German American Bancorp, Inc. announces the sale of the assets of German American Insurance, Inc. to Hilb Group [Yahoo! Finance]
German American Bancorp, Inc. (GABC)
Last german american bancorp, inc. earnings: 1/27 05:00 pm
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Source: Yahoo! Finance
its wholly-owned subsidiary German American Insurance (GAI) to Hilb Group, an industry-leading insurance broker. The all-cash transaction is for $40 million, and creates a significant after-tax gain, net of transaction costs, of approximately $27 million. The purchase price represents approximately four times 2023 GAI revenues and approximately 24 times 2023 GAI after-tax earnings. “Our decision to partner with Hilb Group for this transaction ensures the continued access to the best insurance products and services for our customers and provides a great new home for GAI's employees,” said D. Neil Dauby, Chairman and CEO of German American Bancorp, Inc. “This sale allows us to realize significant value at an opportune time. The GAI team has done a tremendous job building the agency in the last 25 years, and we are confident the expanded access to products, services and expertise through Hilb Group will support a strong future for all.” As part of the transaction, German American Ins
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GABC
News
- German American Bancorp Insiders Placed Bullish Bets Worth US$2.59m [Yahoo! Finance]Yahoo! Finance
- German American Bancorp, Inc. announces the sale of the assets of German American Insurance, Inc. to Hilb GroupGlobeNewswire
- German American Bancorp, Inc. (NASDAQ: GABC) had its price target raised by analysts at Hovde Group from $33.00 to $34.00. They now have a "market perform" rating on the stock.MarketBeat
- German American Bancorp, Inc.'s (NASDAQ:GABC) institutional investors lost 5.6% last week but have benefitted from longer-term gains [Yahoo! Finance]Yahoo! Finance
- German American Bank Earns Top Community Bank Recognitions from Forbes and Raymond James [Yahoo! Finance]Yahoo! Finance
GABC
Earnings
- 4/29/24 - In-Line
GABC
Sec Filings
- 6/26/24 - Form 4
- 6/26/24 - Form 4
- 6/26/24 - Form 4
- GABC's page on the SEC website