Financial Analysis

Commitments and Off-balance Sheet Items In the normal course of business, there are various commitments and contingent liabilities, such as commitments to extend credit and commitments to sell loans, which are not reflected in the accompanying consolidated financial statements. The Companys exposure to credit loss in the event of nonperformance by the other party to the financial instruments for commitments to make loans and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policy to make commitments as it uses for on-balance sheet items. The Companys exposure to credit risk for commitments to sell loans is dependent upon the ability of the counter-party to purchase the loans. This is generally assured by the use of government sponsored entity counterparts. These commitments are subject to market risk resulting from fluctuations in interest rates. Commitments and contingent liabilities are summarized as follows, at December 31: 2025 2024 Fixed Rate Variable Rate Fixed Rate Variable Rate Commitments to Fund Loans: Consumer Lines $ 16,377 $ 971,533 $ 19,477 $ 734,821 Commercial Operating Lines 124,804 826,030 83,754 544,757 Residential Mortgages 1,897 480 13,602 525 Total Commitments to Fund Loans $ 143,078 $ 1,798,043 $ 116,833 $ 1,280,103 Commitments to Sell Loans: Mandatory $ 7,046 $ $ 2,715 $ Non-mandatory $ $ $ 6,043 $ Standby Letters of Credit $ 2,152 $ 15,589 $ 2,170 $ 12,586 The fixed rate commitmen …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

FHLB Advances and Other Borrowings The Companys funding sources include Federal Home Loan Bank advances, borrowings from other third party correspondent financial institutions, issuance and sale of subordinated debt and other capital securities, and repurchase agreements. Information regarding each of these types of borrowings or other indebtedness is as follows: December 31, 2025 2024 Principal Unamortized Discount and Debt Issuance Costs Principal Unamortized Discount and Debt Issuance Costs Long-term Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities $ 100,000 $ $ 75,000 $ Junior Subordinated Debentures assumed from American Community Bancorp, Inc. 8,248 (1,423) 8,248 (1,573) Junior Subordinated Debentures assumed from River Valley Bancorp, Inc. 7,217 (766) 7,217 (871) Junior Subordinated Debentures assumed from Citizens First Corporation 5,155 (722) 5,155 (787) Junior Subordinated Debentures assumed from Citizens Union Bancorp of Shelbyville, Inc. 20,600 (1,615) 20,600 (1,751) Subordinated Debentures 40,000 (372) Finance Lease Obligation 2,137 2,403 Long-term Borrowings 143,357 (4,526) 158,623 (5,354) Overnight Variable Rate Advances from Federal Home Loan Bank collateralized by qualifying mortgages, investment securities, and mortgage-backed securities Federal Funds Purchased Repurchase Agreements 43,852 56,862 Short-term Borrowings 43,852 56,862 Total Borrowings $ 187,209 $ (4,526) $ 215,485 …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table presents non-interest income, segregated by revenue streams in-scope and out-of-scope of FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), for the years ended December 31, 2025, 2024 and 2023. Trust and investment product fees are included in the wealth management services segment while insurance revenues are included in the insurance segment. All other revenue streams are primarily included in the banking segment. Years Ended December 31, Non-interest Income 2025 2024 2023 In-Scope of Topic 606: Wealth Management Fees $ 16,808 $ 14,416 $ 11,711 Service Charges on Deposit Accounts 15,083 12,669 11,538 Insurance Revenues 4,384 9,596 Interchange Fee Income 19,598 17,125 17,452 Other Operating Income: ATM Fees 1,299 1,197 1,185 Wire Transfer Fees 931 709 696 Other (1) 1,387 1,100 1,251 Non-interest Income (in-scope of Topic 606) 55,106 51,600 53,429 Non-interest Income (out-of-scope of Topic 606) 12,206 11,060 6,832 Total Non-interest Income $ 67,312 $ 62,660 $ 60,261 (1) Other income includes safe deposit box rentals and other non-interest related fees totaling $1.3 million, $1.1 million, and $1.2 million for the years ended December 31, 2025, 2024, and 2023, respectively, all of which are within scope of ASC 606. …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

Fair Value Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entitys own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Investment Securities: The fair values for investment securities are determined by quoted market prices, if available (Level 1). For investment securities where quoted prices are not available, fair values are calculated based on market prices of similar investment securities (Level 2). For investment securities where quoted prices or market prices of similar investment securities are not available, fair values ar …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Income Taxes The provision for income taxes consists of the following: 2025 2024 2023 Current Federal $ 17,453 $ 17,521 $ 13,067 Current State 1,723 3,306 1,934 Deferred Federal 7,126 (766) 2,602 Deferred State 1,133 227 156 Total Income Tax Expense from Continuing Operations $ 27,435 $ 20,288 $ 17,759 Effective tax rates differ from the federal statutory rate of 21% for 2025, 2024 and 2023 applied to income before income taxes due to the following: 2025 2024 2023 Amount Percent Amount Percent Amount Percent Federal Statutory Income Tax $ 29,415 21.00 % $ 21,861 21.00 % $ 21,766 21.00 % Effect of: State and Local Income Tax, Net of Federal Tax Effect* 2,256 1.61 2,782 