German American Bancorp’s earnings in 2010 were the best in the company’s history, the company reported Wednesday.
The Jasper, Ind.-based bank reported net income of $13.4 million ($1.21 per share) for the year, a 10 percent increase over 2009. Net income for the fourth quarter was $3.2 million (28 cents per share), down from $3.3 million (30 cents per share) during the same period a year earlier.
Earnings last year were driven by increases in both net interest income and noninterest income, the bank said.
“We are truly gratified that, in this our company’s 100th anniversary year, we have been able to achieve this all-time record level of performance. In fact, the past three years have been the best three-year period in our history,” Chairman and Chief Executive Officer Mark Schroeder said in a statement.
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