Jack Sheidler, a director at German American Bancorp, Inc. (NASDAQ:GABC), recently acquired shares of the company through a transaction dated December 15, 2024. According to a Form 4 filing with the Securities and Exchange Commission, Sheidler purchased a total of 38.3040 shares of common stock at a price of $44.38 per share, amounting to approximately $1,699. The $1.3 billion market cap bank has demonstrated strong shareholder returns, with the stock up over 41% year-to-date and offering a 2.43% dividend yield.
The purchase was made as part of the company's Dividend Reinvestment and Stock Purchase Plan, which allows participants to use a portion of their compensation to acquire additional shares. Following this transaction, Sheidler's total direct ownership of German American Bancorp stands at 63,727.4717 shares.
This acquisition highlights Sheidler's continued investment in the company, which operates as a state commercial bank based in Jasper, Indiana.
In other recent news, German American Bancorp's shareholders have approved a proposed merger with Heartland BancCorp (OTC:HLAN), as revealed in a recent 8-K filing with the U.S. Securities and Exchange Commission. The voting results showed a significant majority in favor of the merger, with 19,776,519 votes for and only 179,254 against. This merger, subject to regulatory approvals and standard closing conditions, is projected to be completed in the first quarter of 2025. The merger is expected to broaden German American Bancorp's reach and customer base. Specifics about the merger's impact on the market position and future prospects of the combined entity will be determined upon the completion of the deal. As part of the merger agreement, German American Bancorp will issue common stock to Heartland BancCorp's shareholders. These recent developments continue to shape the future direction of German American Bancorp.
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