GABC - Mergers and acquisitions

JASPER, Ind., June 03, 2024 (GLOBE NEWSWIRE) -- German American Bancorp, Inc. (NASDAQ:GABC) today announced and closed the sale of the assets of its wholly-owned subsidiary German American Insurance (GAI) to Hilb Group, an industry-leading insurance broker. The all-cash transaction is for $40 million, and creates a significant after-tax gain, net of transaction costs, of approximately $27 million. The purchase price represents approximately four times 2023 GAI revenues and approximately 24 times 2023 GAI after-tax earnings. "Our decision to partner with Hilb Group for this transaction ensures the continued access to the best insurance products and services for our customers and provides a

JASPER, Ind., Jan. 30, 2023 (GLOBE NEWSWIRE) -- German American Bancorp, Inc. (NASDAQ:GABC) reported strong annual earnings of $81.8 million, or $2.78 per share, for the year end December 31, 2022, representing the second highest level of annual earnings in the Company's history. This level of reported annual earnings resulted in a 13.4% return on average shareholders' equity, marking the 18th consecutive fiscal year in which the Company has delivered a double-digit return on shareholders' equity. The Company also announced the declaration of a 9% increase in its quarterly cash dividend, marking the 11th consecutive year of increased cash dividends. The Company's 2022 reported annual earn

JASPER, Ind., Oct. 31, 2022 (GLOBE NEWSWIRE) -- German American Bancorp, Inc. (NASDAQ:GABC) reported strong operating performance for the third quarter ended September 30, 2022, with earnings of $24.6 million, resulting in the Company's second highest level of historical earnings per share at $0.83 per share. This level of quarterly earnings represented an increase of $0.9 million, or approximately 2.5% on a per share basis, from its 2022 second quarter earnings of $23.7 million, or $0.81 per share. On a year-over-year basis, the current quarterly earnings represented an increase of $3.1 million, or approximately 2.5% on a per share basis, from its 2021 third quarter earnings of $21.5 mill

JASPER, Ind., July 25, 2022 (GLOBE NEWSWIRE) -- German American Bancorp, Inc. (NASDAQ:GABC) reported strong operating performance in the second quarter of 2022, with earnings of $23.7 million, resulting in our Company's second highest level of reported earnings per share at $0.81 per share. This level of quarterly earnings represented an increase of $14.7 million, or approximately 161% on a per share basis, from 2022 first quarter earnings of $9.1 million, or $0.31 per share. The first quarter of 2022 was impacted by one-time related merger and acquisition costs as a result of the January 1, 2022 merger with Citizens Union Bancorp of Shelbyville, Inc. ("CUB"). On a year-over-year basis, th

JASPER, Ind., April 25, 2022 (GLOBE NEWSWIRE) -- German American Bancorp, Inc. (NASDAQ:GABC) reported first quarter earnings of $9.1 million, or $0.31 per share. The current quarterly earnings include the results of Citizens Union Bancorp of Shelbyville, Inc. ("CUB"), which, as previously reported, was acquired by German American on January 1, 2022. The first quarter of 2022 included one-time merger and acquisition costs of approximately $11.7 million and "Day 1" provision under the current expected credit loss ("CECL") model for CUB of $6.3 million (total impact of $13.6 million, or $0.46 per share, on an after-tax basis). As a result, quarterly earnings declined by approximately $10.5 mi