German American Bank entering Evansville-Newburgh market

Posted by Rich Miller - email

JASPER, IN (WFIE) - German American Bancorp's banking subsidiary has agreed to purchase two Farmers State Bank offices in Evansville.

The transaction will allow the Jasper-based company to expand to the Evansville and Warrick County areas. The proposed transaction, which is subject to the approval of bank regulatory authorities and other conditions, is expected to be effective within the next 60 to 90 days.

"The addition of these locations provides an ideal entry point to expand our existing footprint and build a major presence in Evansville's growing market," said Mark Schroeder, Chairman and Chief Executive Officer of German American. "As a southern-Indiana-based community-focused banking and financial services company, we already have clients in the Evansville metropolitan market and understand the potential growth this market can provide."

With the addition of the Evansville locations, German American will operate 30 banking offices in 12 southern Indiana counties.

We are pleased to complete this transaction with German American," said Thomas W. Franks, Chairman of Farmers State Bank. "While our entry into the Evansville market as an Illinois domiciled bank has been very successful, this transaction will allow our clients to work directly with German American, while enabling us to focus on the expansion of our southern-Illinois-based operations.  I would like to personally thank the citizens of Vanderburgh and Warrick Counties for their tremendous support and assure them they will be in great hands with German American."

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