v3.25.4
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
​
Year
​ ​
Summary
compensation
table total for
PEO (1)
($)
​ ​
Compensation
actually paid to
PEO (2)
($)
​ ​
Average
summary
compensation
table total for
non-PEO named
executive
officers (1)
($)
​ ​
Average
compensation
actually paid to
non-PEO named
executive
officers (2)
($)
​ ​
Value of initial fixed $100
investment based on:
​ ​
Net income (5)
($ Thousands)
​ ​
3-Year
Average
Growth in
Adjusted
Earnings
per Share (6)
​
​
Total
shareholder
return (3)
($)
​ ​
Peer
group
total
shareholder
return (4)
($)
​
​
(a)
​ ​
(b)
​ ​
(c)
​ ​
(d)
​ ​
(e)
​ ​
(f)
​ ​
(g)
​ ​
(h)
​ ​
(i)
​
​
2025
​ ​ ​ ​ 2,068,536 ​ ​ ​ ​ ​ 1,923,948 ​ ​ ​ ​ ​ 926,130 ​ ​ ​ ​ ​ 861,670 ​ ​ ​ ​ ​ 135.90 ​ ​ ​ ​ ​ 145.48 ​ ​ ​ ​ ​ 112,635 ​ ​ ​ ​ ​ 4.4% ​ ​
​
2024
​ ​ ​ ​ 1,661,490 ​ ​ ​ ​ ​ 1,872,852 ​ ​ ​ ​ ​ 749,252 ​ ​ ​ ​ ​ 823,423 ​ ​ ​ ​ ​ 135.44 ​ ​ ​ ​ ​ 131.50 ​ ​ ​ ​ ​ 83,811 ​ ​ ​ ​ ​ (2.9)% ​ ​
​
2023
​ ​ ​ ​ 1,418,115 ​ ​ ​ ​ ​ 1,344,065 ​ ​ ​ ​ ​ 687,175 ​ ​ ​ ​ ​ 637,832 ​ ​ ​ ​ ​ 105.92 ​ ​ ​ ​ ​ 110.40 ​ ​ ​ ​ ​ 85,888 ​ ​ ​ ​ ​ 9.2% ​ ​
​
2022
​ ​ ​ ​ 1,374,051 ​ ​ ​ ​ ​ 1,196,188 ​ ​ ​ ​ ​ 689,558 ​ ​ ​ ​ ​ 624,348 ​ ​ ​ ​ ​ 117.97 ​ ​ ​ ​ ​ 119.26 ​ ​ ​ ​ ​ 81,825 ​ ​ ​ ​ ​ 13.5% ​ ​
​
2021
​ ​ ​ ​ 1,626,579 ​ ​ ​ ​ ​ 1,518,365 ​ ​ ​ ​ ​ 801,437 ​ ​ ​ ​ ​ 726,260 ​ ​ ​ ​ ​ 120.33 ​ ​ ​ ​ ​ 139.90 ​ ​ ​ ​ ​ 84,137 ​ ​ ​ ​ ​ 17.6% ​ ​
(1)
Amounts represent “Summary Compensation Table” totals for our principal executive officers (“PEOs”) and the average “Summary Compensation Table” totals for our remaining NEOs for the relevant fiscal year, which includes the individuals indicated in the table below for each fiscal year:
​
​
Year
​ ​
PEO
​ ​
Non-PEO NEOS
​
​ 2025 ​ ​ D. Neil Dauby ​ ​ Bradley M. Rust, Michael F. Beckwith, Amy D. Jackson and Bradley C. Arnett ​
​ 2024 ​ ​ D. Neil Dauby ​ ​ Bradley M. Rust, Michael F. Beckwith, Amy D. Jackson and Bradley C. Arnett ​
​ 2023 ​ ​ D. Neil Dauby ​ ​
Bradley M. Rust, Keith A. Leinenbach, Michael F. Beckwith, Amy D. Jackson and Clay M. Barrett
​
​ 2022 ​ ​ D. Neil Dauby ​ ​ Bradley M. Rust, Randall L. Braun, Keith A. Leinenbach, Amy D. Jackson and Clay M. Barrett ​
​ 2021 ​ ​
Mark A. Schroeder
​ ​ D. Neil Dauby, Bradley M. Rust, Randall L. Braun and Keith A. Leinenbach ​
(2)
Amounts represent compensation actually paid to our PEOs and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table in footnote (1) above.
​
The tables below provide the adjustments to the Summary Compensation Table (“SCT”) total compensation made to arrive at the compensation actually paid for the PEO and the average for Non-PEO NEOs for the fiscal years indicated:
​
PEO — Adjustments to Arrive at Compensation Actually Paid
​
​
Description
​ ​
2025
​ ​
2024
​ ​
2023
​ ​
2022
​ ​
2021
​
​
Deduct the amounts reported in the SCT for “stock awards” ​(column (e)) and “option awards” ​(column (f))
​ ​ ​ ​ (517,464) ​ ​ ​ ​ ​ (397,116) ​ ​ ​ ​ ​ (423,754) ​ ​ ​ ​ ​ (403,122) ​ ​ ​ ​ ​ (421,906) ​ ​
​
Add the fair value (“FV”) as of the end of the applicable FY of all awards
granted during such FY that are outstanding and unvested as of the end of
the FY
​ ​ ​ ​ 402,457 ​ ​ ​ ​ ​ 534,443 ​ ​ ​ ​ ​ 384,609 ​ ​ ​ ​ ​ 227,679 ​ ​ ​ ​ ​ 286,776 ​ ​
​
Add/Deduct the change as of the end of the applicable FY (from the end of
the prior FY) in FV of any awards granted in any prior FY that are
outstanding and unvested as of the end of such FY
​ ​ ​ ​ (13,327) ​ ​ ​ ​ ​ 77,670 ​ ​ ​ ​ ​ (24,792) ​ ​ ​ ​ ​ (3,367) ​ ​ ​ ​ ​ 10,390 ​ ​
​
Add/Deduct the change as of the vesting date (from the end of the prior FY) in FV of any awards granted in any prior FY for which all applicable vesting conditions were satisfied at the end of or during the applicable FY
