gabc-20240630truefalsefalse2024Q2000071439512/3133.3333.3333.33http://fasb.org/us-gaap/2024#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationhttp://fasb.org/us-gaap/2024#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationhttp://fasb.org/us-gaap/2024#OtherBorrowingshttp://fasb.org/us-gaap/2024#OtherBorrowingshttp://fasb.org/us-gaap/2024#InterestReceivableAndOtherAssetshttp://fasb.org/us-gaap/2024#InterestReceivableAndOtherAssetshttp://fasb.org/us-gaap/2024#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrenthttp://fasb.org/us-gaap/2024#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesgabc:investmentgabc:loangabc:segmentxbrli:puregabc:bankingOffice00007143952024-01-012024-06-3000007143952024-08-0200007143952024-06-3000007143952023-12-3100007143952024-04-012024-06-3000007143952023-04-012023-06-300000714395gabc:WealthManagementFeesMember2024-04-012024-06-300000714395gabc:WealthManagementFeesMember2023-04-012023-06-300000714395gabc:ServiceChargeonDepositAccountsMember2024-04-012024-06-300000714395gabc:ServiceChargeonDepositAccountsMember2023-04-012023-06-300000714395gabc:InsuranceRevenueMember2024-04-012024-06-300000714395gabc:InsuranceRevenueMember2023-04-012023-06-300000714395gabc:InterchangeFeeIncomeMember2024-04-012024-06-300000714395gabc:InterchangeFeeIncomeMember2023-04-012023-06-3000007143952023-01-012023-06-300000714395gabc:WealthManagementFeesMember2024-01-012024-06-300000714395gabc:WealthManagementFeesMember2023-01-012023-06-300000714395gabc:ServiceChargeonDepositAccountsMember2024-01-012024-06-300000714395gabc:ServiceChargeonDepositAccountsMember2023-01-012023-06-300000714395gabc:InsuranceRevenueMember2024-01-012024-06-300000714395gabc:InsuranceRevenueMember2023-01-012023-06-300000714395gabc:InterchangeFeeIncomeMember2024-01-012024-06-300000714395gabc:InterchangeFeeIncomeMember2023-01-012023-06-300000714395us-gaap:CommonStockMember2023-12-310000714395us-gaap:AdditionalPaidInCapitalMember2023-12-310000714395us-gaap:RetainedEarningsMember2023-12-310000714395us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000714395us-gaap:RetainedEarningsMember2024-01-012024-03-3100007143952024-01-012024-03-310000714395us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000714395us-gaap:CommonStockMember2024-01-012024-03-310000714395us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310000714395us-gaap:CommonStockMember2024-03-310000714395us-gaap:AdditionalPaidInCapitalMember2024-03-310000714395us-gaap:RetainedEarningsMember2024-03-310000714395us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-3100007143952024-03-310000714395us-gaap:RetainedEarningsMember2024-04-012024-06-300000714395us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300000714395us-gaap:CommonStockMember2024-04-012024-06-300000714395us-gaap:AdditionalPaidInCapitalMember2024-04-012024-06-300000714395us-gaap:CommonStockMember2024-06-300000714395us-gaap:AdditionalPaidInCapitalMember2024-06-300000714395us-gaap:RetainedEarningsMember2024-06-300000714395us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300000714395us-gaap:CommonStockMember2022-12-310000714395us-gaap:AdditionalPaidInCapitalMember2022-12-310000714395us-gaap:RetainedEarningsMember2022-12-310000714395us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-3100007143952022-12-310000714395us-gaap:RetainedEarningsMember2023-01-012023-03-3100007143952023-01-012023-03-310000714395us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000714395us-gaap:CommonStockMember2023-01-012023-03-310000714395us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310000714395us-gaap:CommonStockMember2023-03-310000714395us-gaap:AdditionalPaidInCapitalMember2023-03-310000714395us-gaap:RetainedEarningsMember2023-03-310000714395us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-3100007143952023-03-310000714395us-gaap:RetainedEarningsMember2023-04-012023-06-300000714395us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000714395us-gaap:CommonStockMember2023-04-012023-06-300000714395us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300000714395us-gaap:CommonStockMember2023-06-300000714395us-gaap:AdditionalPaidInCapitalMember2023-06-300000714395us-gaap:RetainedEarningsMember2023-06-300000714395us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-3000007143952023-06-300000714395gabc:HilbGroupMember2024-06-012024-06-0100007143952024-06-012024-06-010000714395us-gaap:USTreasurySecuritiesMember2024-06-300000714395us-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300000714395us-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300000714395gabc:USGovernmentSponsoredEnterprisesAndAgenciesDebtSecuritiesMember2024-06-300000714395us-gaap:USTreasurySecuritiesMember2023-12-310000714395us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000714395us-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000714395gabc:USGovernmentSponsoredEnterprisesAndAgenciesDebtSecuritiesMember2023-12-310000714395us-gaap:SubsequentEventMember2024-07-012024-07-310000714395us-gaap:EquitySecuritiesMember2024-06-300000714395us-gaap:EquitySecuritiesMember2023-12-3100007143952009-12-310000714395us-gaap:InterestRateSwapMember2024-06-300000714395us-gaap:InterestRateSwapMember2023-12-310000714395us-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMember2024-06-300000714395us-gaap:OtherAssetsMemberus-gaap:InterestRateSwapMember2023-12-310000714395us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2024-06-300000714395us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMember2023-12-310000714395us-gaap:OtherIncomeMemberus-gaap:InterestRateSwapMember2024-04-012024-06-300000714395us-gaap:OtherIncomeMemberus-gaap:InterestRateSwapMember2023-04-012023-06-300000714395us-gaap:OtherIncomeMemberus-gaap:InterestRateSwapMember2024-01-012024-06-300000714395us-gaap:OtherIncomeMemberus-gaap:InterestRateSwapMember2023-01-012023-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000714395gabc:LeasesMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300000714395gabc:LeasesMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310000714395us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2024-06-300000714395us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember2023-12-310000714395gabc:CommercialAndIndustrialMember2024-03-310000714395us-gaap:CommercialRealEstateMember2024-03-310000714395gabc:AgriculturalMember2024-03-310000714395gabc:LeasesMember2024-03-310000714395us-gaap:ConsumerLoanMember2024-03-310000714395us-gaap:HomeEquityLoanMember2024-03-310000714395us-gaap:CreditCardReceivablesMember2024-03-310000714395us-gaap:ResidentialMortgageMember2024-03-310000714395gabc:CommercialAndIndustrialMember2024-04-012024-06-300000714395us-gaap:CommercialRealEstateMember2024-04-012024-06-300000714395gabc:AgriculturalMember2024-04-012024-06-300000714395gabc:LeasesMember2024-04-012024-06-300000714395us-gaap:ConsumerLoanMember2024-04-012024-06-300000714395us-gaap:HomeEquityLoanMember2024-04-012024-06-300000714395us-gaap:CreditCardReceivablesMember2024-04-012024-06-300000714395us-gaap:ResidentialMortgageMember2024-04-012024-06-300000714395gabc:CommercialAndIndustrialMember2024-06-300000714395us-gaap:CommercialRealEstateMember2024-06-300000714395gabc:AgriculturalMember2024-06-300000714395gabc:LeasesMember2024-06-300000714395us-gaap:ConsumerLoanMember2024-06-300000714395us-gaap:HomeEquityLoanMember2024-06-300000714395us-gaap:CreditCardReceivablesMember2024-06-300000714395us-gaap:ResidentialMortgageMember2024-06-300000714395gabc:CommercialAndIndustrialMember2023-03-310000714395us-gaap:CommercialRealEstateMember2023-03-310000714395gabc:AgriculturalMember2023-03-310000714395gabc:LeasesMember2023-03-310000714395us-gaap:ConsumerLoanMember2023-03-310000714395us-gaap:HomeEquityLoanMember2023-03-310000714395us-gaap:CreditCardReceivablesMember2023-03-310000714395us-gaap:ResidentialMortgageMember2023-03-310000714395gabc:CommercialAndIndustrialMember2023-04-012023-06-300000714395us-gaap:CommercialRealEstateMember2023-04-012023-06-300000714395gabc:AgriculturalMember2023-04-012023-06-300000714395gabc:LeasesMember2023-04-012023-06-300000714395us-gaap:ConsumerLoanMember2023-04-012023-06-300000714395us-gaap:HomeEquityLoanMember2023-04-012023-06-300000714395us-gaap:CreditCardReceivablesMember2023-04-012023-06-300000714395us-gaap:ResidentialMortgageMember2023-04-012023-06-300000714395gabc:CommercialAndIndustrialMember2023-06-300000714395us-gaap:CommercialRealEstateMember2023-06-300000714395gabc:AgriculturalMember2023-06-300000714395gabc:LeasesMember2023-06-300000714395us-gaap:ConsumerLoanMember2023-06-300000714395us-gaap:HomeEquityLoanMember2023-06-300000714395us-gaap:CreditCardReceivablesMember2023-06-300000714395us-gaap:ResidentialMortgageMember2023-06-300000714395gabc:CommercialAndIndustrialMember2023-12-310000714395us-gaap:CommercialRealEstateMember2023-12-310000714395gabc:AgriculturalMember2023-12-310000714395gabc:LeasesMember2023-12-310000714395us-gaap:ConsumerLoanMember2023-12-310000714395us-gaap:HomeEquityLoanMember2023-12-310000714395us-gaap:CreditCardReceivablesMember2023-12-310000714395us-gaap:ResidentialMortgageMember2023-12-310000714395gabc:CommercialAndIndustrialMember2024-01-012024-06-300000714395us-gaap:CommercialRealEstateMember2024-01-012024-06-300000714395gabc:AgriculturalMember2024-01-012024-06-300000714395gabc:LeasesMember2024-01-012024-06-300000714395us-gaap:ConsumerLoanMember2024-01-012024-06-300000714395us-gaap:HomeEquityLoanMember2024-01-012024-06-300000714395us-gaap:CreditCardReceivablesMember2024-01-012024-06-300000714395us-gaap:ResidentialMortgageMember2024-01-012024-06-300000714395gabc:CommercialAndIndustrialMember2022-12-310000714395us-gaap:CommercialRealEstateMember2022-12-310000714395gabc:AgriculturalMember2022-12-310000714395gabc:LeasesMember2022-12-310000714395us-gaap:ConsumerLoanMember2022-12-310000714395us-gaap:HomeEquityLoanMember2022-12-310000714395us-gaap:CreditCardReceivablesMember2022-12-310000714395us-gaap:ResidentialMortgageMember2022-12-310000714395gabc:CommercialAndIndustrialMember2023-01-012023-06-300000714395us-gaap:CommercialRealEstateMember2023-01-012023-06-300000714395gabc:AgriculturalMember2023-01-012023-06-300000714395gabc:LeasesMember2023-01-012023-06-300000714395us-gaap:ConsumerLoanMember2023-01-012023-06-300000714395us-gaap:HomeEquityLoanMember2023-01-012023-06-300000714395us-gaap:CreditCardReceivablesMember2023-01-012023-06-300000714395us-gaap:ResidentialMortgageMember2023-01-012023-06-3000007143952023-01-012023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:RealEstateMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:EquipmentMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:AccountsReceivableMember2024-06-300000714395gabc:CommercialAndIndustrialMembergabc:OtherCollateralMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:CollateralPledgedMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:RealEstateMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:EquipmentMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:AccountsReceivableMember2024-06-300000714395us-gaap:CommercialRealEstateMembergabc:OtherCollateralMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:CollateralPledgedMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:RealEstateMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:EquipmentMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:AccountsReceivableMember2024-06-300000714395gabc:AgriculturalMembergabc:OtherCollateralMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:CollateralPledgedMember2024-06-300000714395gabc:LeasesMemberus-gaap:RealEstateMember2024-06-300000714395gabc:LeasesMemberus-gaap:EquipmentMember2024-06-300000714395gabc:LeasesMemberus-gaap:AccountsReceivableMember2024-06-300000714395gabc:LeasesMembergabc:OtherCollateralMember2024-06-300000714395gabc:LeasesMemberus-gaap:CollateralPledgedMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:RealEstateMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:EquipmentMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:AccountsReceivableMember2024-06-300000714395us-gaap:HomeEquityLoanMembergabc:OtherCollateralMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:CollateralPledgedMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:RealEstateMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:EquipmentMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:AccountsReceivableMember2024-06-300000714395us-gaap:ConsumerLoanMembergabc:OtherCollateralMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:CollateralPledgedMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:RealEstateMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:EquipmentMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:AccountsReceivableMember2024-06-300000714395us-gaap:CreditCardReceivablesMembergabc:OtherCollateralMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:CollateralPledgedMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:RealEstateMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:EquipmentMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:AccountsReceivableMember2024-06-300000714395us-gaap:ResidentialMortgageMembergabc:OtherCollateralMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:CollateralPledgedMember2024-06-300000714395us-gaap:RealEstateMember2024-06-300000714395us-gaap:EquipmentMember2024-06-300000714395us-gaap:AccountsReceivableMember2024-06-300000714395gabc:OtherCollateralMember2024-06-300000714395us-gaap:CollateralPledgedMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:RealEstateMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:EquipmentMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:AccountsReceivableMember2023-12-310000714395gabc:CommercialAndIndustrialMembergabc:OtherCollateralMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:CollateralPledgedMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:RealEstateMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:EquipmentMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:AccountsReceivableMember2023-12-310000714395us-gaap:CommercialRealEstateMembergabc:OtherCollateralMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:CollateralPledgedMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:RealEstateMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:EquipmentMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:AccountsReceivableMember2023-12-310000714395gabc:AgriculturalMembergabc:OtherCollateralMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:CollateralPledgedMember2023-12-310000714395gabc:LeasesMemberus-gaap:RealEstateMember2023-12-310000714395gabc:LeasesMemberus-gaap:EquipmentMember2023-12-310000714395gabc:LeasesMemberus-gaap:AccountsReceivableMember2023-12-310000714395gabc:LeasesMembergabc:OtherCollateralMember2023-12-310000714395gabc:LeasesMemberus-gaap:CollateralPledgedMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:RealEstateMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:EquipmentMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:AccountsReceivableMember2023-12-310000714395us-gaap:HomeEquityLoanMembergabc:OtherCollateralMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:CollateralPledgedMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:RealEstateMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:EquipmentMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:AccountsReceivableMember2023-12-310000714395us-gaap:ConsumerLoanMembergabc:OtherCollateralMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:CollateralPledgedMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:RealEstateMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:EquipmentMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:AccountsReceivableMember2023-12-310000714395us-gaap:CreditCardReceivablesMembergabc:OtherCollateralMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:CollateralPledgedMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:RealEstateMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:EquipmentMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:AccountsReceivableMember2023-12-310000714395us-gaap:ResidentialMortgageMembergabc:OtherCollateralMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:CollateralPledgedMember2023-12-310000714395us-gaap:RealEstateMember2023-12-310000714395us-gaap:EquipmentMember2023-12-310000714395us-gaap:AccountsReceivableMember2023-12-310000714395gabc:OtherCollateralMember2023-12-310000714395us-gaap:CollateralPledgedMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:FinancialAssetPastDueMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetPastDueMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:FinancialAssetPastDueMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300000714395gabc:LeasesMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000714395gabc:LeasesMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000714395gabc:LeasesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000714395gabc:LeasesMemberus-gaap:FinancialAssetPastDueMember2024-06-300000714395gabc:LeasesMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:FinancialAssetPastDueMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetPastDueMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetPastDueMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetPastDueMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300000714395us-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000714395us-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000714395us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000714395us-gaap:FinancialAssetPastDueMember2024-06-300000714395us-gaap:FinancialAssetNotPastDueMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:FinancialAssetPastDueMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetPastDueMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:FinancialAssetPastDueMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000714395gabc:LeasesMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000714395gabc:LeasesMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000714395gabc:LeasesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000714395gabc:LeasesMemberus-gaap:FinancialAssetPastDueMember2023-12-310000714395gabc:LeasesMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:FinancialAssetPastDueMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetPastDueMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetPastDueMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetPastDueMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000714395us-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000714395us-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000714395us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000714395us-gaap:FinancialAssetPastDueMember2023-12-310000714395us-gaap:FinancialAssetNotPastDueMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:PassMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:SpecialMentionMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:SubstandardMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:DoubtfulMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:PassMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:SpecialMentionMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:SubstandardMember2024-06-300000714395us-gaap:CommercialRealEstateMemberus-gaap:DoubtfulMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:PassMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:SpecialMentionMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:SubstandardMember2024-06-300000714395gabc:AgriculturalMemberus-gaap:DoubtfulMember2024-06-300000714395gabc:LeasesMemberus-gaap:PassMember2024-06-300000714395gabc:LeasesMemberus-gaap:SpecialMentionMember2024-06-300000714395gabc:LeasesMemberus-gaap:SubstandardMember2024-06-300000714395gabc:LeasesMemberus-gaap:DoubtfulMember2024-06-300000714395gabc:CommercialAndIndustrialMemberus-gaap:PassMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:SpecialMentionMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:SubstandardMember2023-12-310000714395gabc:CommercialAndIndustrialMemberus-gaap:DoubtfulMember2023-12-310000714395gabc:CommercialAndIndustrialMember2023-01-012023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:PassMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:SpecialMentionMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:SubstandardMember2023-12-310000714395us-gaap:CommercialRealEstateMemberus-gaap:DoubtfulMember2023-12-310000714395us-gaap:CommercialRealEstateMember2023-01-012023-12-310000714395gabc:AgriculturalMemberus-gaap:PassMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:SpecialMentionMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:SubstandardMember2023-12-310000714395gabc:AgriculturalMemberus-gaap:DoubtfulMember2023-12-310000714395gabc:AgriculturalMember2023-01-012023-12-310000714395gabc:LeasesMemberus-gaap:PassMember2023-12-310000714395gabc:LeasesMemberus-gaap:SpecialMentionMember2023-12-310000714395