As reported by Dubois County Free Press, BGD client, German American Bancorp, Inc. (NASDAQ: GABC) successfully completed its previously announced merger with River Valley Bancorp (NASDAQ: RVB) of Madison, Indiana, on March 1, 2016. German American Bancorp now has 51 banking offices in Indiana and Kentucky following the merger. The shareholders of Ameriana Bancorp received approximately $87 million in German American Bancorp stock and cash as part of the transaction.
The combination of the two leading companies is expected to expand German American’s footprint into the greater Madison market as well as the Indiana market according to the publication.
“This opportunity to enhance our existing presence in two of German American’s newest markets, as well as allowing for a new market presence in Madison, Indiana, makes this merger a perfect fit for our company,” said Mark A. Schroeder, Chairman and CEO of German American. “We are pleased the merger received the overwhelming approval of the River Valley shareholders and are delighted to welcome River Valley’s customers, employees and shareholders to German American.”
“This combination of our two companies positions German American to enhance our previously stated objective of expanding our Southern Indiana footprint into the vibrant Southeast Indiana market area. River Valley has built a solid community banking franchise in three distinct markets in which German American can provide our extensive offerings of banking, insurance, and investment products and services to River Valley’s current and prospective clients,” Schroeder said.
BGD partner and Banking and Financial Institutions Team Leader Jeremy Hill, partner Tonya Vachirasomboon and attorney Bradley C. Arnett lead the transaction, with assistance from partners Mary G. Eaves, Andy Bowman, Andrew Gruber and Ross D. Cohen on certain specialized matters. Firm partners William J. Kaiser Jr., Eric J. Schue and attorney David T. McGimpsey also provided strong local support on the transaction from the Jasper office.