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Segment Information
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s operations include three primary segments: core banking, wealth management services, and insurance operations. The core banking segment involves attracting deposits from the general public and using such funds to originate consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, primarily in the Company’s local markets. The core banking segment also involves the sale of residential mortgage loans in the secondary market. The wealth management segment involves providing trust, investment advisory, brokerage and retirement planning services to customers. The insurance segment offers a full range of personal and corporate property and casualty insurance products, primarily in the Company’s banking subsidiary’s local markets.
 
The core banking segment is comprised by the Company’s banking subsidiary, German American Bank, which operated through 77 banking offices at December 31, 2022. Net interest income from loans and investments funded by deposits and borrowings is the primary revenue for the core-banking segment. The wealth management segment’s revenues are comprised primarily of fees generated by the trust operations of the Company's banking subsidiary and by German American Investment Services, Inc. These fees are derived by providing trust, investment advisory, brokerage and retirement planning services to its customers. The insurance segment primarily consists of German American Insurance, Inc., which provides a full line of personal and corporate insurance products. Commissions derived from the sale of insurance products are the primary source of revenue for the insurance segment.

The following segment financial information has been derived from the internal financial statements of the Company which are used by management to monitor and manage financial performance. The accounting policies of the three segments are the same as those of the Company. The evaluation process for segments does not include holding company income and expense. Holding
company amounts are the primary differences between segment amounts and consolidated totals, and are reflected in the column labeled “Other” below, along with amounts to eliminate transactions between segments.
Core
Banking
Wealth Management ServicesInsuranceOtherConsolidated
Totals
Year Ended December 31, 2022     
Net Interest Income$204,259 $46 $27 $(3,748)$200,584 
Net Gains on Sales of Loans3,818    3,818 
Net Gains on Securities589   (27)562 
Wealth Management Fees4 10,072   10,076 
Insurance Revenues31 12 9,977  10,020 
Noncash Items:
Provision for Credit Losses6,350    6,350 
Depreciation and Amortization9,571 41 48 456 10,116 
Income Tax Expense (Benefit)17,873 691 720 (1,933)17,351 
Segment Profit (Loss)82,965 2,157 2,281 (5,578)81,825 
Segment Assets at December 31, 20226,152,346 8,846 14,706 (19,907)6,155,991 

Core
Banking
Wealth Management ServicesInsuranceOtherConsolidated
Totals
Year Ended December 31, 2021     
Net Interest Income$163,395 $42 $11 $(2,618)$160,830 
Net Gains on Sales of Loans8,267 — — — 8,267 
Net Gains on Securities2,247 — — — 2,247 
Wealth Management Fees10,317 — — 10,321 
Insurance Revenues14 9,247 — 9,268 
Noncash Items:
Provision for Credit Losses(6,500)— — — (6,500)
Depreciation and Amortization8,346 46 57 321 8,770 
Income Tax Expense (Benefit)18,774 826 652 (1,604)18,648 
Segment Profit (Loss)82,066 2,543 2,034 (2,506)84,137 
Segment Assets at December 31, 20215,595,721 6,115 12,245 (5,542)5,608,539 

Core
Banking
Wealth Management ServicesInsuranceOtherConsolidated
Totals
Year Ended December 31, 2020     
Net Interest Income$157,936 $18 $11 $(2,722)$155,243 
Net Gains on Sales of Loans9,908 — — — 9,908 
Net Gains on Securities4,081 — — — 4,081 
Wealth Management Fees8,002 — — 8,005 
Insurance Revenues12 15 8,895 — 8,922 
Noncash Items:
Provision for Credit Losses17,550 — — — 17,550 
Depreciation and Amortization9,012 28 68 321 9,429 
Income Tax Expense (Benefit)13,758 452 536 (1,912)12,834 
Segment Profit (Loss)60,812 1,355 1,655 (1,612)62,210 
Segment Assets at December 31, 20204,963,655 4,480 10,263 (821)4,977,577