------------      -------------
<S>                                                                          <C>              <C>
OPERATING ACTIVITIES
Net income                                                              $  2,804,179     $  2,730,959
Adjustments to reconcile net income to net
  cash provided by operating activities:
    Provisions for losses on loans and real estate owned                     298,001          119,100
    Depreciation and amortization                                            371,131          438,505
    Equity in loss of limited partnership                                    113,775          192,728
    Mortgage servicing rights amortization                                    81,341          165,788
    Goodwill amortization                                                    137,101          157,379
    Deferred income taxes                                                         --           (2,615)
    Losses (gains) on sales of real estate owned                              12,805             (143)
    Increase in cash surrender value of life insurance                      (784,945)        (254,764)
    Mortgage loans originated for sale                                    (6,348,654)     (22,114,492)
    Proceeds from sales of Mortgage loans                                  6,004,340       26,382,533
    Gains on sales of loans and servicing rights                             (61,939)        (297,478)
    Decrease in other assets                                                 533,390          129,601
    Decrease in drafts payable                                              (494,128)      (1,254,151)
    Increase in other liabilities                                          1,943,507        1,299,110
                                                                       -------------     ------------
       Net cash provided by operating activities                           4,609,904        7,692,060

INVESTING ACTIVITIES
  Net change in interest-bearing time deposits                             1,499,000       (1,199,000)
  Purchase of investment securities held to maturity                              --      (43,057,489)
  Proceeds from calls of securities held to maturity                              --        6,992,969
  Principal collected on mortgage-backed securities held to maturity       2,941,319        4,286,624
  Net change in loans                                                    (59,240,589)     (41,109,307)
  Proceeds from sale of real estate owned                                    156,380           93,951
  Net purchases of premises and equipment                                   (679,537)        (528,894)
  Premiums paid on life insurance                                                 --      (15,461,000)
  Other investing activities                                              (1,876,724)        (542,337)
                                                                       -------------     ------------
       Net cash used by investing activities                             (57,200,151)     (90,524,483)

FINANCING ACTIVITIES
  Net change in demand and passbook deposits                                (153,729)       4,961,936
  Net change in certificates of deposit                                   15,346,936       22,556,250
  Advances from Federal Home Loan Bank                                   219,400,000       37,400,000
  Repayment of Federal Home Loan Bank advances                          (190,193,760)      (9,186,033)
  Increase in notes payable                                                2,420,456               --
  Proceeds from exercise of stock options                                      8,131           96,396
  Purchase of common stock                                                        --       (2,836,632)
  Cash dividends paid                                                     (1,415,824)      (1,559,824)
                                                                       -------------     ------------
       Net cash provided by financing activities                          45,412,210       51,432,093
                                                                       -------------     ------------
Decrease in cash and cash equivalents                                     (7,178,037)     (31,400,330)

Cash and cash equivalents at beginning of period                          19,932,599       45,551,237
                                                                       -------------     ------------
Cash and cash equivalents at end of period                             $  12,754,562     $ 14,150,907
                                                                       =============     ============
Supplemental information:
  Interest paid                                                        $  15,778,125     $ 11,959,544
  Income taxes paid                                                          841,000        1,440,000
</TABLE>

See accompanying notes.

                                                                               5
<PAGE>

AMERIANA BANCORP AND SUBSIDIARIES


NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
----------------------------------------------------

NOTE A - - BASIS OF PRESENTATION

The unaudited  interim  consolidated  condensed  financial  statements have been
prepared in accordance with the instructions to Form 10-Q and, therefore, do not
include  all  information  and  disclosures   required  by  generally   accepted
accounting  principles  for  complete  financial  statements.  In the opinion of
management,  the financial statements reflect all adjustments (comprised only of
normal  recurring  adjustments  and  accruals)  necessary to present  fairly the
Company's financial position as of September 30, 2000 and December 31, 1999, and
the  results of  operations  for the three  month and nine month  periods  ended
September  30, 2000 and 1999 and changes in cash flows for the nine months ended
September 30, 2000 and 1999. A summary of the Company's  significant  accounting
policies is set forth in Note 1 of Notes to Consolidated Financial Statements in
the Company's annual report on Form 10-K for the year ended December 31, 1999.

NOTE B - - SHAREHOLDERS' EQUITY

On August 28, 2000, the Board of Directors declared a quarterly cash dividend of
$.15 per share.  This dividend,  totaling  $471,992,  was accrued for payment to
shareholders of record on September 15, 2000, and was paid on October 6, 2000.

