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Segment Information
6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
 
The Company’s operations include three primary segments: core banking, wealth management services, and insurance operations. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Company’s local markets. The core banking segment also involves the sale of residential mortgage loans in the secondary market. The wealth management segment involves providing trust, investment advisory, brokerage and retirement planning services to customers. The insurance segment offers a full range of personal and corporate property and casualty insurance products, primarily in the Company’s banking subsidiary’s local markets.
 
The core banking segment is comprised by the Company’s banking subsidiary, German American Bank, which operated through 68 banking offices at June 30, 2021. Net interest income from loans and investments funded by deposits and borrowings is the primary revenue for the core-banking segment. The wealth management segment’s revenues are comprised primarily of fees generated by the trust operations of the Company's banking subsidiary and by German American Investment Services, Inc. These fees are derived by providing trust, investment advisory, brokerage and retirement planning services to its customers. The insurance segment primarily consists of German American Insurance, Inc., which provides a full line of personal and corporate insurance products. Commissions derived from the sale of insurance products are the primary source of revenue for the insurance segment.

The following segment financial information has been derived from the internal financial statements of the Company which are used by management to monitor and manage financial performance. The accounting policies of the three segments are the same as those of the Company. The evaluation process for segments does not include holding company income and expense. Holding company amounts are the primary differences between segment amounts and consolidated totals, and are reflected in the column labeled “Other” below, along with amounts to eliminate transactions between segments.
 Core
Banking
Wealth Management ServicesInsuranceOtherConsolidated Totals
Three Months Ended     
June 30, 2021    
Net Interest Income$40,521 $13 $$(657)$39,880 
Net Gains on Sales of Loans2,018 — — — 2,018 
Net Gains on Securities300 — — — 300 
Trust and Investment Product Fees2,618 — — 2,620 
Insurance Revenues2,014 — 2,020 
Noncash Items:
Provision for Credit Losses(5,000)— — — (5,000)
Depreciation and Amortization2,148 11 14 81 2,254 
Income Tax Expense (Benefit)6,056 199 101 (433)5,923 
Segment Profit (Loss)23,309 619 314 (420)23,822 
Segment Assets at June 30, 20215,334,299 5,306 12,240 (3,276)5,348,569 
 
 Core
Banking
Wealth Management ServicesInsuranceOtherConsolidated Totals
Three Months Ended     
June 30, 2020     
Net Interest Income$39,157 $$$(705)$38,459 
Net Gains on Sales of Loans2,654 — — — 2,654 
Net Gains on Securities993 — — — 993 
Trust and Investment Product Fees— 1,867 — — 1,867 
Insurance Revenues10 1,818 — 1,830 
Noncash Items:
Provision for Credit Losses5,900 — — — 5,900 
Depreciation and Amortization2,268 17 81 2,367 
Income Tax Expense (Benefit)3,126 111 40 (638)2,639 
Segment Profit (Loss)14,098 336 127 (306)14,255 
Segment Assets at December 31, 20204,963,655 4,480 10,263 (821)4,977,577 


 Core
Banking
Wealth Management ServicesInsuranceOtherConsolidated Totals
Six Months Ended     
June 30, 2021    
Net Interest Income$80,103 $21 $$(1,317)$78,812 
Net Gains on Sales of Loans4,220 — — — 4,220 
Net Gains on Securities1,275 — — — 1,275 
Trust and Investment Product Fees4,975 — — 4,978 
Insurance Revenues5,302 — 5,312 
Noncash Items:
Provision for Credit Losses(6,500)— — — (6,500)
Depreciation and Amortization4,365 24 31 161 4,581 
Income Tax Expense (Benefit)10,480 350 496 (750)10,576 
Segment Profit (Loss)41,937 1,089 1,562 (1,209)43,379 
Segment Assets at June 30, 20215,334,299 5,306 12,240 (3,276)5,348,569 
 Core
Banking
Wealth Management ServicesInsuranceOtherConsolidated Totals
Six Months Ended     
June 30, 2020    
Net Interest Income$76,109 $$$(1,409)$74,715 
Net Gains on Sales of Loans4,517 — — — 4,517 
Net Gains on Securities1,583 — — — 1,583 
Trust and Investment Product Fees3,897 — — 3,898 
Insurance Revenues11 5,043 — 5,059 
Noncash Items:
Provision for Credit Losses11,050 — — — 11,050 
Depreciation and Amortization4,511 34 161 4,708 
Income Tax Expense (Benefit)5,367 228 400 (969)5,026 
Segment Profit (Loss)25,945 670 1,221 (1,109)26,727 
Segment Assets at December 31, 20204,963,655 4,480 10,263 (821)4,977,577