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:
                             ---------------------

                  June 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 August 8, 2000, there were issued and outstanding  3,146,616 shares of the
registrant's common stock.






                                  1 of 17 Pages



<PAGE>
AMERIANA BANCORP AND SUBSIDIARIES



                                    CONTENTS


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

     ITEM 1 - Financial statements

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

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

              Consolidated Condensed Statements of Cash Flows for
              the Six Months Ended June 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......................................10


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


SIGNATURES..................................................................15


EDGAR  -  Financial Data Schedule...........................................16






                                                                               2
<PAGE>


PART I  -  FINANCIAL INFORMATION

                        AMERIANA BANCORP AND SUBSIDIARIES
           CONSOLIDATED CONDENSED STATEMENTS OF CONDITION - Unaudited

<TABLE>
<CAPTION>

                                                         June 30, 2000  December 31, 1999  June 30, 1999
                                                         -------------  -----------------  -------------
<S>                                                      <C>             <C>                <C>
Assets

  Cash on hand and in other institutions                 $ 8,027,510     $ 14,636,884       $ 8,168,612
  Interest-bearing demand deposits                         5,142,146        5,295,715         3,485,820
  Interest-bearing time deposits                             100,000        1,499,000         4,686,000
  Investment securities held to maturity  (fair
     value of  $81,844,000, $81,481,000
     and $76,732,000, respectively)                       87,816,517       87,735,008        80,115,975
  Mortgage-backed securities held to maturity (fair
     value of $12,557,000, $14,787,000
     and $16,978,000, respectively)                       12,759,880       14,970,002        17,090,362
  Mortgage loans held for sale                               385,000          207,400           529,500
  Loans receivable                                       379,252,168      326,804,739       266,109,279
  Allowance for loan losses                               (1,293,351)      (1,534,278)       (1,326,474)
                                                       --------------   --------------    -------------

      Net loans receivable                               377,958,817      325,270,461       264,782,805
  Real estate owned                                          100,172              100            55,549
  Premises and equipment                                   7,345,440        7,117,271         5,960,723
  Stock in Federal Home Loan Bank                          5,730,400        4,341,300         3,629,100
  Mortgage servicing rights                                  876,990          910,273           943,069
  Investments in unconsolidated affiliates                 1,105,424        1,179,244         1,277,657
  Intangible assets                                        1,760,960        1,852,360         1,947,810
  Cash surrender value of life insurance                  16,715,537       16,117,534        15,759,472
  Other assets                                             5,087,075        5,216,868         4,651,329
                                                       --------------   --------------    -------------

          Total assets                                 $ 530,911,868    $ 486,349,420     $ 413,083,783
                                                       ==============   ==============    =============

Liabilities and Shareholders' Equity

Liabilities:
  Deposits:
         Noninterest-bearing                            $ 16,819,602     $ 16,308,154      $ 15,390,297
         Interest-bearing                                348,858,752      339,450,706       320,214,792
                                                       --------------   --------------    -------------

            Total deposits                               365,678,354      355,758,860       335,605,089
  Advances from Federal Home Loan Bank                   113,755,782       82,510,982        27,066,286
  Notes payable                                            2,770,456               --                --
  Drafts payable                                           4,204,595        3,901,316         2,785,494
  Advances by borrowers for taxes and insurance              695,808          823,111           487,718
  Other liabilities                                        2,773,366        3,326,611         3,142,357
                                                       --------------   --------------    -------------

          Total liabilities                              489,878,361      446,320,880       369,086,944

Shareholders' equity:
  Preferred stock (5,000,000 shares authorized;
      none issued)                                                --               --                --
  Common stock ($1.00 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         3,389,876
  Additional paid-in capital                                 499,532          492,227         4,915,392
  Retained earnings-substantially restricted              37,387,359       36,390,522        35,691,571
                                                       --------------   --------------    -------------

          Total shareholders' equity                      41,033,507       40,028,540        43,996,839
                                                       --------------   --------------    -------------

          Total liabilities and shareholders' equity   $ 530,911,868    $ 486,349,420     $ 413,083,783
                                                       ==============   ==============    =============
</TABLE>
See accompanying notes.


