German American Bancorp Inc. of Jasper, Ind., said fourth-quarter earnings were flat from a year earlier, at $2.4 million.
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Diluted earnings per share were also flat, at 22 cents a share, the $1.1 billion-asset German American said Wednesday.
Full-year earnings rose 5%, to $10.2 million. Diluted earnings per share rose 4%, to 93 cents.
German American attributed the increase in full-year earnings to growth in earning assets, with $48 million coming from the January 2006 acquisition of Stone City Bancshares Inc. and $42 million from the December purchase of an agricultural loan portfolio.
The loan portfolio grew 23%, to $789 million at yearend.
