German American completes merger with Heartland BancCorp; assets ~$8.3B

GERMAN AMERICAN BANCORP, INC.

Merger effective Feb 1, 2025; Heartland shareholders get 3.90 GABC shares per share; total assets ~$8.3B as of Dec 31, 2024.
Options cancelled for cash payment of $154.60 per share (corrected amount) less exercise price and withholding taxes.
Combined bank has 94 branches across Indiana, Kentucky, Ohio; expected to be EPS accretive with quick TBV earnback.
G. Scott McComb and Ronnie R. Stokes appointed to German American Bancorp and Bank boards effective Feb 1, 2025.

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