German American Bancorp agrees to buy 2 banking offices in southern Indiana

German American Bancorp to buy 2 Ind. bank offices

JASPER, Ind. — German American Bancorp Inc. said its banking unit is buying two Farmers State Bank offices in Evansville, Ind., to expand its presence in the southern Indiana market.

Terms of the acquisition weren’t disclosed. The deal is expected to close in 60 to 90 days.

German American, a financial services holding company for banks based in southern Indiana, said it expects the acquisition to contribute to its earnings within six months after closing.

The company said the purchase of the bank offices provides entry into the growing Evansville and Newburgh markets. German American will now operate 30 banking offices in 12 southern Indiana counties.

German American Bancorp shares fell 3 cents to $14.79 in midday trading.