During the  quarter  ended  March 31,  2000,  825 new shares  were  issued  from
exercise of stock options and total equity increased $8,131 due to cash proceeds
and tax benefits of the stock option  exercises.  No exercises of stock  options
were completed in the second or third quarters of 2000.

Earnings per share were computed as follows:
<TABLE>
<CAPTION>

                                                Three Months Ended September 30,
                                       -------------------------------------------------
                                             2000                             1999
-------------------------------------------------------------------------------------------------------------------
                                             Weighted    Per                  Weighted     Per
                                             Average     Share                Average      Share
                                   Income    Shares      Amount     Income    Shares       Amount
-------------------------------------------------------------------------------------------------------------------
<S>                                <C>       <C>         <C>      <C>         <C>          <C>
Basic Earnings per Share:
  Income available to
    Common shareholders            $863,358  3,146,616   $.27     $1,072,703  3,371,287    $ .32
Effect of dilutive stock options         --         55                    --     31,345
-------------------------------------------------------------------------------------------------------------------
Diluted Earnings Per Share:
  Income available to
    common shareholders and
    assumed conversions            $863,358  3,146,671   $.27     $1,072,703  3,402,632    $ .32
-------------------------------------------------------------------------------------------------------------------

<CAPTION>

-------------------------------------------------------------------------------------------------------------------
                                                Nine Months Ended September 30,
                                        -------------------------------------------------
                                             2000                             1999
-------------------------------------------------------------------------------------------------------------------
                                             Weighted    Per                  Weighted     Per
                                             Average     Share                Average      Share
                                 Income      Shares      Amount     Income    Shares       Amount
-------------------------------------------------------------------------------------------------------------------
<S>                              <C>         <C>         <C>      <C>         <C>          <C>
Basic Earnings per Share:
  Income available to
    Common shareholders          $2,804,179  3,146,396   $.89     $2,730,959  3,426,700    $ .80
Effect of dilutive stock options         --        108                    --     30,341
-------------------------------------------------------------------------------------------------------------------
Diluted Earnings Per Share:
  Income available to
    common shareholders and
    assumed conversions          $2,804,179  3,146,504   $.89     $2,730,959  3,457,041    $ .79
-------------------------------------------------------------------------------------------------------------------

</TABLE>

                                                                               6
<PAGE>

AMERIANA BANCORP AND SUBSIDIARIES


ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
               AND RESULTS OF OPERATIONS


General
-------

This  Quarterly  Report on Form 10-Q  ("Form Q") may  contain  statements  which
constitute  forward  looking  statements  within  the  meaning  of  the  Private
Securities Litigation Reform Act of 1995. These statements appear in a number of
places in this Form 10-Q and include  statements  regarding the intent,  belief,
outlook,  estimate or  expectations  of the Company  primarily  with  respect to
future events and future  financial  performance.  Readers of this Form 10-Q are
cautioned that any such forward looking  statements are not guarantees of future
events or  performance  and  involve  risks and  uncertainties,  and that actual
results may differ materially from those in the forward looking  statements as a
result of various factors. The accompanying  information  contained in this Form
10-Q  identifies  important  factors  that could cause such  differences.  These
factors include  changes in interest rates;  loss of deposits and loan demand to
other financial institutions;  substantial changes in financial markets; changes
in real estate values and the real estate market or regulatory changes.

The largest  components  of the Company's  total revenue and total  expenses are
interest income and interest expense, respectively.  Consequently, the Company's
earnings are primarily dependent on its net interest income, which is determined
by (i) the  difference  between  rates of  interest  earned on  interest-earning
assets and rates paid on interest-bearing  liabilities ("interest rate spread"),
and (ii) the relative amounts of  interest-earning  assets and  interest-bearing
liabilities.  Levels of other income and operating  expenses also  significantly
affect net income.

Management  believes that interest rate risk, i. e., the  sensitivity  of income
and  net  asset  values  to  changes  in  interest  rates,  is one  of the  most
significant  determinants of the Company's  ability to generate future earnings.
Accordingly,  the Company has implemented a long-range plan intended to minimize
the effect of changes in interest rates on  operations.  The asset and liability
management  policies of the Company are  designed  to  stabilize  long-term  net
interest income by managing the repricing  terms,  rates and relative amounts of
interest-earning assets and interest-bearing liabilities.


