The Republic Masthead

German American posts rise in net income for quarter


Follow The Republic:


German American Bancorp, based in Jasper, reported net income of $6.3 million in first-quarter results, which was an increase of about 9 percent above its 2013 first-quarter results.

In 2013’s first quarter, the company reported net income of $5.8 million.

Net income per share in 2014 increased by about 4 percent to 48 cents compared to 46 cents in the same period in 2013.

The 2014 first-quarter earnings were affected by a $2 million, or about 12 percent, increase in net interest income, primarily from growth within the company’s loan portfolio.

Total loans, exclusive of loans held for sale, increased by $171 million, or about 14 percent compared to 2013’s first quarter.

The company also reported a $1 million, or 23 percent increase, in non-interest income. This was driven by a $772,000 increase in insurance revenue, a $193,000 increase in investment services revenue and a $106,000 increase in deposit service charges in the first quarter of 2014.

The company’s total non-interest expenses increased by about $1.6 million during the first quarter of 2014, compared to the first quarter last year. This increase was affected by including the United Commerce Bancorp operation that was acquired by German American Bancorp on Oct. 1, the new financial center in Columbus and the rollout of the company’s new digital banking systems as part of the operating expenses for the first quarter.

Mark A. Schroeder, German American’s chairman and chief executive officer, said the company is pleased with the strong start in financial performance and remains “very optimistic regarding the level of loan demand and economic strength we’re seeing throughout our footprint.”

Don't settle for a preview.
Subscribe today to see the full story!

  • Hybrid
  • $11/month
  • Sat / Sun Delivery
  • Sat / Sun Coupons
  • Weekend Magazines
  • Full Digital Access
  • E-Edition Access
  • Buy Now
  • Premium
  • $16/month
  • 7-Day Print Delivery
  • All coupons
  • Special Magazines
  • Full Digital Access
  • E-Edition Access
  • Buy Now
  • Digital Only
  • $11/month
  • -
  • -
  • -
  • Full Digital Access
  • E-Edition Access
  • Buy Now

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear. If your comments consistently or intentionally make this site a less civil and enjoyable place to be, your comments will be excluded from it.
View our commenting guidelines and FAQ's here.

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.