FORM 4	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549	OMB APPROVAL
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940	OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response. . .0.5 Filed By Romeo and Dye's Section 16 Filer www.section16.net

1. Name and Address of Reporting Person* RUHE STAN J	2. Issuer Name and Ticker or Trading Symbol GERMAN AMERICAN BANCORP GABC		6. Relationship of Reporting Person(s) to Issuer (Check all applicable)     Director                                       10% Owner X Officer (give title below)          Other (specify below) EXECUTIVE VICE PRESIDENT
(Last)      (First)     (Middle) 1117 UNIVERSITY DRIVE	3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary) ###-##-####	4. Statement for Month/Day/Year 2/15/03
(Street) JASPER, IN 47546		5. If Amendment, Date of Original (Month/Day/Year)	7. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person     Form filed by More than One Reporting Person
(City)     (State)     (Zip)	Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security (Instr. 3)	2. Trans- action Date (Month/ Day/ Year)	2A. Deemed Execution Date, if any (Month/Day/ Year)	3. Trans- action Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 & 5)			5. Amount of Securities Beneficially Owned Follow- ing Reported Transactions(s) (Instr. 3 & 4)	6. Owner- ship Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	2/15/03		F		3869	D	$18.86		D
Common Stock	2/15/03		M		1968	A	$12.5256		D
Common Stock	2/15/03		M		480	A	$13.1519		D
Common Stock	2/15/03		M		724	A	$15.3143		D
Common Stock	2/15/03		M		411	A	$15.3143		D
Common Stock	2/15/03		M		1608	A	$15.3143	12885.9476	D(1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number

FORM 4 (continued) Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conver- sion or Exercise Price of Derivative Security

3. Trans- action Date (Month/ Day/ Year)

3A. Deemed Execution Date, if any (Month/ Day/ Year)

4. Trans- action Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 & 5)

6. Date Exercisable and Expiration Date (Month/Day/ Year)

7. Title and Amount of Underlying Securities (Instr. 3 & 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Owner- ship Form of Deriv- ative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exer-cisable

Expira- tion Date

Title

Amount or Number of Shares

Employee Stock Option (Right to Buy)

$18.86

2/15/03

A

3900

(2)

2/15/08

Common Stock

3900

3900

D

Employee Stock Option (Right to Buy)

$18.86

2/15/03

A

2612

2/15/04

7/1/05

Common Stock

2612

2612

D

Employee Stock Option (Right to Buy)

$18.86

2/15/03

A

669

2/15/04

2/15/06

Common Stock

669

669

D

Employee Stock Option (Right to Buy)

$18.86

2/15/03

A

588

2/15/04

2/15/07

Common Stock

588

588

D

Employee Stock Option (Right to Buy)

$12.5256

2/15/03

M

1968

7/01/00

7/1/05

Common Stock

1968

5903

D

Employee Stock Option (Right to Buy)

$13.1519

2/15/03

M

480

2/15/01

2/15/06

Common Stock

480

1438

D

Employee Stock Option (Right to Buy)

$15.3143

2/15/03

M

724

2/15/02

2/15/07

Common Stock

724

2898(3)

D

Employee Stock Option (Right to Buy)

$15.3143

2/15/03

M

411

2/15/02

2/15/06

Common Stock

411

0

D

Employee Stock Option (Right to Buy)

$15.3143

2/15/03

M

1608

2/15/02

7/01/05

Common Stock

1608

0

D

Explanation of Responses:

(1) Includes 2443.9476 Shares previously reported as Direct "Joint with Spouse"
(2) The option is exercisable in increments of the option granted on each of the first five anniversary dates of the Grant Date.
(3) Reflects adjustment for additional shares issued pursuant to a five percent stock dividend program. The exercise price is adjusted also in connection with the five percent stock dividends.

By: /s/ Stan J Ruhe
              
**Signature of Reporting Person 2/19/03
Date

**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed.
          If space is insufficient, See Instruction 6 for procedure.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.