RESULTS OF OPERATIONS
---------------------

During the first nine months of 2000, the loan volume consisted of variable rate
consumer mortgages,  consumer loans and commercial real estate loans. Fixed rate
consumer  mortgages,  most of  which  are  sold  to the  secondary  market  with
servicing retained,  started to increase in the latter portion of September 2000
as the rates  decreased  below 8% for  fifteen  year loans and 8.25% for 30 year
loans. The loans  outstanding  increased  $58,776,564 and 17.98% to $385,581,303
during the nine months from  $326,804,739  at December  31,  1999.  The mortgage
loans held for sale  increased to $590,520 at September 30, 2000,  from $207,400
at December 31, 1999,  and consists of loans that had been  committed to be sold
to the secondary market and had not been delivered as of the end of the period.

Sales of loans to the  secondary  market  significantly  decreased to $6,004,340
during the first nine  months of 2000  compared to  $26,382,533  during the same
period in 1999.  This had a  significant  effect on the gain on sale of loans in
2000.  See  comments  on other  income for detail of gains on loans  sold.  This
reduction  is due to consumer  mortgages  being made as variable  rate loans and
being  retained  in  portfolio  verses in 1999 more of these  loans were made as
fixed rate loans and sold to the secondary market.



                                                                               7
<PAGE>
The net interest spread, difference between yield on interest-earning assets and
cost on  interest-bearing  liabilities,  has  decreased  .69%  during  the third
quarter  of 2000  compared  to the same  period in 1999 and has  decreased  .46%
during the first nine  months of 2000  compared to 1999.  Rates in general  have
increased and using the Prime rate as an indicator, it averaged 7.87% during the
first nine months of 1999 and increased  four times during the last twelve month
period ended  September 30, 2000.  Prime averaged 9.50% during the third quarter
of 2000 and 9.15% during the first nine months of 2000.  The net yield  decrease
is due to the interest yield increase of .41% on interest-earning average assets
for the third  quarter being more than offset by the 1.10% rate increase in cost
on  interest-bearing  average  liabilities for the third quarter.  The fact that
yields on average assets did not increase as fast as costs of liabilities during
2000 is the result of making  variable rate consumer  mortgages,  at lower rates
than fixed rate consumer  mortgages during 1999 and retaining them in portfolio.
The larger increase of the cost of liabilities has resulted from increased rates
on the Federal Home Loan Bank ("FHLB") borrowings and deposit costs during 2000.
The FHLB  borrowings and  certificates  of deposits were extended to longer-term
borrowings to more closely match asset maturities in order to lower the interest
rate risk and resulted in increased  costs during 2000 and the third  quarter of
2000. The yield on average  earning assets  increased .35% during the first nine
months of 2000 while the yield on average interest bearing liabilities increased
 .81%.

The following table summarizes the Company's  average  interest-earning  assets,
average  interest-bearing  liabilities and net interest-earning  assets with the
accompanying  average  rates for the third quarter and first nine months of 2000
and 1999:
<TABLE>
<CAPTION>

                                              Three Months Ended    Nine Months Ended
                                              ------------------    -----------------
                                                 September 30,        September 30,
                                              ------------------    -----------------
                                                2000      1999       2000      1999
                                                ----      ----       ----      ----
                                                      (Dollars in Thousands)
<S>                                          <C>       <C>         <C>       <C>
  Average interest-earning assets            $493,805  $398,316    $475,423  $386,451
  Average interest-bearing liabilities        461,803   369,851     445,077   347,607
                                              -------   -------     -------   -------

             Net interest-earning assets     $ 32,002  $ 28,465    $ 30,346  $ 38,844
                                              -------   -------     -------   -------

  Average yield on:
     Average interest-earning assets             7.72%     7.31%       7.65%     7.30%
     Average interest-bearing liabilities        5.66      4.56        5.38      4.57
                                                 ----      ----        ----      ----

                Net interest spread              2.06%     2.75%       2.27%     2.73%
                                                 ----      ----        ----      ----
</TABLE>
Net interest  income for the third quarter 2000 was  $3,013,423  and was $73,397
and 2.38% less than  $3,086,820  during the third quarter of 1999. This decrease
is due to higher interest  expense more than offsetting  higher interest income.
The $2,236,000 increase in interest income on average interest-earning assets is
a combination of an increase of $1,884,000 because of the increase in the volume
mix of average  outstanding  interest-bearing  assets plus  $352,000  because of
increased rates on average  interest-earning  assets. The increase of $2,309,000
in cost of  interest-bearing  liabilities  is a  combination  of an  increase of
$1,510,000  from higher  average  balances  and  $799,000  from higher  rates on
average  interest-bearing  liabilities.  The net interest margin ratio, which is
net interest income divided by average  earning  assets,  decreased to 2.43% for
the third quarter 2000 compared to 2.75% for the third quarter of 1999.