2.67 1,651 1.59 Tax Credits: General Business Tax Credits, Net of Amortization (40) (0.03) (54) (0.05) (27) (0.03) Nontaxable or Nondeductible Items: Income from Tax-exempt Loans and Investments, Net of Interest Expense Disallowance (3,842) (2.74) (4,008) (3.85) (4,951) (4.78) Other Differences (354) (0.25) (293) (0.28) (680) (0.65) Total Income Taxes $ 27,435 19.59 % $ 20,288 19.49 % $ 17,759 17.13 % *State taxes in Indiana and Kentucky made up the majority (greater than 50 percent) of the tax effect in this category. The Company does not have income from foreign sources and therefore does not have any foreign income tax. Income taxes paid were as follows, net of refunds: 2025 2024 Federal $ 16,550 $ 14,823 State and Local Indiana 1,900 1,430 Kentucky 375 1,450 All Other States 100 120 Total Taxes Paid $ 18,925 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases At the inception of a contract, an entity should determine whether the contract contains a lease. Topic 842 defines a lease as a contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Control over the use of an identified asset means that the customer has both (1) the right to obtain substantially all of the economic benefits from the use of the asset and (2) the right to direct the use of the asset. The Bank has finance leases for branch offices as well as operating leases for branch offices, ATM locations and certain office equipment. The right-of-use asset is included in the Premises, Furniture and Equipment, Net line of the Consolidated Balance Sheet. The lease liability is included in the Accrued Interest Payable and Other Liabilities line of the Consolidated Balance Sheet. The Company used the implicit lease rate when determining the present value of lease payments for finance leases. The present value of lease payments for operating leases was determined using the incremental borrowing rate as of the date the Company adopted this standard. The components of lease expense were as follows: December 31, 2025 December 31, 2024 Finance Lease Cost: Amortization of Right-of-Use Assets $ 210 $ 210 Interest on Lease Liabilities 252 280 Operating Lease Cost 1,701 1,319 Short-term Lease Cost Total Lease Cost $ 2,163 $ 1,809 The weighted …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Recently Adopted Accounting Guidance In March 2025, the FASB issued ASU 2025-02, Liabilities (Topic 405): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 122 to rescind the previously-issued interpretative guidance included within Staff Accounting Bulletin (SAB) No. 121 with respect to accounting for obligations to safeguard crypto assets that an entity holds for its customers. SAB 122 directs an entity to apply ASC 450-20, Loss Contingencies, to determine whether there is a liability related to risk of loss from such an obligation to safeguard crypto assets for its customers. This guidance is effective for annual periods beginning after December 15, 2024, including interim periods within those fiscal years. While the Company adopted this standard, it did not have an effect on the Companys financial statements as the Companys current operations do not include such safeguarding activities. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Retrospective application is required. The Company adopted this standard and updated the segment disclosure. See Note 18 for additional information. In Decembe …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Employee Benefit Plans The Company provides a contributory trusteed 401(k) deferred compensation and profit sharing plan, which covers substantially all employees. The Company agrees to match certain employee contributions under the 401(k) portion of the plan, while profit sharing contributions are discretionary and are subject to determination by the Board of Directors. Company contributions were $2,871, $2,381, and $2,356 for 2025, 2024, and 2023, respectively. The Company self-insures employee health benefits. Stop loss insurance covers annual losses exceeding $175 per covered family. Managements policy is to establish a reserve for claims not submitted by a charge to earnings based on prior experience. Charges to earnings were $8,797, $7,303, and $7,227 for 2025, 2024, and 2023, respectively. The Company maintains deferred compensation plans for the benefit of certain directors and officers. Under the plans, the Company agrees in return for the directors and officers deferring the receipt of a portion of their current compensation, to pay a retirement benefit computed as the amount of the compensation deferred plus accrued interest at a variable rate. Accrued benefits payable totaled $2,745 and $2,485 at December 31, 2025 and 2024, respectively. Deferred compensation expense was $161, $81, and $261 for 2025, 2024, and 2023, respectively. In conjunction with the plans, the Company purchased life insurance on certain directors and officers. Postretirement Medical and Life B …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Recognition The following table presents non-interest income, segregated by revenue streams in-scope and out-of-scope of FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), for the years ended December 31, 2025, 2024 and 2023. Trust and investment product fees are included in the wealth management services segment while insurance revenues are included in the insurance segment. All other revenue streams are primarily included in the banking segment. Years Ended December 31, Non-interest Income 2025 2024 2023 In-Scope of Topic 606: Wealth