Investor Relations For Immediate Release For: Bank of Evansville, N.A. Contact: Thomas L. Austerman Phone: (812) 962-2265 Michael S. Sutton Fax: (812) 962-1383 Stephen C. Byelick BANK OF EVANSVILLE, N.A. ANNOUNCES COMPLETION OF SUCCESSFUL RIGHTS OFFERING Evansville, Indiana, May 27, 2003 - Bank of Evansville, N.A. (OTCBB: BEVN) Bank of Evansville, N.A. announced today the successful completion of its previously announced Rights Offering. Bank of Evansville raised a net (after Offering expenses) of $3,565,532 in proceeds through the issuance of 335,334 additional shares of its common stock at a price of $10.75 per share. With the completion of the Offering, Bank of Evansville's common stock issued increased by 29 percent to 1,499,042 shares. Total capital for the Bank after the completion increased to just over $13,068,421. Bank of Evansville's President and CEO Thomas L. Austerman said, "We are very pleased with the results of the Shareholder Rights Offering. We are especially delighted with the fact that every shareholder was able to purchase the number of shares they requested." He went on to say, "The primary benefit of the new capital is that it will assist us in meeting our near-term growth objectives. And, since our legal lending limit is a function of tier one capital, it will increase our ability to serve a larger segment of the Evansville business community." He concluded by saying, "I think the success of the Offering is indicative of the warm reception received by the Bank since we first opened our St. Joseph Avenue and Vogel Road locations." Bank of Evansville is the locally organized and owned, independent, nationally-chartered bank that opened two offices for business in July, 2001, to provide community banking for businesses and consumers in Evansville and Southwestern Indiana. 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.