Form 8-K
8-K — GERMAN AMERICAN BANCORP, INC.
Accession: 0000714395-26-000039
Filed: 2026-09-08
Period: 2026-09-08
CIK: 0000714395
SIC: 6022 (STATE COMMERCIAL BANKS)
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — gabc-20260908.htm (Primary)
EX-99.1 (investorpresentationrj09.htm)
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8-K
8-K (Primary)
Filename: gabc-20260908.htm · Sequence: 1
gabc-20260908
false000071439500007143952026-09-082026-09-08
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
______________________
Date of Report (Date of earliest event reported): September 8, 2026
GERMAN AMERICAN BANCORP, INC.
(Exact name of registrant as specified in its charter)
Indiana
(State or other jurisdiction of incorporation)
001-15877 35-1547518
(Commission File Number) (IRS Employer Identification No.)
711 Main Street
Jasper, Indiana 47546
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (812) 482-1314
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2).
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 ☐
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
Item 7.01. Regulation FD Disclosure.
D. Neil Dauby, Chairman and Chief Executive Officer, and Bradley M. Rust, President and Chief Financial Officer, of German American Bancorp, Inc. will participate in the Raymond James 2026 U.S. Bank Conference by hosting a series of meetings with investors on September 9, 2026.
Attached as Exhibit 99.1 is the information that will be provided to meeting participants. Such information is incorporated herein by reference.
The information in this Item 7.01, including the information incorporated herein from Exhibit 99.1, is furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1
German American Bancorp, Inc. Presentation dated September 9, 2026.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
* * * * * *
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GERMAN AMERICAN BANCORP, INC.
Date: September 8, 2026
By: /s/ D. Neil Dauby
D. Neil Dauby, Chairman and Chief Executive Officer
EX-99.1
EX-99.1
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investorpresentationrj09
Neil Dauby, Chairman & CEO neil.dauby@germanamerican.com Brad Rust, President & CFO brad.rust@germanamerican.com Scan for electronic presentation GABC 2nd Quarter 2026 Raymond James 2026 US Bank Conference September 9, 2026
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS When used in this presentation and our oral statements, the words or phrases “believe,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this presentation, and we do not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur in the future. By their nature, these statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those anticipated in the statements. Factors that could cause actual results and performance to vary materially from those expressed or implied by any forward-looking statement include those that are discussed in Item 1, “Business – Forward Looking Statements and Associated Risk,” and Item 1A, “Risk Factors,” in our Annual Report on Form 10-K for 2025 as updated and supplemented by our other SEC reports filed from time to time. 2
Indiana, Kentucky & Ohio Community-focused Financial Services Organization Who We Are 3 $8.4 Billion Total Banking Assets $4.3 Billion Investment & Trust Assets Under Management ~1,060 Team Members 93 Banking Offices in Indiana, Kentucky & Ohio
4 History of Financial Performance & Growth Fourteen Consecutive Years of Increased Dividends History of Improved Earnings Performance Double-Digit Return on Equity for 21+ Consecutive Fiscal Years
FINANCIAL TRENDS 5
Total Assets 6 $5,609 $6,156 $6,152 $6,296 $8,389 $8,440 1.57% 1.26% 1.42% 1.34% 1.57% 1.69% 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 06/30/26 (dollars in millions, except per share amount) Return on Average Assets * * **Reflects certain adjustments. Refer to "Use of Non-GAAP Financial Measures" for additional information, including a reconciliation to the comparable GAAP financial measure. ** *2022 was impacted by acquisition-related expenses and the Day 2 provision for credit losses under the CECL model for the CUB transaction that closed on January 1, 2022 of $18.623 million ($14.097 million or $0.48 per share on an after tax basis). **
Loan Portfolio Trends 7 $3,004 $3,785 $3,971 $4,125 $5,875 $5,932 81% 81% 81% 80% 76% 76% 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 06/30/26 Total Loans, Net of Unearned Income Commercial & Agricultural Loans as % of Total Loans (dollars in millions) 56.62% 52.07% 56.26% 61.23% 64.51% 61.14% 40.74% 40.04% 39.71% 40.80% 43.18% 43.69% 31.35% 31.86% 31.49% 33.37% 37.33% 38.13% 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 06/30/26 Line of Credit Utilization Trend Ag - Line Utilization HELOC - Line Utilization Commercial - Line Utilization
Floating 34% Fixed 27% 1 YR Adjustable 10% 3 YR + Adjustable 29% Rate Type Segmentation Construction & Development Loans $ 505.3 million 9% Agricultural Loans $ 476.7 million 8% Commercial & Industrial Loans $ 779.8 million 13% Commerical Real Estate Owner Occupied $ 834.2 million 14% Commercial Real Estate Non- Owner Occupied $ 1,452.0 million 24% Multi-Family Residential Properties $ 510.6 million 9% Consumer Loans $ 75.9 million 1% Home Equity Loans $ 526.9 million 9% Residential Mortgage Loans $ 770.8 million 13% Loan Portfolio Composition & Diversification Total Loans $ 5,932.2 million (Net of Unearned Income) Diversified Loan Portfolio as of June 30, 2026 8
0.26% 0.23% 0.15% 0.18% 0.35% 0.32% 0.34% 0.29% 0.37% 0.49% 0.56% 0.60% 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 06/30/26 GABC Peer Group * Non- Performing Assets to Total Assets 9 * Peer Group (St. Louis Federal Reserve District BHC with Total Assets between $3 and $10 billion) Data as of 3/31/26.
