Add-on Acquisition • Financial Services

German American Bank Acquires 1ST Bancorp IN

On December 31, 1998, German American Bank acquired financial services company 1ST Bancorp IN for 57M USD

Acquisition Context
  • This is German American Bank’s 6th transaction in the Financial Services sector.
  • This is German American Bank’s 4th largest (disclosed) transaction.
  • This is German American Bank’s 7th transaction in the United States.
  • This is German American Bank’s 6th transaction in Indiana.

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M&A Deal Summary

Date December 31, 1998
Target 1ST Bancorp IN
Sector Financial Services
Buyer(s) German American Bank
Deal Type Add-on Acquisition
Deal Value 57M USD
Advisor(s) BKD (Financial)
Barnes & Thornburg (Legal)

Target Company

1ST Bancorp IN

Vincennes,, Indiana, United States
1ST Bancorp, IN operated full service insurance offices and provided title search services, and mortgage loan closing services and underwriting services for mortgage title insurance.
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Buyer Overview 1

Buyer

German American Bank

Jasper, Indiana, United States

Category Company
Founded 1910
Sector Financial Services
Employees1,020
Revenue 215M USD (2024)
DESCRIPTION

German American Bank is a financial service provider specializes in banking, insurance, and investments for business and retail customers. German American Bank was founded in 1910 and is based in Jasper, Indiana.


Deal Context for Buyer #
Overall 7 of 21
Sector: Financial Services 6 of 15
Type: Add-on Acquisition 7 of 17
State: Indiana 6 of 15
Country: United States 7 of 21
Year: 1998 4 of 4
Size (of disclosed) 4 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-11-09 Doty Agency Inc

United States

Doty Agency, Inc is an Insurance Broker Company provides insurance and commercial products.

Buy $2M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-03 Professional Insurance Markets

United States

Professional Insurance Markets Inc. provides personal and commercial insurance products.

Buy $200K