8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549-1004

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

January 30, 2008

Date of Report (Date of earliest event reported)

GERMAN AMERICAN BANCORP, INC.

(Exact name of registrant as specified in its charter)

Indiana	0-11244	35-1547518
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)

711 Main Street
Box 810
Jasper, Indiana	47546
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (812) 482-1314

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On January 30, 2008, German American Bancorp, Inc. (the "Company" or "German American"), issued a press release announcing its results for the fiscal quarter and year ended December 31, 2007, and making other disclosures. The press release (including the accompanying unaudited consolidated financial statements as of and for the three and twelve months ended December 31, 2007, and other financial data) is furnished herewith as Exhibit 99 and is incorporated herein by reference.

The information incorporated by reference herein from Exhibit 99 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 8.01. Other Events.

As announced in the press release that is furnished as Exhibit 99 to this report, the Company's Board of Directors has declared a cash dividend of $0.14 per share which will be payable on February 20, 2008 to shareholders of record as of February 10, 2008.

Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits.

Exhibits

99 Press release issued by the Company on January 30, 2008. This exhibit shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GERMAN AMERICAN BANCORP, INC.
By:	/s/ Mark A. Schroeder
	Mark A. Schroeder, President and
	Chief Executive Officer

Dated: January 30, 2008

EXHIBIT INDEX

99 Press release issued by the Company on January 30, 2008. This exhibit shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

EX-99.1

GERMAN AMERICAN BANCORP, INC.

NEWS RELEASE

For additional information, contact:

Mark A Schroeder, President/CEO of German American Bancorp, Inc.

Bradley M Rust, Senior Vice President/CFO of German American Bancorp, Inc.

(812) 482-1314

January 30, 2008 GERMAN AMERICAN BANCORP, INC. REPORTS DOUBLE-DIGIT EARNINGS GROWTH AND RECORD QUARTERLY EARNINGS

German American Bancorp, Inc. today reported record 4th quarter 2007 net income of $2,775,000, or $0.25 per share, an increase of $337,000, or 13.8%, from the $2,438,000, or $0.22 per share reported in the 4^th quarter of 2006. This record level of quarterly earnings is a continuation of the strong performance fundamentals the Company has experienced for much of the past several years.

In comparison to the 4^th quarter of last year, the Company recorded strong performance in virtually every category of operations as net interest income increased by $702,000, or 7.5%, driven by year-over-year loan growth of 9.0%, while revenues from deposit fees and service charges and from the sale of trust and investment products increased by $358,000, or 24.8%. Additionally, non-interest expenses declined by $462,000, or 4.8%, primarily resulting from a reduction in salaries and benefits expense of $318,000, or 5.7%, during the 4^th quarter of 2007 relative to personnel expenses during the same quarter last year.

The record 4^th quarter earnings were achieved even considering the recording during that quarter of a $680,000 net loss on securities within the Company’s portfolio of non-controlling investments in other banking organizations as the result of the sale of one of the investment holdings and the recognition of an other-than-temporary impairment expense in connection with the valuation of other holdings within the portfolio.

For the year-ended December 31, 2007, the Company reported net income of $9,405,000 as compared to $10,221,000 reported in 2006. The decline was principally attributable to an increase in the Company’s provision for loan loss during the year, the majority of which was related to the previously reported resolution of a single non-performing credit during the first quarter of the year.

GERMAN AMERICAN BANCORP, INC.

NEWS RELEASE

For additional information, contact:

Mark A Schroeder, President/CEO of German American Bancorp, Inc.

Bradley M Rust, Senior Vice President/CFO of German American Bancorp, Inc.

(812) 482-1314

Commenting on the Company’s record earnings, strong loan and balance sheet growth, solid asset quality, and impressive cost control, Mark Schroeder, President & CEO of German American Bancorp, Inc., stated, “It is extremely gratifying that our efforts, over the course of the past several years, to prudently grow our balance sheet while maintaining our historic focus on asset quality and expense control has resulted in the achievement of the highest level of quarterly earnings in the history of our Company. Unlike much of the banking industry in the Midwest and throughout the United States, we are currently experiencing a strong and improving level of credit quality. Our credit quality improvement is evidenced by a continued reduction in the ratio of our level of non-performing loans to total loans at December 31, 2007, to 0.50%, which is the lowest ratio experienced in the past four years, and the return of our quarterly provision for loan losses to lower levels during the fourth quarter. We, nevertheless, diligently continue to closely monitor the quality of our loan portfolio in light of the apparent weakening of general economic conditions throughout the country. We remain committed to the continuation of this proven successful strategy of enhancing long-term shareholder value and believe the market will, utilizing a long-term perspective, recognize the inherent value of German American’s franchise.”

