German American reports annual earnings
Saturday, February 04, 2017 10:02 AM
German American Bancorp, based in Jasper with branches in Jefferson County, has reported record earnings for the end of 2016 – marking the seventh consecutive year of growth.
German American purchased River Valley Bancorp, the parent of River Valley Financial Bank, in Jan. 2016.
A 2016 net income of $35.2 million, or $2.36 per share, is an increase of approximately four percent on a per share basis. The previous record in 2015, was $2.27 per share.
The company’s net income was inclusive of ten months’ operations of River Valley following completion of the merger in March 2016.
German American also announced an increase in its regular quarterly cash dividend. The company’s board of directors declared a regular quarterly cash dividend of $0.19 per share, a six percent increase from the previous level. This is the fifth consecutive year of dividend increases.