German American Bancorp ( GABC ) is an Indiana-based financial holding company that owns the German American Bank. That bank has almost 100 offices throughout Indiana, Kentucky, and Ohio. With an excess of $8B in assets on the balance sheet, thisThe Investment Doctor is a financial writer, highlighting European small-caps with a 5-7 year investment horizon. He strongly believes a portfolio should consist of a mixture of dividend and growth stocks. He is the leader of the investment group European Small Cap ...

Core Viewpoint - German American Bancorp reported strong financial results for the quarter ended December 2025, with significant year-over-year growth in revenue and earnings per share (EPS) [1] Financial Performance - Revenue for the quarter was $95.99 million, reflecting a year-over-year increase of 47.3% [1] - EPS for the same period was $0.96, up from $0.78 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $93.2 million by 2.99% [1] - EPS also surpassed the consensus estimate of $0.90 by 7.06% [1] Key Metrics - Efficiency ratio was 48.6%, better than the average estimate of 51.4% from two analysts [4] - Net Interest Margin stood at 4.1%, matching the average estimate [4] - Net charge-offs to average loans were 0%, compared to the average estimate of 0.1% [4] - Total Average Interest Earning Assets reached $7.74 billion, exceeding the average estimate of $7.61 billion [4] - Total Non-interest Income was $17.31 million, slightly above the estimated $17.12 million [4] - Net interest income (FTE) was $80.26 million, higher than the average estimate of $77.7 million [4] - Service charges on deposit accounts totaled $3.96 million, compared to the average estimate of $3.93 million [4] - Net Gains on Sales of Loan were $1.11 million, exceeding the average estimate of $0.95 million [4] Stock Performance - Shares of German American Bancorp returned +0.3% over the past month, compared to a +0.2% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]

分组1 - German American Bancorp (GABC) reported quarterly earnings of $0.96 per share, exceeding the Zacks Consensus Estimate of $0.90 per share, and up from $0.78 per share a year ago, representing an earnings surprise of +7.06% [1] - The company achieved revenues of $95.99 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.99%, and compared to year-ago revenues of $65.15 million [2] - The stock has gained approximately 2.7% since the beginning of the year, outperforming the S&P 500's gain of 1% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.87 on revenues of $91.95 million, and for the current fiscal year, it is $3.64 on revenues of $379.2 million [7] - The Zacks Industry Rank for Banks - Midwest is currently in the bottom 38% of over 250 Zacks industries, indicating potential challenges for performance compared to higher-ranked industries [8]

Financial Performance - Record net income for Q4 2025 was $35.7 million, or $0.95 per share, reflecting a 1% increase from Q3 2025[3] - Annual net income for 2025 was $112.6 million, or $3.06 per share, representing an 8% year-over-year increase[3] - Adjusted net income for Q4 2025 was $35.9 million, or $0.96 per share, a 4.4% increase from Q3 2025[4] - Net income for the year ended December 31, 2025, totaled $112,635,000, or $3.06 per share, an increase of approximately 8% from $83,811,000, or $2.83 per share, for the year ended December 31, 2024[25] - Net income for the quarter ended December 31, 2025 was $35,683,000, or $0.95 per share, a 22% increase on a per share basis compared to the fourth quarter of 2024[51] - Reported net income for Q4 2025 was $35,683, compared to $35,074 in Q3 2025 and $23,211 in Q4 2024, reflecting a year-over-year increase of 54%[94] - Adjusted net income for Q4 2025 was $35,895, up from $34,444 in Q3 2025 and $23,419 in Q4 2024, indicating a 53% increase year-over-year[94] Asset and Loan Growth - Total assets as of December 31, 2025, were $8.389 