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1. Company Snapshot

1.a. Company Description

German 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.

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1.b. Last Insights on GABC

German American Bancorp, Inc.'s recent performance was driven by strong Q2 earnings of $31.4 million, or $0.84 per share, representing a 180% increase from Q1 2025. The company's beat earnings and revenue estimates, with quarterly earnings of $0.86 per share, exceeding the Zacks Consensus Estimate of $0.83 per share. Additionally, German American Bank received a Top 20 performance ranking by Bank Director and was awarded the Raymond James Community Bankers Cup for 2024 performance. A hammer chart pattern and upward trend in earnings estimate revisions also suggest a potential trend reversal.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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German American Bancorp (GABC) Reports Q3 Earnings: What Key Metrics Have to Say

Oct -28

Source: zacks.com

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German American Bancorp (GABC) Beats Q3 Earnings and Revenue Estimates

Oct -27

Source: zacks.com

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German American Bancorp, Inc. (GABC) Reports Record Earnings for Third Quarter 2025

Oct -27

Source: businesswire.com

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Here's Why German American Bancorp (GABC) Is a Great 'Buy the Bottom' Stock Now

Aug -12

Source: zacks.com

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German American Bank Receives Top 20 Performance Ranking by Bank Director

Aug -07

Source: businesswire.com

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German American Bancorp (GABC) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

Jul -29

Source: zacks.com

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German American Bancorp (GABC) Beats Q2 Earnings and Revenue Estimates

Jul -28

Source: zacks.com

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German American Bancorp, Inc. (GABC) Reports Strong Second Quarter 2025 Earnings

Jul -28

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (1.18%)

6. Segments

Core Banking

Expected Growth: 1.2%

German American Bancorp's 1.2% core banking growth is driven by strategic acquisitions, expanding commercial loan portfolio, and a strong deposit base. Additionally, investments in digital banking platforms and cost-saving initiatives have improved operational efficiency, contributing to the growth. The bank's focus on community banking and customer relationships has also led to increased market share and revenue growth.

Wealth Management Services

Expected Growth: 0.8%

German American Bancorp's Wealth Management Services growth is driven by increasing demand for investment and retirement planning, strategic partnerships, and expansion into new markets. Additionally, the company's focus on digital transformation, enhanced customer experience, and a strong brand reputation contribute to its 0.8 growth rate.

Insurance

Expected Growth: 1.5%

German American Bancorp's insurance segment growth of 1.5% is driven by increasing demand for risk management products, expansion into new markets, and strategic partnerships. Additionally, the company's focus on digitalization and customer-centric approach have improved sales and retention rates, contributing to the segment's growth.

Other

Expected Growth: 0.5%

German American Bancorp's 0.5% growth is driven by a stable net interest margin, steady loan growth, and a solid balance sheet. Additionally, the bank's focus on commercial lending, mortgage banking, and wealth management contributes to its growth. Furthermore, strategic acquisitions and investments in digital banking capabilities also support its expansion.

7. Detailed Products

Commercial Loans

German American Bancorp, Inc. offers a range of commercial loans to businesses, including term loans, lines of credit, and construction loans, to support their growth and expansion plans.

Consumer Loans

The company provides consumer loans, including personal loans, home equity loans, and auto loans, to individuals for various personal and household expenses.

Mortgage Loans

German American Bancorp, Inc. offers a variety of mortgage loan options, including fixed-rate and adjustable-rate mortgages, to help individuals and families purchase or refinance their homes.

Deposit Accounts

The company offers a range of deposit accounts, including checking, savings, and money market accounts, to help individuals and businesses manage their finances.

Treasury Management Services

German American Bancorp, Inc. provides treasury management services, including cash management, wire transfers, and ACH services, to help businesses manage their cash flow and optimize their financial operations.

Wealth Management Services

The company offers wealth management services, including investment management, trust services, and retirement planning, to help individuals and families achieve their long-term financial goals.

Insurance Services

German American Bancorp, Inc. provides insurance services, including life insurance, long-term care insurance, and annuities, to help individuals and families protect their assets and achieve their financial goals.

8. German American Bancorp, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

German American Bancorp, Inc. operates in a highly competitive industry, but the threat of substitutes is mitigated by the company's strong brand recognition and customer loyalty.

Bargaining Power Of Customers

German American Bancorp, Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's strong relationships with its customers reduce the likelihood of customers switching to competitors.

Bargaining Power Of Suppliers

German American Bancorp, Inc. has a diversified supplier base, which reduces the bargaining power of individual suppliers. The company's strong financial position also gives it negotiating power with its suppliers.

Threat Of New Entrants

The banking industry has high barriers to entry, including regulatory hurdles and capital requirements. This reduces the threat of new entrants and gives German American Bancorp, Inc. a competitive advantage.

Intensity Of Rivalry

The banking industry is highly competitive, with many established players competing for market share. German American Bancorp, Inc. must continually innovate and improve its products and services to remain competitive.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 22.54%
Debt Cost 5.64%
Equity Weight 77.46%
Equity Cost 7.11%
WACC 6.78%
Leverage 29.10%

11. Quality Control: German American Bancorp, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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First Bancorp

A-Score: 6.6/10

Value: 7.0

Growth: 4.9

Quality: 5.9

Yield: 9.0

Momentum: 5.0

Volatility: 8.0

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Community West

A-Score: 6.2/10

Value: 5.7

Growth: 3.8

Quality: 6.6

Yield: 6.0

Momentum: 7.0

Volatility: 8.0

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Western New England Bancorp

A-Score: 6.0/10

Value: 5.4

Growth: 4.4

Quality: 6.2

Yield: 5.0

Momentum: 8.5

Volatility: 6.7

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Heritage Commerce

A-Score: 6.0/10

Value: 3.9

Growth: 3.7

Quality: 7.3

Yield: 9.0

Momentum: 5.0

Volatility: 7.0

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German American Bancorp

A-Score: 5.8/10

Value: 6.2

Growth: 4.8

Quality: 5.6

Yield: 5.0

Momentum: 4.5

Volatility: 8.7

1-Year Total Return ->

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Origin Bancorp

A-Score: 5.7/10

Value: 5.9

Growth: 5.3

Quality: 6.4

Yield: 3.0

Momentum: 6.0

Volatility: 7.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

39.62$

Current Price

39.62$

Potential

-0.00%

Expected Cash-Flows