Profile: German American Bancorp Inc (GABC.OQ)
27 Jul 2016
German American Bancorp, Inc., incorporated on October 29, 1982, is a bank holding company. The Company's operating segments include core banking, trust and investment advisory services, and insurance operations. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Company's local markets. The core banking segment also involves the sale of residential mortgage loans in the secondary market. The trust and investment advisory services segment involves providing trust, investment advisory and brokerage services to customers. The insurance segment offers a range of personal and corporate property and casualty insurance products in its banking subsidiary's local markets. The Company's lines of business include retail and commercial banking, comprehensive financial planning, full service brokerage and trust administration, and a range of personal and corporate insurance products.
The Company offers a range of loans, including commercial and industrial loans and leases, commercial real estate loans, agricultural loans, home equity and consumer loans and residential mortgage loans. The Company's total loans amount to approximately $1,549.91 million.
The Company's securities portfolio primarily consists of money market securities, uncollateralized federal agency securities, municipal obligations of state and political subdivisions, and mortgage-backed securities issued by the United States Government agencies. Its money market securities include federal funds sold, interest-bearing balances with banks and other short-term investments. The Company's total securities amount to approximately $631.8 million.
Sources of Funds
The Company's primary source of funding is its base of core customer deposits. Core deposits consist of demand deposits, savings, interest-bearing checking, money market accounts, and certificates of deposit of less than $100,000. Other sources of funds are certificates of deposit of $100,000 or more; brokered deposits; overnight borrowings from other financial institutions, and securities sold under agreement to repurchase. The Company's total deposits amount to approximately $1,826.38 million.
The Company through its banking subsidiary, German American Bancorp, operates over 50 banking offices in approximately 20 contiguous southern Indiana counties and a northern Kentucky county. The Company also owns a trust, brokerage and financial planning subsidiary, German American Financial Advisors & Trust Company, and a property and casualty insurance agency, German American Insurance Inc. The core banking segment is managed by German American Bancorp. The trust and investment advisory services segment's revenues consist of primarily of fees generated by providing trust investment advisory and brokerage services to its customers through German American Financial Advisors & Trust Company. The insurance segment consists of German American Insurance Inc., which provides a line of personal and corporate insurance products.
German American Bancorp Inc
711 Main St,
PO Box 810
JASPER IN 47546-3042