German American Completes Acquisition of Five Branches

AREA-WIDE -- German American Bank has announced its completed the acquisition of five bank branches from First Financial Bank in Columbus and Greensburg.

The transfer of around $175 million in deposits and $120 million in loans was finalized at the close of business Friday.

German American has a six-month “put-options” on the loans purchased, where the company can require First Financial to repurchase certain loans within six months following the close of the transaction.

CEO Mark Schroeder says German American is extremely pleased to welcome Columbus and Greensburg customers to the bank.He added those five bank branches began operating under the German American umbrella on Saturday, a day after the deal was finalized.