Net  interest  income for the first nine months of 2000 was  $9,292,225  and was
$72,589 and .79% more than $9,219,636 during the first nine months of 1999. This
increase  is due to higher  interest  expense  being more than  offset by higher
interest  income.  The  $6,121,000   increase  in  interest  income  on  average
interest-earning assets is a combination of an increase of $5,221,000 because of
the increase in the volume mix of average  outstanding  interest-bearing  assets
plus $900,000 because of increased rates on average interest-earning assets. The
increase of $6,048,000 in cost of interest-bearing  liabilities is a combination
of an increase of $4,540,000  from higher average  balances and $1,508,000  from
higher rates on average  interest-bearing  liabilities.  The net interest margin
ratio, which is net interest income divided by average earning assets, decreased
to 2.61% for the first nine months of 2000  compared to 3.19% for the first nine
months of 1999.


                                                                               8
<PAGE>
The following table sets forth the details of the rate and volume change for the
third  quarter and first nine months of 2000  compared to the third  quarter and
first nine months of 1999, respectively:
<TABLE>
<CAPTION>

                                               Three Months Ended September 30,  Nine Months Ended September 30,
                                                          2000 vs. 1999                  2000 vs. 1999
                                                          -------------                  -------------
                                                       Increase (Decrease)            Increase (Decrease)
                                                         Due to Change in              Due to Change in
                                                         ----------------              ----------------
                                                                     (Dollars in Thousands)
                                                                      ---------------------
                                                  Volume     Rate    Net Change    Volume     Rate    Net Change
                                                  ------     ----    ----------    ------     ----    ----------
<S>                                               <C>       <C>        <C>         <C>       <C>         <C>
Interest Income:
   Loans and mortgage-backed securities           $1,849    $ 337      $2,186      $5,225    $  448      $5,673
   Other interest-earning assets                      35       15          50          (4)      452         448
                                                   -----     ----       -----       ------    -----       -----
   Total interest-earning assets                   1,884      352       2,236       5,221       900       6,121
                                                   -----     ----       -----       ------    -----       -----
Interest Expense:
   Deposits                                          161      558         719         742     1,119       1,861
   FHLB advance and other loans                    1,349      241       1,590       3,798       389       4,187
                                                   -----     ----       -----       -----     -----       -----
   Total interest-bearing liabilities              1,510      799       2,309       4,540     1,508       6,048
                                                   -----     ----       -----       -----     -----       -----
Change in net interest income                     $  374    $(447)     $  (73)     $  681    $ (608)     $   73
                                                   -----     ----       ------      -----     -----       -----
</TABLE>

The  provision  for loan losses was  $119,001  during the third  quarter of 2000
compared  to $30,000  during the same  period in 1999.  The  provision  for loan
losses for the nine months ended  September 30, 2000,  was $298,001  compared to
$97,500 for the first nine months of 1999.  Net  charge-offs  were  $432,000 and
$43,000 for 2000 and 1999 first nine months,  respectively.  A large  portion of
the net charge-offs during 2000 included a loan for $172,000  charged-off during
the first  quarter and it had been  identified  and provided for during the last
quarter of 1999.  Another large portion of the 2000 charge-offs  included a loan
charged-off  during  the  second  quarter  for  $205,000,  which may be at least
partially recovered,  but the recovery may take years to complete. The following
table summarizes the Company's non-performing assets at:
<TABLE>
<CAPTION>

                                          September 30,    December 31,     September 30,
                                             2000             1999             1999
                                             ----             ----             -----
                                                  (Dollars in Thousands)
<S>                                        <C>              <C>              <C>
     Loans:
       Non-accrual                         $  597           $1,171           $  953
       Over 90 days delinquent                 37               25               35
     Trouble debt restructured                198              751              894
     Real estate owned (at market value)       27                0               38
                                             ----            -----            -----

               Total                       $  859           $1,947           $1,920
                                            -----            -----            -----
</TABLE>

Management  believes  the  allowance  for  loan  losses  is  adequate  and  that
sufficient  provision  has  been  provided  to  absorb  any  losses,  which  may
ultimately  be  incurred  on  non-performing  loans  and  the  remainder  of the
portfolio.  The allowance for loan losses as a percentage of loans at the end of
the period was .36%, .47% and .44% at September 30, 2000,  December 31, 1999 and
September 30, 1999, respectively.