gabc:LeasesMemberus-gaap:SubstandardMember2023-12-310000714395gabc:LeasesMemberus-gaap:DoubtfulMember2023-12-310000714395gabc:LeasesMember2023-01-012023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:PerformingFinancingReceivableMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:NonperformingFinancingReceivableMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:PerformingFinancingReceivableMember2024-06-300000714395us-gaap:HomeEquityLoanMemberus-gaap:NonperformingFinancingReceivableMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:PerformingFinancingReceivableMember2024-06-300000714395us-gaap:ResidentialMortgageMemberus-gaap:NonperformingFinancingReceivableMember2024-06-300000714395us-gaap:ConsumerLoanMemberus-gaap:PerformingFinancingReceivableMember2023-12-310000714395us-gaap:ConsumerLoanMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000714395us-gaap:ConsumerLoanMember2023-01-012023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:PerformingFinancingReceivableMember2023-12-310000714395us-gaap:HomeEquityLoanMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000714395us-gaap:HomeEquityLoanMember2023-01-012023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:PerformingFinancingReceivableMember2023-12-310000714395us-gaap:ResidentialMortgageMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000714395us-gaap:ResidentialMortgageMember2023-01-012023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:PerformingFinancingReceivableMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:PerformingFinancingReceivableMember2023-12-310000714395us-gaap:CreditCardReceivablesMemberus-gaap:NonperformingFinancingReceivableMember2024-06-300000714395us-gaap:CreditCardReceivablesMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310000714395us-gaap:CreditCardReceivablesMember2023-01-012023-12-310000714395gabc:FHLBAdvancesandOtherBorrowingsMemberus-gaap:MaturityOvernightMemberus-gaap:MortgageBackedSecuritiesMember2024-06-300000714395gabc:FHLBAdvancesandOtherBorrowingsMemberus-gaap:MaturityOvernightMemberus-gaap:MortgageBackedSecuritiesMember2023-12-310000714395us-gaap:OperatingSegmentsMembergabc:RetailBankingMember2024-04-012024-06-300000714395us-gaap:OperatingSegmentsMembergabc:WealthManagementServicesMember2024-04-012024-06-300000714395us-gaap:OperatingSegmentsMembergabc:InsuranceMember2024-04-012024-06-300000714395us-gaap:CorporateNonSegmentMember2024-04-012024-06-300000714395us-gaap:OperatingSegmentsMembergabc:RetailBankingMember2024-06-300000714395us-gaap:OperatingSegmentsMembergabc:WealthManagementServicesMember2024-06-300000714395us-gaap:OperatingSegmentsMembergabc:InsuranceMember2024-06-300000714395us-gaap:CorporateNonSegmentMember2024-06-300000714395us-gaap:OperatingSegmentsMembergabc:RetailBankingMember2023-04-012023-06-300000714395us-gaap:OperatingSegmentsMembergabc:WealthManagementServicesMember2023-04-012023-06-300000714395us-gaap:OperatingSegmentsMembergabc:InsuranceMember2023-04-012023-06-300000714395us-gaap:CorporateNonSegmentMember2023-04-012023-06-300000714395us-gaap:OperatingSegmentsMembergabc:RetailBankingMember2023-12-310000714395us-gaap:OperatingSegmentsMembergabc:WealthManagementServicesMember2023-12-310000714395us-gaap:OperatingSegmentsMembergabc:InsuranceMember2023-12-310000714395us-gaap:CorporateNonSegmentMember2023-12-310000714395us-gaap:OperatingSegmentsMembergabc:RetailBankingMember2024-01-012024-06-300000714395us-gaap:OperatingSegmentsMembergabc:WealthManagementServicesMember2024-01-012024-06-300000714395us-gaap:OperatingSegmentsMembergabc:InsuranceMember2024-01-012024-06-300000714395us-gaap:CorporateNonSegmentMember2024-01-012024-06-300000714395us-gaap:OperatingSegmentsMembergabc:RetailBankingMember2023-01-012023-06-300000714395us-gaap:OperatingSegmentsMembergabc:WealthManagementServicesMember2023-01-012023-06-300000714395us-gaap:OperatingSegmentsMembergabc:InsuranceMember2023-01-012023-06-300000714395us-gaap:CorporateNonSegmentMember2023-01-012023-06-300000714395gabc:ShareRepurchaseProgram2022Memberus-gaap:CommonStockMember2022-01-310000714395gabc:ShareRepurchaseProgram2022Memberus-gaap:CommonStockMember2022-01-312022-01-310000714395gabc:ShareRepurchaseProgram2022Member2022-01-312024-06-300000714395gabc:LongTermEquityIncentivePlan2019Member2024-06-300000714395us-gaap:EmployeeStockOptionMember2024-01-012024-06-300000714395us-gaap:EmployeeStockOptionMember2023-01-012023-06-300000714395us-gaap:EmployeeStockOptionMember2024-04-012024-06-300000714395us-gaap:EmployeeStockOptionMember2023-04-012023-06-300000714395us-gaap:EmployeeStockOptionMember2023-06-300000714395us-gaap:EmployeeStockOptionMember2024-06-300000714395us-gaap:RestrictedStockMember2020-01-012020-12-310000714395us-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2020-01-012020-12-310000714395us-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMember2020-01-012020-12-310000714395gabc:LongTermEquityIncentivePlan2009Memberus-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMember2020-01-012020-12-310000714395us-gaap:RestrictedStockMembersrt:ExecutiveOfficerMember2024-01-012024-06-300000714395us-gaap:RestrictedStockMembersrt:DirectorMember2024-01-012024-06-300000714395us-gaap:RestrictedStockMember2024-04-012024-06-300000714395us-gaap:RestrictedStockMember2024-01-012024-06-300000714395us-gaap:RestrictedStockMember2023-04-012023-06-300000714395us-gaap:RestrictedStockMember2023-01-012023-06-300000714395us-gaap:RestrictedStockMember2024-06-300000714395us-gaap:RestrictedStockMember2023-12-310000714395us-gaap:RestrictedStockMember2023-06-300000714395gabc:EmployeeStockPurchasePlan2019Member2020-05-212020-05-210000714395gabc:EmployeeStockPurchasePlan2019Member2020-05-210000714395us-gaap:EmployeeStockMembergabc:EmployeeStockPurchasePlan2019Member2024-04-012024-06-300000714395us-gaap:EmployeeStockMembergabc:EmployeeStockPurchasePlan2019Member2024-01-012024-06-300000714395us-gaap:EmployeeStockMembergabc:EmployeeStockPurchasePlan2019Member2023-04-012023-06-300000714395us-gaap:EmployeeStockMembergabc:EmployeeStockPurchasePlan2019Member2023-01-012023-06-300000714395us-gaap:EmployeeStockMembergabc:EmployeeStockPurchasePlan2019Member2024-06-300000714395us-gaap:EmployeeStockMembergabc:EmployeeStockPurchasePlan2019Member2023-06-300000714395us-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheTwoMembersrt:ExecutiveOfficerMember2024-01-012024-06-300000714395us-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheThreeMembersrt:ExecutiveOfficerMember2024-01-012024-06-300000714395us-gaap:RestrictedStockMemberus-gaap:ShareBasedCompensationAwardTrancheOneMembersrt:ExecutiveOfficerMember2024-01-012024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2024-06-300000714395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300000714395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300000714395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembergabc:USGovernmentSponsoredEnterprisesAndAgenciesDebtSecuritiesMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembergabc:USGovernmentSponsoredEnterprisesAndAgenciesDebtSecuritiesMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMembergabc:USGovernmentSponsoredEnterprisesAndAgenciesDebtSecuritiesMember2024-06-300000714395us-gaap:FairValueMeasurementsRecurringMembergabc:USGovernmentSponsoredEnterprisesAndAgenciesDebtSecuritiesMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300000714395us-gaap:FairValueMeasurementsRecurringMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2023-12-310000714395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2023-12-310000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000714395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000714395us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembergabc:USGovernmentSponsoredEnterprisesAndAgenciesDebtSecuritiesMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembergabc:USGovernmentSponsoredEnterprisesAndAgenciesDebtSecuritiesMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMembergabc:USGovernmentSponsoredEnterprisesAndAgenciesDebtSecuritiesMember2023-12-310000714395us-gaap:FairValueMeasurementsRecurringMembergabc:USGovernmentSponsoredEnterprisesAndAgenciesDebtSecuritiesMember2023-12-310000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000714395us-gaap:FairValueMeasurementsRecurringMember2023-12-310000714395gabc:LoansHeldforsaleMember2024-04-012024-06-300000714395gabc:LoansHeldforsaleMember2024-01-012024-06-300000714395gabc:LoansHeldforsaleMember2023-04-012023-06-300000714395gabc:LoansHeldforsaleMember2023-01-012023-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-03-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-03-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-03-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-04-012024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-04-012023-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-04-012024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-04-012023-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2022-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2022-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-01-012024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-01-012023-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-01-012024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-01-012023-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:CommercialAndIndustrialMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:CommercialAndIndustrialMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:CommercialAndIndustrialMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueMeasurementsNonrecurringMembergabc:CommercialAndIndustrialMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:AgriculturalMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:AgriculturalMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:AgriculturalMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueMeasurementsNonrecurringMembergabc:AgriculturalMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerLoanMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerLoanMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerLoanMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerLoanMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityLoanMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityLoanMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityLoanMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityLoanMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialMortgageMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialMortgageMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialMortgageMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialMortgageMembergabc:ImpairedLoansMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:CommercialAndIndustrialMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:CommercialAndIndustrialMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:CommercialAndIndustrialMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueMeasurementsNonrecurringMembergabc:CommercialAndIndustrialMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:AgriculturalMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:AgriculturalMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:AgriculturalMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueMeasurementsNonrecurringMembergabc:AgriculturalMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerLoanMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerLoanMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerLoanMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerLoanMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityLoanMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityLoanMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityLoanMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityLoanMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialMortgageMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialMortgageMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialMortgageMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialMortgageMembergabc:ImpairedLoansMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:CommercialAndIndustrialMembergabc:ImpairedLoansMember2024-06-300000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:CommercialAndIndustrialMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:CommercialAndIndustrialMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:CommercialAndIndustrialMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMembergabc:ImpairedLoansMember2024-06-300000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstateMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstateMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstateMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:AgriculturalMembergabc:ImpairedLoansMember2024-06-300000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:AgriculturalMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:AgriculturalMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:AgriculturalMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerLoanMembergabc:ImpairedLoansMember2024-06-300000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ConsumerLoanMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ConsumerLoanMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ConsumerLoanMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityLoanMembergabc:ImpairedLoansMember2024-06-300000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:HomeEquityLoanMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:HomeEquityLoanMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:HomeEquityLoanMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialMortgageMembergabc:ImpairedLoansMember2024-06-300000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageMemberus-gaap:MarketApproachValuationTechniqueMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:CommercialAndIndustrialMembergabc:ImpairedLoansMember2023-12-310000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:CommercialAndIndustrialMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:CommercialAndIndustrialMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:CommercialAndIndustrialMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMembergabc:ImpairedLoansMember2023-12-310000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstateMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstateMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:CommercialRealEstateMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembergabc:AgriculturalMembergabc:ImpairedLoansMember2023-12-310000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:AgriculturalMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:AgriculturalMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Membergabc:AgriculturalMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerLoanMembergabc:ImpairedLoansMember2023-12-310000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ConsumerLoanMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ConsumerLoanMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ConsumerLoanMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityLoanMembergabc:ImpairedLoansMember2023-12-310000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:HomeEquityLoanMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:HomeEquityLoanMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:HomeEquityLoanMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialMortgageMembergabc:ImpairedLoansMember2023-12-310000714395srt:MinimumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:MaximumMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395srt:WeightedAverageMembergabc:ImpairedLoansMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageMemberus-gaap:MarketApproachValuationTechniqueMember2023-12-310000714395us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300000714395us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300000714395us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300000714395us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300000714395us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300000714395us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000714395us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000714395us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000714395us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000714395us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-03-310000714395us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-03-310000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-04-012024-06-300000714395us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-04-012024-06-300000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-06-300000714395us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-06-300000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310000714395us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-01-012024-06-300000714395us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-06-300000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-03-310000714395us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-03-310000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-04-012023-06-300000714395us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-04-012023-06-300000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-06-300000714395us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-06-300000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310000714395us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-06-300000714395us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-06-300000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-06-300000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000714395us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-06-300000714395us-gaap:TransferredAtPointInTimeMembergabc:ServiceChargeonDepositAccountsMember2024-04-012024-06-300000714395us-gaap:TransferredAtPointInTimeMembergabc:ServiceChargeonDepositAccountsMember2023-04-012023-06-300000714395us-gaap:TransferredOverTimeMembergabc:InsuranceRevenueMember2024-04-012024-06-300000714395us-gaap:TransferredOverTimeMembergabc:InsuranceRevenueMember2023-04-012023-06-300000714395us-gaap:TransferredAtPointInTimeMembergabc:InterchangeFeeIncomeMember2024-04-012024-06-300000714395us-gaap:TransferredAtPointInTimeMembergabc:InterchangeFeeIncomeMember2023-04-012023-06-300000714395gabc:ATMFeesMember2024-04-012024-06-300000714395gabc:ATMFeesMember2023-04-012023-06-300000714395gabc:WireTransferFeesMember2024-04-012024-06-300000714395gabc:WireTransferFeesMember2023-04-012023-06-300000714395gabc:OtherOperatingIncomeMember2024-04-012024-06-300000714395gabc:OtherOperatingIncomeMember2023-04-012023-06-300000714395gabc:OtherOperatingIncomeSafeDepositBoxRentalsAndOtherNonInterestRelatedFeesMember2024-04-012024-06-300000714395gabc:OtherOperatingIncomeSafeDepositBoxRentalsAndOtherNonInterestRelatedFeesMember2023-04-012023-06-300000714395us-gaap:TransferredAtPointInTimeMembergabc:ServiceChargeonDepositAccountsMember2024-01-012024-06-300000714395us-gaap:TransferredAtPointInTimeMembergabc:ServiceChargeonDepositAccountsMember2023-01-012023-06-300000714395us-gaap:TransferredOverTimeMembergabc:InsuranceRevenueMember2024-01-012024-06-300000714395us-gaap:TransferredOverTimeMembergabc:InsuranceRevenueMember2023-01-012023-06-300000714395us-gaap:TransferredAtPointInTimeMembergabc:InterchangeFeeIncomeMember2024-01-012024-06-300000714395us-gaap:TransferredAtPointInTimeMembergabc:InterchangeFeeIncomeMember2023-01-012023-06-300000714395gabc:ATMFeesMember2024-01-012024-06-300000714395gabc:ATMFeesMember2023-01-012023-06-300000714395gabc:WireTransferFeesMember2024-01-012024-06-300000714395gabc:WireTransferFeesMember2023-01-012023-06-300000714395gabc:OtherOperatingIncomeMember2024-01-012024-06-300000714395gabc:OtherOperatingIncomeMember2023-01-012023-06-300000714395gabc:OtherOperatingIncomeSafeDepositBoxRentalsAndOtherNonInterestRelatedFeesMember2024-01-012024-06-300000714395gabc:OtherOperatingIncomeSafeDepositBoxRentalsAndOtherNonInterestRelatedFeesMember2023-01-012023-06-300000714395gabc:HeartlandBancCorpMembergabc:HeartlandBancCorpMember2024-06-302024-06-300000714395gabc:HeartlandBancCorpMembergabc:HeartlandBancCorpMember2024-06-300000714395gabc:HeartlandBancCorpMemberus-gaap:CommonStockMemberus-gaap:SubsequentEventMember2024-07-292024-07-290000714395gabc:HeartlandBancCorpMemberus-gaap:CommonStockMemberus-gaap:SubsequentEventMembersrt:ScenarioForecastMember2024-07-292024-07-290000714395gabc:HeartlandBancCorpMemberus-gaap:SubsequentEventMember2024-07-292024-07-290000714395gabc:HeartlandBancCorpMemberus-gaap:CommonStockMemberus-gaap:SubsequentEventMember2024-07-29
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the Quarterly Period Ended June 30, 2024
Commission File Number 001-15877
German American Bancorp, Inc.
