Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

The condensed financial statements of German American Bancorp, Inc. are presented below:

CONDENSED BALANCE SHEETS

	December 31,
	2018			2017
ASSETS
Cash	$	17,868		$	24,777
Other Investments	353			353
Investment in Subsidiary Bank	469,919			342,054
Investment in Non-banking Subsidiaries	5,394			5,050
Other Assets	7,324			8,906
Total Assets	$	500,858		$	381,140
LIABILITIES
Borrowings	$	36,487		$	11,231
Other Liabilities	5,731			5,338
Total Liabilities	42,218			16,569
SHAREHOLDERS’ EQUITY
Common Stock	24,967			22,934
Additional Paid-in Capital	229,347			165,288
Retained Earnings	211,424			178,969
Accumulated Other Comprehensive Loss	(7,098		)	(2,620		)
Total Shareholders’ Equity	458,640			364,571
Total Liabilities and Shareholders’ Equity	$	500,858		$	381,140

Condensed Statements of Income and Comprehensive Income

The condensed financial statements of German American Bancorp, Inc. are presented below:

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

	Years Ended December 31,
	2018			2017			2016
INCOME
Dividends from Subsidiaries
Bank	$	7,000		$	25,000		$	15,000
Non-bank	1,200			975			1,000
Interest Income	38			34			20
Other Income (Loss)	(13		)	25			(27		)
Total Income	8,225			26,034			15,993
EXPENSES
Salaries and Employee Benefits	576			533			1,006
Professional Fees	2,079			602			1,096
Occupancy and Equipment Expense	7			7			13
Interest Expense	1,279			877			742
Other Expenses	813			794			750
Total Expenses	4,754			2,813			3,607
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	3,471			23,221			12,386
Income Tax Benefit	1,042			1,415			1,284
INCOME BEFORE EQUITY IN UNDISTRIBUTED INCOME OF SUBSIDIARIES	4,513			24,636			13,670
Equity in Undistributed Income of Subsidiaries	42,016			16,040			21,514
NET INCOME	46,529			40,676			35,184
Other Comprehensive Income:
Changes in Unrealized Gain (Loss) on Securities, Available-for-Sale	(4,424		)	4,391			(10,202		)
Changes in Unrecognized Loss in Postretirement Benefit Obligation, Net	(54		)	(138		)	(14		)
TOTAL COMPREHENSIVE INCOME	$	42,051		$	44,929		$	24,968

Condensed Statements of Cash Flows

The condensed financial statements of German American Bancorp, Inc. are presented below:

CONDENSED STATEMENTS OF CASH FLOWS

	Years Ended December 31,
	2018			2017			2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$	46,529		$	40,676		$	35,184
Adjustments to Reconcile Net Income to Net Cash from Operations
Change in Other Assets	1,588			431			2,085
Change in Other Liabilities	(163		)	(122		)	310
Equity Based Compensation	1,355			1,246			1,407
Excess Tax Benefit from Restricted Share Grant	32			240			200
Equity in Excess Undistributed Income of Subsidiaries	(42,016		)	(16,040		)	(21,514		)
Net Cash from Operating Activities	7,325			26,431			17,672
CASH FLOWS FROM INVESTING ACTIVITIES
Cash Used for Business Acquisitions	(25,160		)	—			(15,992		)
Net Cash from Investing Activities	(25,160		)	—			(15,992		)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Issuance of Long-term Debt	25,000			—			—
Issuance (Retirement) of Common Stock	—			(29		)	55
Dividends Paid	(14,074		)	(11,842		)	(10,630		)
Net Cash from Financing Activities	10,926			(11,871		)	(10,575		)
Net Change in Cash and Cash Equivalents	(6,909		)	14,560			(8,895		)
Cash and Cash Equivalents at Beginning of Year	24,777			10,217			19,112
Cash and Cash Equivalents at End of Year	$	17,868		$	24,777		$	10,217