German American Bancorp reports third quarter earnings growth and prepares for Heartland BancCorp merger

German American Bancorp, Inc. reported third quarter 2024 earnings of $21 million, or $0.71 per share, marking a 3% increase from the previous quarter. The company saw growth in net interest income and maintained strong credit metrics despite a seasonal decline in total deposits. Total loans rose by $25.1 million, or 2.5%, with most categories experiencing growth, except for residential mortgages. Non-performing assets remained low at 0.15% of total assets, and the company declared a quarterly cash dividend of $0.27 per share, payable on November 20, 2024. The company’s total assets increased to $6.26 billion, up $44 million from the previous quarter. German American is also preparing for a merger with Heartland BancCorp, which is expected to enhance its market presence in Ohio.