German American Bancorp, Inc. (GABC) 10-Year Financial Performance & Capital Metrics

GABC • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingMidwest Community Banks

AboutGerman American Bancorp, Inc. operates as a bank holding company for German American Bank that provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations. The Core Banking segment accepts deposits from the general public; and originates consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, as well as sells residential mortgage loans in the secondary market. The Wealth Management segment provides trust, investment advisory, brokerage, and retirement planning services. The Insurance Operations segment offers a range of personal and corporate property and casualty insurance products. As of December 31, 2021, the company operated 77 banking offices in 19 contiguous southern Indiana counties; and 14 counties in Kentucky. German American Bancorp, Inc. was founded in 1910 and is based in Jasper, Indiana.Show more

Net Interest Income $191M
Total Revenue $315M -0.5%
Net Income $84M -2.4%
Return on Equity 12.16% -13.5%
Net Interest Margin 3.03% -2.2%
Efficiency Ratio 34.26% -24.9%
ROA 1.35% -3.5%
Equity / Assets 11.36% +5.3%
Book Value per Share 24.11 +7.4%
Tangible BV/Share 17.94 +11.2%
Debt/Equity 0.29 +0.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 34.3% efficiency ratio
✓12 consecutive years of dividend growth
✓Well capitalized: 11.4% equity/assets
✓Healthy dividend yield of 2.6%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.7%

