German American Bancorp to acquire Heartland BancCorp in ~$330M all-stock deal

GERMAN AMERICAN BANCORP, INC.

Heartland shareholders get 3.90 GABC shares per HLAN share; aggregate value ~$330.2M.
Heartland had ~$1.9B assets, $1.5B loans, $1.6B deposits as of June 30, 2024.
Combined entity to have >$8.1B assets and ~95 branches across IN, KY, OH.
Transaction unanimously approved; expected close in Q1 2025 pending regulatory and shareholder approvals.
G. Scott McComb and Ronnie Stokes to join German American boards post-closing.

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