​ ​ ​ ​ (16,254) ​ ​ ​ ​ ​ (3,636) ​ ​ ​ ​ ​ (10,113) ​ ​ ​ ​ ​ 947 ​ ​ ​ ​ ​ 16,526 ​ ​
​
Total
​ ​ ​ ​ (144,588) ​ ​ ​ ​ ​ 211,362 ​ ​ ​ ​ ​ (74,050) ​ ​ ​ ​ ​ (177,863) ​ ​ ​ ​ ​ (108,214) ​ ​
​
Non-PEO NEOS — Adjustments to Arrive at Compensation Actually Paid
​
​
Description
​ ​
2025
​ ​
2024
​ ​
2023
​ ​
2022
​ ​
2021
​
​
Deduct the amounts reported in the SCT for “stock awards” ​(column (e)) and “option awards” ​(column (f))
​ ​ ​ ​ (200,535) ​ ​ ​ ​ ​ (146,512) ​ ​ ​ ​ ​ (169,846) ​ ​ ​ ​ ​ (168,145) ​ ​ ​ ​ ​ (187,585) ​ ​
​
Add the fair value (“FV”) as of the end of the applicable FY of all awards
granted during such FY that are outstanding and unvested as of the end of
the FY
​ ​ ​ ​ 148,482 ​ ​ ​ ​ ​ 195,731 ​ ​ ​ ​ ​ 138,611 ​ ​ ​ ​ ​ 106,946 ​ ​ ​ ​ ​ 105,899 ​ ​
​
Add/Deduct the change as of the end of the applicable FY (from the end of
the prior FY) in FV of any awards granted in any prior FY that are
outstanding and unvested as of the end of such FY
​ ​ ​ ​ (4,235) ​ ​ ​ ​ ​ 20,716 ​ ​ ​ ​ ​ (8,905) ​ ​ ​ ​ ​ (1,908) ​ ​ ​ ​ ​ 3,725 ​ ​
​
Add/Deduct the change as of the vesting date (from the end of the prior FY) in FV of any awards granted in any prior FY for which all applicable vesting conditions were satisfied at the end of or during the applicable FY
​ ​ ​ ​ (4,423) ​ ​ ​ ​ ​ 7,838 ​ ​ ​ ​ ​ (6,434) ​ ​ ​ ​ ​ 557 ​ ​ ​ ​ ​ 5,979 ​ ​
​
Deduct aggregate change in the Actuarial Present Values reported under the “Change in Pension Value” Column of the SCT
​ ​ ​ ​ (3,749) ​ ​ ​ ​ ​ (3,602) ​ ​ ​ ​ ​ (2,769) ​ ​ ​ ​ ​ (2,660) ​ ​ ​ ​ ​ (3,195) ​ ​
​
Total
​ ​ ​ ​ (64,460) ​ ​ ​ ​ ​ 74,171 ​ ​ ​ ​ ​ (49,343) ​ ​ ​ ​ ​ (65,210) ​ ​ ​ ​ ​ (75,177) ​ ​
(3)
For the relevant fiscal year, represents the cumulative total shareholder return (“TSR”) of German American Bancorp, Inc. for the measurement periods ending on December 31 of each of 2025, 2024, 2023, 2022 and 2021, respectively.
​
(4)
For the relevant fiscal year, represents the cumulative TSR of the S&P Regional Banks Select Industry Index (“Peer Group TSR”) for the measurement periods ending on December 31 of each of 2025, 2024, 2023, 2022 and 2021, respectively.
​
(5)
Reflects “Net Income” in the company’s Consolidated Income Statements included in the Company’s Annual Reports on Form 10-K for each of the years ended December 31, 2025, 2024, 2023, 2022 and 2021.
​
(6)
The Company-Selected Measure is 3-Year Average Growth in Adjusted Earnings per Share. This measure is the average of the Company’s annual growth in adjusted EPS for each year in the 3-year period ending with the listed fiscal year. For the years indicated below, the Company’s annual GAAP net income (which is the basis for EPS) was adjusted to eliminate the after-tax impact of the indicated items, which are deemed unrepresentative of the Company’s core operating performance:
2022: Non-recurring expenses resulting from the Company’s merger with Citizens Union Bancorp of Shelbyville, Inc.
​
●
2024: The gain on the Company’s sale of its insurance agency, the loss on its securities portfolio restructuring, and the merger-related transactions costs incurred in connection with the Heartland BancCorp (“Heartland”) merger.
​
●
2025: The CECL “Day 2” provision expense for acquired loans that have only insignificant credit deterioration (i.e., non-PCD loans) related to the Heartland merger; non-recurring expenses related to the Heartland merger; and the net gain on the extinguishment of debt resulting from the redemption of certain subordinated notes on September 15, 2025 and December 30, 2025.
       
