German American Bancorp, Inc. · NASDAQ:GABC
German American Bancorp — Raymond James Conference 2025
27 slides from German American Bancorp's conference presentation, Sep 2, 2025
Slide 1: Raymond James Conference
Symbol: GABC September 3, 2025 Raymond James Conference German American 1 Scan for electronic presentation
Slide 2: Presented By
Presented By D. Neil Dauby, Chairman and Chief Executive Officer (812) 482-0707 neil.dauby@germanamerican.com Bradley M. Rust, President and CFO (812) 482-0718 brad.rust@germanamerican.com 2
Slide 3: Cautionary Note Regarding Forward-Looking Statements
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS When used in this presentation and our oral statements, the words or phrases “believe,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” or similar expressions are intended to identify “fo
Slide 4: Who We Are
Indiana, Kentucky & Ohio Community-focused Financial Services Organization Who We Are 4 $8.3 Billion Total Banking Assets $3.8 Billion Investment & Trust Assets Under Management ~1050 Team Members 94 Banking Offices in Indiana, Kentucky & Ohio
Slide 5: Our Strategic Position
▪ Out-perform and “out-local” competitors ▪ Build long-term, multi-line client relationships based on trust and customer service excellence ▪ Deliver the right balance of high touch/high tech customer experience ▪ Leverage our diverse, low-cost deposit base for growth and liquidity ▪ Grow non-intere
Slide 6: History of Superior Financial Performance
History of Superior Financial Performance 6 Bank Director Magazine - Top 20 of 300 Largest Publicly Traded Banks for 2017-2018 & 2025 Newsweek Best Banks in America (Indiana) 2020, 2021 & 2024 2022 S&P Global Top 20 Best Performing Banks between $3 and $10 Billion 2023 S&P Global Top 30 Best Perform
Slide 7: Financial Trends
FINANCIAL TRENDS 7
Slide 8: Total Assets and Return on Average Assets
Total Assets 8 $4,978 $5,609 $6,156 $6,152 $6,296 $8,280 1.32% 1.57% 1.26% 1.43% 1.34% 1.48% 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 (dollars in millions, except per share amount) Return on Average Assets * ** **Reflects certain adjustments. Refer to "Use of Non-GAAP Financial Measures
Slide 9: Loan Portfolio Trends
Loan Portfolio Trends 9 58.50% 56.62% 52.07% 56.26% 61.23% 57.06% 31.70% 31.35% 31.86% 31.49% 33.37% 37.81% 43.83% 40.74% 40.04% 39.71% 40.80% 41.39% 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 6/30/2025 Line of Credit Utilization Trend Ag - Line Utilization Commercial - Line Utilization
Slide 10: Diversified Loan Portfolio
Floating 32% Fixed 29% 1 YR Adjustable 12% 3 YR + Adjustable 27% Rate Type Segmentation Diversified Loan Portfolio 10 Construction & Development Loans $ 423.4 million 7% Agricultural Loans $ 473.9 million 8% Commercial & Industrial Loans $ 781.3 million 14% Commerical Real Estate Owner Occupied $ 78
Slide 11: Non-Performing Assets to Total Assets
Non-Performing Assets to Total Assets 11 0.44% 0.26% 0.23% 0.15% 0.18% 0.30% 0.52% 0.34% 0.29% 0.37% 0.49% 0.49% 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 GABC Peer Group * * Peer Group (St. Louis Federal Reserve District BHC with Total Assets between $3 and $10 billion) Data. ** As of 3
Slide 12: Total Deposits
Total Deposits 12 $4,107 $4,744 $5,350 $5,253 $5,329 $6,955 88% 93% 92% 85% 83% 81% 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 Non-Maturity Deposit Accounts as % of Total Deposits (dollars in millions) 2020 0.35% 2021 0.11% 2022 0.24% 2023 1.10% 2024 1.71% Cost of Deposits Per Year Cost o
Slide 13: Total Deposit Composition
Commercial $2,382 million 34% Public Fund $1,321 million 19% Retail $3,252 million 47% 13 Total Deposit Composition as of 06/30/2025 Total Deposits $6,955 million24% of Total Deposits are Uninsured and Uncollateralized as of 6/30/2025. Average Deposit Account Size equals $27,665. Non-Interest Bearin
Slide 14: Total Shareholders' Equity
Total Shareholders' Equity 14 $625 $668 $558 $664 $715 $1,070 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 06/30/25 (dollars in millions) * *Reflects certain adjustments. Refer to "Use of Non-GAAP Financial Measures" for additional information, including a reconciliation to the comparable GAAP finan
