German American Bancorp, Inc. Reports Record 2012 Earnings & Announces Increase In Quarterly Cash Dividend

Other operating income increased $503,000 or 35% during 2012 compared with 2011. The increase was primarily related to a net gain on sales of other real estate during 2012 compared with a net loss on sales and write-downs of other real estate during 2011.

Net gains on sales of loans increased $853,000, or 36%, during 2012 compared with the same period of 2011. Loan sales totaled $186.8 million during 2012 compared with $134.2 million during 2011. The net gain on securities declined $1,357,000, or 45%, during 2012 compared with 2011. During 2012, the Company realized net gains on the sale of securities of $1,667,000 related to the sale of approximately $94.3 million of securities. During 2011, the Company realized net gains on securities of $3,024,000 related to the sale of approximately $59.3 million of securities in the fourth quarter of 2011 and a gain of $1,045,000 during the first quarter of 2011 related to the acquisition accounting treatment of the existing equity ownership position the Company held in American Community at the time of acquisition.

During the year ended December 31, 2012, non-interest expense remained very stable compared with the year ended December 31, 2011, increasing by less than 1%.

Non-interest Expense	Year Ended 12/31/12	Year Ended 12/31/11
(dollars in thousands)
Salaries and Employee Benefits	$ 29,086	$ 27,992
Occupancy, Furniture and Equipment Expense	7,064	7,198
FDIC Premiums	1,116	1,473
Data Processing Fees	1,071	2,092
Professional Fees	2,247	2,056
Advertising and Promotion	1,714	1,525
Intangible Amortization	1,655	1,956
Other Operating Expenses	6,970	6,490
Total Non-interest Expense	$ 50,923	$ 50,782

Salaries and employee benefits increased $1,094,000 or 4% during 2012 compared with 2011. The increase in salaries and benefits during 2012 compared with 2011 was primarily the result of an increased number of full-time equivalent employees, increased costs related to the Company's partially self-insured health insurance plan and increased commission payout related to higher levels of mortgage loan sales revenues in the secondary market and increased insurance revenues. During 2011, approximately $875,000 of merger-related salary and benefit costs were incurred related to the acquisition of American Community Bancorp, Inc. which partially mitigated the increases in salaries and benefits during 2012.

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