PRESS RELEASE Contact: Dottye Robeson



FOR IMMEDIATE RELEASE
Chief Financial Officer
Phone: 219-722-3855
Fax: 219-722-3857
Email: dottyer@logansportsavings.com




                      LOGANSPORT FINANCIAL CORP. ANNOUNCES
                            STOCK REPURCHASE PROGRAM

Logansport,  Indiana (April 24, 2001) Logansport  Financial  Corp.,(NASDAQ Small
Cap Market,  LOGN),  an Indiana  corporation  which is the  holding  company for
Logansport  Savings Bank, FSB, a federal savings bank,  announced today that the
Board of Directors has approved the  repurchase,  from time to time, on the open
or  private  market of up to 5% of the  Company's  outstanding  shares of common
stock, without par value ("Common Stock"), or 54,000 such shares. Such purchases
will  be  made  subject  to  market  conditions  in the  open  market  or  block
transactions at prices deemed  appropriate by management.  Repurchases may begin
as early as April 30, 2001.

According  to David G.  Wihebrink,  President of the  Corporation,  the Board of
Directors  believes  the  repurchase  program  is in the best  interests  of the
Corporation and its shareholders. The open or private market purchases will have
the effect of enhancing  the growth in earnings  per share of the  Corporation's
remaining outstanding shares.