Total other income for the third quarter of 2000 decreased  $28,647 and 3.23% to
$857,487 from  $886,134 in the same period  during 1999.  Total other income for
the nine  months  ended  September  30,  2000,  was up  $374,648  and  15.37% to
$2,812,145  from  $2,437,497  during  the first  nine  months of 1999.  As noted
earlier,  sales of loans to the secondary  market reduced  dramatically  in 2000
compared  to 1999 and gains on sales of loans and  servicing  rights  during the
third  quarter of 2000  decreased  $19,332  and 41.09% to $27,714  from  $47,046
during the same  period in 1999.  Gains on sales of loans and  servicing  rights
decreased  $301,801 and 82.97% during the nine months ended  September 30, 2000,
to $61,939 from $363,740 during the same period in 1999. Brokerage and insurance
commissions  decreased $114,121 and 11.91% for the nine months due to lower loan
demand.  Gains  for the  nine  months  were  noted in net  loan  servicing  fees
increasing $35,397 and 18.86%,  other fees and servicing increasing $166,552 and
22.94% and net loss on investment in unconsolidated affiliate increasing because
of the loss being  lower by $44,116  and 27.94%.  Cash  surrender  value of life
insurance had a significant increase to $784,945 in 2000 versus only $254,764 in
1999 for an increase of $530,181.  The banks invested in life insurance products
during the third quarter of 1999 and this investment partially


                                                                               9
<PAGE>

accounted  for the large  increase  in  insurance  income.  This  category  also
included one-time adjustments to certain cash surrender values on life insurance
policies carried on retired  executives in the amount of approximately  $197,000
that was booked in first quarter 2000.

Total other  expense  increased  $233,943 and 9.66% during the third  quarter of
2000 to $2,654,595 from $2,420,652  during the same period in 1999 and increased
$527,267  and 6.97% to  $8,092,191  during  the first  nine  months of 2000 from
$7,564,924  during the first nine months of 1999.  The majority of these expense
increases  are  due to  operating  one  more  branch  in 2000  than in 1999  and
operating a trust  department  in 2000 and not in 1999.  The  efficiency  ratio,
which is other expense (not including  amortization of goodwill)  divided by net
interest  income  before  the  provision  for loan  losses  plus  other  income,
decreased  to 67.40% for the third  quarter of 2000  compared  to 59.73% for the
third  quarter of 1999 and decreased to 65.72% for the first nine months of 2000
compared to 63.67% for the first nine months of 1999.

The tax rate during the third  quarter of 2000 was 21.32% and was 24.50% for the
first nine months of 2000  compared to 29.53% and 31.64% for the same periods in
1999. These tax rate decreases are mostly due to the nontaxable  income from the
life insurance  policies in 2000 compared to 1999. The 2000 taxes also include a
reduction  of state  taxes due to a ruling  of  non-taxability  on  out-of-state
income which was quantified with the completion of the 1999 tax returns.


FINANCIAL CONDITION
-------------------

The Company's  principal  sources of funds are cash generated  from  operations,
deposits,  loan principal repayments and advances from the FHLB. As of September
30, 2000,  the  Company's  cash and  interest-bearing  demand  deposits  totaled
$12,754,562 and 2.38% of total assets.  This compares with $19,932,599 and 4.10%
of total  assets at December  31,  1999.  The  Company's  banking  subsidiaries,
Ameriana  Bank and Trust of Indiana  ("ABI") and  Ameriana  Bank of Ohio ("ABO")
have  regulatory  liquidity  ratios of 21.45%  and  7.69%,  respectively,  which
exceeds the 4.0% liquidity base set by the Office of Thrift Supervision ("OTS").

The  regulatory  minimum net worth  requirement  of 8% for ABI and ABO under the
most stringent of the three capital  regulations  (total  risk-based  capital to
risk-weighted  assets) at September 30, 2000, was  $19,123,000  and  $5,040,000,
respectively.  At  September  30,  2000,  ABI had total  risk-based  capital  of
$33,162,000 and a 13.87% ratio and ABO had risk-based  capital of $8,765,000 and
a 13.91% ratio.

At September 30, 2000, the Company's  commitments  for loans in process  totaled
$19,974,000,  with 96% being for real estate secured loans.  Management believes
the  Company's  liquidity  and other sources of funds will be sufficient to fund
all outstanding commitments and other cash needs.


