Lincoln Bancorp Announces Stock Repurchase Program

Apr 18, 2001, 01:00 ET from Lincoln Bancorp

    PLAINFIELD, Ind., April 18 /PRNewswire/ -- Lincoln Bancorp (Nasdaq:   LNCB)
 (the "Corporation") announced today that the Board of Directors has approved
 the repurchase, from time to time, on the open market of up to 5% of the
 Corporation's outstanding shares of common stock, without par value ("Common
 Stock") or 283,875 such shares.  Such purchases will be made subject to market
 conditions in open market or block transactions.  Repurchases may begin as
 early as Monday, April 23, 2001.
     According to Tim Unger, President of the Corporation, the Board believes
 that the Corporation's shares are currently undervalued by the market and that
 open market purchases will have the potential effect of enhancing the book
 value per share and the potential for growth in earnings per share of the
 Corporation's remaining outstanding shares.
     The foregoing discussion contains forward-looking statements within the
 meaning of the Private Securities Litigation Reform Act of 1995, which involve
 a number of risks and uncertainties.  A number of factors could cause results
 to differ materially from the objectives and estimates expressed in such
 forward-looking statements.  These factors include, but are not limited to,
 anticipated market prices and prices actually paid by the Corporation for its
 shares pursuant to the stock repurchase program announced herein.  These
 factors should be considered in evaluating any forward-looking statements, and
 undue reliance should not be placed on such statements.  The Corporation does
 not undertake and specifically disclaims any obligation to update any forward-
 looking statements to reflect occurrence of anticipated or unanticipated
 events or circumstances after the date of such statements.
     Lincoln Bancorp (NASDAQ Symbol "LNCB"), an Indiana corporation, is the
 holding company for Lincoln Federal Savings Bank, a federal savings bank,
 headquartered in Plainfield, Indiana, with additional offices in Avon,
 Brownsburg, Crawfordsville, Frankfort, Greenwood and Mooresville.
 
 

SOURCE Lincoln Bancorp
    PLAINFIELD, Ind., April 18 /PRNewswire/ -- Lincoln Bancorp (Nasdaq:   LNCB)
 (the "Corporation") announced today that the Board of Directors has approved
 the repurchase, from time to time, on the open market of up to 5% of the
 Corporation's outstanding shares of common stock, without par value ("Common
 Stock") or 283,875 such shares.  Such purchases will be made subject to market
 conditions in open market or block transactions.  Repurchases may begin as
 early as Monday, April 23, 2001.
     According to Tim Unger, President of the Corporation, the Board believes
 that the Corporation's shares are currently undervalued by the market and that
 open market purchases will have the potential effect of enhancing the book
 value per share and the potential for growth in earnings per share of the
 Corporation's remaining outstanding shares.
     The foregoing discussion contains forward-looking statements within the
 meaning of the Private Securities Litigation Reform Act of 1995, which involve
 a number of risks and uncertainties.  A number of factors could cause results
 to differ materially from the objectives and estimates expressed in such
 forward-looking statements.  These factors include, but are not limited to,
 anticipated market prices and prices actually paid by the Corporation for its
 shares pursuant to the stock repurchase program announced herein.  These
 factors should be considered in evaluating any forward-looking statements, and
 undue reliance should not be placed on such statements.  The Corporation does
 not undertake and specifically disclaims any obligation to update any forward-
 looking statements to reflect occurrence of anticipated or unanticipated
 events or circumstances after the date of such statements.
     Lincoln Bancorp (NASDAQ Symbol "LNCB"), an Indiana corporation, is the
 holding company for Lincoln Federal Savings Bank, a federal savings bank,
 headquartered in Plainfield, Indiana, with additional offices in Avon,
 Brownsburg, Crawfordsville, Frankfort, Greenwood and Mooresville.
 
 SOURCE  Lincoln Bancorp