Company Selected Measure Name 3-Year Average Growth in Adjusted Earnings per Share        
Named Executive Officers, Footnote
(1)
Amounts represent “Summary Compensation Table” totals for our principal executive officers (“PEOs”) and the average “Summary Compensation Table” totals for our remaining NEOs for the relevant fiscal year, which includes the individuals indicated in the table below for each fiscal year:
​
​
Year
​ ​
PEO
​ ​
Non-PEO NEOS
​
​ 2025 ​ ​ D. Neil Dauby ​ ​ Bradley M. Rust, Michael F. Beckwith, Amy D. Jackson and Bradley C. Arnett ​
​ 2024 ​ ​ D. Neil Dauby ​ ​ Bradley M. Rust, Michael F. Beckwith, Amy D. Jackson and Bradley C. Arnett ​
​ 2023 ​ ​ D. Neil Dauby ​ ​
Bradley M. Rust, Keith A. Leinenbach, Michael F. Beckwith, Amy D. Jackson and Clay M. Barrett
​
​ 2022 ​ ​ D. Neil Dauby ​ ​ Bradley M. Rust, Randall L. Braun, Keith A. Leinenbach, Amy D. Jackson and Clay M. Barrett ​
​ 2021 ​ ​
Mark A. Schroeder
​ ​ D. Neil Dauby, Bradley M. Rust, Randall L. Braun and Keith A. Leinenbach ​
       