billion, an increase of $2.093 billion compared to December 31, 2024, largely due to the Heartland acquisition[11] - Total loans increased by $96.8 million, or 7% on an annualized basis, during Q4 2025[12] - The Heartland acquisition added approximately $1.94 billion in total assets and $1.73 billion in total deposits[10] - Average total loans increased to $5,828,461,000 for the three months ended December 31, 2025, from $4,094,333,000 in the same period of 2024, a 42% increase[86] Income and Revenue - Net interest income for the year ended December 31, 2025, totaled $294,132,000, an increase of $103,541,000, or 54%, compared to $190,591,000 for the year ended December 31, 2024[30] - Non-interest income increased by $4,652,000, or 7%, during the year ended December 31, 2025, compared to the same period in 2024, largely due to the Heartland acquisition[35] - Total non-interest income for the year ended December 31, 2025, was $67,312,000, up from $62,660,000 in 2024, indicating an 8% growth[84] - Total adjusted revenue for the year ended 2025 was $366,189, up from $250,776 in 2024, reflecting a 46% increase[96] Expenses and Efficiency - Non-interest expense totaled $201,949,000 for the year ended December 31, 2025, an increase of $55,572,000, or 38%, compared to the same period in 2024[43] - Adjusted non-interest expense for the year ended December 31, 2025 was $194,953,000, an increase from $139,777,000 in 2024, representing a 39.5% increase[45] - The efficiency ratio improved to 48.55% for the three months ended December 31, 2025, compared to 53.38% in the same period of 2024, showing enhanced operational efficiency[86] Credit Quality - Non-performing assets totaled $29.5 million at December 31, 2025, representing 0.35% of total assets[18] - The allowance for credit losses was $77.7 million, representing 1.32% of period-end loans[15] - The provision for credit losses for the year ended December 31, 2025, was $19,425,000, significantly higher than $2,775,000 in 2024, reflecting increased risk management measures[84] - Non-performing loans to period end loans ratio was 0.50% as of December 31, 2025, compared to 0.27% in 2024, indicating a slight deterioration in asset quality[86] Dividends and Shareholder Value - The company declared a 7% increase in its quarterly cash dividend, marking the 14th consecutive year of dividend increases[8] - The tangible book value per share increased to $20.08 as of December 31, 2025, up from $18.89 in Q3 2025 and $17.93 in Q4 2024[82] - Basic earnings per share for the year ended December 31, 2025, was $3.06, an increase from $2.83 in 2024, representing an 8% growth[84] - Earnings per share (EPS) as reported for Q4 2025 was $0.95, compared to $0.94 in Q3 2025 and $0.78 in Q4 2024, representing a 22% increase year-over-year[94] - Adjusted EPS for Q4 2025 was $0.96, up from $0.92 in Q3 2025 and $0.79 in Q4 2024, marking a 22% increase year-over-year[94]

JASPER, Ind.--(BUSINESS WIRE)--German American Bancorp, Inc. (Nasdaq: GABC) ("German American†or the "Company†) reported record earnings for the three months ended December 31, 2025. The Company also announced a 7% increase in its regular quarterly cash dividend, as its Board of Directors declared a regular quarterly cash dividend of $0.31 per share, which will be payable on February 20, 2026 to shareholders of record as of February 10, 2026. For the three months ended December 31, 2025, the Company repor ...

JASPER, Ind.--(BUSINESS WIRE)--German American Bank announced today that it has been recognized as one of America's Best Regional Banks 2026 by Newsweek and Plant-A-Insights Group. The company also received recognition across its footprint as a Best Regional Bank listed in the states of Indiana, Kentucky and Ohio. Newsweek, in partnership with Plant-A Insights Group, recognized top regional banks in the United States by conducting a large-scale study based on the analysis of over 8,800 institut. ...

Financial Performance - Net income for the three months ended September 30, 2025, was $35.07 million, a 66.7% increase compared to $21.05 million for the same period in 2024[18]. - Basic earnings per share for the three months ended September 30, 2025, were $0.94, up from $0.71 in the same period of 2024, reflecting a 32.4% increase[18]. - Comprehensive income for the nine months ended September 30, 2025, was $115,036,000, up from $102,621,000 in 2024, reflecting a 12% growth[24]. - For the three months ended September 30, 2025, net income was $35,074, leading to a basic and diluted earnings per share of $0.94, compared to $21,048 and $0.71 for the same period in 2024[42]. - For the nine months ended September 30, 2025, net income was $76,952, resulting in a basic and diluted earnings per share of $2.10, compared to $60,600 and $2.04 for the same period in 2024[44]. Asset Growth - Total assets increased to $8.40 billion as of September 30, 2025, up from $6.30 billion at December 31, 2024, representing a 33.5% growth[15]. - Total deposits rose to $7.01 billion as of September 30, 2025, compared to $5.33 billion at December 31, 2024, marking a 31.5% increase[15]. - As of September 30, 2025, total loans net amount to $5,702,448, an increase from $4,080,466 as of December 31, 2024, representing a growth of approximately 39.7%[60]. - Segment assets as of September 30, 2025, totaled $8,401,248,000, compared to $6,295,910,000 at the end of 2024, representing an increase of approximately 33%[117]. Income and Expenses - Total non-interest expense for the three months ended September 30, 2025, was $49.70 million, up from $36.13 million in the same period of 2024, indicating a 37.5% increase[18]. - Salaries and employee benefits increased to $25.44 million for the three months ended September 30, 2025, compared to $19.72 million in the same period of 2024, a rise of 29.2%[18]. - Salaries and employee benefits for the nine months ended September 30, 2025, amounted to $80,122,000, compared to $61,853,000 for the same period in 2024, which is an increase of about 29%[117]. Credit Losses - Provision for credit losses increased to $17.20 million for the nine months ended September 30, 2025, compared to $2.15 million for the same period in 2024[21]. - The allowance for credit losses increased to $76,057 as of September 30, 2025, from $44,436 as of December 31, 2024, reflecting a rise of approximately 71.3%[60]. - Loans charged-off during the three months ended September 30, 2025, totaled $1,126,000, which is a significant increase from $619,000 in the same period of 2024, representing an increase of about 82%[65]. - The provision for credit loss expense for the three months ended September 30, 2025, was $700,000, compared to a provision of $625,000 for the same period in 2024, indicating an increase of approximately 12% year-over-year[65]. Securities and Investments - The total fair value of securities available-for-sale as of September 30, 2025, was $1,618,017, with an amortized cost of $1,848,461, reflecting unrealized losses of $236,243[45]. - The company reported $1,125,013 in total securities with unrealized losses as of September 30, 2025, compared to $1,356,156 as of December 31, 2024, indicating a decrease of about 17%[52]. - The company sold approximately $204.9 million in securities acquired from the Heartland acquisition during the first quarter of 2025, with no gain or loss incurred on the sale[48]. Acquisition and Goodwill - On February 1, 2025, the Company acquired Heartland BancCorp, which had total assets of approximately $1.94 billion, total loans of approximately $1.58 billion, and total deposits of approximately $1.73 billion at the time of acquisition[173]. - The total consideration transferred for the acquisition was $343.109 million, which included $23.102 million in cash and $320.007 million in equity instruments[176]. - The acquisition resulted in the recognition of $196.212 million in goodwill, primarily due to synergies and cost savings from combining operations, and $40.065 million in intangible assets related to core deposits[174]. Non-Interest Income - Non-interest income for the three months ended September 30, 2025, totaled $18.43 million, a 33.0% increase from $13.80 million in the same period of 2024[18]. - Wealth management fees for the three months ended September 30, 2025, were $4,288,000, compared to $3,580,000 in the same period of 2024, indicating a growth of about 20%[114]. - Interchange fee income for the three months ended September 30, 2025, was $5,087 thousand, an increase of 15.9% from $4,390 thousand in the same period of 2024[158]. Cash Flow and Liquidity - The company reported a net cash from operating activities of $116,647,000 for the nine months ended September 30, 2025, compared to $67,071,000 in 2024, marking a 74% increase[31]. - Cash and cash equivalents at the end of the period were $255,648,000, up from $195,555,000 at the end of September 2024, a 31% increase[31]. - Cash dividends paid were $32,454,000 for the nine months ended September 30, 2025, compared to $23,882,000 in 2024, representing a 36% increase[31]. Stock and Shareholder Information - The company reported a total of 37,493,333 shares issued and outstanding as of September 30, 2025, compared to 29,677,093 shares at December 31, 2024[15]. - The company has not repurchased any shares under the stock repurchase plan approved on January 31, 2022, which allows for the repurchase of up to 1,000,000 shares[121]. - The total unvested shares of restricted stock as of September 30, 2025, were 186,982, up from 134,553 as of December 31, 2024, indicating a 39% increase[126].

