GAB reports quarterly financial results
May 7, 2020From Local Sources
JASPER — German American Bancorp Inc. reported quarterly earnings of $12.5 million, or $0.47 per share, for the quarter ending on March 31.
The quarterly earnings performance was inclusive of a $5.2 million provision for loan losses as the company increased its allowance for loan losses in anticipation of the expected economic downturn related to the COVID-19 pandemic.
The first quarter 2020 performance compared to fourth quarter 2019 net income of $15.8 million, or $0.59 per share, and to first quarter 2019 net income of $15.1 million, or $0.60 per share.
See the full financial report online at ir.germanamerican.com/News.
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