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

<TABLE>
<CAPTION>
                                                            Three Months Ended        Six MonthS Ended
                                                                 June 30,                 June 30,
                                                          ----------------------  -------------------------
                                                             2000       1999         2000          1999
                                                          ----------  ----------  -----------   -----------
<S>                                                       <C>         <C>         <C>           <C>
Interest Income:
   Interest on loans                                      $7,253,252  $5,105,651  $13,848,065   $10,243,732
   Interest on mortgage-backed securities                    236,032     281,349      468,262       585,781
   Interest on investment securities                       1,513,937   1,201,574    3,025,717     2,179,044
   Other interest and dividend income                        149,325     293,459      311,857       760,468
                                                          ----------  ----------  -----------   -----------

      Total interest income                                9,152,546   6,882,033   17,653,901    13,769,025

Interest Expense:
   Interest on deposits                                    4,250,920   3,532,917    8,283,687     7,141,482
   Interest on FHLB advances and other loans               1,738,513     268,879    3,091,412       494,727
                                                          ----------  ----------  -----------   -----------
      Total interest expense                               5,989,433   3,801,796   11,375,099     7,636,209
                                                          ----------  ----------  -----------   -----------

Net interest income                                        3,163,113   3,080,237    6,278,802     6,132,816

Provision for Loan Losses                                    109,000      30,000      179,000        67,500
                                                          ----------  ----------  -----------   -----------
Net interest income after provision
   for loan losses                                         3,054,113   3,050,237    6,099,802     6,065,316

Other Income:
   Net loan servicing fees                                    76,018      62,689      156,588       119,041
   Other fees and service charges                            301,924     238,463      574,702       458,157
   Brokerage and insurance commissions                       268,607     312,426      589,409       659,680
   Net loss on investments in unconsolidated
     affiliates                                              (32,320)    (98,048)     (73,820)     (146,798)
   Gains on sales of loans and servicing rights               16,870     154,245       34,225       316,694
   Increase in cash surrender value of life insurance        186,978      65,525      598,003        79,645
   Other                                                      38,780      35,955       75,551        64,944
                                                          ----------  ----------  -----------   -----------
      Total other income                                     856,857     771,255    1,954,658     1,551,363

Other Expense:
   Salaries and employee benefits                          1,639,553   1,490,497    3,335,788     2,940,103
   Net occupancy expense                                     383,977     339,678      730,372       702,970
   Federal insurance premium                                  18,465      45,226       37,648        91,786
   Data processing expense                                    77,600      63,150      142,638       143,211
   Printing and office supplies                               85,696      68,700      162,384       172,202
   Amortization of intangible assets                          45,701      47,725       91,401        94,960
   Other                                                     496,826     505,910      937,365       999,040
                                                          ----------  ----------  -----------   -----------
      Total other expense                                  2,747,818   2,560,886    5,437,596     5,144,272
                                                          ----------  ----------  -----------   -----------
Income before income taxes                                 1,163,152   1,260,606    2,616,864     2,472,407

Income taxes                                                 287,430     399,756      676,043       814,151
                                                          ----------  ----------  -----------   -----------
Net Income                                                 $ 875,722   $ 860,850  $ 1,940,821     1,658,256
                                                          ==========  ==========  ===========   ===========
Basic Earnings Per Share                                      $ 0.28      $ 0.25       $ 0.62        $ 0.48
                                                          ==========  ==========  ===========   ===========

Diluted Earnings Per Share                                    $ 0.28      $ 0.25       $ 0.62        $ 0.48
                                                          ==========  ==========  ===========   ===========

Dividends Declared Per Share                                  $ 0.15      $ 0.15       $ 0.30        $ 0.30
                                                          ==========  ==========  ===========   ===========

</TABLE>
See accompanying notes.

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

                                                                        Six Months Ended June 30,
                                                                      ----------------------------
                                                                          2000             1999
                                                                      -----------      -----------

<S>                                                                   <C>              <C>
OPERATING ACTIVITIES
Net income                                                           $  1,940,821     $  1,658,256
Adjustments to reconcile net income to net
  cash provided by operating activities:
    Provisions for losses on loans and real estate owned                  179,000           75,000
    Depreciation and amortization                                         232,934          280,923
    Equity in loss of limited partnership                                  73,820          146,798
    Mortgage servicing rights amortization                                 48,307          127,280
    Goodwill amortization                                                  91,400           94,960
    Deferred income taxes                                                      --           (2,615)
    Losses on sales of real estate owned                                   26,828            1,761
    Increase in cash surrender value of life insurance                   (598,003)         (87,734)
    Mortgage loans originated for sale                                 (3,584,144)     (19,021,576)
    Proceeds from sales of Mortgage loans                               3,425,745       22,937,175
    Gains on sales of loans and servicing rights                          (34,225)        (257,244)
    Decrease (increase) in other assets                                   129,793         (295,179)
    Increase (Decrease) in drafts payable                                 303,279       (1,568,298)
    Decrease in other liabilities                                        (680,702)      (1,272,063)
                                                                     ------------     ------------

