German American Bancorp Q3 net income rises on higher yields and margin expansion
GABC•German American Bancorp reported record third-quarter net income and earnings per share, both up 10% year over year. Net interest income rose 10%, and the company declared a $0.31 dividend.
1. Quarterly results
Higher yields on earning assets and lower deposit costs drove net interest margin expansion, the company said. Commercial real estate, consumer and home equity lending supported loan growth, while commercial and industrial and agricultural lending declined. Deposits fell modestly, credit metrics remained strong, and the company provided no specific financial guidance.
