Local Entities Release Strong Earnings Reports

Jasper (NNDC) – Three companies, Kimball International, German American Bancorp and Old National Bancorp are reporting increased earnings for the first quarter of 2017.

All three are publically traded; two are based in Jasper (Kimball and GAB).

Kimball International, Inc. (NASDAQ:KBAL) declared a quarterly dividend of 6 cents per share for all outstanding shares of common stock payable July 14, 2017, to share owners of record on June 23, 2017.

Meanwhile, German American Bancorp, Inc. reported strong first quarter 2017 earnings, posting a net income of $9.6 million, or $0.42 per share.

GAB Chairman and CEO Mark Schroeder says, “We’re pleased that our strong financial performance continued during the first quarter of 2017. One of the positive factors during the first quarter was the expansion of our net interest margin. Having operated in a historically low level of general market interest rates during most of the past decade, it is very encouraging to see this indication that recent upward movements in market interest rates had a positive impact on our margins.”

Also, Old National Bancorp, which has a regional office in Jasper, is reporting 1st quarter 2017 net income of $36.0 million, or $0.27 per diluted share.

Old National Chairman and CEO Bob Jones says, “With a 33% year-over-year increase in net income, strong commercial loan growth and well-controlled expenses, this was a strong 1st quarter for Old National and our stakeholders.  This performance demonstrates our continued focus on execution and our commitment to driving shareholder value.”

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