German American Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 29, 2024 at 04:30 pm EST
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German American Bancorp, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 45.61 million compared to USD 52.38 million a year ago. Net income was USD 21.51 million compared to USD 24.42 million a year ago. Basic earnings per share from continuing operations was USD 0.73 compared to USD 0.83 a year ago. Diluted earnings per share from continuing operations was USD 0.73 compared to USD 0.83 a year ago.
For the full year, net interest income was USD 190.43 million compared to USD 200.58 million a year ago. Net income was USD 85.89 million compared to USD 81.83 million a year ago. Basic earnings per share from continuing operations was USD 2.91 compared to USD 2.78 a year ago. Diluted earnings per share from continuing operations was USD 2.91 compared to USD 2.78 a year ago.
German American Bancorp, Inc. is a financial holding company. The Company, through its banking subsidiary German American Bank, operates around 75 banking offices in 20 contiguous southern Indiana counties and 14 counties in Kentucky. Its segments include core banking, wealth management services, and insurance. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Companyâs local markets. The core banking segment also involves the sale of residential mortgage loans in the secondary market. The wealth management services segment involves providing trust, investment advisory, brokerage and retirement planning services to customers. The insurance segment offers a full range of personal and corporate property and casualty insurance products, primarily in the Company's banking subsidiary's local markets.
GERMAN AMERICAN BANCORP, INC. 
