Record Profit Continues For German American

Posted: Updated:
(Image courtesy of German American Bancorp) (Image courtesy of German American Bancorp)
JASPER -

Jasper-based German American Bancorp Inc. (Nasdaq: GABC) is reporting record full-year net income of $35.2 million in 2016, up from $30.1 million the previous year. The earnings represent the seventh consecutive year the bank has hit a record.

The parent of German American Bank is also reporting fourth quarter net income of $10.1 million, down slightly from $10.2 million during the same period in 2015. Chief Executive Officer Mark Schroeder says a combination of organic growth and merger-related expansion contributed to the strong year.

"The acquisition of River Valley Bancorp in March provided an opportunity to enter the vibrant Southeast Indiana area. The inclusion of River Valley positions us very well for future growth within this market area," said Schroeder. "We have already seen significant community banking opportunities within these markets, and we fully expect these new markets for German American will provide significant growth potential going forward."

Schroeder says the bank successfully integrated the merger of River Valley Bancorp in 2016 and, outside of the merger, German American was able to generate about $118 million in year-over-year loan growth.

  • Perspectives

    • Creating the Work Spaces that Draw Talent to Indianapolis

      The future economy will be driven by data, powered by robotics and heavily invested in the building blocks of nature – biotech and genetic engineering. That’s true of the economy nationwide, and it’s especially true here in Indianapolis, where dominant pharmaceutical and biotech companies are putting us at the cutting edge of the science-based economy. It all sounds larger than life. But the facilities that will house these industries will always be...

    More

Events



  • Most Popular Stories

    • Elizabeth Head is the head of school at ISI.

      International School Launches Capital Campaign

      The International School of Indiana has publicly launched a capital campaign to establish a unified campus in Indianapolis. As part of the ONE ISI campaign, the school is looking to raise $6.5 million to build a new school building for pre-elementary and elementary students at the site of its middle and high schools. The public launch follows a 10-month silent phase of the campaign, during which ISI raised $5 million from more than two dozen donors. Currently, ISI's operations are...

    • Money magazine judges Fishers as 3rd best place to live in the U.S.

      Fishers Makes Top 10 List of 'Best Places to Live'

      Three communities in Indiana made the top 100 list of best places to live in the country, but only one made the top 10. Fishers was judged by Money magazine as the third best place to live in the United States, behind Clarksville, Tennessee and Round Rock, Texas.

    • Lt. Governor Suzanne Crouch will be on hand for the announcement.

      Jobs Announcement Set for Indy

      City and state officials will Wednesday make a jobs announcement in downtown Indianapolis. Few details are available, however the Indiana Economic Development Corp. says leaders from an Indianapolis-based startup will be involved.

    • (photo courtesy of Dickinson Fleet Services)

      Dickinson Fleet Services Expands; Grows Talent Pool

      Indianapolis-based Dickinson Fleet Services is expanding its truck maintenance reach with the purchase of A1 Diesel Service of Hendersonville, Tennessee. Dickinson says this is its ninth acquisition since 2017 and the third in 2019. 

    • Photo courtesy of Bristol Parks

      Startup Plans to Add 250 Jobs By 2021

      A metal forming startup is seeking to use a facility in Bristol that has been empty since 2017 for a major manufacturing operation. The Elkhart Truth reports Brinco will invest $52 million in the project and add 250 jobs.