German American Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 31, 2023 at 03:58 pm
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German American Bancorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 48.26 million compared to USD 49.6 million a year ago. Net income was USD 22.12 million compared to USD 23.75 million a year ago. Basic earnings per share from continuing operations was USD 0.75 compared to USD 0.81 a year ago. Diluted earnings per share from continuing operations was USD 0.75 compared to USD 0.81 a year ago.
For the six months, net interest income was USD 97.27 million compared to USD 96.51 million a year ago. Net income was USD 42.93 million compared to USD 32.81 million a year ago. Basic earnings per share from continuing operations was USD 1.45 compared to USD 1.11 a year ago. Diluted earnings per share from continuing operations was USD 1.45 compared to USD 1.11 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.