5Y7.28%

3Y11.12%

TTM-

Profit (Net Income) CAGR

10Y11.45%

5Y7.19%

3Y-0.13%

TTM21.99%

EPS CAGR

10Y7.06%

5Y4.33%

3Y-3.71%

TTM3.97%

ROCE

10Y Avg12.04%

5Y Avg12.65%

3Y Avg13.28%

Latest11.94%

Peer Comparison

Midwest Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFSLTFS Financial Corporation	3.97B	14.13	44.16	4.37%	11.49%	4.41%	1.15%	2.57
ASBAssociated Banc-Corp	4.43B	26.70	37.08	4.42%	5.85%	3.62%	12.08%	0.69
ASBAAssociated Banc-Corp	4.11B	24.78	30.98	-6.56%	12.92%	3.77%	13.02%	0.17
BANFBancFirst Corporation	3.81B	114.30	17.75	12.28%	23.81%	13.33%	5.89%	0.05
SYBTStock Yards Bancorp, Inc.	2.03B	68.83	17.69	15.84%	22.86%	12.99%	6.56%	0.53
PRKPark National Corporation	2.63B	163.76	17.57	14.4%	23.46%	13.22%	6.44%	0.24
NICNicolet Bankshares, Inc.	1.97B	133.08	16.53	24.6%	23.88%	11.4%	5.95%	0.14
LKFNLakeland Financial Corporation	1.52B	59.47	16.38	9.38%	21.74%	13.06%	6.18%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	75.55M	94.9M	99.91M	114.61M	145.22M	155.24M	160.83M	200.58M	190.43M	190.59M
NII Growth %	0.02%	0.26%	0.05%	0.15%	0.27%	0.07%	0.04%	0.25%	-0.05%	0%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	81.62M	103.36M	111.03M	133.75M	176.47M	174.37M	170.38M	218.93M	256.66M	291.04M
Interest Expense	6.07M	8.46M	11.12M	19.14M	31.25M	19.13M	9.55M	18.34M	66.22M	100.45M
Loan Loss Provision	0	1.2M	1.75M	2.07M	5.33M	17.55M	-6.5M	6.35M	2.55M	2.77M
Non-Interest Income+	27.44M	32.01M	31.85M	37.07M	45.5M	54.47M	59.46M	59.13M	60.26M	24.34M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	109.06M	135.38M	142.88M	170.82M	221.97M	228.84M	229.84M	278.06M	316.92M	315.38M
Revenue Growth %	0.05%	0.24%	0.06%	0.2%	0.3%	0.03%	0%	0.21%	0.14%	-0%
Non-Interest Expense	61.33M	76.59M	77.8M	93.55M	114.16M	117.12M	124.01M	154.19M	144.5M	108.05M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	41.67M	49.13M	52.21M	56.06M	71.24M	75.04M	102.78M	99.18M	103.65M	104.1M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.03%	0.18%	0.06%	0.07%	0.27%	0.05%	0.37%	-0.04%	0.05%	0%
Pretax Income+	41.67M	49.13M	52.21M	56.06M	71.24M	75.04M	102.78M	99.18M	103.65M	104.1M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	11.61M	13.95M	11.53M	9.53M	12.02M	12.83M	18.65M	17.35M	17.76M	20.29M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	30.06M	35.18M	40.68M	46.53M	59.22M	62.21M	84.14M	81.83M	85.89M	83.81M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.06%	0.17%	0.16%	0.14%	0.27%	0.05%	0.35%	-0.03%	0.05%	-0.02%
Net Income (Continuing)	30.06M	35.18M	40.68M	46.53M	59.22M	62.21M	84.14M	81.83M	85.89M	83.81M
EPS (Diluted)+	1.51	1.57	1.77	1.99	2.29	2.34	3.17	2.78	2.91	2.83
EPS Growth %	0.06%	0.04%	0.13%	0.12%	0.15%	0.02%	0.35%	-0.12%	0.05%	-0.03%
EPS (Basic)	1.51	1.57	1.77	1.99	2.29	2.34	3.17	2.78	2.91	2.83
Diluted Shares Outstanding	19.89M	22.39M	22.93M	23.38M	25.82M	26.54M	26.54M	29.46M	29.56M	29.66M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	36.06M	48.47M	47.27M	64.55M	61.96M	59.21M	47.92M	75.98M	79.31M	69.75M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	2.2B	2.7B	2.87B	3.53B	3.93B	4.28B	4.87B	5.51B	5.53B	5.61B
Investments Growth %	0.06%	0.23%	0.06%	0.23%	0.11%	0.09%	0.14%	0.13%	0%	0.01%
Long-Term Investments	1.56B	1.99B	2.13B	2.72B	3.08B	3.06B	2.98B	3.75B	3.93B	4.55B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	20.54M	54.06M	54.06M	103.68M	121.31M	121.96M	121.76M	180.36M	180.36M	179.03M