       Net cash provided by operating activities                        1,554,853        2,817,444

INVESTING ACTIVITIES
  Net change in interest-bearing time deposits                          1,399,000       (1,199,000)
  Purchase of investment securities held to maturity                           --      (35,500,444)
  Proceeds from calls of securities held to maturity                           --        6,992,969
  Principal collected on mortgage-backed securities held
    to maturity                                                         2,183,199        3,076,979
  Net change in loans                                                 (53,082,621)      (3,078,562)
  Proceeds from sale of real estate owned                                  83,600           73,954
  Net purchases of premises and equipment                                (515,503)        (128,029)
  Premiums paid on life insurance                                              --      (15,461,000)
  Other investing activities                                           (1,384,521)         (41,456)
                                                                     ------------     ------------

       Net cash used by investing activities                          (51,316,846)     (45,264,589)

FINANCING ACTIVITIES
  Net change in demand and passbook deposits                            2,610,542        6,089,108
  Net change in certificates of deposit                                 7,308,952       (4,473,322)
  Advances from Federal Home Loan Bank                                175,200,000       12,500,000
  Repayment of Federal Home Loan Bank advances                       (143,955,200)      (2,534,413)
  Increase in notes payable                                             2,770,456               --
  Proceeds from exercise of stock options                                   8,131           66,937
  Purchase of common stock                                                     --       (2,047,470)
  Cash dividends paid                                                    (943,831)      (1,050,500)
                                                                     ------------     ------------
       Net cash provided by financing activities                       42,999,050        8,550,340
                                                                     ------------     ------------
Decrease in cash and cash equivalents                                  (6,762,943)     (33,896,805)

Cash and cash equivalents at beginning of period                       19,932,599       45,551,237
                                                                     ------------     ------------
Cash and cash equivalents at end of period                           $ 13,169,656     $ 11,654,432
                                                                     ============     ============
Supplemental information:
  Interest paid                                                      $ 11,450,355     $  7,772,312
  Income taxes paid                                                       250,000        1,120,000
</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 June 30, 2000 and December 31, 1999, and the
results of  operations  for the three month and six month periods ended June 30,
2000 and 1999 and  changes in cash flows for the six months  ended June 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 May 18, 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 June 16, 2000, and was paid on July 7, 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 quarter of 2000.

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

                                                Three Months Ended June 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            $875,722  3,146,616   $.28     $860,850  3,419,487    $ .25
Effect of dilutive stock options         --         78                  --     26,179
-------------------------------------------------------------------------------------------------
Diluted Earnings Per Share:
  Income available to
    common shareholders and
    assumed conversions            $875,722  3,146,694   $.28     $860,850  3,445,666    $ .25
-------------------------------------------------------------------------------------------------
<CAPTION>

-------------------------------------------------------------------------------------------------
                                                   Six Months Ended June 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          $1,940,821  3,146,285   $.62   $1,658,256  3,454,866    $ .48
Effect of dilutive stock options         --        136                  --     29,844
-------------------------------------------------------------------------------------------------
Diluted Earnings Per Share:
  Income available to
    common shareholders and
    assumed conversions          $1,940,821  3,146,421   $.62   $1,658,256  3,484,710    $ .48
-------------------------------------------------------------------------------------------------
</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 an relative  amounts of
interest-earning assets and interest-bearing liabilities.


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

During the first six months of 2000, the loan volume  consisted of variable rate
consumer  mortgages,  consumer loans and commercial real estate loans. The loans
outstanding  increased  $52,447,429  and 16.05% to  $379,252,168  during the six
months from  $326,804,739 at December 31, 1999. The mortgage loans held for sale
increased to $385,000 at June 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 $3,425,745
during  the first six months of 2000  compared  to  $22,937,175  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.

