Glancy Binkow & Goldberg LLP Announces Investigation of Indiana Community Bancorp

Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Indiana Community Bancorp. (“Indiana Community” or the “Company”) (NASDAQ:INCB) related to the proposed acquisition of the Company by Old National Bancorp. Under the terms of the transaction, shareholders of Indiana Community will receive 1.90 shares of Old National Bancorp common stock for each share of Indiana Community common stock they own. The transaction is valued at approximately $79.2 million.

The investigation concerns whether the Board of Directors of Indiana Community breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. Indiana Community stock traded as high as $17.50 on July 28, 2011. Further, at least one analyst has set a target price for the Company’s stock at $19.00.

If you are a shareholder of Indiana Community, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Indiana Community Bancorp (MM) (NASDAQ:INCB)
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