Indian Village Bancorp, Inc. to Repurchase Common Stock

Business Wire, Oct 19, 2000

Business Editors

GNADENHUTTEN, Ohio--(BUSINESS WIRE)--Oct. 19, 2000

Indian Village Bancorp, Inc. (OTCBB:IDVB), the holding company for Indian Village Community Bank, Gnadenhutten, Ohio, announced today that its Board of Directors has approved the Company's second stock repurchase program for the repurchase of up to 21,165 shares of the Company's common stock, or up to 5% of the Company's outstanding shares, during the next twelve months.

The repurchases generally would be conducted through the open market purchases subject to market conditions, although repurchases may be conducted through unsolicited negotiated transactions.

The Company also announced that as of June 6, 2000, it had completed its previously announced first stock repurchase program. The Company repurchased 5%, or 22,429 shares, of its outstanding common stock at an average price of $12.25 per share.

The Company is a unitary savings and loan holding company for Indian Village Community Bank, and Ohio-chartered savings bank that operates from its main office in Gnadenhutten and a branch office in New Philadelphia.