German American Bancorp reports Q3 EPS 71c, consensus 70c

Net interest income for the third quarter of 2024 increased $2.6M, or 6%, over linked second quarter net interest income. Net interest margin for the third quarter of 3.47% expanded by 13 basis points compared to linked second quarter 2024 of 3.34% as the earning asset yield increase of 15 basis points nicely outpaced a modest funding cost increase of 2 basis points. D. Neil Dauby, German American’s Chairman & CEO stated, “We are extremely pleased to deliver yet another solid quarter of operating performance as German American positions itself for continued future growth. We are extremely excited about the long-term growth potential in connection with a normalizing yield curve, and the Company’s pending merger with Heartland BancCorp.”