1ST BANCORP Announces 5% Stock Dividend.

VINCENNES, Ind.--(BUSINESS WIRE)--Dec. 18, 1997--The Board of Directors of 1ST BANCORP announced today that it has declared a 5% stock dividend on its shares of common stock. The dividend will be paid January 23, 1998 to shareholders of record as of January 9, 1998. No fractional shares will be issued, and cash in lieu of fractional shares based on the market price per share of the Corporation's common stock on January 9, 1998 will be paid to shareholders.

"This is the third consecutive year in which a 5% stock dividend was declared," stated C. James McCormick, Chairman of 1ST BANCORP. "We are pleased to announce this stock dividend which we hope will create a more liquid market for our stock and enhance shareholder value."

1ST BANCORP (NASDAQ:FBCV) is a holding company whose subsidiaries include First Federal Bank, A Federal Savings Bank, First Financial Insurance Agency, Inc., and First Title Insurance Company. First Federal operates two retail banking offices in Vincennes, Indiana and operates a loan origination office in Evansville, Indiana. First Financial operates two full service insurance offices in Vincennes and Princeton, Indiana. Information about 1ST BANCORP and First Federal may be found at http://businesswire.com/cnn/fbcv.htm and www.firstfedafsb.com on the World Wide Web.

CONTACT: 1ST BANCORP, Vincennes

Frank Baracani, 812/885-2255