The Company also announced that its Board of Directors declared a regular quarterly cash dividend of $0.14 per share which will be payable on February 20, 2008 to shareholders of record as of February 10, 2008.

*****

German American Bancorp, Inc. is a financial services holding company based in Jasper, Indiana. The Company’s Common Stock is traded on NASDAQ’s Global Select Market System under the symbol GABC.  The principal subsidiary of German American Bancorp, Inc. is its banking subsidiary, German American Bancorp which operates through six community banking affiliates with 28 retail banking offices in the ten contiguous Southern Indiana counties of Daviess, Dubois, Gibson, Knox, Lawrence, Martin, Monroe, Perry, Pike, and Spencer. German American Bancorp owns a trust, brokerage and financial planning subsidiary which operates from its banking offices and a full line property and casualty insurance agency with six insurance agency offices throughout its market area.

*****

GERMAN AMERICAN BANCORP, INC.

NEWS RELEASE

For additional information, contact:

Mark A Schroeder, President/CEO of German American Bancorp, Inc.

Bradley M Rust, Senior Vice President/CFO of German American Bancorp, Inc.

(812) 482-1314

Forward-Looking Statements

German American’s statements in this press release regarding its outlook for its future financial performance, including its intention to maintain its strategy to prudently grow its balance sheet while maintaining asset quality and controlling expenses, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.   Readers are cautioned that, by their nature, forward-looking statements are based on assumptions and are subject to risks, uncertainties, and other factors. Actual results and experience could differ materially from the anticipated results or other expectations expressed or implied by these forward-looking statements as a result of a number of factors, including but not limited to, those discussed in the press release.  Factors which could cause actual results and experience to differ from these expectations include changes in interest rates; changes in competitive conditions; the introduction, withdrawal, success and timing of asset/liability management strategies or of mergers and acquisitions and other business initiatives and strategies; changes in customer borrowing, repayment, investment and deposit practices; changes in fiscal, monetary and tax policies; changes in financial and capital markets; changes in general economic conditions, either nationally or locally, resulting in, among other things, credit quality deterioration; capital management activities; actions of the Federal Reserve Board; changes in accounting principles and interpretations; and legislative and regulatory actions and reforms. These forward-looking statements speak only as of the date of this press release and German American undertakes no obligation to update any such forward-looking statement to reflect events or circumstances that occur after the date hereof.

GERMAN AMERICAN BANCORP, INC.

NEWS RELEASE

For additional information, contact:

Mark A Schroeder, President/CEO of German American Bancorp, Inc.

Bradley M Rust, Senior Vice President/CFO of German American Bancorp, Inc.

(812) 482-1314

Consolidated Balance Sheets

GERMAN AMERICAN BANCORP, INC.

(unaudited, dollars in thousands except per share data)

	December 31,
	2007			2006
ASSETS
Cash and Due from Banks	$	25,283		$	23,960
Short-term Investments		2,631			5,735
Investment Securities		152,764			185,557
Loans Held-for-Sale		5,697			1,601
Loans, Net of Unearned Income		867,721			796,259
Allowance for Loan Losses		(8,044	)		(7,129	)
Net Loans		859,677			789,130
Stock in FHLB and Other Restricted Stock		10,621			10,621
Premises and Equipment		22,783			23,245
Goodwill and Other Intangible Assets		13,685			14,579
Other Assets		38,569			38,996
TOTAL ASSETS	$	1,131,710		$	1,093,424
LIABILITIES
Non-interest-bearing Demand Deposits	$	136,212		$	137,671
Interest-bearing Demand, Savings, and
Money Market Accounts		353,643			329,690
Time Deposits		387,566			400,257
Total Deposits		877,421			867,618
Borrowings		144,170			119,889
Other Liabilities		13,003			13,526
TOTAL LIABILITIES		1,034,594			1,001,033
SHAREHOLDERS' EQUITY
Common Stock and Surplus		79,437			79,224
Retained Earnings		16,681			13,450
Accumulated Other Comprehensive Income (Loss)		998			(283	)
TOTAL SHAREHOLDERS' EQUITY		97,116			92,391
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	1,131,710		$	1,093,424
END OF PERIOD SHARES OUTSTANDING		11,029,484			11,008,562
BOOK VALUE PER SHARE	$	8.81		$	8.39

GERMAN AMERICAN BANCORP, INC.

NEWS RELEASE

For additional information, contact:

Mark A Schroeder, President/CEO of German American Bancorp, Inc.

Bradley M Rust, Senior Vice President/CFO of German American Bancorp, Inc.

(812) 482-1314

GERMAN AMERICAN BANCORP, INC.

