This Agreement, made and dated as of April 10, 2001, by and between

Logansport Savings Bank, FSB, a federal savings bank ("Employer"), and David G.

Wihebrink, a resident of Cass County, Indiana ("Employee").





                               W I T N E S S E T H

                               - - - - - - - - - -





         WHEREAS, Employee is employed by Employer as its President and has made

valuable contributions to the profitability and financial strength of Employer;



         WHEREAS, Employer desires to encourage Employee to continue to make

valuable contributions to Employer's business operations and not to seek or

accept employment elsewhere;



         WHEREAS, Employee desires to be assured of a secure minimum

compensation from Employer for his services over a defined term;



         WHEREAS, Employer desires to assure the continued services of Employee

on behalf of Employer on an objective and impartial basis and without

distraction or conflict of interest in the event of an attempt by any person to

obtain control of Employer or Logansport Financial Corp. (the "Holding

Company"), the Indiana corporation which owns all of the issued and outstanding

capital stock of Employer;



         WHEREAS, Employer recognizes that when faced with a proposal for a

change of control of Employer or the Holding Company, Employee will have a

significant role in helping the Boards of Directors assess the options and

advising the Boards of Directors on what is in the best interests of Employer,

the Holding Company, and its shareholders, and it is necessary for Employee to

be able to provide this advice and counsel without being influenced by the

uncertainties of his own situation;



         WHEREAS, Employer desires to provide fair and reasonable benefits to

Employee on the terms and subject to the conditions set forth in this Agreement;



         WHEREAS, Employer desires reasonable protection of its confidential

business and customer information which it has developed over the years at

substantial expense and assurance that Employee will not compete with Employer

for a reasonable period of time after termination of his employment with

Employer, except as otherwise provided herein.



         NOW, THEREFORE, in consideration of these premises, the mutual

covenants and undertakings herein contained and the continued employment of

Employee by Employer as its President, Employer and Employee, each intending to

be legally bound, covenant and agree as follows:













          1. Upon the terms and subject to the conditions set forth in this

Agreement, Employer employs Employee as Employer's President, and Employee

accepts such employment.



          2. Employee agrees to serve as Employer's President and to perform

such duties in that office as may reasonably be assigned to him by Employer's

Board of Directors; provided, however, that such duties shall be performed in or

from the offices of Employer currently located at Logansport, Indiana, and shall

be of the same character as those previously performed by Employee and generally

associated with the office held by Employee. Employee shall not be required to

be absent from the location of the principal executive offices of Employer on

travel status or otherwise more than 45 days in any calendar year. Employer

shall not, without the written consent of Employee, relocate or transfer

Employee to a location more than 30 miles from Employer's primary office.

Employee shall render services to Employer as President in substantially the

same manner and to substantially the same extent as Employee rendered his

services to Employer before the date hereof. While employed by Employer,

Employee shall devote substantially all his business time and efforts to

Employer's business during regular business hours and shall not engage in any

other related business. Employer shall nominate the Employee to successive terms

as a member of Employer's Board of Directors and shall use its best efforts to

elect and re-elect Employee as a member of such Board.



          3. The term of this Agreement shall begin on the date hereof (the

"Effective Date") and shall end on the date which is three years following such

date; provided, however, that such term shall be extended automatically for an

additional year on each anniversary of the Effective Date if Employer's Board of

Directors determines by resolution that the performance of the Employee has met

the Board's requirements and standards and that this Agreement should be

extended prior to such anniversary of the Effective Date, unless either party

hereto gives written notice to the other party not to so extend within ninety

(90) days prior to such anniversary, in which case no further automatic

extension shall occur and the term of this Agreement shall end two years

subsequent to the anniversary as of which the notice not to extend for an

additional year is given (such term, including any extension thereof shall

herein be referred to as the "Term").



          4. Employee shall receive an annual salary of $150,000 ("Base

Compensation") payable at regular intervals in accordance with Employer's normal

payroll practices now or hereafter in effect, part of which may be deferred

pursuant to the agreement of Employer and Employee. Employer may consider and

declare from time to time increases in the salary it pays Employee and thereby

increases in his Base Compensation. Prior to a Change of Control, Employer may

also declare decreases in the salary it pays Employee if the operating results

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