Core Insights - German American Bancorp (GABC) reported a revenue of $94.15 million for the quarter ended September 2025, reflecting a year-over-year increase of 50.9% [1] - The earnings per share (EPS) for the quarter was $0.92, up from $0.71 in the same quarter last year, indicating a positive growth trend [1] - The reported revenue exceeded the Zacks Consensus Estimate by 3.35%, while the EPS surpassed the consensus estimate by 6.98% [1] Financial Metrics - The efficiency ratio was reported at 49.3%, better than the three-analyst average estimate of 50.9% [4] - The net interest margin stood at 4.1%, compared to the average estimate of 3.9% from three analysts [4] - Net charge-offs to average loans were at 0.1%, matching the average estimate from two analysts [4] - Total average interest-earning assets were $7.54 billion, slightly below the estimated $7.67 billion [4] - Net gains on sales of loans were $1.19 million, exceeding the average estimate of $1.07 million [4] - Total non-interest income reached $18.43 million, surpassing the average estimate of $17.01 million [4] - Net interest income (FTE) was reported at $77 million, above the average estimate of $75.13 million [4] - Service charges on deposit accounts were $3.93 million, slightly above the average estimate of $3.89 million [4] - Overall net interest income was $75.73 million, compared to the average estimate of $74.09 million [4] Stock Performance - Shares of German American Bancorp have returned -1.7% over the past month, while the Zacks S&P 500 composite has increased by 2.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

分组1 - German American Bancorp (GABC) reported quarterly earnings of $0.92 per share, exceeding the Zacks Consensus Estimate of $0.86 per share, and up from $0.71 per share a year ago, representing an earnings surprise of +6.98% [1] - The company posted revenues of $94.15 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 3.35%, compared to year-ago revenues of $62.4 million [2] - Over the last four quarters, German American Bancorp has consistently surpassed consensus EPS and revenue estimates [2] 分组2 - The stock has underperformed the market, losing about 2.3% since the beginning of the year, while the S&P 500 gained 15.5% [3] - The current consensus EPS estimate for the coming quarter is $0.88 on revenues of $92.25 million, and for the current fiscal year, it is $3.38 on revenues of $354.6 million [7] - The Zacks Industry Rank for Banks - Midwest is currently in the top 26% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - Record earnings of $35.1 million, or $0.94 per share, for Q3 2025, representing a 12% increase from Q2 2025 and a 32% increase from Q3 2024[1] - Net income for Q3 2025 was $35,074,000, or $0.94 per share, a 12% increase from Q2 2025 and a 32% increase from Q3 2024[24] - Adjusted net income for Q3 2025 was $34,444,000, or $0.92 per share, compared to $32,058,000, or $0.86 per share in Q2 2025, and $21,722,000, or $0.73 per share in Q3 2024[25] - The net income for the three months ended September 30, 2025, was $35,074 thousand, an increase from $31,361 thousand in the previous quarter and $21,048 thousand in the same quarter last year, representing a year-over-year growth of 66.7%[61] - Basic earnings per share for the three months ended September 30, 2025, was $0.94, compared to $0.84 in the previous quarter and $0.71 in the same quarter last year, indicating a year-over-year increase of 32.4%[61] Revenue and Income Growth - Non-interest income rose by $1.7 million, or 10%, driven by a 3% increase in wealth management and a 6% increase in deposit fees[5] - Non-interest income for Q3 2025 totaled $18,429,000, a 10% increase from Q2 