GAB Announces New Multi-Million Dollar Operations Center In Jasper (AUDIO)

Jasper (NNDC) – German American Bank has announced plans to build a new $6 million operations center in Jasper.

Neil Dauby, GAB’s Chief Commercial Banking Officer, says the local bank is in the process of acquiring 7.5 acres of land on Jasper’s far south side for the new 40,000 sq. ft. center that will employ an estimated 150 employees.   100 of those employees will move from the bank’s current operations center on North Main Street and from other back office operations locations in the city including the bank’s main office which is also on North Main Street.

GAB OPERATIONS CTR

Architect Rendering Provided By German American Bank

Friday morning, Dauby and other German American officials met with the Jasper Economic Development Commission to formally apply for a property tax abatement the new operations center that will be built on land on West 12th Avenue between the headquarters of Kimball Electronics and the Jasper Youth Sports Complex.

Dauby says GAB now houses more than $3 billion in assets.  He says German American has successfully grown despite federal regulations brought on by the 2008 recession; including the half-billion dollars in assets it acquired in the merger with Madison, Indiana-based River Valley Bancorp in 2015.

Dauby says the secret to German American’s success has always been, and will continue to be its mission of being a local, community bank which is why the new operations center will be built in Jasper.

Dauby says the bank’s home office which houses its executive staff will remain at its current location at 7th and Main streets in downtown Jasper.

He says construction of the new operations center could begin as early as this fall and be opened in the Spring of 2018.

 

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