German American Bancorp Files 8-K
Ticker: GABC · Form: 8-K · Filed: Jun 3, 2024 · CIK: 714395
| Field | Detail |
|---|---|
| Company | German American Bancorp, Inc. (GABC) |
| Form Type | 8-K |
| Filed Date | Jun 3, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $40.0 million, $9.6 million, $1.7 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: 8-K, regulatory-filing, financials
Related Tickers: GABC
TL;DR
GABC filed an 8-K for Reg FD and financials. Nothing major disclosed yet.
AI Summary
On June 3, 2024, German American Bancorp, Inc. filed an 8-K report. The filing primarily concerns Regulation FD disclosures and financial statements/exhibits. No specific financial transactions or material events were detailed in the provided excerpt.
Why It Matters
This filing indicates routine corporate reporting, providing updates on financial statements and regulatory disclosures for German American Bancorp, Inc.
Risk Assessment
Risk Level: low — The filing is a standard 8-K for regulatory and financial disclosures, not indicating any immediate risks.
Key Players & Entities
- GERMAN AMERICAN BANCORP, INC. (company) — Registrant
- 0000714395-24-000034 (filing_id) — Accession Number
- June 3, 2024 (date) — Report Date
- 711 Main Street Jasper, Indiana 47546 (address) — Principal Executive Offices
FAQ
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is for Regulation FD disclosures and to report financial statements and exhibits.
What is the exact name of the registrant?
The exact name of the registrant is GERMAN AMERICAN BANCORP, INC.
On what date was this report filed?
The report was filed on June 3, 2024.
What is the company's principal executive office address?
The company's principal executive office is located at 711 Main Street Jasper, Indiana 47546.
What is the Commission File Number for German American Bancorp, Inc.?
The Commission File Number for German American Bancorp, Inc. is 001-15877.
Filing Stats: 658 words · 3 min read · ~2 pages · Grade level 10.3 · Accepted 2024-06-03 08:32:59
Key Financial Figures
- $40.0 million — mpany ("Hilb"), for a purchase price of $40.0 million in cash. As part of the transaction, th
- $9.6 million — the Insurance Subsidiary had revenue of $9.6 million and net income of $1.7 million. On Ju
- $1.7 million — venue of $9.6 million and net income of $1.7 million. On June 3, 2024, the Company issued
Filing Documents
- gabc-20240603.htm (8-K) — 29KB
- gaipressreleasejune32024.htm (EX-99.1) — 4KB
- projectfranklininvestord.htm (EX-99.2) — 7KB
- gaipressreleasejune32024001.jpg (GRAPHIC) — 190KB
- gaipressreleasejune32024002.jpg (GRAPHIC) — 84KB
- projectfranklininvestord001.jpg (GRAPHIC) — 81KB
- projectfranklininvestord002.jpg (GRAPHIC) — 142KB
- projectfranklininvestord003.jpg (GRAPHIC) — 148KB
- projectfranklininvestord004.jpg (GRAPHIC) — 130KB
- projectfranklininvestord005.jpg (GRAPHIC) — 145KB
- projectfranklininvestord006.jpg (GRAPHIC) — 62KB
- 0000714395-24-000034.txt ( ) — 1519KB
- gabc-20240603.xsd (EX-101.SCH) — 2KB
- gabc-20240603_lab.xml (EX-101.LAB) — 21KB
- gabc-20240603_pre.xml (EX-101.PRE) — 12KB
- gabc-20240603_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On June 3, 2024, German American Bancorp, Inc. (the "Company") announced that its indirect, wholly-owned subsidiary, German American Insurance, Inc. (the "Insurance Subsidiary"), sold substantially all of its assets to The Hilb Group of Indiana, LLC, a Delaware limited liability company ("Hilb"), for a purchase price of $40.0 million in cash. As part of the transaction, the Insurance Subsidiary and its parent, German American Bank (the "Bank"), will provide certain transition services to Hilb for a period of up to nine (9) months. The Bank may receive payments for the referral of customers to Hilb, and the Company and its affiliated entities will refrain from conducting certain insurance activities, in each case, for a period of five (5) years following closing. The effective date of the transaction is June 1, 2024. Prior to the sale, the Insurance Subsidiary was a full-service agency offering personal and commercial insurance products. For the year ended December 31, 2023, the Insurance Subsidiary had revenue of $9.6 million and net income of $1.7 million. On June 3, 2024, the Company issued a press release announcing the transaction. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. Also, on June 3, 2024, the Company will begin conducting a series of meetings with analysts and investors, providing supplemental information regarding the transaction. A copy of the presentation that will be made available in connection with the meetings is attached hereto as Exhibit 99.2 and incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release, dated June 3, 2024. 99.2 Investor Presentation of German American Bancorp, Inc., dated June 3, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * * * * * * SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GERMAN AMERICAN BANCORP, INC. Date: June 3, 2024 By: /s/ D. Neil Dauby D. Neil Dauby, Chairman and Chief Executive Officer