Local bank reports quarter was consistent

German American Bancorp posted net income of almost $9.84 million, or 43 cents per share for the second quarter, the company reported this week.

This was in line with the second quarter 2016 net income of nearly $9.8 million, or 43 cents per share.

On a year-to-date basis, German American’s 2017 net income of nearly $19.4 million, or 85 cents per share, was a 25 percent increase over the more than $14.9 million, or 68 cents per share, reported during the first half of 2016.

The company’s year-to-date 2016 net income included the operations of River Valley Bancorp, following completion of a merger March 1, 2016, and reflected merger-related costs that totaled about $4.1 million, or $2.6 million on an after-tax basis.

All per share data have been adjusted for and are reflective of the effect of the three-for-two stock split distributed April 21.

The company announced a regular quarterly cash dividend of 13 cents per share, which will be payable Aug. 20 to shareholders of record as of Aug. 10. This level of regular quarterly cash dividend represents about an 8 percent increase, on a stock split-adjusted basis, above the company’s quarterly cash dividend level paid in the prior year.

German American Bancorp operates 52 banking offices in 19 contiguous southern Indiana counties, including in Seymour, and one in northern Kentucky.