Jasper-based German American Bank reported Monday its net income for the quarter ended September 30, 2023, totaled $21,451,000, or $0.73 per share, a decline of 3% on a per share basis, compared with the second quarter 2023.
Earnings declined 12% on a per share basis compared with the third quarter 2022, the bank said.
The decline in net income in the third quarter of 2023 compared to both periods was largely driven by a reduced level of average earning assets and net interest margin resulting in a decline in net interest income, the bank said.
