---
schema_version: "secwatch.filing_event.v1"
accession: "0000714395-24-000034"
form_type: "8-K"
ticker: "GABC"
cik: "0000714395"
company_name: "GERMAN AMERICAN BANCORP, INC."
filed_at: "2024-06-03T23:59:59+00:00"
generated_at: "2026-06-01T06:58:16.505068+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# German American sells insurance unit to Hilb Group for $40M cash; after-tax gain ~$27M

## Summary
- All-cash purchase price $40M; after-tax gain approx $27M; effective June 1, 2024.
- Price equals ~4x 2023 revenue ($9.6M) and ~24x 2023 after-tax earnings ($1.7M).
- All employees retained; GAI brand continues as 'German American Insurance – A Hilb Group Company' under same president.
- Non-compete for 5 years; referral relationship provides ongoing customer referral revenue to German American Bank.
- Hilb Group is backed by The Carlyle Group; Piper Sandler & Co. and Dentons Bingham Greenebaum advised German American.

## SEC filing metadata
- accession: 0000714395-24-000034
- form_type: 8-K
- ticker: GABC
- cik: 0000714395
- company_name: GERMAN AMERICAN BANCORP, INC.
- filed_at: 2024-06-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/714395/000071439524000034/0000714395-24-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/714395/000071439524000034/gabc-20240603.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000714395-24-000034
- JSON: https://secwatch.observer/filing/0000714395-24-000034.json
- Plain text: https://secwatch.observer/filing/0000714395-24-000034.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.