COLUMBUS, Ind. — German American Bancorp Inc. reported third quarter earnings of $14.6 million, or $0.55 per share, for the quarter ending Sept. 30.
The third quarter 2020 performance was an increase of about 12% on a per share basis, compared to third quarter 2019 net income of $13.1 million, or $0.49 per share.
The current quarterly earnings also represented an increase of about 2%, on a per share basis, as compared to second quarter 2020 net income of $14.3 million, or $0.54 per share.
Third quarter 2020 earnings showed a $1.2 million increase in non-interest income and a $2.5 million decrease in non-interest expenses, the company reported. Partially offsetting the $3.7 million positive operating earnings impact was a $1.7 million increase in the current quarter’s provision for credit losses.
End-of-period loans, as of Sept. 30, were about $3.2 billion, representing an increase of $164 million, or about 5%, from end of period loans as of Sept. 30, 2019.
This comparison includes PPP loans of $342 million, net of fees, as of Sept. 30.
For more on this story, see Wednesday’s Republic.
