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Jun 30, 2024
German American Q2 2024 Earnings Report
German American reported strong earnings, driven by a stabilized net interest margin, solid loan and deposit growth, strong credit metrics, growth in non-interest income, and controlled non-interest expense.
Key Takeaways
German American Bancorp, Inc. reported second quarter earnings of $20.5 million, or $0.69 per share, reflecting an increase of $1.5 million from the previous quarter. The company sold its insurance subsidiary for $40.0 million and restructured its securities portfolio, impacting net income by $0.3 million.
Net income for the second quarter of 2024 totaled $20.53 million, or $0.69 per share.
Net interest margin was relatively stable at 3.34%.
Total loans increased by $65 million, or approximately 7% on an annualized basis.
Total deposits increased by $94 million, or approximately 7% on an annualized basis.
Forward Guidance
The Company expects the securities restructuring to result in an improved yield of approximately 2%, on a tax-equivalent basis, on the securities sold compared with the reinvestment of the proceeds into the securities portfolio.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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