German American Completes Acquisition Of American Community And Bank Of Evansville And Appoints New Board Members And Advisory Directors
JASPER, Ind., Jan. 3, 2011 (GLOBE NEWSWIRE) -- German American Bancorp, Inc. (Nasdaq:GABC) announced today that it has completed its acquisition of American Community Bancorp, Inc., the parent company of Bank of Evansville, of Evansville, Indiana.
American Community merged into German American effective January 1, 2011, followed immediately by the merger of Bank of Evansville with and into German American's banking subsidiary.
Mark A. Schroeder, Chairman and CEO of German American, stated, "We are delighted to welcome Bank of Evansville's customers, employees and shareholders to German American. This combination of our two companies positions German American with a total of five strategic offices located throughout the Evansville market and significantly increases our market share within the market."Each American Community common shareholder of record on January 1 became entitled to receive 0.725 shares of German American common stock for each of their former shares of American Community common stock, subject to his or her surrender of the old American Community certificates to the exchange agent designated by German American. Instructions and forms to accomplish that surrender and exchange process are being mailed by the exchange agent to each of American Community's shareholders of record as of the Effective Time. In connection with the completion of the merger, German American added two members of American Community's board of directors to German American's board of directors and added six more of American Community's directors to the Evansville Region Advisory Board of German American. Added to German American's board were Marc D. Fine and Chris A. Ramsey. Mr. Fine, who was a founding director of American Community, has practiced law in Evansville, Indiana since 1984, and is a founding member of the law firm of Rudolph, Fine, Porter & Johnson, LLP, in Evansville. Marc is active in many civic and community organizations in Evansville.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV