Press Release

German American Announces Appointments to Its Board of Directors

Company Release - 10/4/2019 9:30 AM ET

JASPER, Ind., Oct. 04, 2019 (GLOBE NEWSWIRE) -- German American Bancorp, Inc. (NASDAQ:GABC) announced the appointment of Christine M.Ryan, Jack W. Sheidler and Tyson J. Wagler, CPA, to its Board of Directors.  They have also been appointed to the Asset Liability Finance Committee of the Board of Directors, and to the board of directors of the Company’s bank subsidiary, German American Bank.  Mr. Wagler was also appointed to the Company’s Audit Committee.

Mrs. Ryan is the Chief Executive Officer and Chief Nursing Officer of The Women’s Hospital in Newburgh, Indiana, which is part of the Deaconess Health System, and Administrator for Deaconess Health System Pediatric Product Line.  She received her Masters in Public Affairs/ Health Administration at Indiana University and her Undergraduate Degree in Nursing from Elmhurst College, where she was also awarded an honorary Doctor of Science.  Under her tenure, the Women’s Hospital has been the recipient of the JD Power and Associates award for Inpatient Service Excellence for three years in a row and for ten consecutive years has been recognized for Best Places to Work from Modern Healthcare.  Mrs. Ryan also serves on the Board of Trustees of the University of Southern Indiana in Evansville, Indiana, and has prior banking experience having previously served on German American’s advisory board for its Southwest Region, consisting of Vanderburgh and Warrick County, Indiana.

Mr. Sheidler, the former Chairman of the Board of Citizens First Bank, Inc. of Bowling Green, Kentucky, attended Huntington University, and has been an active real estate investor/developer for over 30 years.  He is the CEO and principal of various real estate development and investment companies, based in Bowling Green, Kentucky, where  Mr. Sheidler and his family have resided for the past 36 years.  His companies primarily focus on multi-family, retail, and office acquisition or development throughout the Southeast.   New construction and re-development of assets for long term holding periods are the objective of his companies.

Mr. Wagler is a partner in Frette & Wagler LLC, a Washington, Indiana-based CPA firm, which offers a wide range of tax and accounting services for individuals and a variety of businesses.  He has sixteen years of experience in the accounting profession, holds a Bachelor’s Degree in Accounting from the University of Southern Indiana, and is a member of the American Institute of Certified Public Accountants and the Indiana Certified Public Accountant Society.  Mr. Wagler serves on the board of the Daviess County Community Hospital and has prior banking experience having previously served on German American’s advisory board for its West Region, consisting of the Indiana counties of Daviess, Knox, Martin, Pike and Gibson.

U. Butch Klem, Chair of the Governance/Nominating Committee of the German American Board of Directors, commenting on the appointments stated, “We’re extremely pleased to announce these new appointments to our Board.  As part of our ongoing board succession planning process, we are expanding our board to ensure the seamless continuity of board oversight in preparation of anticipated board retirements over the course of the next several years.  We’re very fortunate to have attracted individuals of the caliber and experience of Chris, Jack and Tyson to serve as part of the next generation of our Board.  As we have previously stated, we strive to appoint independent, outside board members, like Chris, Jack and Tyson, who operate successful businesses within our market area and who are exceedingly knowledgeable about and well-connected within their industry and their local communities.  We welcome them to the Corporate Board of Directors and are excited about the counsel they will provide in our Board’s ongoing efforts to maximize long-term shareholder value.”

ABOUT GERMAN AMERICAN

German American Bancorp, Inc. is a NASDAQ-traded (symbol: GABC) $4.4 billion financial holding company headquartered in Jasper, Indiana. German American, through its banking subsidiary German American Bank, operates 75 banking offices in 20 contiguous southern Indiana counties, six counties in Kentucky and one county in Tennessee.  The Company also owns an investment brokerage subsidiary (German American Investment Services, Inc.) and a full line property and casualty insurance agency (German American Insurance, Inc.).

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this press release may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Readers are cautioned that, by their nature, forward-looking statements are based on assumptions and are subject to risks, uncertainties, and other factors. Actual results and experience could differ materially from the anticipated results or other expectations expressed or implied by these forward-looking statements as a result of a number of factors, including but not limited to, those discussed in this press release. Factors that could cause actual experience to differ from the expectations expressed or implied in this press release include the unknown future direction of interest rates and the timing and magnitude of any changes in interest rates; changes in competitive conditions; the introduction, withdrawal, success and timing of asset/liability management strategies or of mergers and acquisitions and other business initiatives and strategies; changes in customer borrowing, repayment, investment and deposit practices; changes in fiscal, monetary and tax policies; changes in financial and capital markets; potential deterioration in general economic conditions, either nationally or locally, resulting in, among other things, credit quality deterioration; capital management activities, including possible future sales of new securities, or possible repurchases or redemptions by the Company of outstanding debt or equity securities; risks of expansion through acquisitions and mergers, such as unexpected credit quality problems of the acquired loans or other assets, unexpected attrition of the customer base of the acquired institution or branches, and difficulties in integration of the acquired operations; factors driving impairment charges on investments; the impact, extent and timing of technological changes; potential cyber-attacks, information security breaches and other criminal activities; litigation liabilities, including related costs, expenses, settlements and judgments, or the outcome of matters before regulatory agencies, whether pending or commencing in the future; actions of the Federal Reserve Board; changes in accounting principles and interpretations; potential increases of federal deposit insurance premium expense, and possible future special assessments of FDIC premiums, either industry wide or specific to the Company’s banking subsidiary; actions of the regulatory authorities under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") and the Federal Deposit Insurance Act and other possible legislative and regulatory actions and reforms; impacts resulting from possible amendments or revisions to the Dodd-Frank Act and the regulations promulgated thereunder, or to Consumer Financial Protection Bureau rules and regulations; the continued availability of earnings and excess capital sufficient for the lawful and prudent declaration and payment of cash dividends; and other risk factors expressly identified in the Company’s filings with the United States Securities and Exchange Commission. Such statements reflect our views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements. It is intended that these forward-looking statements speak only as of the date they are made. We do not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.

For additional information, contact:
Mark A Schroeder, Chief Executive Officer of German American Bancorp, Inc.
Bradley M Rust, Executive Vice President/CFO of German American Bancorp, Inc.
(812) 482-1314

Source: German American Bancorp, Inc.