                                                                              10
<PAGE>


ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT INTEREST RATE RISK


Interest Rate Risk

ABI and ABO  are  subject  to  interest  rate  risk  to the  degree  that  their
interest-bearing liabilities, deposits and FHLB borrowings, mature or reprice at
different rates than their interest-earning  assets. Although having liabilities
that mature or reprice less frequently on average than assets will be beneficial
in times of rising interest rates, such an asset/liability structure will result
in lower net income during periods of declining interest rates, unless offset by
other factors.

It is important to ABI and ABO to manage the relationship between interest rates
and the effect on their net portfolio  value ("NPV").  This approach  calculates
the difference  between the present value of expected cash flows from assets and
the present value of expected cash flows from liabilities, as well as cash flows
from off-balance sheet contracts.  Assets and liabilities are managed within the
context of the marketplace,  regulatory limitations and within its limits on the
amount  of  change in NPV,  which is  acceptable  given  certain  interest  rate
changes.

The OTS  issued a  regulation,  which  uses a net market  value  methodology  to
measure the interest rate risk exposure of savings associations.  Under this OTS
regulation an institution's "normal" level of interest rate risk in the event of
an assumed change in interest rates is a decrease in the institution's NPV in an
amount not exceeding 2% of the present value of its assets. Savings associations
with over $300 million in assets or less than a 12% risk-based capital ratio are
required to file OTS Schedule  CMR. Data from Schedule CMR is used by the OTS to
calculate  changes in NPV (and the related "normal" level of interest rate risk)
based upon certain interest rate changes (discussed below). Associations,  which
do not meet  either of the filing  requirements,  are not  required  to file OTS
Schedule CMR, but may do so voluntarily.  ABI and ABO both file Schedule CMR. As
ABO does not meet  either  of these  requirements,  it is not  required  to file
Schedule  CMR,   although  it  does  so   voluntarily.   Under  the  regulation,
associations  that must file are required to take a deduction (the interest rate
risk capital  component)  from their total capital  available to calculate their
risk-based  capital  requirement if their interest rate exposure is greater than
"normal." The amount of that deduction is one-half of the difference between (a)
the institution's  actual calculated exposure to a 200 basis point interest rate
increase or  decrease  (whichever  results in the greater pro forma  decrease in
NPV) and (b) its "normal"  level of exposure which is 2% of the present value of
its assets on the Thrift Financial Report filed two quarters earlier.

The  following   information   and  schedules  for  ABO  and  ABI  are  required
information.  The current  analysis  for ABO and ABI  performed by the OTS as of
September  30,  2000,  has not  been  received  from  the OTS and the  following
interest  rate  risk  measurements  for ABO and ABI  are  being  submitted  with
information from the OTS analysis as of June 30, 2000. Management believes there
has been no  significant  increase in the interest rate risk measures since June
30, 2000, for either ABO or ABI. Both banks have  instituted  measures to reduce
their  interest  rate risk results by extending  maturities of deposits and FHLB
advances and by retaining more variable verses fixed rate loans.

Presented  below,  as of June 30, 2000,  is an analysis  performed by the OTS of
ABO's  interest  rate risk as measured by changes in NPV for  instantaneous  and
sustained parallel shifts in the yield curve, in 100 basis point increments,  up
and down 300 basis  points.  At December  31, 1999,  2% of the present  value of
ABO's assets was $2.330  million.  Because the interest rate risk of a 200 basis
point increase in market rates (which was greater than the interest rate risk of
a 200 basis point  decrease) was $5.620 million at June 30, 2000, ABO would have
been  required  to make a  $1.645  million  deduction  from  its  total  capital
available to calculate its  risk-based  capital  requirement.  This reduction in
capital would reduce ABO's risk-based capital ratio to 10.87% from 13.44%, which
is still in excess of the required risk-based capital ratio of 8.0%.


