German American completes Heartland BancCorp merger; issues ~7.74M shares and assumes $24.3M sub debt

GERMAN AMERICAN BANCORP, INC.

Merger closed Feb 1, 2025; Heartland shareholders receive 3.90 GABC shares per share.
Combined company has 94 branches in IN, KY, OH; pro forma assets ~$8.3B as of Dec 31, 2024.
G. Scott McComb (ex-Heartland CEO) and Ronnie R. Stokes appointed to GABC board.
Management expects deal to be accretive to EPS within 12 months; tangible book value earn back period relatively quick.
GABC assumed $24.3M of Heartland 5.0% Fixed-to-Floating Subordinated Notes due 2030.

item 2.01 item 2.03 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Ronnie R. Stokes

Director

GABC · GERMAN AMERICAN BANCORP, INC.

Effective: 2025-02-01
Filed: February 3, 2025, 6:59 PM ET

G. Scott McComb, Heartland’s Chairman, President and Chief Executive Officer immediately prior to the completion of the Merger, and Ronnie R. Stokes, another member of Heartland’s board of directors immediately prior to the completion of the Merger, have been appointed to the Company’s Board of Directors.

Appointed

G. Scott McComb

Director

GABC · GERMAN AMERICAN BANCORP, INC.

Effective: 2025-02-01
Filed: February 3, 2025, 6:59 PM ET

G. Scott McComb, Heartland’s Chairman, President and Chief Executive Officer immediately prior to the completion of the Merger, and Ronnie R. Stokes, another member of Heartland’s board of directors immediately prior to the completion of the Merger, have been appointed to the Company’s Board of Directors.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Ronnie R. Stokes was appointed as Director at GERMAN AMERICAN BANCORP, INC..

Action: appointed
Role: Director

Exact text from the filing

G. Scott McComb, Heartland’s Chairman, President and Chief Executive Officer immediately prior to the completion of the Merger, and Ronnie R. Stokes, another member of Heartland’s board of directors immediately prior to the completion of the Merger, have been appointed to the Company’s Board of Directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

G. Scott McComb was appointed as Director at GERMAN AMERICAN BANCORP, INC..

Action: appointed
Role: Director

Exact text from the filing

G. Scott McComb, Heartland’s Chairman, President and Chief Executive Officer immediately prior to the completion of the Merger, and Ronnie R. Stokes, another member of Heartland’s board of directors immediately prior to the completion of the Merger, have been appointed to the Company’s Board of Directors.

View on SEC.gov

GERMAN AMERICAN BANCORP, INC. filing history →

Source: SEC EDGAR

accession 0001104659-25-008508

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