The $5.2 billion-asset company disclosed
in a regulatory filing Friday that it will also sell $30.3 million of deposits
and $8.9 million of loans to Home Savings and Loan Co. in Kenton, Ohio.
The sale is expected to close in the second half
of this year. German American did not disclose the price Home Savings will pay.
German American said the sales are tied to its
operating optimization plan. The company announced in mid-March that it would
close seven branches and cut some jobs this year in moves that are expected to save
it $3.7 million annually.
The company said it does not expect the sales will
result in material gains or charges.
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