The net interest spread, difference between yield on interest-earning assets and
cost on  interest-bearing  liabilities,  has  decreased  .50%  during the second
quarter  of 2000  compared  to the same  period in 1999 and has  decreased  .34%
during  the first six months of 2000  compared  to 1999.  Rates in general  have
increased  and using the Prime rate as an


                                                                               7
<PAGE>
indicator,  it  remained  at 7.75% all  during  the first six months of 1999 and
increased  six times  during the last twelve  month  period ended June 30, 2000.
Prime  averaged  9.25%  during the second  quarter of 2000 and 8.97%  during the
first six months of 2000.  The net yield  decrease is due to the interest  yield
increase of .38% on interest-earning average assets for the second quarter being
more than offset by the .88% rate increase in cost on  interest-bearing  average
liabilities for the second  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  especially  the second  quarter of
2000. The yield on average  earning assets  increased .31% during the first half
of 2000 while the yield on average interest bearing liabilities increased .65%.

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

                                      Three Months Ended    Six Months Ended
                                      ------------------    ----------------
                                           June 30,             June 30,
                                      ------------------    ----------------
                                        2000      1999       2000      1999
                                        ----      ----       ----      ----
                                              (Dollars in Thousands)
  <S>                                <C>       <C>         <C>       <C>
  Interest-earning assets            $478,867  $378,390    $466,232  $380,518
  Interest-bearing liabilities        445,795   337,498     436,713   336,484
                                      -------   -------     -------   -------

     Net interest-earning assets     $ 33,072  $ 40,892    $ 29,519  $ 44,034
                                      -------   -------     -------   -------

  Average yield on:
     Interest-earning assets             7.68%     7.30%       7.61%     7.30%
     Interest-bearing liabilities        5.40      4.52        5.23      4.58
                                         ----      ----        ----      ----

        Net interest spread              2.28%     2.78%       2.38%     2.72%
                                         ----      ----        ----      ----
</TABLE>

Net interest  income for the second  quarter 2000 was $3,163,113 and was $82,876
and 2.69% more than $3,080,237  during the second quarter of 1999. This increase
is due to higher  interest  expense  being more than  offset by higher  interest
income. The $2,270,000  increase in interest income on average  interest-earning
assets is a combination of an increase of $1,970,000  because of the increase in
the volume mix of average  outstanding  interest-bearing  assets  plus  $300,000
because of increased rates on average  interest-earning  assets. The increase of
$2,187,000  in cost  of  interest-bearing  liabilities  is a  combination  of an
increase of  $1,681,000  from higher  average  balances and $506,000 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
2.66% for the second  quarter 2000  compared to 3.27% for the second  quarter of
1999.

Net  interest  income  for the first six months of 2000 was  $6,278,802  and was
$145,986  and 2.38%  more than  $6,132,816  during the first six months of 1999.
This increase is due to higher interest expense being more than offset by higher
interest  income.  The  $3,885,000   increase  in  interest  income  on  average
interest-earning assets is a combination of an increase of $3,336,000 because of
the increase in the volume mix of average  outstanding  interest-bearing  assets
plus $549,000 because of increased rates on average interest-earning assets. The
increase of $3,739,000 in cost of interest-bearing  liabilities is a combination
of an increase of  $3,009,000  from higher  average  balances and $730,000  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 2.71% for the first six  months of 2000  compared  to 3.25% for the first six
months of 1999.


                                                                               8
<PAGE>

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

                                                  Three Months Ended June 30,      Six Months Ended June 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           $1,969     $ 133      $2,102    $3,370    $  116      $3,486
   Other interest-earning assets                       1       167         168       (34)      433         399
                                                   -----      ----       -----     ------     ----       -----
   Total interest-earning assets                   1,970       300       2,270     3,336       549       3,885
                                                   -----      ----       -----     ------     ----       -----
Interest Expense:
   Deposits                                          320       398         718       579       564       1,143
   FHLB advance and other loans                    1,361       108       1,469     2,430       166       2,596
                                                   -----      ----       -----     -----      ----       -----
   Total interest-bearing liabilities              1,681       506       2,187     3,009       730       3,739
                                                   -----       ---       -----     -----      ----       -----
   Change in net interest income                  $  289     $(206)     $   83    $  327    $ (181)     $  146
                                                   -----      ----       -----     -----     -----      ------
</TABLE>