Slide 15: Regulatory Capital Levels
Regulatory Capital Levels 15 15.21% 13.53% 13.00% 10.93% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 20.00% Total Capital (to Risk Weighted Assets) Tier 1 (Core) Capital (to Risk Weighted Assets) Common Tier 1 (CET 1) Capital Ratio (to Risk Weighted Assets) Tier 1 Capital (to Av
Slide 16: Net Interest Income and Net Interest Margin
Net Interest Income 16 $155,243 $160,830 $200,584 $190,433 $190,591 $90,965 $139,727 3.63% 3.31% 3.45% 3.58% 3.43% 3.34% 3.94% 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 06/30/24 06/30/25 Net Interest Margin (Tax-Equivalent) (dollars in thousands)
Slide 17: Non-Interest Income
Non-Interest Income 17 As of June 30, 2025 $54,474 $59,462 $59,133 $60,261 $62,660 $29,805 $31,573 26% 27% 23% 24% 25% 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 06/30/24 06/30/25 Non-Interest Income as % of Total Revenue (dollars in thousands) * *Reflects certain adjustments. Refer to "Use of Non
Slide 18: Non-Interest Expense and Efficiency Ratio
Non-Interest Expense 18 $117,123 $124,007 $154,191 $144,497 $146,377 $70,941 $95,438 54.3% 54.4% 56.6% 55.1% 49.2% 56.3% 52.1% 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 06/30/24 06/30/25 Efficiency Ratio * 2022 was impacted by acquisition-related expenses for the CUB transaction that closed on Ja
Slide 19: Net Income & Earnings Per Share
Net Income & Earnings Per Share 19 $62,210 $84,137 $81,825 $85,888 $83,811 $39,373 $59,345 $2.34 $3.17 $2.78 $2.91 $2.83 $1.33 $1.64 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 06/30/24 06/30/25 Earnings Per Share * 2022 was impacted by acquisition-related expenses and the Day 2 provision for credi
Slide 20: Why Invest in GABC? Earnings Per Share Growth
Why Invest in GABC? 20 $1.07 $1.27 $1.32 $1.43 $1.51 $1.57 $1.77 $1.99 $2.29 $2.34 $3.17 $2.78 $2.91 $2.83 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 As of 12/31 for years shown * Earnings Per Share adjusted for 3-for-2 stock split completed in 2017 ***** *** GABC Earnings
Slide 21: Why Invest in GABC? Cash Dividend Growth
Why Invest in GABC? 21 $0.40 $0.43 $0.45 $0.48 $0.52 $0.60 $0.68 $0.76 $0.84 $0.92 $1.00 $1.08 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 *Dividends per share adjusted for 3-for-2 stock split completed in 2017 As of 12/31 for years shown * * * * Cash Dividend Growth
Slide 22: Why Invest in GABC?
Why Invest in GABC? 22 Diversified Footprint of Rural, Suburban, and Urban Markets Providing a Strong Deposit Franchise Base Along with Significant Organic Growth Opportunities Existing Platform for Continuous Improvement and Operating Efficiency Infrastructure in Place for Perpetuating Ongoing EPS
Slide 23: Use of Non-GAAP Financial Measures
USE OF NON-GAAP FINANCIAL MEASURES The accounting and reporting policies of German American Bancorp, Inc. (the “Company”) conform to U.S. generally accepted accounting principles (“GAAP”) and general practices within the banking industry. As a supplement to GAAP, the Company has provided certain, no
Slide 24: Non-GAAP Reconciliation – Return on Average Assets
USE OF NON-GAAP FINANCIAL MEASURES 24 Non-GAAP Reconciliation – Return on Average Assets (Dollars in Thousands) 6/30/2024 6/30/2025 6/30/2024 6/30/2025 Net Income, as reported $ 20,530 $ 31,361 $ 39,552 $ 41,878 Adjustments: Plus: CECL Day 2 non-PCD provision - - - 12,150 Plus: Non-recurring merger-
Slide 25: Non-GAAP Reconciliation – Efficiency Ratio
USE OF NON-GAAP FINANCIAL MEASURES 25 Non-GAAP Reconciliation – Efficiency Ratio (Dollars in Thousands) 6/30/2024 6/30/2025 6/30/2024 6/30/2025 Non-Interest Expense $ 37,674 $ 49,517 $ 74,412 $ 102,299 Less: Non-recurring merger-related expenses 425 929 425 6,861 Less: Expense from GAI operations 1,
Slide 26: Non-GAAP Reconciliation – Net Interest Margin
USE OF NON-GAAP FINANCIAL MEASURES 26 Non-GAAP Reconciliation – Net Interest Margin (Dollars in Thousands) 6/30/2024 6/30/2025 6/30/2024 6/30/2025 Net Interest Income (FTE) from above $ 47,497 $ 74,425 $ 94,136 $ 142,316 Less: Accretion of Discount on Acquired Loans 293 3,483 653 7,675 Adjusted Net
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