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Home Federal Bancorp announces stock split and 20% dividend increase.

SEYMOUR, Ind.--(BUSINESS WIRE)--Nov. 26, 1996--Home Federal Bancorp ("Home Federal") (NASDAQ: HOMF), the holding company of Home Federal Savings Bank of Seymour, Indiana (the "Bank"), today announced that it has declared a three for two stock split, under which every two shares of its common stock outstanding at the close of business on December 6, 1996, will be converted into three shares of common stock.

The additional certificate(s) payable to shareholders as a result of the split will be sent to them on December 20, 1996. No fractional shares will be issued, and cash in lieu of fractional shares, based on the market price of a share of Home Federal Bancorp's Common Stock on December 6, 1996, will be paid to shareholders. Home Federal last split its stock in a three for two exchange in September of 1993.

John K. Keach, Jr., President and CEO of Home Federal Bancorp, stated that, "The stock split recognizes our past performance and our potential growth. Certainly, it will improve the liquidity of Home Federal Bancorp stock and will put more shares in the hands of potential investors in the marketplace, at a more attractive price." The split will result in the issuance of approximately 1,118,341 new shares of stock, bringing the total shares outstanding to 3,355,023.

The Board of Directors also announced a 20% increase in its quarterly dividend payment. The second quarter dividend of $0.10 per share will be paid on January 3, 1997, to all shareholders of record on December 23, 1996. This quarterly dividend would equate to $0.15 per share on a pre-split basis.

As previously announced, Home Federal Bancorp posted record year- end net income of $7.35 million, for the year ended June 30, 1996, a 12.5 percent increase over the previous year. Earnings per share rose 11 percent to $3.22 per share. First quarter earnings were previously reported at $430,630 or $0.19 per share but included a $1.73 million after tax charge to help recapitalize the FDIC SAIF insurance fund. Without the charge income for the quarter would have been $2.2 million or $0.94 per share compared to $0.79 per share for the quarter ended September 30, 1995.

Home Federal Bancorp is a unitary holding company, with Home Federal Savings Bank as its sole subsidiary. Home Federal Savings Bank, an FDIC insured savings bank founded in 1908, offers a wide range of consumer and commercial financial services through 16 offices in southeastern Indiana.

CONTACT: Home Federal Bancorp, Seymour

John K. Keach, Jr.,

812/376-3323 (AM) or 812/523-7316 (PM)

or

Lawrence E. Welker, 812/523-7308
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Publication:Business Wire
Date:Nov 26, 1996
Words:444
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