Management Fees $ 16,808 $ 14,416 $ 11,711 Service Charges on Deposit Accounts 15,083 12,669 11,538 Insurance Revenues 4,384 9,596 Interchange Fee Income 19,598 17,125 17,452 Other Operating Income: ATM Fees 1,299 1,197 1,185 Wire Transfer Fees 931 709 696 Other (1) 1,387 1,100 1,251 Non-interest Income (in-scope of Topic 606) 55,106 51,600 53,429 Non-interest Income (out-of-scope of Topic 606) 12,206 11,060 6,832 Total Non-interest Income $ 67,312 $ 62,660 $ 60,261 (1) Other income includes safe deposit box rentals and other non-interest related fees totaling $1.3 million, $1.1 million, and $1.2 million for the years ended December 31, 2025, 2024, and 2023, respectively, all of which are within scope of ASC 606. A description of the Companys revenue streams accounted for under Topic 606 follows: Service Charges on Deposit Accounts : The Company earns fees from its deposit customers for transaction-based, account m …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Segment Information The Companys reportable segments are determined by the type of products and services offered and the level of information provided to the Companys chief operating decision maker, who uses such information in evaluating revenue streams, significant expenses, and budget to actual results in assessing the performance of the Companys segments and in the determination of allocation resources. For the year ended December 31, 2025 and the last 7 months of 2024, the Companys operations included two primary segments: core banking and wealth management services. For the first five months of 2024, the Companys operations included three primary segments: core banking, wealth management services, and insurance operations. On June 1, 2024, the Company sold substantially all of the assets of its insurance operations and ceased insurance-related activities for the Company. As a result of the sale, insurance revenue and expenses reported within the accompanying financial statements reflect operations during the first five months of 2024. See Note 2 for additional information on this sale. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Companys local markets by the Companys banking subsidiary, German American Bank, which operated through 94 banking offices at December 31, 2025. Net i …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Summary of Significant Accounting Policies Description of Business and Basis of Presentation For the year ended December 31, 2025 and the last 7 months of 2024, the operations of German American Bancorp, Inc. (the Company) were primarily comprised of two business segments: core banking, and wealth management services. Prior to June 1, 2024, the operations of the Company included three primary segments: core banking, wealth management services and insurance operations. The accounting and reporting policies of the Company and its subsidiaries conform to U.S. generally accepted accounting principles. The more significant policies are described below. The consolidated financial statements include the accounts of the Company and its subsidiaries after elimination of all material intercompany accounts and transactions. Certain prior year amounts have been reclassified to conform with current classifications. Reclassifications had no impact on shareholders equity or net income. To prepare financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. Securities Debt securities classified as available-for-sale are securities that the Company intends to hold for an indefinite period of time, but not necessarily …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Shareholders Equity Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The current risk-based capital rules, as adopted by federal banking regulators, are based upon guidelines developed by the Basel Committee on Banking Supervision and reflect various requirements of the Dodd-Frank Act (the Basel III Rules). The Basel III Rules require banking organizations to, among other things, maintain a minimum ratio of Total Capital to risk-weighted assets, a minimum ratio of Tier 1 Capital to risk-weighted assets, a minimum ratio of Common Equity Tier 1 Capital to risk-weighted assets, and a minimum leverage ratio (calculated as the ratio of Tier 1 Capital to adjusted average consolidated assets). In addition, under the Basel III Rules, in order to avoid limitations on capital distributions, including dividend payments, the Company is required to maintain a 2.5% capital conservation buffer above the adequately capitalized regulatory capital ratios. The net unrealized gain or loss on available for sale securities is not includ …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Business Combinations On February 1, 2025, the Company acquired Heartland BancCorp (Heartland) through the merger of Heartland with and into the Company. Immediately following completion of the Heartland holding company merger, Heartlands subsidiary bank, Heartland Bank, was merged with and into the Companys subsidiary bank, German American Bank. Heartland, headquartered in Whitehall, Ohio, operated 20 retail banking offices located in Columbus, Ohio and Greater Cincinnati. As of the closing of the transaction, Heartland had total assets of approximately $1.94 billion, total loans of approximately $1.58 billion, and total deposits of approximately $1.73 billion. The Company accounted for the transaction under the acquisition method of accounting, which means these financial assets and liabilities were recorded at fair value at the day of acquisition. The fair value of the common shares issued as part of the consideration paid for Heartland was based upon the closing price of the Companys common shares on the acquisition date. Fair value adjustments on premises, certain borrowings and other liabilities, as well as the related tax impacts, were made during the current quarter. The Company increased the fair value of property by $1,664, with a corresponding decrease to goodwill, due to the receipt of finalized appraisals. The increase in fair value resulted in an increase in depreciation expense of $152 that would have been recognized in a prior period. The Company does not expe …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

