German American Bancorp has completed acquisition of River Valley Bancorp, extending its footprint into the Madison area.
With the merger of River Valley into German American, River Valley Financial Bank will merge into German American’s banking subsidiary, the company announced Tuesday.
Each River Valley common shareholder of record on March 1 is entitled to receive .77 shares of German American common stock and a cash payment of $9.90 for each of their former share of River Valley common stock.
The combination of the two organizations expands German American’s footprint into Madison, where River Valley has operated for more than a century. River Valley also has five banking offices on the Indiana side of the Louisville, Kentucky, metropolitan statistical area, a market German American recent entered with a commercial loan production office.
German American also has banking offices in Columbus, Seymour and North Vernon.