(Exact name of registrant as specified in its charter)
| | | | | | | | |
Indiana | | 35-1547518 |
(State or other jurisdiction of | | (I.R.S. Employer |
incorporation or organization) | | Identification No.) |
711 Main Street, Jasper, Indiana 47546
(Address of Principal Executive Offices and Zip Code)
Registrant’s telephone number, including area code: (812) 482-1314
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes x No ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes x No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company:
| | | | | | | | | | | | | | | | | | | | | | | |
Large accelerated filer | x | Accelerated filer ¨ | Non-accelerated filer ¨ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):
Yes ☐ No x
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock, no par value | GABC | Nasdaq Global Select Market |
As of August 2, 2024, the registrant had 29,679,466 outstanding shares of Common Stock, no par value.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS AND ASSOCIATED RISKS
Information included in or incorporated by reference in this Quarterly Report on Form 10-Q, our other filings with the Securities and Exchange Commission (the “SEC”) and our press releases or other public statements contains or may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Please refer to the discussions of our forward-looking statements and associated risks in our Annual Report on Form 10-K for the year ended December 31, 2023, in Item 1, “Business - Forward-Looking Statements and Associated Risks” and our discussion of risk factors in Item 1A, “Risk Factors” of that Annual Report on Form 10-K, as updated and supplemented from time to time by our subsequent SEC filings, including by the discussion under the heading “Forward-Looking Statements and Associated Risks” at the conclusion of Item 2 of Part I of this Report (“Management’s Discussion and Analysis of Financial Condition and Results of Operations”), and by the additional risk factors set forth in Part II, Item 1A, “Risk Factors” of this Report.
*****
INDEX
| | | | | | | | |
Glossary of Terms and Acronyms | |
| | |
PART I. FINANCIAL INFORMATION | |
| | |
Item 1. | Unaudited Financial Statements | |
| | |
| Consolidated Balance Sheets – June 30, 2024 and December 31, 2023 | |
| | |
| Consolidated Statements of Income – Three Months Ended June 30, 2024 and 2023 | |
| | |
| Consolidated Statements of Income – Six Months Ended June 30, 2024 and 2023 | |
| | |
| Consolidated Statements of Comprehensive Income – Three and Six Months Ended June 30, 2024 and 2023 | |
| | |
| Consolidated Statements of Changes in Shareholders’ Equity - Three and Six Months Ended June 30, 2024 and 2023 | |
| | |
| Consolidated Statements of Cash Flows – Six Months Ended June 30, 2024 and 2023 | |
| | |
| Notes to Consolidated Financial Statements – June 30, 2024 | |
| | |
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | |
| | |
Item 3. | Quantitative and Qualitative Disclosures About Market Risk | |
| | |
Item 4. | Controls and Procedures | |
| | |
PART II. OTHER INFORMATION | |
| | |
Item 1. | Legal Proceedings | |
| | |
Item 1A. | Risk Factors | |
| | |
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | |
| | |
Item 3. | Defaults Upon Senior Securities | |
| | |
Item 4. | Mine Safety Disclosures | |
| | |
Item 5. | Other Information | |
| | |
Item 6. | Exhibits | |
| | |
SIGNATURES | |
GLOSSARY OF TERMS AND ACRONYMS
As used in this Report, references to “Company,” “we,” “our,” “us,” and similar terms refer to German American Bancorp, Inc. and its consolidated subsidiaries as a whole. Occasionally, we will refer to the term “parent company” or “holding company” when we mean to refer to only German American Bancorp, Inc. and the term “Bank” when we mean to refer only to German American Bank, the Company’s bank subsidiary.
The terms and acronyms identified below are used throughout this Report, including the Notes to Consolidated Financial Statements. You may find it helpful to refer to this Glossary as you read this Report.
2019 ESPP: German American Bancorp, Inc. 2019 Employee Stock Purchase Plan
2019 LTI Plan: German American Bancorp, Inc. 2019 Long-Term Equity Incentive Plan
ASU: Accounting Standards Update
Basel III Rules: Regulatory capital rules agreed to by the Basel Committee on Banking Supervision, as issued by the FRB and OCC and published in the Federal Register on October 11, 2013
CECL: Current expected credit losses, which are the subject of an accounting standard under GAAP
CET1: Common Equity Tier 1
CMO: Collateralized mortgage obligations
CRE: Commercial Real Estate
Dodd-Frank Act: Dodd-Frank Wall Street Reform and Consumer Protection Act
FASB: Financial Accounting Standards Board
FDIC: Federal Deposit Insurance Corporation
federal banking
regulators: The FRB, the OCC, and the FDIC, collectively
FHLB: Federal Home Loan Bank
FRB: Board of Governors of the Federal Reserve System
GAAP: Generally Accepted Accounting Principles in the United States of America
GAI: German American Insurance, Inc.
Heartland: Heartland BancCorp, which is party to an Agreement and Plan of Reorganization with the Company, pursuant to which it will be merged with and into the Company, subject to certain conditions
LIBOR: London Interbank Offered Rate
MBS: Mortgage-backed securities
NPV: Net portfolio value
OCC: Office of the Comptroller of the Currency
SEC: Securities and Exchange Commission
SOFR: Secured Overnight Financing Rate
PART I. FINANCIAL INFORMATION
Item 1. Unaudited Financial Statements
GERMAN AMERICAN BANCORP, INC.
CONSOLIDATED BALANCE SHEETS
(unaudited, dollars in thousands except share and per share data)
| | | | | | | | | | | | | | |
| | June 30, 2024 | | December 31, 2023 |
ASSETS | | | | |
Cash and Due from Banks | | $ | 70,418 | | | $ | 78,805 | |
Federal Funds Sold and Other Short-term Investments | | 258,901 | | | 36,525 | |
Cash and Cash Equivalents | | 329,319 | | | 115,330 | |
| | | | |
Interest-bearing Time Deposits with Banks | | 500 | | | 500 | |
Securities Available-for-Sale, at Fair Value (Amortized Cost $1,649,299 for June 30, 2024; Amortized Cost $1,871,260 for December 31, 2023; No Allowance for Credit Losses) | | 1,373,812 | | | 1,596,832 | |
Other Investments | | 353 | | | 353 | |
| | | | |
Loans Held-for-Sale, at Fair Value | | 15,419 | | | 5,226 | |
| | | | |
Loans | | 4,044,268 | | | 3,977,900 | |
Less: Unearned Income | | (7,141) | | | (6,818) | |
Allowance for Credit Losses | | (43,946) | | | (43,765) | |
Loans, Net | | 3,993,181 | | | 3,927,317 | |
| | | | |
Stock in FHLB of Indianapolis and Other Restricted Stock, at Cost | | 14,530 | | | 14,687 | |
Premises, Furniture and Equipment, Net | | 105,651 | | | 106,776 | |
Other Real Estate | | 33 | | | — | |
Goodwill | | 179,025 | | | 180,357 | |
Intangible Assets | | 5,070 | | | 6,307 | |
Company Owned Life Insurance | | 86,392 | | | 85,840 | |
Accrued Interest Receivable and Other Assets | | 113,638 | | | 112,673 | |
TOTAL ASSETS | | $ | 6,216,923 | | | $ | 6,152,198 | |
| | | | |
LIABILITIES | | | | |
Non-interest-bearing Demand Deposits | | $ | 1,448,467 | | | $ | 1,493,160 | |
Interest-bearing Demand, Savings, and Money Market Accounts | | 2,984,571 | | | 2,992,761 | |
Time Deposits | | 880,519 | | | 767,042 | |
Total Deposits | | 5,313,557 | | | 5,252,963 | |
| | | | |
FHLB Advances and Other Borrowings | | 166,644 | | | 193,937 | |
Accrued Interest Payable and Other Liabilities | | 48,901 | | | 41,740 | |
TOTAL LIABILITIES | | 5,529,102 | | | 5,488,640 | |
| | | | |
SHAREHOLDERS’ EQUITY | | | | |
Common Stock, no par value, $1 stated value; 45,000,000 shares authorized | | 29,679 | | | 29,585 | |
Additional Paid-in Capital | | 390,755 | | | 389,411 | |
Retained Earnings | | 485,256 | | | 461,622 | |
Accumulated Other Comprehensive Income (Loss) | | (217,869) | | | (217,060) | |
TOTAL SHAREHOLDERS’ EQUITY | | 687,821 | | | 663,558 | |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | | $ | 6,216,923 | | | $ | 6,152,198 | |
End of period shares issued and outstanding | | 29,679,248 | | | 29,584,709 | |
See accompanying notes to consolidated financial statements.
