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Zachary W. Bawel, a director at German American Bancorp, Inc. (NASDAQ:GABC), recently purchased shares of the company’s common stock. According to a Form 4 filing with the Securities and Exchange Commission, Bawel acquired 175.59 shares at a price of $40.35 per share, resulting in a total transaction value of approximately $7,085. The $1.18 billion market cap bank currently offers a 2.89% dividend yield and has maintained dividend payments for 33 consecutive years.
This transaction was conducted as part of a prior election by Bawel to use a portion of his director compensation to purchase shares through the company’s Dividend Reinvestment and Stock Purchase Plan. Following this acquisition, Bawel’s direct ownership in German American Bancorp stands at 20,650.68 shares. Trading at a P/E ratio of 14.07, InvestingPro analysis suggests the stock is currently undervalued, with additional insights available through their premium service.
In other recent news, German American Bancorp, Inc. announced that it has received final regulatory approval for its merger with Heartland BancCorp (OTC:HLAN). This marks the completion of the regulatory process, with endorsements from the Indiana Department of Financial Institutions, the Federal Deposit Insurance Corporation, and a waiver from the Federal Reserve Board of Governors. Shareholders from both companies had previously approved the merger, which is anticipated to become effective on February 1, 2025, pending customary closing conditions. The merger is expected to enhance the market presence and operational scale of the combined entity.
Additionally, German American Bancorp disclosed the resignation of Thomas W. Seger from its Board of Directors, effective December 31, 2024. Seger, who served on the Board for over 14 years, stepped down to provide greater flexibility in future director appointments amid the upcoming merger. The company has accelerated the vesting of Seger’s restricted stock as part of this transition. These developments are part of the company’s recent filings with the Securities and Exchange Commission, highlighting the strategic steps taken in anticipation of the merger with Heartland BancCorp.
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