                                                                              11
<PAGE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------
                                                                                                 NPV as Percent of
                                               Net Portfolio Value                               Present Value of Assets
------------------------------------------------------------------------------------------------------------------------------
 Change                       Dollar                Dollar                Percent
in Rates                      Amount                Change                Change               NPV Ratio             Change
------------------------------------------------------------------------------------------------------------------------------
                                                    (Dollars in Thousands)
<S>                         <C>                    <C>                     <C>                  <C>                  <C>
 +300  bp*                  $ -1,326               $ -8,505               -118%                -1.17%               -691  bp
 +200  bp                      1,559                 -5,620                -78                  1.33                -441  bp
 +100  bp                      4,443                 -2,736                -38                  3.66                -208  bp
    0  bp                      7,179                                                            5.74
 -100  bp                      9,397                  2,217                +31                  7.32                +158  bp
 -200  bp                     10,102                  2,923                +41                  7.75                +202  bp
 -300  bp                     10,655                  3,476                +48                  8.07                +233  bp
<FN>
* basis points
</FN>
</TABLE>

Also presented below, as of June 30, 2000, is an analysis, performed by the OTS,
of ABI's interest rate risk as measured by changes in NPV for  instantaneous and
sustained parallel shifts in the yield curve, in 100 basis point increments,  up
and down 300 basis  points.  At December  31, 1999,  2% of the present  value of
ABI's assets was $7.313  million.  Because the interest rate risk of a 200 basis
point increase in market rates (which was greater than the interest rate risk of
a 200 basis point decrease) was $12.558 million at June 30, 2000, ABI would have
been  required  to make a  $2.623  million  deduction  from  its  total  capital
available to calculate its  risk-based  capital  requirement.  This reduction in
capital would reduce ABI's risk-based capital ratio to 13.28% from 14.41%, which
is still in excess of the required risk-based capital ratio of 8.0%.
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------

                                                                                                    NPV as Percent of
                                               Net Portfolio Value                               Present Value of Assets
------------------------------------------------------------------------------------------------------------------------------
 Change                      Dollar                 Dollar                Percent
in Rates                     Amount                 Change                Change               NPV Ratio             Change
------------------------------------------------------------------------------------------------------------------------------
                                                    (Dollars in Thousands)
<S>                         <C>                    <C>                      <C>                 <C>                  <C>
+300  bp*                   $ 15,529               $-19,032                -55%                 4.15%               -449  bp
+200  bp                      22,003                -12,558                -36                  5.75                -290  bp
+100  bp                      28,479                 -6,082                -18                  7.28                -137  bp
   0  bp                      34,561                                                            8.65
-100  bp                      39,713                  5,153                +15                  9.75                +110  bp
-200  bp                      38,760                  4,199                +12                  9.48                 +83  bp
-300  bp                      38,220                  3,659                +11                  9.30                 +65  bp
<FN>
* basis points`
</FN>
</TABLE>

Presented  below,  as of June 30, 1999,  is an analysis  performed by the OTS of
ABO's  interest  rate risk as measured by changes in NPV for  instantaneous  and
sustained parallel shifts in the yield curve, in 100 basis point increments,  up
and down 300 basis  points.  At December  31, 1998,  2% of the present  value of
ABO's assets was $1.867  million.  Because the interest rate risk of a 200 basis
point increase in market rates (which was greater than the interest rate risk of
a 200 basis point  decrease) was $2.190 million at June 30, 1999, ABO would have
been required to make a $.162 million deduction from its total capital available
to calculate its risk-based capital requirement. This reduction in capital would
reduce ABO's risk-based capital ratio to 18.39% from 18.75%,  which is still far
in excess of the required risk-based capital ratio of 8%.



                                                                              12
<PAGE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
                                                                                                 NPV as Percent of
                                               Net Portfolio Value                               Present Value of Assets
-------------------------------------------------------------------------------------------------------------------------------
 Change                      Dollar                 Dollar                Percent
in Rates                     Amount                 Change                Change               NPV Ratio             Change
-------------------------------------------------------------------------------------------------------------------------------

<S>                         <C>                    <C>                      <C>                 <C>                  <C>
 +300  bp*                  $  8,035               $ -3,619                -31%                 9.48%               -329  bp *
 +200  bp                      9,464                 -2,190                -19%                10.87%               -190  bp
 +100  bp                     10,726                   -929                 -8%                12.01%                -76  bp
    0  bp                     11,654                                                           12.77%
 -100  bp                     11,593                    -62                 -1%                12.54%                -22  bp
 -200  bp                     10,914                   -740                 -6%                11.73%               -104  bp
 -300  bp                     10,288                 -1,366                -12%                10.96%               -180  bp
<FN>
* basis points
</FN>
</TABLE>

Also presented below, as of June 30, 1999, is an analysis, performed by the OTS,
of ABI's interest rate risk as measured by changes in NPV for  instantaneous and
sustained parallel shifts in the yield curve, in 100 basis point increments,  up
and down 300 basis  points.  At December  31, 1998,  2% of the present  value of
ABI's assets was $6.493  million.  Because the interest rate risk of a 200 basis
point increase in market rates (which was greater than the interest rate risk of
a 200 basis point  decrease) was $9.386 million at June 30, 1999, ABI would have
been  required  to make a  $1.447  million  deduction  from  its  total  capital
available to calculate its  risk-based  capital  requirement.  This reduction in
capital would reduce ABI's risk-based capital ratio to 17.22% from 18.05%, which
is still far in excess of the required risk-based capital ratio of 8.0%.
<TABLE>
<CAPTION>

-------------------------------------------------------------------------------------------------------------------------------
                                                                                                 NPV as Percent of
                                               Net Portfolio Value                               Present Value of Assets
-------------------------------------------------------------------------------------------------------------------------------
   Change                    Dollar                 Dollar                Percent
in Rates                     Amount                 Change                Change               NPV Ratio             Change
-------------------------------------------------------------------------------------------------------------------------------
                                                    (Dollars in Thousands)
<S>                         <C>                    <C>                      <C>                 <C>                  <C>
+300  bp*                   $ 20,562               $-14,945                -42%                 6.74%               -422  bp *
+200  bp                      26,122                 -9,386                -26%                 8.38%               -258  bp
+100  bp                      31,392                 -4,116                -12%                 9.86%               -110  bp
   0  bp                      35,508                                                           10.96%
-100  bp                      37,679                  2,171                 +6%                11.50%                +54  bp
-200  bp                      37,040                  1,533                 +4%                11.27%                +31  bp
-300  bp                      36,772                  1,264                 +4%                11.14%                +17  bp
<FN>
* basis points
</FN>
</TABLE>

As with any method of measuring  interest rate risk,  certain  shortcomings  are
inherent in the methods of  analysis  presented  above.  For  example,  although
certain  assets  and  liabilities  may have  similar  maturities  or  periods to
repricing,  they may react in  different  degrees to changes in market  interest
rates.  Also, the interest rates on certain types of assets and  liabilities may
fluctuate in advance of changes in market interest  rates,  while interest rates
on other types may lag behind  changes in market  rates.  Additionally,  certain
assets, such as adjustable-rate loans, have features,  which restrict changes in
interest rates on a short-term basis and over the life of the asset. Further, in
the event of a change in interest rates,  expected rates of prepayments on loans
and early withdrawals from certificates could likely deviate  significantly from
those assumed in calculating the table.  Finally,  the ability of many borrowers
to service  their debt may decrease in the event of an interest  rate  increase.
The  Company  considers  all of these  factors in  monitoring  its  exposure  to
interest rate risk.


                                                                              13
<PAGE>

OTHER
-----

ABI and ABO were merged into one bank under the ABI charter  effective  with the
close of business on October 4, 2000.

The  Securities  and  Exchange  Commission  ("SEC")  maintains  reports,   proxy
information,  statements and other information  regarding  registrants that file
electronically   with  the  SEC,   including   the   Company.   The  address  is
(http://www.sec.gov).


                                                                              14
<PAGE>

PART II - OTHER INFORMATION


ITEM 1  -  Legal Proceedings
           -----------------

           No  changes  have  taken  place in regard  to the  legal  proceedings
           disclosed in the registrant's  report on Form 10-K for the year ended
           December 31, 1999.


ITEM 2  -  Changes in Securities
           ---------------------

           Not Applicable


ITEM 3  -  Defaults in Senior Securities
           -----------------------------

           Not Applicable


ITEM 4  -  Submission of Matters to a Vote of Security Holders
           ---------------------------------------------------

           Not Applicable

ITEM 5  -  Other Information
           -----------------

           Not Applicable


ITEM 6  -  Exhibits and Reports on Form 8-K
           --------------------------------

           Not Applicable



                                                                              15
<PAGE>

SIGNATURES


AMERIANA BANCORP AND SUBSIDIARIES


Pursuant to the requirements of Section 13 or 15 (d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                                      AMERIANA BANCORP




DATE: November 6, 2000          /s/ Harry J. Bailey
      ----------------          -------------------
                                Harry J. Bailey
                                President and
                                Chief Executive Officer
                                (Duly Authorized Representative)



DATE: November 6, 2000          /s/ Richard E. Welling
      ----------------          ----------------------
                                Richard E. Welling
                                Senior Vice President-Treasurer
                                (Principal Financial Officer
                                and Accounting Officer)





                                                                              16