GERMAN AMERICAN BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(unaudited, dollars in thousands except per share data)
| | | | | | | | | | | | | | |
| | Three Months Ended June 30, |
| | 2024 | | 2023 |
INTEREST INCOME | | | | |
Interest and Fees on Loans | | $ | 59,230 | | | $ | 52,202 | |
Interest on Federal Funds Sold and Other Short-term Investments | | 2,383 | | | 660 | |
Interest and Dividends on Securities: | | | | |
Taxable | | 5,225 | | | 5,223 | |
Non-taxable | | 4,739 | | | 5,429 | |
TOTAL INTEREST INCOME | | 71,577 | | | 63,514 | |
| | | | |
INTEREST EXPENSE | | | | |
Interest on Deposits | | 23,385 | | | 13,357 | |
Interest on FHLB Advances and Other Borrowings | | 2,221 | | | 1,899 | |
TOTAL INTEREST EXPENSE | | 25,606 | | | 15,256 | |
| | | | |
NET INTEREST INCOME | | 45,971 | | | 48,258 | |
Provision for Credit Losses | | 625 | | | 550 | |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | | 45,346 | | | 47,708 | |
| | | | |
NON-INTEREST INCOME | | | | |
Wealth Management Fees | | 3,783 | | | 2,912 | |
Service Charges on Deposit Accounts | | 3,093 | | | 2,883 | |
Insurance Revenues | | 1,506 | | | 2,130 | |
Company Owned Life Insurance | | 525 | | | 429 | |
Interchange Fee Income | | 4,404 | | | 4,412 | |
Gain on Sale of Assets of German American Insurance | | 38,323 | | | — | |
Other Operating Income | | 1,213 | | | 1,462 | |
Net Gains on Sales of Loans | | 969 | | | 630 | |
Net Gains (Losses) on Securities | | (34,893) | | | 38 | |
TOTAL NON-INTEREST INCOME | | 18,923 | | | 14,896 | |
| | | | |
NON-INTEREST EXPENSE | | | | |
Salaries and Employee Benefits | | 20,957 | | | 20,103 | |
Occupancy Expense | | 2,488 | | | 2,547 | |
Furniture and Equipment Expense | | 999 | | | 896 | |
FDIC Premiums | | 710 | | | 687 | |
Data Processing Fees | | 3,019 | | | 2,803 | |
Professional Fees | | 3,462 | | | 1,614 | |
Advertising and Promotion | | 909 | | | 1,261 | |
Intangible Amortization | | 532 | | | 734 | |
Other Operating Expenses | | 4,598 | | | 5,081 | |
TOTAL NON-INTEREST EXPENSE | | 37,674 | | | 35,726 | |
| | | | |
Income before Income Taxes | | 26,595 | | | 26,878 | |
Income Tax Expense | | 6,065 | | | 4,755 | |
NET INCOME | | $ | 20,530 | | | $ | 22,123 | |
| | | | |
Basic Earnings per Share | | $ | 0.69 | | | $ | 0.75 | |
Diluted Earnings per Share | | $ | 0.69 | | | $ | 0.75 | |
See accompanying notes to consolidated financial statements.
GERMAN AMERICAN BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(unaudited, dollars in thousands except per share data)
| | | | | | | | | | | | | | |
| | Six Months Ended June 30, |
| | 2024 | | 2023 |
INTEREST INCOME | | | | |
Interest and Fees on Loans | | $ | 117,056 | | | $ | 101,263 | |
Interest on Federal Funds Sold and Other Short-term Investments | | 2,682 | | | 1,005 | |
Interest and Dividends on Securities: | | | | |
Taxable | | 10,077 | | | 10,619 | |
Non-taxable | | 10,020 | | | 11,116 | |
TOTAL INTEREST INCOME | | 139,835 | | | 124,003 | |
| | | | |
INTEREST EXPENSE | | | | |
Interest on Deposits | | 44,374 | | | 22,328 | |
Interest on FHLB Advances and Other Borrowings | | 4,496 | | | 4,408 | |
TOTAL INTEREST EXPENSE | | 48,870 | | | 26,736 | |
| | | | |
NET INTEREST INCOME | | 90,965 | | | 97,267 | |
Provision for Credit Losses | | 1,525 | | | 1,650 | |
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | | 89,440 | | | 95,617 | |
| | | | |
NON-INTEREST INCOME | | | | |
Wealth Management Fees | | 7,149 | | | 5,556 | |
Service Charges on Deposit Accounts | | 5,995 | | | 5,671 | |
Insurance Revenues | | 4,384 | | | 5,265 | |
Company Owned Life Insurance | | 966 | | | 830 | |
Interchange Fee Income | | 8,491 | | | 8,611 | |
Gain on Sale of Assets of German American Insurance | | 38,323 | | | — | |
Other Operating Income | | 2,575 | | | 2,673 | |
Net Gains on Sales of Loans | | 1,720 | | | 1,217 | |
Net Gains (Losses) on Securities | | (34,858) | | | 40 | |
TOTAL NON-INTEREST INCOME | | 34,745 | | | 29,863 | |
| | | | |
NON-INTEREST EXPENSE | | | | |
Salaries and Employee Benefits | | 42,135 | | | 41,949 | |
Occupancy Expense | | 5,316 | | | 5,457 | |
Furniture and Equipment Expense | | 1,975 | | | 1,806 | |
FDIC Premiums | | 1,439 | | | 1,428 | |
Data Processing Fees | | 5,830 | | | 5,558 | |
Professional Fees | | 5,057 | | | 3,176 | |
Advertising and Promotion | | 2,047 | | | 2,428 | |
Intangible Amortization | | 1,110 | | | 1,519 | |
Other Operating Expenses | | 9,503 | | | 10,021 | |
TOTAL NON-INTEREST EXPENSE | | 74,412 | | | 73,342 | |
| | | | |
Income before Income Taxes | | 49,773 | | | 52,138 | |
Income Tax Expense | | 10,221 | | | 9,208 | |
NET INCOME | | $ | 39,552 | | | $ | 42,930 | |
| | | | |
Basic Earnings per Share | | $ | 1.33 | | | $ | 1.45 | |
Diluted Earnings per Share | | $ | 1.33 | | | $ | 1.45 | |
See accompanying notes to consolidated financial statements.
GERMAN AMERICAN BANCORP, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(unaudited, dollars in thousands)
| | | | | | | | | | | | | | |
| | Three Months Ended June 30, |
| | 2024 | | 2023 |
| | | | |
NET INCOME | | $ | 20,530 | | | $ | 22,123 | |
| | | | |
Other Comprehensive Income (Loss): | | | | |
Unrealized Gains (Losses) on Securities: | | | | |
Unrealized Holding Gain (Loss) Arising During the Period | | (10,739) | | | (23,243) | |
Reclassification Adjustment for Gains Included in Net Income | | 34,893 | | | (38) | |
Tax Effect | | (5,068) | | | 4,921 | |
Net of Tax | | 19,086 | | | (18,360) | |
| | | | |
Total Other Comprehensive Income (Loss) | | 19,086 | | | (18,360) | |
| | | | |
COMPREHENSIVE INCOME | | $ | 39,616 | | | $ | 3,763 | |
| | | | | | | | | | | | | | |
| | Six Months Ended June 30, |
| | 2024 | | 2023 |
| | | | |
NET INCOME | | $ | 39,552 | | | $ | 42,930 | |
| | | | |
Other Comprehensive Income (Loss): | | | | |
Unrealized Gains (Losses) on Securities: | | | | |
Unrealized Holding Gain (Loss) Arising During the Period | | (35,917) | | | 18,506 | |
Reclassification Adjustment for Gains Included in Net Income | | 34,858 | | | (40) | |
Tax Effect | | 250 | | | (3,880) | |
Net of Tax | | (809) | | | 14,586 | |
| | | | |
Total Other Comprehensive Income (Loss) | | (809) | | | 14,586 | |
| | | | |
COMPREHENSIVE INCOME | | $ | 38,743 | | | $ | 57,516 | |
| | | | |
See accompanying notes to consolidated financial statements.
