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IRWIN FINANCIAL CORPORATION ANNOUNCES STOCK SPLIT AND THIRD QUARTER DIVIDEND

 IRWIN FINANCIAL CORPORATION ANNOUNCES
 STOCK SPLIT AND THIRD QUARTER DIVIDEND
 COLUMBUS, Ind., Aug. 18 /PRNewswire/ -- Irwin Financial Corporation (NASDAQ: IRWN) today announced a two-for-one stock split. The stock split will be distributed Sept. 2, 1992 to all shareholders of record on Aug. 28, 1992. The total shares outstanding will increase from approximately 1,428,000 to 2,856,000 shares.
 Will Miller, chairman of Irwin Financial, said, "We are splitting the stock again as part of our long term efforts to improve the liquidity in the market for Irwin Financial stock. Our hope is that increases in the amount and consistency of trading volume will benefit our shareholders by allowing our stock price to reflect fully the earnings power of the company." The corporation's last stock split was a three-for-two exchange in December of 1991.
 In addition, the corporation announced its third quarter dividend of $.10 per share, payable on the shares outstanding after the stock split. This level of quarterly dividends would equate to $.20 per share on a pre-split basis. Accordingly, the total dollars paid out in quarterly dividends remains unchanged from previous quarters in 1992. The dividend is payable on Sept. 25, 1992, to shareholders of record on Sept. 11, 1992.
 As previously announced, Irwin Financial's earnings for the three months ended June 30, 1992 were $2,458,542, a 70.1 percent increase over the second quarter of 1991. Year-to-date net income was $5,125,107, up 87.5 percent over the first six months of 1991. Both second quarter and year-to-date earnings set new records for the corporation.
 In other business, the corporation announced its intent to file an application with NASDAQ to change the listing of Irwin Financial stock from NASDAQ Small-Cap Issues to the National Market System.
 Irwin Financial Corporation is an interrelated group of financial services companies serving niche markets, headquartered in Columbus, Ind. The corporation, through its four principal operating subsidiaries -- Irwin Union Bank and Trust Company, Inland Mortgage Corporation, Irwin Union Investor Services and Affiliated Capital Corp. -- provides a broad range of commercial, retail and mortgage banking services as well as trust, investment, leasing and insurance services.
 -0- 8/18/92
 /CONTACT: Bradley Kime (media), 812-376-1734; or Thomas Washburn, 812-376-1769; both of Irwin Financial Corporation/
 (IRWN) CO: Irwin Financial Corporation ST: Indiana IN: FIN SU: DIV


KK -- CL013 -- 1031 08/18/92 14:33 EDT
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Publication:PR Newswire
Date:Aug 18, 1992
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