Intangible Assets	1.28M	2.83M	2.1M	9.96M	12.66M	8.98M	5.84M	9.43M	6.31M	4.02M
PP&E (Net)	37.82M	48.23M	54.25M	80.63M	96.65M	96.59M	88.86M	112.24M	106.78M	104.05M
Other Assets	57.42M	76.28M	82.58M	105.23M	127.19M	370.52M	432.83M	142.64M	249.72M	332.73M
Total Current Assets	695.88M	784.17M	818.36M	912.74M	960.99M	1.32B	1.98B	1.96B	1.68B	1.12B
Total Non-Current Assets	1.68B	2.17B	2.33B	3.02B	3.44B	3.66B	3.63B	4.19B	4.48B	5.17B
Total Assets+	2.37B	2.96B	3.14B	3.93B	4.4B	4.98B	5.61B	6.16B	6.15B	6.3B
Asset Growth %	0.06%	0.25%	0.06%	0.25%	0.12%	0.13%	0.13%	0.1%	-0%	0.02%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%
Accounts Payable	21.65M	18.06M	20.52M	21.41M	44.15M	51.81M	43.58M	43.74M	0	0
Total Debt+	273.32M	258.11M	275.22M	376.41M	349.69M	194.53M	152.18M	203.81M	193.94M	210.13M
Net Debt	237.26M	209.65M	227.95M	311.86M	287.73M	135.32M	104.27M	127.83M	114.63M	140.38M
Long-Term Debt	91.68M	116.8M	138.07M	123.11M	178.57M	138.4M	80.8M	99.79M	125.33M	150.87M
Short-Term Debt	178.29M	137.55M	133.5M	249.77M	167.74M	52.91M	68.33M	101.16M	65.97M	56.86M
Other Liabilities	0	0	0	0	0	0	0	0	41.74M	41.64M
Total Current Liabilities	2.03B	2.51B	2.64B	3.34B	3.64B	4.21B	4.86B	5.49B	5.32B	5.39B
Total Non-Current Liabilities	95.61M	120.56M	141.72M	126.64M	181.95M	141.62M	83.86M	102.64M	169.71M	194.91M
Total Liabilities	2.12B	2.63B	2.78B	3.47B	3.82B	4.35B	4.94B	5.6B	5.49B	5.58B
Total Equity+	252.35M	330.27M	364.57M	458.64M	573.82M	624.71M	668.46M	558.39M	663.56M	715.07M
Equity Growth %	0.1%	0.31%	0.1%	0.26%	0.25%	0.09%	0.07%	-0.16%	0.19%	0.08%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.12%	0.12%	0.12%	0.11%	0.11%	0.1%	0.13%	0.13%	0.14%	0.12%
Book Value per Share	12.69	14.75	15.90	19.62	22.22	23.54	25.19	18.95	22.45	24.11
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	13.28M	15.26M	22.93M	24.97M	26.67M	26.5M	26.55M	29.49M	29.59M	29.68M
Additional Paid-in Capital	110.14M	171.74M	165.29M	229.35M	278.95M	274.38M	276.06M	387.17M	389.41M	392.27M
Retained Earnings	125.11M	149.67M	178.97M	211.42M	253.09M	288.45M	350.36M	405.17M	461.62M	513.59M
Accumulated OCI	3.81M	-6.4M	-2.62M	-7.1M	15.11M	35.38M	15.48M	-263.44M	-217.06M	-220.46M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	31.27M	41.91M	54.88M	62.33M	65.23M	92.42M	100.84M	110.04M	107.23M	95.76M
Operating CF Growth %	-0.14%	0.34%	0.31%	0.14%	0.05%	0.42%	0.09%	0.09%	-0.03%	-0.11%
Net Income	30.06M	35.18M	40.68M	46.53M	59.22M	62.21M	84.14M	81.83M	85.89M	83.81M
Depreciation & Amortization	4.26M	4.32M	4.69M	6.18M	8.63M	9.43M	8.77M	10.12M	9.56M	9.28M
Deferred Taxes	-643K	0	2.49M	0	0	0	0	0	0	0
Other Non-Cash Items	-2.87M	-2.26M	12.9M	6.21M	-6.8M	18.22M	4.68M	15.23M	8.9M	-665K
Working Capital Changes	-1.16M	3.27M	-4.64M	2.05M	2.89M	1.51M	1.53M	532K	552K	394K
Cash from Investing+	-126.93M	-71.69M	-189.28M	-38.8M	30.66M	-346.08M	-640.3M	-24.18M	27.25M	-82.4M
Purchase of Investments	-116.94M	-226.46M	-156.8M	-140.6M	-169.64M	-664.99M	-1.02B	-417.94M	-183.3M	-722.3M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	-1.02M	0	25.13M	5.54M	0	1.69M	207.76M	0	0
Other Investing	-118.26M	-109.47M	0	-77.87M	6.37M	-836K	63.61M	-95.3M	-185.04M	-115.62M
Cash from Financing+	105.22M	42.58M	139.95M	2.66M	-88.56M	495.52M	590.6M	-363.67M	-136.54M	60.1M
Dividends Paid	-9.01M	-10.63M	-11.84M	-14.07M	-17.56M	-20.14M	-22.22M	-27.02M	-29.43M	-31.84M
Share Repurchases	0	0	-29K	0	0	0	0	0	0	0
Stock Issued	0	55K	0	2.61M	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K