GERMAN AMERICAN BANCORP, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(unaudited, dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Common Stock | | | | | | | | |
| | Shares | | Amount | | Additional Paid-in Capital | | Retained Earnings | | Accumulated Other Comprehensive Income (Loss) | | Total Shareholders’ Equity |
Balances, January 1, 2024 | | 29,584,709 | | | $ | 29,585 | | | $ | 389,411 | | | $ | 461,622 | | | $ | (217,060) | | | $ | 663,558 | |
| | | | | | | | | | | | |
Net Income | | — | | | — | | | — | | | 19,022 | | | — | | | 19,022 | |
Other Comprehensive Income (Loss) | | — | | | — | | | — | | | — | | | (19,895) | | | (19,895) | |
Cash Dividends ($0.27 per share) | | — | | | — | | | — | | | (7,955) | | | — | | | (7,955) | |
Issuance of Common Stock for: | | | | | | | | | | | | |
| | | | | | | | | | | | |
Restricted Share Grants Net | | 84,310 | | | 84 | | | 440 | | | — | | | — | | | 524 | |
| | | | | | | | | | | | |
Balances, March 31, 2024 | | 29,669,019 | | | $ | 29,669 | | | $ | 389,851 | | | $ | 472,689 | | | $ | (236,955) | | | $ | 655,254 | |
| | | | | | | | | | | | |
Net Income | | — | | | — | | | — | | | 20,530 | | | — | | | 20,530 | |
Other Comprehensive Income (Loss) | | — | | | — | | | — | | | — | | | 19,086 | | | 19,086 | |
Cash Dividends ($0.27 per share) | | — | | | — | | | — | | | (7,963) | | | — | | | (7,963) | |
Issuance of Common Stock for: | | | | | | | | | | | | |
| | | | | | | | | | | | |
Restricted Share Grants Net | | 10,229 | | | 10 | | | 904 | | | — | | | — | | | 914 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
Balances, June 30, 2024 | | 29,679,248 | | | $ | 29,679 | | | $ | 390,755 | | | $ | 485,256 | | | $ | (217,869) | | | $ | 687,821 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Common Stock | | | | | | | | |
| | Shares | | Amount | | Additional Paid-in Capital | | Retained Earnings | | Accumulated Other Comprehensive Income (Loss) | | Total Shareholders’ Equity |
Balances, January 1, 2023 | | 29,493,193 | | | $ | 29,493 | | | $ | 387,171 | | | $ | 405,167 | | | $ | (263,438) | | | $ | 558,393 | |
| | | | | | | | | | | | |
Net Income | | — | | | — | | | — | | | 20,807 | | | — | | | 20,807 | |
Other Comprehensive Income (Loss) | | — | | | — | | | — | | | — | | | 32,946 | | | 32,946 | |
Cash Dividends ($0.25 per share) | | — | | | — | | | — | | | (7,354) | | | — | | | (7,354) | |
Issuance of Common Stock for: | | | | | | | | | | | | |
| | | | | | | | | | | | |
Restricted Share Grants Net | | 80,246 | | | 80 | | | 459 | | | — | | | — | | | 539 | |
| | | | | | | | | | | | |
Balances, March 31, 2023 | | 29,573,439 | | | $ | 29,573 | | | $ | 387,630 | | | $ | 418,620 | | | $ | (230,492) | | | $ | 605,331 | |
| | | | | | | | | | | | |
Net Income | | — | | | — | | | — | | | 22,123 | | | — | | | 22,123 | |
Other Comprehensive Income (Loss) | | — | | | — | | | — | | | — | | | (18,360) | | | (18,360) | |
Cash Dividends ($0.25 per share) | | — | | | — | | | — | | | (7,359) | | | — | | | (7,359) | |
Issuance of Common Stock for: | | | | | | | | | | | | |
| | | | | | | | | | | | |
Restricted Share Grants Net | | (656) | | | — | | | 830 | | | — | | | — | | | 830 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
Balances, June 30, 2023 | | 29,572,783 | | | $ | 29,573 | | | $ | 388,460 | | | $ | 433,384 | | | $ | (248,852) | | | $ | 602,565 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
See accompanying notes to consolidated financial statements.
GERMAN AMERICAN BANCORP, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, dollars in thousands)
| | | | | | | | | | | | | | |
| | Six Months Ended June 30, |
| | 2024 | | 2023 |
CASH FLOWS FROM OPERATING ACTIVITIES | | | | |
Net Income | | $ | 39,552 | | | $ | 42,930 | |
Adjustments to Reconcile Net Income to Net Cash from Operating Activities: | | | | |
Net Amortization on Securities | | 2,724 | | | 2,779 | |
Depreciation and Amortization | | 4,665 | | | 4,840 | |
Loans Originated for Sale | | (67,025) | | | (48,256) | |
Proceeds from Sales of Loans Held-for-Sale | | 58,375 | | | 49,744 | |
Provision for Credit Losses | | 1,525 | | | 1,650 | |
Gain on Sale of Loans, net | | (1,720) | | | (1,217) | |
(Gain) Loss on Securities, net | | 34,858 | | | (40) | |
| | | | |
| | | | |
Loss (Gain) on Disposition and Donation of Premises and Equipment | | (20) | | | 2 | |
| | | | |
Increase in Cash Surrender Value of Company Owned Life Insurance | | (552) | | | (928) | |
Equity Based Compensation | | 1,438 | | | 1,369 | |
Gain on Sale of Assets of German American Insurance | | (36,507) | | | — | |
Change in Assets and Liabilities: | | | | |
Interest Receivable and Other Assets | | (1,836) | | | 601 | |
Interest Payable and Other Liabilities | | 7,085 | | | (233) | |
Net Cash from Operating Activities | | 42,562 | | | 53,241 | |
| | | | |
CASH FLOWS FROM INVESTING ACTIVITIES | | | | |
| | | | |
Proceeds from Maturities of Securities Available-for-Sale | | 148,069 | | | 145,360 | |
| | | | |
Proceeds from Sales of Securities Available-for-Sale | | 226,367 | | | 114,259 | |
Purchase of Securities Available-for-Sale | | (190,057) | | | (82,933) | |
| | | | |
Proceeds from Redemption of Federal Home Loan Bank Stock | | 157 | | | 181 | |
Purchase of Loans | | — | | | (173) | |
| | | | |
Loans Made to Customers, net of Payments Received | | (67,422) | | | (42,454) | |
| | | | |
Property and Equipment Expenditures | | (2,909) | | | (4,464) | |
| | | | |
| | | | |
| | | | |
Proceeds from Sale of German American Insurance Assets | | 40,000 | | | — | |
| | | | |
Net Cash from Investing Activities | | 154,205 | | | 129,776 | |
| | | | |
CASH FLOWS FROM FINANCING ACTIVITIES | | | | |
Change in Deposits | | 60,661 | | | (170,162) | |
Change in Short-term Borrowings | | (27,446) | | | (1,487) | |
Advances in Long-term Debt | | 50,000 | | | 25,000 | |
Repayments of Long-term Debt | | (50,075) | | | (63) | |
| | | | |
Dividends Paid | | (15,918) | | | (14,713) | |
Net Cash from Financing Activities | | 17,222 | | | (161,425) | |
| | | | |
Net Change in Cash and Cash Equivalents | | 213,989 | | | 21,592 | |
Cash and Cash Equivalents at Beginning of Year | | 115,330 | | | 119,079 | |
Cash and Cash Equivalents at End of Period | | $ | 329,319 | | | $ | 140,671 | |
| | | | | | | | | | | | | | |
Cash Paid During the Period for | | | | |
Interest | | $ | 46,426 | | | $ | 24,353 | |
Income Taxes | | 9,360 | | | 9,736 | |
| | | | |
Supplemental Non Cash Disclosures |
| | | | |
Interest Rate Swap Fair Value Adjustment | | $ | 350 | | | $ | (637) | |
| | | | |
| | | | |
See accompanying notes to consolidated financial statements.
GERMAN AMERICAN BANCORP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2024
(unaudited, dollars in thousands except share and per share data)
NOTE 1 – Basis of Presentation and Market Conditions
German American Bancorp, Inc. operates primarily in the banking industry. The accounting and reporting policies of German American Bancorp, Inc. and its subsidiaries (hereinafter collectively referred to as the “Company”) conform to U.S. generally accepted accounting principles. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. All adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the periods reported have been included in the accompanying unaudited consolidated financial statements, and all such adjustments are of a normal recurring nature. It is suggested that these consolidated financial statements and notes be read in conjunction with the financial statements and notes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Certain items included in the prior period financial statements were reclassified to conform to the current presentation. There was no effect on net income or total shareholders’ equity based on these reclassifications.
NOTE 2 - Recent Accounting Pronouncements
Recently Adopted Accounting Guidance
In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”. These amendments provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. In January 2021, the FASB issued ASU 2021-01 which clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The guidance is effective for all entities as of March 12, 2020 through December 31, 2024. The Company has discontinued originating LIBOR based loans and transitioned formerly LIBOR indexed loans to term SOFR and other indices.
On March 31, 2022, the FASB issued ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” which eliminates the troubled debt restructuring recognition and measurement guidance and instead requires an entity to evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendments also enhance existing disclosures and include new disclosure requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. To improve consistency for vintage disclosures, the ASU requires that public business entities disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20. For entities that have adopted ASU 2016-13, the amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. For entities that have not adopted ASU 2016-13, the effective dates for the amendments are the same as the effective dates in ASU 2016-13. Early adoption is permitted if ASU 2016-13 has been adopted, including adoption in an interim period. If an entity elects to adopt the amendments in an interim period, the guidance should be applied as of the beginning of the fiscal year that includes the interim period. The Company adopted the new guidance prospectively with no material impact to the consolidated financial statements.
The SEC’s Staff Accounting Bulletin No. 121 (“SAB 121”) provides interpretive guidance regarding the accounting for obligations to safeguard crypto-assets an entity holds for its customers, either directly or through an agent or another third party acting on its behalf. SAB 121 requires an entity to recognize a liability on its balance sheet to reflect the obligation to safeguard the crypto-assets of others, along with a corresponding safeguarding asset, both of which are measured at fair value. The Company has completed an evaluation and concluded that it does not have a safeguarding obligation under SAB 121 and therefore the disclosures do not apply.
