Jasper based German American Bancorp reported that the Company has achieved another quarter of strong earnings during the second quarter of 2017 posting net income of $9.8 million, 43 cents per share.
On a year-to-date basis, German American’s 2017 net income of $19.4 million, or 85 cents per share, was a 25% increase over the first half of 2016.
The Company’s year-to-date 2016 reported net income was inclusive of the operations of River Valley Bancorp, following completion of the merger transaction on March 1, 2016. All per share data is reflective of the effect of the three-for-two stock split distributed on April 21st of this year.
German American’s Chairman & CEO Mark Schroeder says they’re certainly pleased in their ability to post a strong financial performance both during the current quarter and year-to-date.
He says they are particularly encouraged by the strong double-digit growth experienced since the same quarter of last year within numerous categories of non-interest income and by the exceptionally strong level of loan growth during the current quarter.
The Company also announced the declaration of a regular quarterly cash dividend of 13 cents per share, which will be payable on August 20th to shareholders of record as of August 10th.
This level of regular quarterly cash dividend represents approximately an 8% increase, on a stock split adjusted basis, above the Company’s quarterly cash dividend level paid in the prior year.