Peer Group Issuers, Footnote
(4)
For the relevant fiscal year, represents the cumulative TSR of the S&P Regional Banks Select Industry Index (“Peer Group TSR”) for the measurement periods ending on December 31 of each of 2025, 2024, 2023, 2022 and 2021, respectively.
       
PEO Total Compensation Amount $ 2,068,536 $ 1,661,490 $ 1,418,115 $ 1,374,051 $ 1,626,579
PEO Actually Paid Compensation Amount $ 1,923,948 1,872,852 1,344,065 1,196,188 1,518,365
Adjustment To PEO Compensation, Footnote
(2)
Amounts represent compensation actually paid to our PEOs and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table in footnote (1) above.
​
The tables below provide the adjustments to the Summary Compensation Table (“SCT”) total compensation made to arrive at the compensation actually paid for the PEO and the average for Non-PEO NEOs for the fiscal years indicated:
​
PEO — Adjustments to Arrive at Compensation Actually Paid
​
​
Description
​ ​
2025
​ ​
2024
​ ​
2023
​ ​
2022
​ ​
2021
​
​
Deduct the amounts reported in the SCT for “stock awards” ​(column (e)) and “option awards” ​(column (f))
​ ​ ​ ​ (517,464) ​ ​ ​ ​ ​ (397,116) ​ ​ ​ ​ ​ (423,754) ​ ​ ​ ​ ​ (403,122) ​ ​ ​ ​ ​ (421,906) ​ ​
​
Add the fair value (“FV”) as of the end of the applicable FY of all awards
granted during such FY that are outstanding and unvested as of the end of
the FY
​ ​ ​ ​ 402,457 ​ ​ ​ ​ ​ 534,443 ​ ​ ​ ​ ​ 384,609 ​ ​ ​ ​ ​ 227,679 ​ ​ ​ ​ ​ 286,776 ​ ​
​
Add/Deduct the change as of the end of the applicable FY (from the end of
the prior FY) in FV of any awards granted in any prior FY that are
outstanding and unvested as of the end of such FY
​ ​ ​ ​ (13,327) ​ ​ ​ ​ ​ 77,670 ​ ​ ​ ​ ​ (24,792) ​ ​ ​ ​ ​ (3,367) ​ ​ ​ ​ ​ 10,390 ​ ​
​
Add/Deduct the change as of the vesting date (from the end of the prior FY) in FV of any awards granted in any prior FY for which all applicable vesting conditions were satisfied at the end of or during the applicable FY
​ ​ ​ ​ (16,254) ​ ​ ​ ​ ​ (3,636) ​ ​ ​ ​ ​ (10,113) ​ ​ ​ ​ ​ 947 ​ ​ ​ ​ ​ 16,526 ​ ​
​
Total
​ ​ ​ ​ (144,588) ​ ​ ​ ​ ​ 211,362 ​ ​ ​ ​ ​ (74,050) ​ ​ ​ ​ ​ (177,863) ​ ​ ​ ​ ​ (108,214) ​ ​
       
Non-PEO NEO Average Total Compensation Amount $ 926,130 749,252 687,175 689,558 801,437
Non-PEO NEO Average Compensation Actually Paid Amount $ 861,670 823,423 637,832 624,348 726,260
Adjustment to Non-PEO NEO Compensation Footnote
(2)
Amounts represent compensation actually paid to our PEOs and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table in footnote (1) above.
​
The tables below provide the adjustments to the Summary Compensation Table (“SCT”) total compensation made to arrive at the compensation actually paid for the PEO and the average for Non-PEO NEOs for the fiscal years indicated:
​
Non-PEO NEOS — Adjustments to Arrive at Compensation Actually Paid
​
​
Description
​ ​
2025
​ ​
2024
​ ​
2023
​ ​
2022
​ ​
2021
​
​
Deduct the amounts reported in the SCT for “stock awards” ​(column (e)) and “option awards” ​(column (f))
​ ​ ​ ​ (200,535) ​ ​ ​ ​ ​ (146,512) ​ ​ ​ ​ ​ (169,846) ​ ​ ​ ​ ​ (168,145) ​ ​ ​ ​ ​ (187,585) ​ ​
​
Add the fair value (“FV”) as of the end of the applicable FY of all awards
granted during such FY that are outstanding and unvested as of the end of
the FY
​ ​ ​ ​ 148,482 ​ ​ ​ ​ ​ 195,731 ​ ​ ​ ​ ​ 138,611 ​ ​ ​ ​ ​ 106,946 ​ ​ ​ ​ ​ 105,899 ​ ​
​
Add/Deduct the change as of the end of the applicable FY (from the end of
the prior FY) in FV of any awards granted in any prior FY that are
outstanding and unvested as of the end of such FY
​ ​ ​ ​ (4,235) ​ ​ ​ ​ ​ 20,716 ​ ​ ​ ​ ​ (8,905) ​ ​ ​ ​ ​ (1,908) ​ ​ ​ ​ ​ 3,725 ​ ​
​
Add/Deduct the change as of the vesting date (from the end of the prior FY) in FV of any awards granted in any prior FY for which all applicable vesting conditions were satisfied at the end of or during the applicable FY
​ ​ ​ ​ (4,423) ​ ​ ​ ​ ​ 7,838 ​ ​ ​ ​ ​ (6,434) ​ ​ ​ ​ ​ 557 ​ ​ ​ ​ ​ 5,979 ​ ​
​
Deduct aggregate change in the Actuarial Present Values reported under the “Change in Pension Value” Column of the SCT
​ ​ ​ ​ (3,749) ​ ​ ​ ​ ​ (3,602) ​ ​ ​ ​ ​ (2,769) ​ ​ ​ ​ ​ (2,660) ​ ​ ​ ​ ​ (3,195) ​ ​
​
Total
​ ​ ​ ​ (64,460) ​ ​ ​ ​ ​ 74,171 ​ ​ ​ ​ ​ (49,343) ​ ​ ​ ​ ​ (65,210) ​ ​ ​ ​ ​ (75,177) ​ ​
       
