Profile: German American Bancorp Inc (GABC.OQ)
26 May 2017
German American Bancorp, Inc., incorporated on October 29, 1982, is a bank holding company. As of December 31, 2016, the Company, through its banking subsidiary German American Bancorp, operated 51 banking offices in 19 contiguous southern Indiana counties and one northern Kentucky county. The Company also owns an investment brokerage subsidiary (German American Investment Services, Inc.) and a range property and casualty insurance agency (German American Insurance, Inc.). The Company's segments are core banking, trust and investment advisory services, insurance, and other. 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, primarily in the Company's banking subsidiary's local markets. The Company's lines of business include retail and commercial banking, financial planning, full service brokerage and trust administration, and a range of personal and corporate insurance products.
The Company's loan portfolio consists of commercial and industrial loans and leases, commercial real estate loans, agricultural loans, home equity and consumer loans, and residential mortgage loans. As of December 31, 2016, the Bank's net loans amounted to $1.9 billion.
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 and collateralized mortgage obligations issued by the United States Government agencies. Money market securities include federal funds sold, interest-bearing balances with banks, and other short-term investments. As of December 31, 2016, the Bank's total securities amounted to $709 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. Its 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. As of December 31, 2016, the Bank's total deposits amounted to $2.3 billion.
German American Bancorp Inc
711 Main St,
PO Box 810
JASPER IN 47546-3042