Jasper-based German American Bancorp Inc. (Nasdaq: GABC) is reporting record net income of $30.1 million in 2015, up from $28.3 million in 2014. It’s the sixth consecutive year the company has achieved record earnings.
German American is also reporting net income of $7.7 million in fourth quarter 2015, up from $7.6 million during the same period in 2014.
"The relative level of employment within our markets in 2015 remained among the strongest in the state, and compared favorably to national statistics," said CEO Mark Schroeder. "A testament to the local business environment, this combination of economic strength and stability within our markets in 2015 afforded us the opportunity, as a banking organization, to provide our clients with a wide array of financial products and services. Most notable was the continued growth, over the past year, within our loan portfolio, which was accomplished while still maintaining the level of superb asset quality that has been a consistent contributor to German American’s strong financial performance throughout the course of the past decade."
Schroeder thanked the company’s clients, staff and shareholders for contributing to the company’s continued success.