Compensation Actually Paid vs. Total Shareholder Return
[MISSING IMAGE: bc_peopaidvstsr-pn.jpg]
       
Compensation Actually Paid vs. Net Income
[MISSING IMAGE: bc_peopaidvsnetincome-pn.jpg]
       
Compensation Actually Paid vs. Company Selected Measure
[MISSING IMAGE: bc_peopaidvseps-pn.jpg]
       
Total Shareholder Return Vs Peer Group
[MISSING IMAGE: lc_companypeergrouptsr-pn.jpg]
       
Tabular List, Table
The most important financial performance measures used by the Company in 2025 to set the compensation for its PEO (i.e., our Chairman and Chief Executive Officer), and all of its non-PEO Named Executive Officers are listed below:
●
3-Year Average Growth in Adjusted Earnings per Share.
​
●
3-Year Average Adjusted Return on Average Equity.
​
●
3-Year Average Adjusted Return on Average Assets.
​
●
Net Income.
       
Total Shareholder Return Amount $ 135.9 135.44 105.92 117.97 120.33
Peer Group Total Shareholder Return Amount 145.48 131.5 110.4 119.26 139.9
Net Income (Loss) $ 112,635,000 $ 83,811,000 $ 85,888,000 $ 81,825,000 $ 84,137,000
Company Selected Measure Amount 4.4 (2.9) 9.2 13.5 17.6
PEO Name D. Neil Dauby        
Measure:: 1          
Pay vs Performance Disclosure          
Name 3-Year Average Growth in Adjusted Earnings per Share        
Non-GAAP Measure Description
(6)
The Company-Selected Measure is 3-Year Average Growth in Adjusted Earnings per Share. This measure is the average of the Company’s annual growth in adjusted EPS for each year in the 3-year period ending with the listed fiscal year. For the years indicated below, the Company’s annual GAAP net income (which is the basis for EPS) was adjusted to eliminate the after-tax impact of the indicated items, which are deemed unrepresentative of the Company’s core operating performance:
2022: Non-recurring expenses resulting from the Company’s merger with Citizens Union Bancorp of Shelbyville, Inc.
​
●
2024: The gain on the Company’s sale of its insurance agency, the loss on its securities portfolio restructuring, and the merger-related transactions costs incurred in connection with the Heartland BancCorp (“Heartland”) merger.
​
●
2025: The CECL “Day 2” provision expense for acquired loans that have only insignificant credit deterioration (i.e., non-PCD loans) related to the Heartland merger; non-recurring expenses related to the Heartland merger; and the net gain on the extinguishment of debt resulting from the redemption of certain subordinated notes on September 15, 2025 and December 30, 2025.
       
Measure:: 2          
Pay vs Performance Disclosure          
Name 3-Year Average Adjusted Return on Average Equity.        
Measure:: 3          
Pay vs Performance Disclosure          
Name 3-Year Average Adjusted Return on Average Assets        
Measure:: 4          
Pay vs Performance Disclosure          
Name Net Income        
PEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (144,588) $ 211,362 $ (74,050) $ (177,863) $ (108,214)
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (517,464) (397,116) (423,754) (403,122) (421,906)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 402,457 534,443 384,609 227,679 286,776
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (13,327) 77,670 (24,792) (3,367) 10,390
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (16,254) (3,636) (10,113) 947 16,526
Non-PEO NEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (64,460) 74,171 (49,343) (65,210) (75,177)
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (200,535) (146,512) (169,846) (168,145) (187,585)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 148,482 195,731 138,611 106,946 105,899
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,235) 20,716 (8,905) (1,908) 3,725
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,423) 7,838 (6,434) 557 5,979
Non-PEO NEO | Pension Adjustments Pension Value In Summary Compensation Table [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (3,749) $ (3,602) $ 2,769 $ 2,660 $ 3,195