On March 29, 2023, the FASB issued ASU 2023-02, “Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method” to expand use of the proportional amortization method of accounting to equity investments in tax credit programs beyond those in low-income-housing tax credit (LIHTC) programs. The amendments in this update permit reporting entities to account for certain tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. This guidance provides clarifications to address interpretive issues and
GERMAN AMERICAN BANCORP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2024
(unaudited, dollars in thousands except share and per share data)
NOTE 2 - Recent Accounting Pronouncements (continued)
prescribes specific information that reporting entities must disclose about tax credit investments each period. The Company adopted this standard and there was no impact on the Company’s financial statements or disclosures.
Issued But Not Yet Effective
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within annual periods beginning after December 15, 2024. Retrospective application is required. The Company doesn’t expect this guidance to have a material impact on its segment disclosure.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvement to Income Tax Disclosures”. This updated accounting guidance requires expanded income tax disclosures, including the disaggregation of existing disclosures related to the tax rate reconciliation and income taxes paid. This guidance is effective for annual periods beginning after December 15, 2024 and will be applied on a prospective basis with the option to apply retrospectively. The Company is reviewing this guidance but doesn’t expect it to have a material impact on the Company’s tax disclosures.
NOTE 3 – Sale of Insurance Assets
Effective June 1, 2024, the Company completed a sale of substantially all of the assets of its wholly-owned subsidiary, German American Insurance, Inc. (“GAI”), to Hilb Group and ceased insurance-related activities for the Company. The all-cash sales price totaled $40,000 and resulted in an after-tax gain, net of transaction costs, of approximately $27,476, or $0.93 on a per share basis.
| | | | | |
Gross Purchase Price pursuant to Asset Purchase Agreement | $ | 40,000 | |
Write-off of Goodwill and Intangibles | (1,332) | |
Working Capital Adjustment Settled at Closing | (345) | |
Net Purchase Price | 38,323 | |
Transaction Costs | (1,816) | |
Pre-tax Gain on Sale of Insurance Assets | $ | 36,507 | |
After-tax Gain on Sale of Insurance Assets | $ | 27,476 | |
Based on management’s review of ASC 205-20-45, the sale of GAI was determined not to have met all necessary criteria to be considered discontinued operations at, or prior to, the time of the sale.
GERMAN AMERICAN BANCORP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2024
(unaudited, dollars in thousands except share and per share data)
NOTE 4 – Per Share Data
The computation of Basic Earnings per Share and Diluted Earnings per Share are as follows:
| | | | | | | | | | | | | | |
| | Three Months Ended June 30, |
| | 2024 | | 2023 |
Basic Earnings per Share: | | | | |
Net Income | | $ | 20,530 | | | $ | 22,123 | |
Weighted Average Shares Outstanding | | 29,667,770 | | | 29,573,042 | |
Basic Earnings per Share | | $ | 0.69 | | | $ | 0.75 | |
| | | | |
Diluted Earnings per Share: | | | | |
Net Income | | $ | 20,530 | | | $ | 22,123 | |
| | | | |
Weighted Average Shares Outstanding | | 29,667,770 | | | 29,573,042 | |
Potentially Dilutive Shares, Net | | — | | | — | |
Diluted Weighted Average Shares Outstanding | | 29,667,770 | | | 29,573,042 | |
Diluted Earnings per Share | | $ | 0.69 | | | $ | 0.75 | |
For the three months ended June 30, 2024 and 2023, there were no anti-dilutive shares.
| | | | | | | | | | | | | | |
| | Six Months Ended June 30, |
| | 2024 | | 2023 |
Basic Earnings per Share: | | | | |
Net Income | | $ | 39,552 | | | $ | 42,930 | |
Weighted Average Shares Outstanding | | 29,633,631 | | | 29,540,425 | |
Basic Earnings per Share | | $ | 1.33 | | | $ | 1.45 | |
| | | | |
Diluted Earnings per Share: | | | | |
Net Income | | $ | 39,552 | | | $ | 42,930 | |
| | | | |
Weighted Average Shares Outstanding | | 29,633,631 | | | 29,540,425 | |
Potentially Dilutive Shares, Net | | — | | | — | |
Diluted Weighted Average Shares Outstanding | | 29,633,631 | | | 29,540,425 | |
Diluted Earnings per Share | | $ | 1.33 | | | $ | 1.45 | |
For the six months ended June 30, 2024 and 2023, there were no anti-dilutive shares.
GERMAN AMERICAN BANCORP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2024
(unaudited, dollars in thousands except share and per share data)
NOTE 5 – Securities
The amortized cost, unrealized gross gains and losses recognized in accumulated other comprehensive income (loss), and fair value of securities available-for-sale were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Securities Available-for-Sale: | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | | | Fair Value |
| | | | | | | | | | |
June 30, 2024 | | | | | | | | | | |
U.S. Treasury | | $ | 73,564 | | | $ | 4 | | | $ | — | | | | | $ | 73,568 | |
Obligations of State and Political Subdivisions | | 700,223 | | | 3 | | | (124,986) | | | | | 575,240 | |
MBS/CMO | | 681,737 | | | 11 | | | (113,984) | | | | | 567,764 | |
US Gov’t Sponsored Entities & Agencies | | 193,775 | | | — | | | (36,535) | | | | | 157,240 | |
Total | | $ | 1,649,299 | | | $ | 18 | | | $ | (275,505) | | | | | $ | 1,373,812 | |
| | | | | | | | | | |
December 31, 2023 | | | | | | | | | | |
U.S. Treasury | | $ | — | | | $ | — | | | $ | — | | | | | $ | — | |
Obligations of State and Political Subdivisions | | 889,940 | | | 1,309 | | | (122,374) | | | | | 768,875 | |
MBS/CMO | | 761,025 | | | 28 | | | (116,013) | | | | | 645,040 | |
US Gov’t Sponsored Entities & Agencies | | 220,295 | | | — | | | (37,378) | | | | | 182,917 | |
Total | | $ | 1,871,260 | | | $ | 1,337 | | | $ | (275,765) | | | | | $ | 1,596,832 | |
All mortgage-backed securities in the above table (identified above and throughout this Note 5 as “MBS/CMO”) are residential and multi-family mortgage-backed securities and guaranteed by government sponsored entities. The US Gov’t Sponsored Entities & Agencies in the above table include securities that have underlying collateral of equipment, machinery and commercial real estate.
The amortized cost and fair value of securities available-for-sale at June 30, 2024 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because some issuers have the right to call or prepay certain obligations with or without call or prepayment penalties. Mortgage-backed Securities are not due at a single maturity date and are shown separately.
| | | | | | | | | | | | | | |
Securities Available-for-Sale: | | Amortized Cost | | Fair Value |
| | | | |
Due in one year or less | | $ | 74,490 | | | $ | 74,490 | |
Due after one year through five years | | 9,181 | | | 9,099 | |
Due after five years through ten years | | 44,144 | | | 39,766 | |
Due after ten years | | 645,972 | | | 525,453 | |
MBS/CMO | | 681,737 | | | 567,764 | |
US Gov’t Sponsored Entities & Agencies | | 193,775 | | | 157,240 | |
Total | | $ | 1,649,299 | | | $ | 1,373,812 | |
At the end of the second quarter of 2024, the Company commenced a securities portfolio restructuring transaction whereby available-for-sale securities totaling $375,321 in book value were identified to be sold. As of June 30, 2024, $175,061 of securities were sold with the remaining $200,259 sold during early July 2024. It was management’s intent that these securities be sold as of June 30, 2024; therefore, the securities’ amortized cost basis was reduced to fair value through income in these consolidated financial statements as of June 30, 2024. Proceeds from the sales of securities are summarized below:
GERMAN AMERICAN BANCORP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2024
(unaudited, dollars in thousands except share and per share data)
NOTE 5 - Securities (continued)
| | | | | | | | | | | | | | |
| | Three Months Ended | | Three Months Ended |
| | June 30, 2024 | | June 30, 2023 |
| | | | |
Proceeds from Sales | | $ | 164,205 | | | $ | 20,507 | |
Gross Gains on Sales | | 184 | | | 89 | |
Gross Losses on Sales | | 35,077 | | | 51 | |
Income Taxes on Net Gains (Losses) | | (7,704) | | | 8 | |
| | | | | | | | | | | | | | |
| | Six Months Ended | | Six Months Ended |
| | June 30, 2024 | | June 30, 2023 |
| | | | |
Proceeds from Sales | | $ | 226,367 | | | $ | 114,259 | |
Gross Gains on Sales | | 544 | | | |