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Jun 30, 2021
German American Q2 2021 Earnings Report
Reported strong second quarter performance driven by balance sheet growth, improved net interest income, reduced provision for credit losses, increased non-interest income, and disciplined expense control.
Key Takeaways
German American Bancorp, Inc. reported a strong second quarter with earnings of $23.8 million, or $0.90 per share. This represents a significant increase compared to both the previous quarter and the same period last year, driven by growth in loans and deposits, improved net interest income, and a solid increase in core non-interest income.
Second quarter earnings were $23.8 million, or $0.90 per share, a 22% increase from the first quarter and a 67% increase year-over-year.
Total assets reached $5.349 billion, a 10% increase compared to both March 31, 2021 and June 30, 2020.
Core loan portfolio, excluding PPP loans, increased by 5% on an annualized basis, marking the first quarter of loan growth since the pandemic's onset.
A $5.0 million reversal of the provision for credit losses was recorded due to improved loan portfolio quality.
Forward Guidance
While new developments related to the pandemic continue to cause uncertainty, the company is hopeful that improvements in commercial and social activities will remain steady and looks forward with optimism to continued economic growth in the coming months.
Positive Outlook
- Improvements in commercial activities
- Improvements in social activities
- Continued economic growth
- Solid first quarter earnings
- Exceptionally strong performance in the second quarter
Challenges Ahead
- New developments related to the pandemic continue to cause uncertainty
- Uncertainty for business customers
- Uncertainty for retail customers
- Impact of PPP loan activity
- Economic impacts of the COVID-19 pandemic
Historical Earnings Impact
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Avg. Return Before/After Earnings
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