2025 and a 34% increase from Q3 2024[34] - Total interest income for the three months ended September 30, 2025, was $108,097 thousand, up from $106,435 thousand in the previous quarter, and $74,653 thousand in the same quarter last year, representing a year-over-year increase of 44.8%[61] - Net interest income for Q3 2025 was $75,725,000, a 4% increase from Q2 2025 and a 56% increase from Q3 2024[28] - Net Interest Income (FTE) for Q3 2025 was $76,998,000, an increase from $49,745,000 in Q3 2024, marking a 54.7% year-over-year growth[75] Asset and Deposit Growth - Total assets reached $8.401 billion, an increase of $121.1 million from Q2 2025 and $2.140 billion from Q3 2024, largely due to the Heartland acquisition[10] - Total deposits increased by 3.4% on an annualized basis, with non-interest bearing demand deposits rising by 9%, representing over 28% of total deposits[4] - Total deposits reached $7,014,502,000 as of September 30, 2025, compared to $6,954,686,000 in Q2 2025 and $5,271,279,000 in Q3 2024[59] Efficiency and Profitability - The efficiency ratio improved to 49.26%, indicating enhanced profitability[6] - The efficiency ratio improved to 49.26% for the three months ended September 30, 2025, compared to 51.25% in the previous quarter and 56.15% in the same quarter last year, indicating enhanced operational efficiency[63] Loan Portfolio and Credit Quality - The loan portfolio increased by $39.3 million, or 3% on an annualized basis, with agricultural loans up by 10% and retail loans up by 7%[11] - Non-performing assets totaled $23.7 million, representing 0.28% of total assets, an increase from $9.7 million or 0.15% a year earlier[17] - The allowance for credit losses was $76.1 million, representing 1.32% of period-end loans, consistent with the previous quarter[14] - The provision for credit losses in Q3 2025 was $700,000, down from $1,200,000 in Q2 2025 and up from $625,000 in Q3 2024[33] Acquisition Impact - The Heartland acquisition added approximately $1.615 billion in deposits and $1.58 billion in loans to the company[9][12] - The Heartland acquisition contributed significantly to the increases in net interest income, non-interest income, and overall performance metrics[29] Expense Management - Non-interest expense for Q3 2025 was $49,700,000, a slight increase of less than 1% from Q2 2025 and a 38% increase from Q3 2024[43] - Total non-interest expense for Q3 2025 was $49,700,000, compared to $49,517,000 in Q2 2025 and $36,126,000 in Q3 2024[46] - Salaries and employee benefits decreased by $1,194,000, or 4%, in Q3 2025 compared to Q2 2025, but increased by $5,726,000, or 29%, compared to Q3 2024[47] - Other operating expenses increased by $854,000, or 12%, in Q3 2025 compared to Q2 2025, and rose by $2,513,000, or 48%, compared to Q3 2024[51] Operational Metrics - The annualized return on average assets for the three months ended September 30, 2025, was 1.68%, up from 1.49% in the previous quarter and 1.35% in the same quarter last year[63] - Average total loans for the three months ended September 30, 2025, were $5,766,875 thousand, compared to $5,678,929 thousand in the previous quarter and $4,052,673 thousand in the same quarter last year, reflecting a year-over-year increase of 42.4%[63] Other Financial Highlights - The tangible book value per share increased to $18.89 in Q3 2025 from $17.40 in Q2 2025, while it was $18.90 in Q3 2024[59] - The company operates 94 banking offices across Indiana, Kentucky, and Ohio, with a focus on expanding its Heartland Bank brand in the Greater Cincinnati area[52] - The company reported a gain on debt extinguishment of $975,000 in Q3 2025, contributing positively to the financial results[73]