Bank of Evansville's Assets and Revenues Continue to Grow According to Plan

Assets Increase 35% to $117.7 Million
Net Income for first nine months of 2003 up $238.5 Thousand

Evansville, Indiana, October 28, 2003 - Bank of Evansville, N. A. (OTCBB: BEVN)
posted its ninth consecutive quarter of asset and earnings growth. According to Thomas L. Austerman, President and Chief Executive Officer, the financial results were driven by: 1) the growth of commercial loans to small and mid-size businesses; 2) non-interest income from the origination and sale of single-family residential mortgages; and, 3) careful non-interest expense control.

Austerman added, "We are pleased to report that our strong growth is continuing as planned. The growth of our commercial banking relationships validates our total commitment to delivering service excellence with the importance and urgency our clients deserve." He continued, "The combination of dedicated people and the great market that exist in Evansville are the primary keys of our success."

Michael S. Sutton, Executive Vice President and Chief Lending Officer, said, "Significant loan growth has continued to have a short-term impact on net income due to the relatively high level of provision for loan losses we have chosen to set aside. Year-to-date loan growth of 22 percent (net of allowances for loan losses) combined with previously originated relationships should provide strong core earnings for years to come." He added, "Asset quality is still very good through September 30, 2003. To date, the Bank has not experienced any losses or had any loans 30 days or more past due."

Stephen C. Byelick, Jr., Chief Financial Officer, reported, "For the nine month period ending September 30, 2003, assets were $117,698,285, an increase of $30,878,760, or 35 percent, compared to September 30, 2002." He went on to say, "Net loans after allowance for loan losses increased $20,939,733, or 30 percent, for the same period, and deposits grew $27,137,817, or 35 percent, compared to the same date a year earlier." He added, "The Bank's capital increased $3,813,292 September, 2002, to September, 2003, resulting in a strong capital position of 11.14 percent, and we are classified as a well-capitalized bank."

Byelick reported, "Total revenues for the first nine months of 2003 were $4,161,832, compared to $3,232,276 for the first nine months of 2002. He continued, "This increase of $929,556 represents an increase of some 28 percent in total revenues. Net Interest Income after provision for losses was up $493,183, or 33 percent, compared to the same period in 2002. Non-interest income, driven primarily by an increase in the origination and sale of single-family mortgages and a one-time lease termination gain, improved $327,768, or 194 percent, for the same period. As a new bank experiencing rapid growth, overhead expenses are expected to increase sharply. Having said this, Bank of Evansville's non-interest expenses for the same reporting period were up only 35 percent. Net income increased $238,496 for a net profit of $244,495, compared to the net income of $5,999 the Bank reported for the first nine months of 2002. Net income for the first nine months of 2003 was 18 cents a share."

Bank of Evansville is a full service, nationally chartered bank that opened on July 2, 2001, to provide community banking for businesses and consumers in Evansville and Southwestern Indiana and trades under the OTCBB symbol: BEVN.

This news release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Such statements are based on management's current expectations and are subject to a number of risk factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. A partial list of these risk factors and uncertainties is contained in the Bank's Registration Statement on Form SB2 and the Bank's Annual Report on Form 10K-SB for the year ended December 31, 2002, which are on file with the Office of the Comptroller of the Currency.

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