This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:German American Bancorp, Inc. (GABC) Reports Strong 3rd Quarter Earnings 2009-10-29 12:25 ET - News Release JASPER, Ind., Oct. 29, 2009 (GLOBE NEWSWIRE) -- German American Bancorp (Nasdaq:GABC) today reported another quarter of strong earnings, posting 3rd quarter net income of $3,191,000, or $0.29 per share. This represents the 3rd highest level of quarterly earnings in the Company's history, surpassed only by the quarterly earnings recorded in the 3rd and 4th quarters of 2008. 2009 year-to-date reported earnings were $8,897,000, or $0.81 per share.
The strong level of quarterly earnings was only slightly less than the record net income earned in the comparable quarter in 2008, in the face of a more difficult economic and operating environment in the current year. As compared to the Company's 3rd quarter 2008 earnings, current quarter 2009 earnings were $128,000, or 4%, less than the $3,319,000, or $0.30 per share, reported during the same quarter last year. The Company's current year 3rd quarter performance was enhanced by a $1.0 million improvement in net interest income, supported by an increase in the net interest margin to 4.02% as compared to 3.89% in the 3rd quarter of last year, coupled with a 6.5% increase in the Company's average earning assets. The Company also increased its loan loss reserve by approximately $500,000 during the third quarter of 2009.
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