Total Deposits 10 $4,744 $5,350 $5,253 $5,329 $6,990 $6,996 93% 92% 85% 83% 82% 81% 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 06/30/26 Non-Maturity Deposit Accounts as % of Total Deposits (dollars in millions) Cost of Deposits Per Year 2021 0.11% 2022 0.24% 2023 1.10% 2024 1.71% 2025 1.66% Cost of Deposits Per Quarter 06/30/25 1.73% 09/30/25 1.67% 12/31/25 1.56% 03/31/26 1.45% 06/30/26 1.43%
Commercial $2,463 million 35% Public Fund $1,367 million 20% Retail $3,166 million 45% Non-Interest Bearing Demand $1,968 million 28% Interest Bearing Demand, Savings & Money Market $3,676 million 53% Time Deposits < $100,000 $452 million 6% Time Deposits > $100,000 $900 million 13% 11 Total Deposit Composition as of June 30, 2026 Total Deposits $6,996 million 25% of Total Deposits are Uninsured and Uncollateralized as of 6/30/2026.
16.38% 19.51% 21.69% 16.73% 19.79% 18.26% 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 06/30/26 YTD Return on Average Tangible Common Equity Total Shareholders' Equity 12 * *Reflects certain adjustments. Refer to "Use of Non-GAAP Financial Measures" for additional information, including a reconciliation to the comparable GAAP financial measure. $668 $558 $664 $715 $1,162 $1,212 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 06/30/26 (dollars in millions) *
Regulatory Capital Levels 13 15.50% 14.57% 14.06% 12.25% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 20.00% Total Capital (to Risk Weighted Assets) Tier 1 (Core) Capital (to Risk Weighted Assets) Common Tier 1 (CET 1) Capital Ratio (to Risk Weighted Assets) Tier 1 Capital (to Average Assets) 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 06/30/26
Net Interest Income 14 $160,830 $200,584 $190,433 $190,591 $294,132 $139,727 $160,059 3.31% 3.45% 3.58% 3.43% 4.02% 3.94% 4.28% 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 06/30/25 YTD 06/30/26 YTD Net Interest Margin (Tax-Equivalent) (dollars in thousands)
Net Gains on Sales of Loans $3.1 million 9% Service Charges on Deposit Accounts $7.8 million 22% Wealth Management $9.5 million 26% Interchange Fee Income $10.1 million 28% Other Operating Income $5.5 million 15% Total Non-Interest Income $36.0 million $59,462 $59,133 $60,261 $54,691 $66,620 $31,573 $35,972 27% 23% 24% 22% 19% 18% 18% 12/31/21 12/31/22 12/31/23 12/31/24* 12/31/25* 06/30/25 YTD 06/30/26 YTD Non-Interest Income as % of Total Revenue (dollars in thousands) Non- Interest Income 15 As of June 30, 2026 *Reflects certain adjustments. Refer to "Use of Non-GAAP Financial Measures" for additional information, including a reconciliation to the comparable GAAP financial measure.