The following tables present non-interest income, segregated by revenue streams in-scope and out-of-scope of FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), for the three and nine months ended September 30, 2025 and 2024. Wealth management fees are included in the wealth management services segment while insurance revenues are included in the insurance segment. All other revenue streams are primarily included in the banking segment. As a result of the sale of substantially all of the assets of GAI on June 1, 2024, insurance revenues reflect no GAI activity for the quarter ended September 30, 2025. See Note 3 for additional information on the sale. Three Months Ended September 30, Non-interest Income 2025 2024 In-Scope of Topic 606: Wealth Management Fees $ 4,288 $ 3,580 Service Charges on Deposit Accounts 3,927 3,330 Insurance Revenues Interchange Fee Income 5,087 4,390 Other Operating Income: ATM Fees 352 313 Wire Transfer Fees 242 182 Other (1) 408 240 Non-interest Income (in-scope of Topic 606) 14,304 12,035 Non-interest Income (out-of-scope of Topic 606) 4,125 1,766 Total Non-interest Income $ 18,429 $ 13,801 (1) Other income includes safe deposit box rentals and other non-interest related fees totaling $408 thousand and $240 thousand for the three months ended September 30, 2025 and 2024, respectively, all of which are within the scope of ASC 606. Nine Months Ended September 30, Non-interest Income 2025 2024 In-Scope of Topic 606: Wealth Manageme …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

Equity Plans and Equity Based Compensation During the periods presented, the Company maintained one equity incentive plan under which stock options, restricted stock, and other equity incentive awards could be granted. The Companys 2019 LTI Plan (the 2019 LTI Plan), which authorizes a maximum aggregate issuance of 1,000,000 shares of common stock (subject to certain permitted adjustments), became effective on May 16, 2019, following approval of the Companys shareholders. It will remain in effect until May 16, 2029, or until all shares of common stock subject to the 2019 LTI Plan are distributed, all awards have expired or terminated, or the plan is terminated pursuant to its terms, whichever occurs first. For the three and nine months ended September 30, 2025 and 2024, the Company granted no options. The Company recorded no stock compensation expense applicable to options during the three and nine months ended September 30, 2025 and 2024. In addition, there was no unrecognized option expense. During the periods presented, awards of long-term incentives were granted in the form of restricted stock. Awards granted under the management incentive plan were granted in tandem with cash credit entitlements in the form of 66.67% restricted stock grants and 33.33% cash credit entitlements. The cash portion of an award vests towards the end of the year in which the grant was made, followed by the restricted stock grants vesting 50% in each of the 2nd and 3rd years. For named executive …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Fair Value Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entitys own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Investment Securities: The fair values for investment securities are determined by quoted market prices, if available (Level 1). For investment securities where quoted prices are not available, fair values are calculated based on market prices of similar investment securities (Level 2). For investment securities where quoted prices or market prices of similar investment securities are not available, fair values ar …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Leases At the inception of a contract, an entity should determine whether the contract contains a lease. Topic 842 defines a lease as a contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Control over the use of an identified asset means that the customer has both (1) the right to obtain substantially all of the economic benefits from the use of the asset and (2) the right to direct the use of the asset. The Bank has finance leases for branch offices as well as operating leases for branch offices, ATM locations and certain office equipment. The right-of-use asset is included in the Premises, Furniture and Equipment, Net line of the Consolidated Balance Sheet. The lease liability is included in the Accrued Interest Payable and Other Liabilities line of the Consolidated Balance Sheet. The Company used the implicit lease rate when determining the present value of lease payments for finance leases. The present value of lease payments for operating leases was determined using the incremental borrowing rate as of the date the Company adopted this standard. The components of lease expense were as follows: Three Months Ended Three Months Ended September 30, 