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Susan J. Ellspermann, a director at German American Bancorp, Inc. (NASDAQ:GABC), a $1.18 billion regional bank with a 33-year track record of consistent dividend payments, recently purchased shares of the company, according to a Form 4 filing with the Securities and Exchange Commission. On February 15, Ellspermann acquired 42.0427 shares of common stock at a price of $40.35 per share, amounting to a total transaction value of approximately $1,696.
The transaction was executed as part of a prior election by Ellspermann to use a portion of her director compensation to purchase shares through the company’s Dividend Reinvestment and Stock Purchase Plan, which currently yields 2.89%. Following this acquisition, Ellspermann now directly owns 8,704.1153 shares of German American Bancorp. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available including 6 key ProTips about the company’s financial health and growth prospects.
In other recent news, German American Bancorp has received final regulatory approval for its merger with Heartland BancCorp (OTC:HLAN), marking a significant step toward the completion of this strategic consolidation. The merger, which was initially announced in July 2024, has already been approved by shareholders and is expected to become effective on February 1, 2025, pending the fulfillment of customary closing conditions. This development follows the receipt of necessary endorsements from the Federal Deposit Insurance Corporation and a waiver from the Federal Reserve Board of Governors. Additionally, German American Bancorp announced the resignation of Thomas W. Seger from its Board of Directors, effective December 31, 2024, as part of its transition strategy related to the merger. Mr. Seger’s resignation was not due to any disagreements with the company’s operations and was aimed at providing greater flexibility for future director appointments. The company has also accelerated the vesting of Mr. Seger’s restricted stock as part of this transition. These recent developments were disclosed in filings with the Securities and Exchange Commission, highlighting potential benefits and risks associated with the merger. Investors and stakeholders are advised to review the relevant SEC filings for further details.
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