Southern Indiana Bank Announces Merger with Heartland BancCorp

German American Bancorp has announced it will merge with Ohio-based Heartland BancCorp.

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You don't have to drive too far in southwest Indiana to run across a German American Bank building. Growing up in Petersburg, Indiana, I often remember seeing the company's large bank building on Main Street with the flags waving in the wind out front. To me, it's become a staple along the stretch of wide road, and I don't think the city would look the same without it. Since I was a kid, the corporation has grown tremedously and has just announced yet another feat that will expand services into a neighboring state.

In 2022, German American merged with Citizens Union Bank. Since then, the bank reports they have grown into an approximately $6 billion dollar holding company serving individuals, families, organizations, and businesses in Indiana and Kentucky. German American Bank is headquartered in Jasper, Indiana, and operates 77 offices in 19 Indiana counties, along with 14 counties in Kentucky. Currently, the corporation has about 900 employees.

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Market Watch reported on July 29, 2024, that German American has entered into a merger agreement with Heartland BancCorp, which is based in Ohio. According to GlobeNewswire, Heartland operated 20 full-service banking offices and had approximately $1.9 billion of total assets. The combined organization will now have more than $8.1 billion in assets and a branch network of almost 95 rural, suburban, and urban locations across Indiana, Kentucky, and Ohio. The deal has already been approved by both entities and is expected to close in the first quarter of 2025.