Other Financing	47.08M	118.23M	134.74M	-11.11M	-13.01M	676.91M	655.49M	-324.77M	-96.78M	76.2M
Net Change in Cash+	9.56M	12.81M	5.54M	26.19M	7.33M	241.86M	51.14M	-277.81M	-2.05M	73.46M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	42.45M	52.01M	64.82M	70.36M	96.55M	103.88M	345.75M	395.19M	117.38M	115.33M
Cash at End	52.01M	64.82M	70.36M	96.55M	103.88M	345.75M	396.89M	117.38M	115.33M	188.79M
Interest Paid	6.15M	8.35M	10.85M	18.24M	30.77M	20.48M	10.02M	17.44M	60.66M	99.06M
Income Taxes Paid	9.08M	9.25M	12.46M	5.92M	7.98M	11.51M	14.43M	11.65M	15.38M	17.82M
Free Cash Flow+	29.65M	36.68M	43.69M	47.15M	55.85M	85.35M	96.16M	102.18M	101.49M	90.72M
FCF Growth %	-0.11%	0.24%	0.19%	0.08%	0.18%	0.53%	0.13%	0.06%	-0.01%	-0.11%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.5%	12.08%	11.71%	11.3%	11.47%	10.38%	13.01%	13.34%	14.06%	12.16%
Return on Assets (ROA)	1.31%	1.32%	1.33%	1.32%	1.42%	1.33%	1.59%	1.39%	1.4%	1.35%
Net Interest Margin	3.18%	3.21%	3.18%	2.92%	3.3%	3.12%	2.87%	3.26%	3.1%	3.03%
Efficiency Ratio	56.23%	56.57%	54.45%	54.77%	51.43%	51.18%	53.95%	55.45%	45.59%	34.26%
Equity / Assets	10.63%	11.17%	11.59%	11.67%	13.05%	12.55%	11.92%	9.07%	10.79%	11.36%
Book Value / Share	12.69	14.75	15.9	19.62	22.22	23.54	25.19	18.95	22.45	24.11
NII Growth	1.63%	25.61%	5.27%	14.71%	26.71%	6.9%	3.6%	24.72%	-5.06%	0.08%
Dividend Payout	29.97%	30.21%	29.11%	30.25%	29.64%	32.37%	26.41%	33.02%	34.27%	38%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2022	2023	2024
Interchange Fee Income	-	-	-	-	-	-	-	15.82M	17.45M	17.13M
Interchange Fee Income Growth	-	-	-	-	-	-	-	-	10.32%	-1.87%
Wealth Management Fees	-	-	-	-	-	-	-	10.08M	11.71M	14.42M
Wealth Management Fees Growth	-	-	-	-	-	-	-	-	16.23%	23.10%
Service Charge on Deposit Accounts	-	-	-	-	-	-	-	11.46M	11.54M	12.67M
Service Charge on Deposit Accounts Growth	-	-	-	-	-	-	-	-	0.71%	9.80%
Insurance Revenue	-	-	-	-	-	-	-	10.02M	9.6M	4.38M
Insurance Revenue Growth	-	-	-	-	-	-	-	-	-4.23%	-54.31%
Wealth Management Services	-	-	-	-	-	-	8M	-	-	-
Wealth Management Services Growth	-	-	-	-	-	-	-	-	-	-
Retail Banking	-	-	-3K	3K	4K	4K	3K	-	-	-
Retail Banking Growth	-	-	-	200.00%	33.33%	0.00%	-25.00%	-	-	-
Insurance	-	-	-	-	-	-	-	-	-	-
Insurance Growth	-	-	-	-	-	-	-	-	-	-
Investment Banking	-	-	4.66M	5.27M	6.68M	7.27M	-	-	-	-
Investment Banking Growth	-	-	-	13.08%	26.63%	8.96%	-	-	-	-

Frequently Asked Questions

Valuation & Price

German American Bancorp, Inc. (GABC) has a price-to-earnings (P/E) ratio of 14.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

German American Bancorp, Inc. (GABC) saw revenue decline by 0.5% over the past year.

Yes, German American Bancorp, Inc. (GABC) is profitable, generating $100.2M in net income for fiscal year 2024 (26.6% net margin).

Dividend & Returns

Yes, German American Bancorp, Inc. (GABC) pays a dividend with a yield of 2.64%. This makes it attractive for income-focused investors.

German American Bancorp, Inc. (GABC) has a return on equity (ROE) of 12.2%. This is reasonable for most industries.

Industry Metrics

German American Bancorp, Inc. (GABC) has a net interest margin (NIM) of 3.0%. This indicates healthy earnings from lending activities.

German American Bancorp, Inc. (GABC) has an efficiency ratio of 34.3%. This is excellent, indicating strong cost control.

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