German American Bank Announces Staff Changes

Jasper (NNDC):


Jasper, Indiana: July 1, 2020 — German American Bancorp, Inc. (NASDAQ: GABC) has
announced several pending changes to its executive management group as part of an ongoing
management succession plan. The Company’s Board of Directors, at its recent annual
reorganization meeting, approved the following promotions effective as of January 1, 2021: Clay
W. Ewing will be assuming the newly created position of Vice Chairman, D. Neil Dauby will be
assuming the position of President & Chief Operating Officer and Bradley M. Rust will assume
the position of Senior Executive Vice President.
Mr. Ewing, who has been with German American for the past 26 years and has over 41 years of
banking industry experience, currently serves as the Company’s President & Chief Banking
Officer. Clay, who has served in various corporate positions since 1999, including chief banking
officer responsible for all areas of the Company’s banking line of business, will assume a senior
advisory capacity position in his new role as Vice Chairman in anticipation of his expected
retirement during the second quarter of 2021.
Mr. Dauby, who joined German American in 2001, having previously served in affiliate and
regional president roles with the Company, has overseen the Company’s commercial banking
operations since 2016 in his current position of Executive Vice President & Chief Commercial
Banking Officer. Prior to joining German American, Mr. Dauby, a graduate of Western Kentucky
University in Bowling Green, Kentucky, was a CPA with sixteen years of leadership experience
with regional accounting firms in various Kentucky markets, including Bowling Green and
Owensboro, which are part of German American’s footprint. As President & Chief Operating
Officer, Neil will assume direct operating responsibility for all facets of the Company, reporting
directly to Mark Schroeder, Chairman & CEO.
Mr. Rust joined German American in 1999 in connection with the Company’s merger with 1ST
Bancorp of Vincennes, Indiana. He has more than 30 years of banking experience, having
previously served as a federal bank examiner as well as in various capacities within the accounting
and finance functions for 1ST Bancorp and German American. Brad, who has been German
American’s Chief Financial Officer since 2005, currently serves as Executive Vice President &
CFO for the Company. In his expanded role as Senior Executive Vice President, Mr. Rust will
assume more extensive involvement in the executive oversight of the operations of the Company’s
business units, as well as continue in his present role as Chief Financial Officer with responsibility
for the Company’s accounting and finance functions, including mergers and acquisitions,
institutional research and shareholder relations.
Commenting on the Company’s announcement, Mark A. Schroeder, German American’s
Chairman & CEO, stated, “We are extremely fortunate to have had someone of Clay Ewing’s
caliber and expertise to lead our banking operations for more than twenty years. As we take this
initial step in our executive management succession plan, we’re extremely pleased that Clay will
be in place to help us transition his responsibilities to our next generation of leadership. We are
likewise extremely fortunate to have very experienced and talented financial professionals at
German American positioned to assume his various areas of responsibilities. Neil Dauby and Brad
Rust exemplify the depth of talent that exists within German American. They are both extremely
capable and seasoned leaders, and I am confident they will be exceptional in their expanded roles
within our Company.”
Schroeder continued, “As part of our plan for this transition, which will officially occur on January
1, 2021, there are expected to be additional realignment of roles and responsibilities of senior
officer positions within the Company. Just as is the case with Neil and Brad, German American is
fortunate to have a depth of experience and talent, throughout our organization, which will allow
us to make the necessary realignments utilizing existing team members’ capabilities and skills. As
an organization, we have been preparing and planning for the transition of executive management
for many years. It is because of the foresight of the Board of Directors and of existing Executive
Management that we are now able to effect this transition with the total confidence of knowing we
have the necessary level of capable and experienced internal talent, who extensively know both
our Company’s culture and operations, to assure a seamless transition to the next generation of
leadership throughout our organization.”
About German American
German American Bancorp, Inc. is a Nasdaq-traded (symbol: GABC) financial holding company
based in Jasper, Indiana. German American, through its banking subsidiary German American
Bank, operates 75 banking offices in 20 contiguous southern Indiana counties, eight counties in
Kentucky and one county in Tennessee. The Company also owns an investment brokerage
subsidiary (German American Investment Services, Inc.) and a full line property and casualty
insurance agency (German American Insurance, Inc.).