Brought to you by WBIW News and Network Indiana
Last updated on Friday, July 26, 2013
(BLOOMINGTON) - German American Bancorp in Jasper has agreed to buy United Commerce Bancorp in Bloomington.
German American will pay about 5.3 million in cash and stock, or $15.86 a share for United Commerce which has 128-million dollars in assets.
German American, with assets of two-billion dollars, expects to issue about 503-thousand shares of its common stock and pay about 1.6 million in cash.
The deal is expected to be close in the fourth quarter.
1340 AM WBIW welcomes comments and suggestions by calling 812.277.1340 during normal business hours or by email at comments@wbiw.com
© Ad-Venture Media, Inc. All Rights Reserved.