Profit rises for German American Bank
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Jasper-based German American Bancorp Inc. is reporting second quarter net income of $22.1 million, up from $20.8 million during the same period last year. CEO Neil Dauby said in Monday’s earnings report the results represent a “solid second quarter operating performance.”
Among the highlights from the second quarter, the parent of German American Bank reported a 2% increase in deposits and a 6% increase in total loans, with all categories of loans showing growth.
“German American remains extremely well positioned with solid liquidity, strong capital and a diverse core deposit base which speaks to the strength and resilience of our company,” Dauby said in written remarks.
Also during the quarter, Dauby succeeded former CEO Mark Schroeder as chairman of the board. Schroeder retired as CEO last year, but remained on the board through the end of his term.
The bank said its overall assets totaled nearly $6.1 billion as of June 30, up more than $56 million from the previous quarter, but down more than $418 million from the same period in 2022.
You can connect to the full earnings report by clicking here.
German American Bank operates 76 banking offices in 20 southern Indiana counties and 14 counties in Kentucky.