The  provision  for loan losses was $109,000  during the second  quarter of 2000
compared  to $30,000  during the same  period in 1999.  The  provision  for loan
losses for the six months ended June 30, 2000, was $179,000  compared to $67,500
for the first six months of 1999. Net charge-offs  were $420,000 and $25,000 for
2000 and  1999  first  six  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>

                                          June 30,    December 31,     June 30,
                                             2000          1999           1999
                                             ----          ----           -----
                                                  (Dollars in Thousands)
     <S>                                   <C>          <C>            <C>
     Loans:
       Non-accrual                         $  619       $1,171         $  828
       Over 90 days delinquent                 38           25            152
     Trouble debt restructured                640          751            805
     Real estate owned (at market value)      100            0             56
                                             ----        -----          -----

               Total                       $1,397       $1,947         $1,841
                                            -----        -----          -----
</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 .34%, .47% and .50% at June 30, 2000,  December 31, 1999 and June
30, 1999, respectively.

Total other income for the second quarter of 2000  increased  $85,602 and 11.10%
to $856,857 from $771,255 in the same period during 1999. Total other income for
the six months  ended June 30, 2000,  was up $403,295  and 26.00% to  $1,954,658
from $1,551,363 during the first six 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 second  quarter of 2000
decreased $137,375 and 89.06% to $16,870 from $154,245 during the same period in
1999. Gains on sales of loans and servicing rights decreased $282,469 and 89.19%
during the six months ended June 30, 2000, to $34,225 from  $316,694  during the
same period in 1999. Brokerage and insurance  commissions  decreased $70,271 and
10.65% for the six months  due to lower  loan  demand.  Gains for the six months
were noted in net loan servicing fees increasing $37,547 and 31.54%,  other fees
and  servicing  increasing  $116,545  and 25.44% and net loss on  investment  in
unconsolidated  affiliate  increasing because of the loss being lower by $72,978
and 49.71%. Cash surrender value of life insurance had a significant increase to
$598,003 in 2000 versus only  $79,645 in 1999 for an increase of  $518,358.  The
banks invested in insurance  products during the second quarter of 1999 and this
investment  partially accounted for the large increase in insurance income. This
category also


                                                                               9
<PAGE>

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  $186,932 and 7.30% during the second  quarter of
2000 to $2,747,818 from $2,560,886  during the same period in 1999 and increased
$293,324  and 5.70% to  $5,437,596  during  the  first  six  months of 2000 from
$5,144,272  during the first six 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 67.22% for the second  quarter of 2000  compared to 65.25% for the
second  quarter of 1999 and increased to 64.93% for the first six months of 2000
compared to 65.71% for the first six months of 1999.

The tax rate during the second quarter of 2000 was 24.71% and was 25.83% for the
first six months of 2000  compared to 31.71% and 32.93% 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.


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 June 30,
2000,  the  Company's  cash  and   interest-bearing   demand  deposits   totaled
$13,169,656 and 2.48% 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 9.30% and 7.71%, 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  June  30,  2000,  was  $18,512,000  and  $5,124,000,
respectively.  At June 30, 2000, ABI had total risk-based capital of $33,342,000
and a 14.41% ratio and ABO had  risk-based  capital of  $8,609,000  and a 13.44%
ratio.

At June 30,  2000,  the  Company's  commitments  for  loans in  process  totaled
$20,273,000,  with 95% 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.


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,


                                                                              10
<PAGE>

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
June 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 March 31,  2000.  Management  believes  there has been no
significant  increase in the interest rate risk  measures  since March 31, 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 March 31,2000,  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 September  30, 1999,  2% of the present value of
ABO's assets was $2.206  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 $5.803 million at March 31, 2000, ABO would have
been  required  to make a  $1.799  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 10.60% from 13.47%, 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*                 $  -1,055              $  -8,747               -114%                -0.95%               -719  bp
 +200  bp                      1,890                 -5,803                -75                  1.64                -461  bp
 +100  bp                      4,847                 -2,845                -37                  4.06                -218  bp
    0  bp                      7,693                                                            6.24
 -100  bp                     10,005                  2,312                +30                  7.91                +166  bp
 -200  bp                     10,743                  3,050                +40                  8.37                +212  bp
 -300  bp                     11,206                  3,513                +46                  8.62                +238  bp

