<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2015-12-31</periodOfReport>

    <issuer>
        <issuerCik>0000855574</issuerCik>
        <issuerName>AMERIANA BANCORP</issuerName>
        <issuerTradingSymbol>ASBI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001598798</rptOwnerCik>
            <rptOwnerName>Gamble Janelle C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2118 BUNDY AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW CASTLE</rptOwnerCity>
            <rptOwnerState>IN</rptOwnerState>
            <rptOwnerZipCode>47362</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>1</isOfficer>
            <officerTitle>Sr. VP &amp; Chief Risk Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2015-12-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>630.1169</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0000</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0.0000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By 401(k) Plan</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Pursuant to the Agreement and Plan of Reorganization and Merger dated as of June 26, 2015 by and between First Merchants Corporation and Ameriana Bancorp (the &quot;Merger Agreement&quot;), at the effective time of the merger each share of Ameriana Bancorp common stock (including fractional shares) was exchanged for 0.9037 shares of First Merchants Corporation common stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Nicole Weaver, Attorney-in-Fact</signatureName>
        <signatureDate>2015-12-31</signatureDate>
    </ownerSignature>
</ownershipDocument>
