German American Bancorp, Inc. - GABC STOCK NEWS

German American Bancorp (Nasdaq: GABC) announced the appointment of Angela Curry to its board of directors effective January 1, 2023. Curry, currently the General Counsel at the University of Louisville, brings extensive legal and governance experience, having held roles in various organizations, including the Presbyterian Church (USA) Foundation. Her expertise encompasses complex litigation management, corporate governance, and strategic negotiations. The company aims to leverage her skills to enhance its operations and continue its growth trajectory in Kentucky and beyond.

German American Bancorp (GABC) reported robust Q3 2022 earnings of $24.6 million, translating to $0.83 per share, marking a 2.5% increase from Q2 2022 and a year-over-year rise of 14.4%. Key growth drivers included net interest margin expansion and effective expense management, despite declining deposits and securities value. Total loans grew by $33.6 million, with solid originations across categories. However, non-interest income saw a 7% drop due to reduced wealth management fees amidst down equity markets. The Board declared a quarterly dividend of $0.23, payable on November 20, 2022.

German American Bancorp reported strong second-quarter 2022 results, achieving net earnings of $23.7 million, or $0.81 per share, a 161% increase from Q1. However, earnings per share fell 10% year-over-year due to increased shares from a merger with Citizens Union Bancorp. Key drivers included improved net interest margins, stable loan growth, and controlled non-interest expenses, down 26% from Q1. Assets increased by $1.12 billion year-over-year but decreased from Q1 2022 due to lower deposits. A quarterly dividend of $0.23 is set for August 20.

Diane Medley has been appointed to the board of directors of German American Bancorp (Nasdaq: GABC), effective July 1, 2022. With over 40 years in public accounting, Medley co-founded Mountjoy Chilton Medley CPAs and Advisors, the largest CPA firm in the region. As the former Managing Partner, she holds extensive leadership experience and has served on several boards including the Kentucky Chamber of Commerce. Her expertise is expected to enhance the strategic direction of German American, which is committed to supporting local communities and achieving growth.

German American Bancorp (Nasdaq: GABC) has been recognized as one of the top-performing banks in the U.S. by being named to the KBW 2022 Bank Honor Roll. This accolade requires a bank to report an increase in annual earnings per share for ten consecutive years. Only 17 banks, or 5% of the eligible institutions, qualified for this honor, indicating superior performance ratios and growth rates compared to over 350 publicly traded banks. CEO Neil Dauby attributed this achievement to the bank's stability and the dedication of its team, especially during challenging times like the pandemic.

German American Bancorp (GABC) reported Q1 2022 earnings of $9.1 million, or $0.31 per share, down 58% from Q1 2021 due to acquisition-related costs and a provision for credit losses related to its recent acquisition of Citizens Union Bancorp (CUB). Total assets rose to $6.698 billion, an increase of 28% year-over-year, driven largely by the CUB acquisition. Net interest income increased 21% to $46.9 million, while operating expenses surged by 54% due to integration costs. A dividend of $0.23 per share was declared, payable May 20, 2022.

German American Bancorp (Nasdaq: GABC) reported record annual earnings of $84.1 million, or $3.17 per share for 2021, marking the 12th consecutive year of record earnings. The company achieved a 13.1% return on average shareholders’ equity. A 10% dividend increase was announced, along with a new share repurchase plan for up to 1 million shares. Total assets rose to $5.609 billion, driven by a significant increase in deposits. However, fourth-quarter net income declined by 8% year-over-year to $19.3 million due to reduced net interest income from the winding down of PPP loans.

German American Bancorp (Nasdaq: GABC) has announced the promotion of Ann M. Brown to Senior Vice President - Director of Human Capital, effective January 1, 2022. With over 27 years in the banking industry, Brown will oversee Payroll, Benefits, Talent Acquisition, and Training and Development. Her credentials include SPHR certification and experience as an Executive Coach. Additionally, the company reappointed several members to its Senior Management Group, bolstering its leadership as it continues operations through 78 banking offices in southern Indiana and Kentucky.

German American Bancorp, Inc. (Nasdaq: GABC) has successfully completed its merger with Citizens Union Bancorp of Shelbyville, effective January 1, 2022. Citizens Union shareholders will receive 0.7739 shares of German American stock and $13.44 in cash per share. This merger is expected to triple German American's market share in the greater Louisville area, now reaching approximately 2.5%. The transaction is anticipated to be accretive to earnings per share in the following year, enhancing German American's capacity to support further growth opportunities in Kentucky.