German American Bancorp, Inc. (NASDAQ: GABC) (“German American” or “the company”) is a $8.4 billion-asset bank holding company headquartered in Jasper, IN with operations primarily located in Southern IN, Northern, Central, and Western KY, and recent expansion into the Columbus and Cincinnati MSAs. GABC offers its products and services through its subsidiaries: German American Bank (“the bank”) and German American Investment Services, Inc. - a retail brokerage, which has supported diverse revenue streams with noninterest income tracking in the 20% range. In 2Q24, the company sold its insurance business, German American Insurance, Inc., although it still maintains the wealth management business ($3.7 billion AUM).
GABC has a disciplined M&A strategy focused on acquiring banks ~20%-25% of its size and integrating and operating the consolidated company typically for ~2-3 years prior to executing additional acquisitions. Most recently, the company…
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