XML 43 R25.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2023
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 76 banking offices at December 31, 2023. 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 Services |  | Insurance |  | Other |  | Consolidated Totals
Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |
Net Interest Income |  | $ | 195,215 |  |  | $ | 120 |  |  | $ | 56 |  |  | $ | (4,958) |  |  | $ | 190,433 |
Net Gains on Sales of Loans |  | 2,363 |  |  | — |  |  | — |  |  | — |  |  | 2,363 |
Net Gains on Securities |  | 40 |  |  | — |  |  | — |  |  | — |  |  | 40 |
Wealth Management Fees |  | 5 |  |  | 11,706 |  |  | — |  |  | — |  |  | 11,711 |
Insurance Revenues |  | 1 |  |  | 24 |  |  | 9,572 |  |  | (1) |  |  | 9,596 |
Noncash Items: |  |  |  |  |  |  |  |  |  |
Provision for Credit Losses |  | 2,550 |  |  | — |  |  | — |  |  | — |  |  | 2,550 |
Depreciation and Amortization |  | 9,025 |  |  | 31 |  |  | 48 |  |  | 456 |  |  | 9,560 |
Income Tax Expense (Benefit) |  | 18,698 |  |  | 695 |  |  | 556 |  |  | (2,190) |  |  | 17,759 |
Segment Profit (Loss) |  | 85,037 |  |  | 2,974 |  |  | 1,682 |  |  | (3,805) |  |  | 85,888 |
Segment Assets at December 31, 2023 |  | 6,137,687 |  |  | 9,508 |  |  | 3,509 |  |  | 1,494 |  |  | 6,152,198 |
|  | Core Banking |  | Wealth Management Services |  | Insurance |  | Other |  | Consolidated Totals
Year Ended December 31, 2022 |  |  |  |  |  |  |  |  |  |
Net Interest Income |  | $ | 204,259 |  |  | $ | 46 |  |  | $ | 27 |  |  | $ | (3,748) |  |  | $ | 200,584 |
Net Gains on Sales of Loans |  | 3,818 |  |  | — |  |  | — |  |  | — |  |  | 3,818 |
Net Gains on Securities |  | 589 |  |  | — |  |  | — |  |  | (27) |  |  | 562 |
Wealth Management Fees |  | 4 |  |  | 10,072 |  |  | — |  |  | — |  |  | 10,076 |
Insurance Revenues |  | 31 |  |  | 12 |  |  | 9,977 |  |  | — |  |  | 10,020 |
Noncash Items: |  |  |  |  |  |  |  |  |  |
Provision for Credit Losses |  | 6,350 |  |  | — |  |  | — |  |  | — |  |  | 6,350 |
Depreciation and Amortization |  | 9,571 |  |  | 41 |  |  | 48 |  |  | 456 |  |  | 10,116 |
Income Tax Expense (Benefit) |  | 17,873 |  |  | 691 |  |  | 720 |  |  | (1,933) |  |  | 17,351 |
Segment Profit (Loss) |  | 82,965 |  |  | 2,157 |  |  | 2,281 |  |  | (5,578) |  |  | 81,825 |
Segment Assets at December 31, 2022 |  | 6,152,346 |  |  | 8,846 |  |  | 14,706 |  |  | (19,907) |  |  | 6,155,991 |
|  | Core Banking |  | Wealth Management Services |  | Insurance |  | Other |  | Consolidated Totals
Year Ended December 31, 2021 |  |  |  |  |  |  |  |  |  |
Net Interest Income |  | $ | 163,395 |  |  | $ | 42 |  |  | $ | 11 |  |  | $ | (2,618) |  |  | $ | 160,830 |
Net Gains on Sales of Loans |  | 8,267 |  |  | — |  |  | — |  |  | — |  |  | 8,267 |
Net Gains on Securities |  | 2,247 |  |  | — |  |  | — |  |  | — |  |  | 2,247 |
Wealth Management Fees |  | 4 |  |  | 10,317 |  |  | — |  |  | — |  |  | 10,321 |
Insurance Revenues |  | 14 |  |  | 7 |  |  | 9,247 |  |  | — |  |  | 9,268 |
Noncash Items: |  |  |  |  |  |  |  |  |  |
Provision for Credit Losses |  | (6,500) |  |  | — |  |  | — |  |  | — |  |  | (6,500) |
Depreciation and Amortization |  | 8,346 |  |  | 46 |  |  | 57 |  |  | 321 |  |  | 8,770 |
Income Tax Expense (Benefit) |  | 18,774 |  |  | 826 |  |  | 652 |  |  | (1,604) |  |  | 18,648 |
Segment Profit (Loss) |  | 82,066 |  |  | 2,543 |  |  | 2,034 |  |  | (2,506) |  |  | 84,137 |
Segment Assets at December 31, 2021 |  | 5,595,721 |  |  | 6,115 |  |  | 12,245 |  |  | (5,542) |  |  | 5,608,539 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration