German American Bancorp posts $2.91 EPS for 2023, raises dividend 8% to $0.27

GERMAN AMERICAN BANCORP, INC.

2023-FY EPS reported $2.91 revenue$316,917,000

Net income $85.9M for 2023 vs $81.8M in 2022; EPS $2.91 vs $2.78 (5% per-share growth).
Q4 net income $21.5M ($0.73 EPS) flat vs Q3; net interest margin compressed to 3.43% from 3.57%.
Total loans grew $84M (9% annualized) in Q4; deposits up $117M (2% linked quarter).
Non-performing assets fell to $9.2M (0.15% of assets) from $12.4M; no provision for credit losses in Q4.
Board declared $0.27 quarterly cash dividend, an 8% increase, payable Feb 20, 2024; 12th consecutive year of increases.

item 2.02 item 5.05 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GERMAN AMERICAN BANCORP, INC. reported quarter and year ended December 31, 2023 results: net income $85.9 million, or $2.91 per share, for the year ended December 31, 2023; fourth quarter 2023 net income of $21.5 million.

Period: quarter and year ended December 31, 2023
Net income: $85.9 million, or $2.91 per share, for the year ended December 31, 2023; fourth quarter 2023 net income of $21.5 million
Result: reported results

Exact text from the filing

On January 29, 2024, German American Bancorp, Inc. (the “Company”) issued a press release announcing its results for the quarter and year ended December 31, 2023, and making other disclosures.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

GERMAN AMERICAN BANCORP, INC.: Amended and restated Code of Business Conduct to communicate standards for ethical conduct and formalize policies on bribery, corruption, etc (effective 2024-01-25).

Change: code of ethics
Effective: 2024-01-25

Exact text from the filing

On and effective January 25, 2024, the Company’s Board of Directors (the “Board”), upon the recommendation of its Governance/Nominating Committee, approved an amended and restated Code of Business Conduct for the Company (the “Code”).

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Source: SEC EDGAR

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