Non- Interest Expense 16 $124,007 $154,191 $144,497 $139,777 $194,953 $95,438 $102,750 54.4% 56.6% 55.1% 54.9% 50.5% 52.1% 49.3% 12/31/21 12/31/22* 12/31/23 12/31/24** 12/31/25** 06/30/25 YTD 06/30/26 YTD Efficiency Ratio *2022 was impacted by acquisition-related expenses for the CUB transaction that closed on January 1, 2022 of $12,323. (dollars in thousands) **Reflects certain adjustments. Refer to "Use of Non-GAAP Financial Measures" for additional information, including a reconciliation to the comparable GAAP financial measure. **
Net Income & Earnings Per Share 17 $84,137 $81,825 $85,888 $83,839 $129,684 $59,345 $71,324 $3.17 $2.78 $2.91 $2.83 $3.52 $1.64 $1.90 12/31/21 12/31/22* 12/31/23 12/31/24** 12/31/25** 06/30/25 YTD** 06/30/26 YTD Earnings Per Share *2022 was impacted by acquisition-related expenses and the Day 2 provision for credit losses under the CECL model for the CUB transaction that closed on January 1, 2022 of $18,623 ($14,097 or $0.48 per share on an after tax basis). (dollars in thousands, except per share amounts) **Reflects certain adjustments. Refer to "Use of Non-GAAP Financial Measures" for additional information, including a reconciliation to the comparable GAAP financial measure.
Strong Earnings Per Share Growth 18 $1.07 $1.27 $1.32 $1.43 $1.51 $1.57 $1.77 $1.99 $2.29 $2.34 $3.17 $2.78 $2.91 $2.83 $3.52 2011* 2012* 2013* 2014* 2015* 2016* 2017 2018 2019 2020 2021 2022** 2023 2024*** 2025*** As of 12/31 for years shown *Earnings Per Share adjusted for 3- for-2 s tock split completed in 2017. **2022 was impacted by acquisition-related expenses and the Day 2 provision for credit losses under the CECL model for the CUB transaction that closed on January 1, 2022 of $18,623,000 ($14,097,000 or $0.48 per share on an after tax basis). ***Reflects certain adjustments. Refer to "Use of Non-GAAP Financial Measures" for additional information, including a reconciliation to a the comparable GAAP financial measure.
Strong Dividend History 19 $0.40 $0.43 $0.45 $0.48 $0.52 $0.60 $0.68 $0.76 $0.84 $0.92 $1.00 $1.08 $1.16 $1.24 2013* 2014* 2015* 2016* 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Proforma *Dividends per share adjusted for 3-for-2 stock split completed in 2017. Cash Dividend Growth As of 12/31 for years shown Fourteen Consecutive Years of Increased Dividends
Strong Stock Performance History 20
Why Invest in GABC? 21 Diversified Footprint of Rural, Suburban, and Urban Markets Providing a Strong Deposit Franchise Base Along with Significant Organic Growth Opportunities Existing Platform for Continuous Improvement and Operating Efficiency Infrastructure in Place for Perpetuating Ongoing EPS Growth Consistent Strong Dividend Yield and Dividend Pay-out Capacity Long Term Focus and Investment in Digital Optimization and Delivery Proven Executive Management Team Track Record of Consistent Top Decile/Quartile Financial Performance Proven and Successful Acquirer and Integrator
USE OF NON-GAAP FINANCIAL MEASURES The accounting and reporting policies of German American Bancorp, Inc. (the “Company”) conform to U.S. generally accepted accounting principles (“GAAP”) and general practices within the banking industry. As a supplement to GAAP, the Company has provided certain, non-GAAP financial measures, which it believes are useful because they assist investors in assessing the Company’s operating performance. Specifically, the Company has presented its net income, earnings per share, non-interest income, non-interest expense, efficiency ratio, return on average assets, return on average equity, return on average tangible common equity, and net interest margin on an as adjusted basis for the periods set forth below to reflect the exclusion of the following items: (1) the Current Expected Credit Losses (“CECL”) “Day 2” provision expense for acquired loans that