XML 66 R48.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Business Combinations, Goodwill and Intangible Assets (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Business Combinations, Goodwill and Intangible Assets [Abstract] |
Schedule of Total Consideration Transferred and Fair Value of Identifiable Assets Acquired and Liabilities Assumed | The following table summarizes the fair value of the total consideration transferred as a part of the CUB acquisition as well as the fair value of identifiable assets acquired and liabilities assumed as of the effective date of the transaction.
Consideration |  |
Cash for Options and Fractional Shares |  | $ | 942 |
Cash Consideration |  | 49,863 |
Equity Instruments |  | 111,914 |
Fair Value of Total Consideration Transferred |  | $ | 162,719 |
Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed: |  |
Cash |  | $ | 20,244 |
Federal Funds Sold and Other Short-term Investments |  | 238,325 |
Interest-bearing Time Deposits with Banks |  | 250 |
Securities |  | 102,233 |
Loans |  | 678,142 |
Stock in FHLB of Indianapolis and Other Restricted Stock, at Cost |  | 10,078 |
Premises, Furniture & Equipment |  | 19,805 |
Other Real Estate |  | 40 |
Intangible Assets |  | 7,572 |
Company Owned Life Insurance |  | 12,881 |
Accrued Interest Receivable and Other Assets |  | 18,309 |
Deposits - Non-interest Bearing |  | (237,472) |
Deposits - Interest Bearing |  | (696,750) |
FHLB Advances and Other Borrowings |  | (60,837) |
Accrued Interest Payable and Other Liabilities |  | (8,697) |
Total Identifiable Net Assets |  | $ | 104,123 |
Goodwill |  | $ | 58,596 |
Schedule of Unaudited Pro Forma Financial Information | The following table presents unaudited pro forma information as if the acquisition had occurred on January 1, 2021 after giving effect to certain adjustments. The unaudited pro forma information for the year ended December 30, 2022 and 2021 includes adjustments for interest income on loans and securities acquired, amortization of intangibles arising from the transaction, interest expense on deposits and borrowings acquired, and the related income tax effects. The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transaction been effected on the assumed date.
|  | Unaudited Pro Forma Year Ended 12/31/2022 |  | Unaudited Pro Forma Year Ended 12/31/2021
Net Interest Income |  | $ | 200,584 |  |  | $ | 195,691 |
Non-interest Income |  | 59,133 |  |  | 64,951 |
Total Revenue |  | 259,717 |  |  | 260,642 |
Provision for Credit Losses |  | 50 |  |  | (8,707) |
Non-interest Expense |  | 141,868 |  |  | 142,978 |
Income Before Income Taxes |  | 117,799 |  |  | 126,371 |
Income Tax Expense |  | 21,858 |  |  | 24,260 |
Net Income |  | $ | 95,941 |  |  | $ | 102,111 |
Earnings Per Share and Diluted Earnings Per Share |  | $ | 3.26 |  |  | $ | 3.47 |
Schedule of Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the periods ended December 31, 2023, 2022, and 2021, were classified as follows:
|  | 2023 |  | 2022 |  | 2021
Beginning of Year |  | $ | 180,357 |  |  | $ | 121,761 |  |  | $ | 121,956 |
Acquired Goodwill |  | — |  |  | 58,596 |  |  | (195) |
Impairment |  | — |  |  | — |  |  | — |
End of Year |  | $ | 180,357 |  |  | $ | 180,357 |  |  | $ | 121,761 |
Schedule of Acquired Intangible Assets | Acquired Intangible Assets Acquired intangible assets were as follows as of year end:
|  | 2023
|  | Gross Amount |  | Accumulated Amortization
Core Banking |  |  |  |
Core Deposit Intangible |  | $ | 33,247 |  |  | $ | (27,811) |
Branch Acquisition Intangible |  | 257 |  |  | (257) |
Insurance |  |  |  |
Customer List |  | 5,408 |  |  | (5,408) |
Total |  | $ | 38,912 |  |  | $ | (33,476) |
|  | 2022
|  | Gross Amount |  | Accumulated Amortization
Core Banking |  |  |  |
Core Deposit Intangible |  | $ | 33,247 |  |  | $ | (25,001) |
Branch Acquisition Intangible |  | 257 |  |  | (257) |
Insurance |  |  |  |
Customer List |  | 5,408 |  |  | (5,378) |
Total |  | $ | 38,912 |  |  | $ | (30,636) |
Schedule of Estimated Amortization Expense of Intangibles | Estimated amortization expense for each of the next five years is as follows:
2024 |  | $ | 2,032 |
2025 |  | 1,394 |
2026 |  | 916 |
2027 |  | 593 |
2028 |  | 361 |

X
- Definition Business Combinations Goodwill And Intangible Assets [Abstract] + References No definition available. + Details
Name: | gabc_BusinessCombinationsGoodwillAndIntangibleAssetsAbstract
Namespace Prefix: | gabc_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
Name: | us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of acquired indefinite-lived intangible assets. Indefinite-lived intangible assets are assets that have no physical form, but have expected future economic benefit. Indefinite-lived assets are assets that are not subject to amortization. Acquired indefinite-lived intangible assets are disclosed by major class (assets that can be grouped together because they are similar, either by their nature or by their use in operations of the entity) and in total. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
Name: | us-gaap_ScheduleOfAcquiredIndefiniteLivedIntangibleAssetsByMajorClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482548/350-20-55-24 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-2 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration