Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | GERMAN AMERICAN BANCORP, INC. |
Entity Central Index Key | 0000714395 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance Pay Versus Performance Table Year Summary (1) ($) Compensation (2) ($) Average (1) ($) Average (2) ($) Value of initial fixed Net income (5) ($ Millions) 3-Year (6) Total (3) ($) Peer group (4) ($) (a) (b) (c) (d) (e) (f) (g) (h) (i) 2022 1,374,051 1,196,188 689,558 629,669 112.33 110.78 $ 81,825 13 % 2021 1,626,579 1,518,365 801,437 732,650 114.58 129.96 $ 84,137 18 % 2020 1,370,874 1,122,181 626,800 531,450 95.22 92.90 $ 62,210 10 % (1) Amounts represent “Summary Compensation Table” totals for our principal executive officers, or PEOs, and the average “Summary Compensation Table” totals for our remaining NEOs for the relevant fiscal year, which includes the individuals indicated in the table below for each fiscal year: Year PEO Non-PEO NEOS 2022 D. Neil Dauby Bradley M. Rust, Randall L. Braun, Keith A. Leinenbach, Amy D. Jackson and Clay M. Barrett 2021 Mark A. Schroeder D. Neil Dauby, Bradley M. Rust, Randall L. Braun and Keith A. Leinenbach 2020 Mark A. Schroeder D. Neil Dauby, Clay W. Ewing, Bradley M. Rust, Randall L. Braun and Keith A. Leinenbach (2) Amounts represent compensation actually paid to our PEOs and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table in footnote (1) above. The table below provides the adjustments to the Summary Compensation Table (“SCT”) total compensation made to arrive at the compensation actually paid for the PEO and the average for Non-PEO NEOs: Fiscal Year (“FY”) 2022 FY 2021 FY 2020 Description PEO Average for PEO Average for PEO Average for Deduct the amounts reported in the SCT (403,122 ) (168,145 ) (421,906 ) (187,585 ) (358,801 ) (141,882 ) Add the fair value (“FV”) as of the end of the applicable FY of all awards granted during such FY that are outstanding and unvested as of the end of the FY 227,679 106,946 286,776 105,899 116,742 46,736 Add/Deduct the change as of the end of (3,367 ) (1,908 ) 10,390 3,725 (1,796 ) (744 ) Add , for awards that are granted and — — — — — — Add/Deduct the change as of the vesting 947 557 16,526 5,979 (4,838 ) (1,994 ) Subtract , for any awards granted in any prior FY that fail to meet the applicable vesting conditions during the applicable FY, the amount equal to the FV at the end of the prior FY — — — — — — Fiscal Year (“FY”) 2022 FY 2021 FY 2020 Description PEO Average for PEO Average for PEO Average for Add any dividends or other earnings — — — — — — Deduct aggregate change in the Actuarial — 2,660 — 3,195 — 2,532 Add , for all pension plans reported in the — — — — — — Total (177,863 ) (59,889 ) (108,214 ) (68,786 ) (248,693 ) (95,351 ) (3) For the relevant fiscal year, represents the cumulative total shareholder return (“TSR”) of German American Bancorp, Inc. for the measurement periods ending on December 31 of each of 2022, 2021 and 2020, respectively. (4) For the relevant fiscal year, represents the cumulative TSR of the S&P Regional Banks Select Industry Index (“Peer Group TSR”) for the measurement periods ending on December 31 of each of 2022, 2021 and 2020, respectively. (5) Reflects “Net Income” in the company’s Consolidated Income Statements included in the Company’s Annual Reports on Form 10-K for each of the years ended December 31, 2022, 2021 and 2020. (6) The Company-Selected Measure is 3-Year Average Growth in Adjusted Earnings per Share. This measure is the average of the Company’s annual growth in adjusted EPS for each year in the 3-year period ending with the listed fiscal year. Adjusted EPS is a non-GAAP measure. For 2022, the Company’s annual GAAP net income (which is the basis for EPS) was adjusted to eliminate the after-tax impact of certain non-recurring expenses resulting from its merger with CUB, which the Company and its Board of Directors consider as being unrepresentative of the Company’s core operating performance including. | ||
Company Selected Measure Name | 3-Year Average Growth in Adjusted Earnings per Share | ||
Named Executive Officers, Footnote [Text Block] | (1) Amounts represent “Summary Compensation Table” totals for our principal executive officers, or PEOs, and the average “Summary Compensation Table” totals for our remaining NEOs for the relevant fiscal year, which includes the individuals indicated in the table below for each fiscal year: Year PEO Non-PEO NEOS 2022 D. Neil Dauby Bradley M. Rust, Randall L. Braun, Keith A. Leinenbach, Amy D. Jackson and Clay M. Barrett 2021 Mark A. Schroeder D. Neil Dauby, Bradley M. Rust, Randall L. Braun and Keith A. Leinenbach 2020 Mark A. Schroeder D. Neil Dauby, Clay W. Ewing, Bradley M. Rust, Randall L. Braun and Keith A. Leinenbach | ||