(unaudited, dollars in thousands except per share data)

Consolidated Statements of Income

	Three Months Ended					Year Ended
	December 31,					December 31,
	2007			2006		2007			2006
INTEREST INCOME
Interest and Fees on Loans	$	16,354		$	14,496	$	63,852		$	53,490
Interest on Short-term Investments		129			178		478			545
Interest and Dividends on Investment Securities		1,853			2,421		7,931			9,559
TOTAL INTEREST INCOME		18,336			17,095		72,261			63,594
INTEREST EXPENSE
Interest on Deposits		6,708			6,193		27,289			21,329
Interest on Borrowings		1,613			1,589		6,357			6,069
TOTAL INTEREST EXPENSE		8,321			7,782		33,646			27,398
NET INTEREST INCOME		10,015			9,313		38,615			36,196
Provision for Loan Losses		347			291		3,591			925
NET INTEREST INCOME AFTER
PROVISION FOR LOAN LOSSES		9,668			9,022		35,024			35,271
NON-INTEREST INCOME
Net Gain on Sales of Loans and Related Assets		277			165		822			917
Net Gain (Loss) on Securities		(680	)		-		(680	)		951
Other Non-interest Income		3,922			3,672		15,562			14,125
TOTAL NON-INTEREST INCOME		3,519			3,837		15,704			15,993
NON-INTEREST EXPENSE
Salaries and Benefits		5,219			5,537		21,671			21,491
Other Non-interest Expenses		3,934			4,078		15,550			15,568
TOTAL NON-INTEREST EXPENSE		9,153			9,615		37,221			37,059
Income before Income Taxes		4,034			3,244		13,507			14,205
Income Tax Expense		1,259			806		4,102			3,984
NET INCOME	$	2,775		$	2,438	$	9,405		$	10,221
EARNINGS PER SHARE & DILUTED EARNINGS PER SHARE	$	0.25		$	0.22	$	0.85		$	0.93
WEIGHTED AVERAGE SHARES OUTSTANDING		11,012,428			10,997,099		11,009,536			10,994,739
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING		11,031,920			11,003,640		11,025,226			11,005,667

GERMAN AMERICAN BANCORP, INC.

NEWS RELEASE

For additional information, contact:

Mark A Schroeder, President/CEO of German American Bancorp, Inc.

Bradley M Rust, Senior Vice President/CFO of German American Bancorp, Inc.

(812) 482-1314

GERMAN AMERICAN BANCORP, INC.

(unaudited, dollars in thousands except per share data)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2007			2006			2007			2006
EARNINGS PERFORMANCE RATIOS
Annualized Return on Average Assets		0.99	%		0.91	%		0.84	%		0.99	%
Annualized Return on Average Equity		11.58	%		10.88	%		10.04	%		11.56	%
Net Interest Margin		3.90	%		3.88	%		3.84	%		3.96	%
Efficiency Ratio (1)		66.99	%		71.96	%		67.79	%		69.60	%
Net Overhead Expense to Average Earning Assets (2)		2.18	%		2.36	%		2.10	%		2.24	%
ASSET QUALITY RATIOS
Annualized Net Charge-offs to Average Loans		0.17	%		1.21	%		0.32	%		0.50	%
Allowance for Loan Losses to Period End Loans								0.93	%		0.90	%
Non-performing Assets to Period End Assets								0.52	%		0.96	%
Non-performing Loans to Period End Loans								0.50	%		1.21	%
SELECTED BALANCE SHEET & OTHER FINANCIAL DATA
Average Assets	$	1,125,195		$	1,066,214		$	1,114,140		$	1,029,838
Average Earning Assets	$	1,036,025		$	977,310		$	1,023,496		$	941,549
Average Total Loans	$	865,329		$	751,432		$	840,849		$	715,260
Average Demand Deposits	$	135,984		$	132,237		$	133,824		$	129,759
Average Interest Bearing Liabilities	$	879,195		$	830,346		$	872,996		$	798,240
Average Equity	$	95,854		$	89,616		$	93,677		$	88,451
Period End Non-performing Assets (3)							$	5,881		$	10,497
Period End Non-performing Loans (4)							$	4,364		$	9,652
Tax Equivalent Net Interest Income	$	10,144		$	9,524		$	39,205		$	37,252
Net Charge-offs during Period	$	358		$	2,273		$	2,676		$	3,545

(1)	Efficiency Ratio is defined as Non-interest Expense divided by the sum of Net Interest Income, on a tax equivalent basis, and Non-interest Income.
(2)	Net Overhead Expense is defined as Total Non-interest Expense less Total Non-interest Income.
(3)	Non-performing assets are defined as Non-accrual Loans, Loans Past Due 90 days or more, Restructured Loans, and Other Real Estate Owned.
(4)	Non-performing loans are defined as Non-accrual Loans, Loans Past Due 90 days or more, and Restructured Loans.