have only insignificant credit deterioration (i.e., non-PCD loans) related to the Heartland merger; (2) non-recurring expenses related to the Heartland merger; (3) the net gain on the extinguishment of debt resulting from the redemption of certain subordinated notes on September 15, 2025 and December 30, 2025; (4) the operating results for German American Insurance, Inc. (“GAI”), whose assets were sold effective June 1, 2024; (5) the gain on the sale of GAI assets; and (6) the loss related to the securities portfolio restructuring transaction that occurred in the second quarter of 2024. Management believes excluding such items from these financial measures may be useful in assessing the Company’s underlying operational performance since the applicable transactions do not pertain to its core business operations and exclusion may facilitate better comparability between periods. In addition, management believes that by excluding such items the measures are useful to the Company, as well as analysts and investors, in assessing operating performance. Management also believes excluding these items may enhance comparability for peer comparison purposes. Management believes that it is standard practice in the banking industry to present the efficiency ratio and net interest margin on a fully tax- equivalent basis and that, by doing so, it may enhance comparability for peer comparison purposes. The tax-equivalent adjustment to net interest income (for purposes of the efficiency ratio) and net interest margin recognizes the income tax savings when comparing taxable and tax- exempt assets. Interest income and yields on tax-exempt securities and loans are presented using the current federal income tax rate of 21%. Although intended to enhance investors’ understanding of the Company’s business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP. 22
USE OF NON - GAAP FINANCIAL MEASURES 23 Non-GAAP Reconciliation – Net Income and Earnings Per Share Year Ended Three Months Ended Six Months Ended (Dollars in Thousands, except per share amounts) 12/31/2024 12/31/2025 6/30/2025 6/30/2026 6/30/2025 6/30/2026 Net Income, as reported $ 83,811 $ 112,635 $ 31,361 $ 38,172 $ 41,878 $ 71,324 Adjustments: Plus: CECL Day 2 non-PCD provision - 12,150 - - 12,150 - Plus: Non-recurring merger-related expenses 1,082 5,418 697 - 5,317 - Less: Net gain on debt extinguishment - 519 - - - - Less: Loss on securities restructuring (27,189) - - - - - Less: Income from GAI operations 767 - - - - - Less: Gain on sale of GAI assets 27,476 - - - - - Adjusted Net Income $ 83,839 $ 129,684 $ 32,058 $ 38,172 $ 59,345 $ 71,324 Weighted Average Shares Outstanding 29,656,416 36,796,342 37,479,342 37,564,295 36,087,762 37,541,192 Earnings Per Share, as reported $ 2.83 $ 3.06 $ 0.84 $ 1.02 $ 1.16 $ 1.90 Earnings Per Share, as adjusted $ 2.83 $ 3.52 $ 0.86 $ 1.02 $ 1.64 $ 1.90 Non-GAAP Reconciliation – Non-Interest Income and Non-Interest Expense Year Ended Three Months Ended Six Months Ended (Dollars in Thousands) 12/31/2024 12/31/2025 6/30/2025 6/30/2026 6/30/2025 6/30/2026 Non-Interest Income $ 62,660 $ 67,312 $ 16,733 $ 18,746 $ 31,573 $ 35,972 Less: Gain (Losses) on securities 105 - - - - - Less: Loss on securities restructuring (34,893) - - - - - Less: Net gain on debt extinguishment - 692 - - - - Less: Revenue from GAI operations 4,434 - - - - - Less: Gain on sale of GAI assets 38,323 - - - - - Adjusted Non-Interest Income $ 54,691 $ 66,620 $ 16,733 $ 18,746 $ 31,573 $ 35,972 Non-Interest Expense $ 146,377 $ 201,949 $ 49,517 $ 50,382 $ 102,299 $ 102,750 Less: Non-recurring merger-related expenses 1,370 6,996 929 - 6,861 - Less: Expense from GAI operations 3,414 - - - - - Less: Expense from sale of GAI assets 1,816 - - - - - Adjusted Non-Interest Expense $ 139,777 $ 194,953 $ 48,588 $ 50,382 $ 95,438 $ 102,750