Peer Group Issuers, Footnote [Text Block] | (3) For the relevant fiscal year, represents the cumulative total shareholder return (“TSR”) of German American Bancorp, Inc. for the measurement periods ending on December 31 of each of 2022, 2021 and 2020, respectively. (4) For the relevant fiscal year, represents the cumulative TSR of the S&P Regional Banks Select Industry Index (“Peer Group TSR”) for the measurement periods ending on December 31 of each of 2022, 2021 and 2020, respectively. | ||
PEO Total Compensation Amount | $ 1,374,051 | $ 1,626,579 | $ 1,370,874 |
PEO Actually Paid Compensation Amount | $ 1,196,188 | 1,518,365 | 1,122,181 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) Amounts represent compensation actually paid to our PEOs and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table in footnote (1) above. The table below provides the adjustments to the Summary Compensation Table (“SCT”) total compensation made to arrive at the compensation actually paid for the PEO and the average for Non-PEO NEOs: Fiscal Year (“FY”) 2022 FY 2021 FY 2020 Description PEO Average for PEO Average for PEO Average for Deduct the amounts reported in the SCT (403,122 ) (168,145 ) (421,906 ) (187,585 ) (358,801 ) (141,882 ) Add the fair value (“FV”) as of the end of the applicable FY of all awards granted during such FY that are outstanding and unvested as of the end of the FY 227,679 106,946 286,776 105,899 116,742 46,736 Add/Deduct the change as of the end of (3,367 ) (1,908 ) 10,390 3,725 (1,796 ) (744 ) Add , for awards that are granted and — — — — — — Add/Deduct the change as of the vesting 947 557 16,526 5,979 (4,838 ) (1,994 ) Subtract , for any awards granted in any prior FY that fail to meet the applicable vesting conditions during the applicable FY, the amount equal to the FV at the end of the prior FY — — — — — — Fiscal Year (“FY”) 2022 FY 2021 FY 2020 Description PEO Average for PEO Average for PEO Average for Add any dividends or other earnings — — — — — — Deduct aggregate change in the Actuarial — 2,660 — 3,195 — 2,532 Add , for all pension plans reported in the — — — — — — Total (177,863 ) (59,889 ) (108,214 ) (68,786 ) (248,693 ) (95,351 ) | ||
Non-PEO NEO Average Total Compensation Amount | $ 689,558 | 801,437 | 626,800 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 629,669 | 732,650 | 531,450 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (2) Amounts represent compensation actually paid to our PEOs and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table in footnote (1) above. The table below provides the adjustments to the Summary Compensation Table (“SCT”) total compensation made to arrive at the compensation actually paid for the PEO and the average for Non-PEO NEOs: Fiscal Year (“FY”) 2022 FY 2021 FY 2020 Description PEO Average for PEO Average for PEO Average for Deduct the amounts reported in the SCT (403,122 ) (168,145 ) (421,906 ) (187,585 ) (358,801 ) (141,882 ) Add the fair value (“FV”) as of the end of the applicable FY of all awards granted during such FY that are outstanding and unvested as of the end of the FY 227,679 106,946 286,776 105,899 116,742 46,736 Add/Deduct the change as of the end of (3,367 ) (1,908 ) 10,390 3,725 (1,796 ) (744 ) Add , for awards that are granted and — — — — — — Add/Deduct the change as of the vesting 947 557 16,526 5,979 (4,838 ) (1,994 ) Subtract , for any awards granted in any prior FY that fail to meet the applicable vesting conditions during the applicable FY, the amount equal to the FV at the end of the prior FY — — — — — — Fiscal Year (“FY”) 2022 FY 2021 FY 2020 Description PEO Average for PEO Average for PEO Average for Add any dividends or other earnings — — — — — — Deduct aggregate change in the Actuarial — 2,660 — 3,195 — 2,532 Add , for all pension plans reported in the — — — — — — Total (177,863 ) (59,889 ) (108,214 ) (68,786 ) (248,693 ) (95,351 ) | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Relationship Between PEO and Non-PEO NEOs Compensation Actually Paid and Company Total Shareholder Return (“TSR”) The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our other NEOs, and the Company’s cumulative TSR over the three most recently completed fiscal years. | ||
Compensation Actually Paid vs. Net Income [Text Block] | Relationship Between PEO and Non-PEO NEOs Compensation Actually Paid and Net Income The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our other NEOs, and our net income during the three most recently completed fiscal years. | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Relationship Between PEO and Non-PEO NEOs Compensation Actually Paid and 3-Year Average Growth in Adjusted Earnings per Share The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our other NEOs, and our 3-Year Average Growth in Adjusted Earnings per Share during each of the three most recently completed fiscal years. | ||
Total Shareholder Return Vs Peer Group [Text Block] | Relationship Between Company TSR and Peer Group TSR The following chart compares our cumulative TSR over the three most recently completed fiscal years to that of the S&P Regional Banks Select Industry Index over the same period. | ||
Tabular List [Table Text Block] | Tabular List of Important Financial Measures The most important financial performance measures used by the Company in 2022 to set the compensation for its principal executive officer, or PEO (i.e., our President and Chief Executive Officer), and all of its non-PEO Named Executive Officers are listed below: • 3-Year Average Growth in Adjusted Earnings per Share. • 3-Year Average Adjusted Return on Average Equity. • 3-Year Average Adjusted Return on Average Assets. • Net Income. | ||
Total Shareholder Return Amount | $ 112.33 | 114.58 | 95.22 |
Peer Group Total Shareholder Return Amount | 110.78 | 129.96 | 92.9 |
Net Income (Loss) | $ 81,825,000,000 | $ 84,137,000,000 | $ 62,210,000,000 |
Company Selected Measure Amount | 13 | 18 | 10 |
PEO Name | D. Neil Dauby | Mark A. Schroeder | Mark A. Schroeder |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | 3-Year Average Growth in Adjusted Earnings per Share | ||
Non-GAAP Measure Description [Text Block] | (6) The Company-Selected Measure is 3-Year Average Growth in Adjusted Earnings per Share. This measure is the average of the Company’s annual growth in adjusted EPS for each year in the 3-year period ending with the listed fiscal year. Adjusted EPS is a non-GAAP measure. For 2022, the Company’s annual GAAP net income (which is the basis for EPS) was adjusted to eliminate the after-tax impact of certain non-recurring expenses resulting from its merger with CUB, which the Company and its Board of Directors consider as being unrepresentative of the Company’s core operating performance including. | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | 3-Year Average Adjusted Return on Average Equity. | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | 3-Year Average Adjusted Return on Average Assets | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Income | ||
D. Neil Dauby [Member] | Stock Awards & Stock Options [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (403,122) | ||
D. Neil Dauby [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted As Of The End Of The FY [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 227,679 | ||
D. Neil Dauby [Member] | Total Equity Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (177,863) | ||
D. Neil Dauby [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (3,367) | ||
D. Neil Dauby [Member] | Change As Of The Vesting Date In Fair Value Of Awards Granted In Any Prior Fiscal Year For Which Vesting Conditions Were Satisfied During Such Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 947 | ||
Mark A. Schroeder [Member] | Stock Awards & Stock Options [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (421,906) | $ (358,801) | |
Mark A. Schroeder [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted As Of The End Of The FY [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 286,776 | 116,742 | |
Mark A. Schroeder [Member] | Total Equity Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (108,214) | (248,693) | |
Mark A. Schroeder [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 10,390 | (1,796) | |
Mark A. Schroeder [Member] | Change As Of The Vesting Date In Fair Value Of Awards Granted In Any Prior Fiscal Year For Which Vesting Conditions Were Satisfied During Such Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 16,526 | (4,838) | |
Non-PEO NEO [Member] | Stock Awards & Stock Options [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (168,145) | (187,585) | (141,882) |
Non-PEO NEO [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted As Of The End Of The FY [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 106,946 | 105,899 | 46,736 |
Non-PEO NEO [Member] | Total Equity Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (59,889) | (68,786) | (95,351) |
Non-PEO NEO [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,908) | 3,725 | (744) |
Non-PEO NEO [Member] | Change As Of The Vesting Date In Fair Value Of Awards Granted In Any Prior Fiscal Year For Which Vesting Conditions Were Satisfied During Such Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 557 | 5,979 | (1,994) |
Non-PEO NEO [Member] | Change In Pension Value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (2,660) | $ (3,195) | $ (2,532) |