* basis points
</TABLE>

                                                                              11
<PAGE>

Also presented below, as of March 31,2000, 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 September  30, 1999,  2% of the present value of
ABI's assets was $6.997  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 $14.040  million at March 31, 2000,  ABI would
have been  required to make a $3.522  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 13.54% from 15.18%, 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*                  $  13,158              $ -20,958                -61%                 3.75%               -531  bp
+200  bp                      20,076                -14,040                -41                  5.59                -347  bp
+100  bp                      27,105                 -7,011                -21                  7.37                -169  bp
    0 bp                      34,116                                                            9.06
-100  bp                      39,487                  5,371                +16                 10.29                +123  bp
-200  bp                      39,250                  5,134                +15                 10.18                +112  bp
-300  bp                      38,949                  4,833                +14                 10.06                +100  bp

* basis points`
</TABLE>

Presented  below,  as of March 31, 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 September  30, 1998,  2% of the present value of
ABO's assets was $1.933  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 $1.585 million at March 31, 1999, ABO would not
have been required to make a capital deduction.
<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*                 $  10,062              $  -2,753                -21%                11.69%               -215  bp
 +200  bp                     11,230                 -1,585                -12                 12.70                -114  bp
 +100  bp                     12,175                   -640                 -5                 13.44                 -40  bp
    0  bp                     12,815                                                           13.84
 -100  bp                     13,408                    593                 +5                 14.17                 +33  bp
 -200  bp                     14,215                  1,400                +11                 14.66                 +82  bp
 -300  bp                     15,445                  2,630                +21                 15.48                +164  bp

* basis points
</TABLE>

Also  presented  below,  as of March 31, 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 September 30, 1998, 2% of the present value of
ABI's assets was $6.204  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 $10.439  million at March 31, 1999,  ABI would
have been  required to make a $2.118  million


                                                                              12
<PAGE>

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 19.82%  from  21.15%,  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*                  $  28,851              $ -16,148                -36%                 9.47%               -433  bp
+200  bp                      34,560                -10,439                -23                 11.08                -273  bp
+100  bp                      39,949                 -5,050                -11                 12.52                -129  bp
    0 bp                      44,999                                                           13.81
-100  bp                      50,570                  5,572                +12                 15.17                +136  bp
-200  bp                      56,865                 11,866                +26                 16.64                +283  bp
-300  bp                      64,420                 19,422                +43                 18.33                +453  bp

* basis points
</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 that 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.


OTHER
-----
Ameriana Bancorp has requested permission from the OTS to merge ABO and ABI into
one institution  with ABI being the survivor.  This merger is being  implemented
because of the efficiencies it will provide.

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).


                                                                              13
<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
          ---------------------------------------------------

           On May 18,  2000,  the  Company  held  its  2000  annual  meeting  of
           shareholders.  A total of 2,527,788 shares, or 80.3% of the Company's
           shares outstanding,  were represented at the meeting either in person
           or by proxy.

           Two Directors were  nominated by the Company's  Board of Directors to
           serve new  three-year  terms  expiring in 2003.  The nominees and the
           voting results for each are listed below:
                                           For                Withheld
                                        ---------             --------
           R. Scott Hayes               2,497,372  98.8%      30,416  1.2%
           Michael E. Kent              2,498,323  98.8%      29,465  1.2%

           The following  Directors,  whose three year terms of service have not
           expired, continue as Directors of the Company:
                Donald C. Danielson, Paul W. Prior, Harry J. Bailey
                Charles M. Drackett Jr. and Ronald R. Pritzke.

           The  Shareholders  ratified the  appointment of Olive LLP as auditors
           for the Company for the fiscal year ended  December 31, 2000. A total
           of  2,504,205  and 99.1% of shares  voted in favor of this  proposal,
           15,978 and .6% of shares voted against the proposal and 7,605 and .3%
           of shares abstained from voting on the proposal.


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

           Not Applicable


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

           Not Applicable


                                                                              14
<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: August 8, 2000            /s/ Harry J. Bailey
      --------------            -------------------
                                Harry J. Bailey
                                President and
                                Chief Executive Officer
                                (Duly Authorized Representative)



DATE: August 8, 2000            /s/ Richard E. Welling
      --------------            ----------------------
                                Richard E. Welling
                                Senior Vice President-Treasurer
                                (Principal Financial Officer
                                and Accounting Officer)



                                                                              15