2025 September 30, 2024 Finance Lease Cost: Amortization of Right-of -Use Assets $ 52 $ 52 Interest on Lease Liabilities 62 69 Operating Lease Cost 386 324 Short-term Lease Cost Total Lease C …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recently Adopted Accounting Guidance The SECs Staff Accounting Bulletin No. 121 (SAB 121) provides interpretive guidance regarding the accounting for obligations to safeguard crypto-assets an entity holds for its customers, either directly or through an agent or another third party acting on its behalf. SAB 121 requires an entity to recognize a liability on its balance sheet to reflect the obligation to safeguard the crypto-assets of others, along with a corresponding safeguarding asset, both of which are measured at fair value. The Company has completed an evaluation and concluded that it does not have a safeguarding obligation under SAB 121 and therefore the disclosures do not apply. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Retrospective application is required. The Company adopted this standard and updated the segment disclosure. See Note 9 for additional information. Issued But Not Yet Effective In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures. This updated accounting guidance requires expanded income tax disclosures, including the disaggregation o …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Revenue Recognition The following tables present non-interest income, segregated by revenue streams in-scope and out-of-scope of FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), for the three and nine months ended September 30, 2025 and 2024. Wealth management fees are included in the wealth management services segment while insurance revenues are included in the insurance segment. All other revenue streams are primarily included in the banking segment. As a result of the sale of substantially all of the assets of GAI on June 1, 2024, insurance revenues reflect no GAI activity for the quarter ended September 30, 2025. See Note 3 for additional information on the sale. Three Months Ended September 30, Non-interest Income 2025 2024 In-Scope of Topic 606: Wealth Management Fees $ 4,288 $ 3,580 Service Charges on Deposit Accounts 3,927 3,330 Insurance Revenues Interchange Fee Income 5,087 4,390 Other Operating Income: ATM Fees 352 313 Wire Transfer Fees 242 182 Other (1) 408 240 Non-interest Income (in-scope of Topic 606) 14,304 12,035 Non-interest Income (out-of-scope of Topic 606) 4,125 1,766 Total Non-interest Income $ 18,429 $ 13,801 (1) Other income includes safe deposit box rentals and other non-interest related fees totaling $408 thousand and $240 thousand for the three months ended September 30, 2025 and 2024, respectively, all of which are within the scope of ASC 606. Nine Months Ended September 30, Non-interest Income 2025 2024 In-Scope of Topic …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Segment Information For the first five months of 2024, the Companys operations included three primary segments: core banking, wealth management services, and insurance operations. On June 1, 2024, the Company sold substantially all of the assets of its insurance operations to Hilb Group, and ceased insurance-related activities for the Company. As a result of the sale, insurance revenue and expenses reported within the accompanying financial statements reflect no GAI activity for the first nine months of 2025. See Note 3 for additional information on this sale. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Companys local markets by the Companys banking subsidiary, German American Bank. Net interest income from loans and investments funded by deposits and borrowings is the primary revenue for the core-banking segment. The core banking segment also involves the sale of residential mortgage loans in the secondary market. The wealth management segments revenues are comprised primarily of fees generated by the wealth advisory and trust operations of the Companys banking subsidiary and by German American Investment Services, Inc. These fees are derived by providing trust, investment advisory, brokerage and retirement planning services to its customers. The insurance segment offered a full ra …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Stock Repurchase Plan On January 31, 2022, the Companys Board of Directors approved a plan to repurchase up to 1,000,000 shares of the Companys outstanding common stock. On a share basis, the amount of common stock subject to the repurchase plan represented approximately 3% of the Companys outstanding shares at the time it was approved. The Company is not obligated to purchase shares under the plan, and the plan may be discontinued at any time. The actual timing, number and share price of shares purchased under the repurchase plan will be determined by the Company at its discretion and will depend upon such factors as the market price of the stock, general market and economic conditions and applicable legal requirements. The Company has not repurchased any shares under this repurchase plan. In August 2022, the Inflation Reduction Act of 2022 (the IRA) was enacted. Among other things, the IRA imposes a new 1% excise tax on the fair value of stock repurchased after December 31, 2022 by publicly traded U.S. corporations, like the Company. With certain exceptions, the value of stock repurchased is determined net of stock issued in the year, including shares issued pursuant to compensatory arrangements. …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing