Coming off the best quarter in its 101-year history, German American Bancorp in Jasper, Ind., appears to be readying itself for expansion.
The $1.8 billion-asset company said Monday that it has filed a shelf registration with the Securities and Exchange Commission that, if approved, would allow it to raise up to $100 million of capital through various sales of preferred stock, warrants and debt securities. Specific prices and terms would be determined if and when the company decides to pursue the offerings, German American said in a news release.
In a statement, German American Chairman and Chief Executive Officer Mark A. Schroeder said that the registration, "will position our company to take advantage of future expansion and other potential opportunities for growth by giving us the ability to quickly raise capital when the need may arise."
Last week, German American reported record earnings of $4.9 million in the second quarter, up 43% from the same period a year earlier. The increase was aided largely by its January acquisition of the $340 million-asset Bank of Evansville in Indiana - its first acquisition in nearly five years.
Its earnings per share of 39 cents beat the estimates of analysts by a nickel, according to Thomson Reuters.