USE OF NON - GAAP FINANCIAL MEASURES 24 Non-GAAP Reconciliation – Efficiency Ratio Year Ended Three Months Ended Six Months Ended (Dollars in Thousands) 12/31/2024 12/31/2025 6/30/2025 6/30/2026 6/30/2025 6/30/2026 Adjusted Non-Interest Expense from above $ 139,777 $ 194,953 $ 48,588 $ 50,382 $ 95,438 $ 102,750 Less: Intangible Amortization 2,032 10,148 2,803 2,362 4,873 4,833 Adjusted Non-Interest Expense excluding Intangible Amortization $ 137,745 $ 184,805 $ 45,785 $ 48,020 $ 90,565 $ 97,917 Net Interest Income $ 190,591 $ 294,132 $ 73,155 $ 81,208 $ 139,727 $ 160,059 Add: FTE Adjustment 5,494 5,437 1,270 1,390 2,589 2,739 Net Interest Income (FTE) $ 196,085 $ 299,569 $ 74,425 $ 82,598 $ 142,316 $ 162,798 Adjusted Non-Interest Income from above $ 54,691 $ 66,620 $ 16,733 $ 18,746 $ 31,573 $ 35,972 Adjusted Total Revenue $ 250,776 $ 366,189 $ 91,158 $ 101,344 $ 173,889 $ 198,770 Efficiency Ratio 49.2% 52.3% 51.3% 47.4% 56.0% 49.3% Adjusted Efficiency Ratio 54.9% 50.5% 50.2% 47.4% 52.1% 49.3% Non-GAAP Reconciliation – Net Interest Margin Year Ended Three Months Ended Six Months Ended (Dollars in Thousands) 12/31/2024 12/31/2025 6/30/2025 6/30/2026 6/30/2025 6/30/2026 Net Interest Income (FTE) from above $ 196,085 $ 299,569 $ 74,425 $ 82,598 $ 142,316 $ 162,798 Less: Accretion of Discount on Acquired Loans 1,507 15,556 3,483 3,235 7,675 6,691 Adjusted Net Interest Income (FTE) $ 194,578 $ 284,013 $ 70,942 $ 79,363 $ 134,641 $ 156,107 Average Earning Assets $ 5,722,010 $ 7,453,650 $ 7,605,113 $ 7,697,610 $ 7,265,693 $ 7,647,490 Net Interest Margin (FTE) 3.43% 4.02% 3.92% 4.30% 3.94% 4.28% Adjusted Net Interest Margin (FTE) 3.40% 3.81% 3.74% 4.13% 3.73% 4.11%
USE OF NON - GAAP FINANCIAL MEASURES 25 Non-GAAP Reconciliation – Return on Average Assets Year Ended Three Months Ended Six Months Ended (Dollars in Thousands) 12/31/2024 12/31/2025 6/30/2025 6/30/2026 6/30/2025 6/30/2026 Adjusted Net Income from above $ 83,839 $ 129,684 $ 32,058 $ 38,172 $ 59,345 $ 71,324 Average Assets $ 6,233,753 $ 8,237,194 $ 8,424,328 $ 8,481,845 $ 8,028,766 $ 8,431,568 Return on Average Assets, as reported 1.34% 1.37% 1.49% 1.80% 1.04% 1.69% Return on Average Assets, as adjusted 1.34% 1.57% 1.52% 1.80% 1.48% 1.69% Non-GAAP Reconciliation – Return on Average Tangible Common Equity Year Ended Three Months Ended Six Months Ended (Dollars in Thousands) 12/31/2024 12/31/2025 6/30/2025 6/30/2026 6/30/2025 6/30/2026 Adjusted Net Income from above $ 83,839 $ 129,684 $ 32,058 $ 38,172 $ 59,345 $ 71,324 Average Equity, as reported $ 685,862 $ 1,050,990 $ 1,048,227 $ 1,191,283 $ 990,129 $ 1,187,807 Average Intangibles, as reported 184,664 395,603 417,016 405,463 378,011 406,694 Average Tangible Common Equity $ 501,198 $ 655,387 $ 631,211 $ 785,820 $ 612,118 $ 781,113 Return on Average Tangible Common Equity, as reported 16.72% 17.19% 19.87% 19.43% 13.68% 18.26% Return on Average Tangible Common Equity, as adjusted 16.73% 19.79% 20.32% 19.43% 19.39% 18.26%
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v3.26.1
Cover page
Sep. 08, 2026
Cover [Abstract]
Document Type
8-K
Document Period End Date
Sep. 08, 2026
Entity Registrant Name
GERMAN AMERICAN BANCORP, INC.
Entity Incorporation, State or Country Code
IN
Entity File Number
001-15877
Entity Tax Identification Number
35-1547518
Entity Address, Address Line One
711 Main Street
Entity Address, City or Town
Jasper,
Entity Address, State or Province
IN
Entity Address, Postal Zip Code
47546
City Area Code
812
Local Phone Number
482-1314
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Entity Emerging Growth Company
false
Title of 12(b) Security
Common Stock, no par value
Trading Symbol
GABC
Security Exchange Name
NASDAQ
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false
Entity Central Index Key
0000714395
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