German American Announces Chairman of the Board and President Transition
22 Maio 2023 - 9:53AM
The Board of Directors for German American Bancorp, Inc. (GABC)
announced next steps in leadership succession by appointing current
Director and Chief Executive Officer, Neil Dauby, to succeed
retiring Mark Schroeder as Chairman of the Board, and Brad Rust as
President for both the holding company and the bank.
Tom Seger, lead director for GABC, stated “The
Board, along with the entire GABC family, are extremely grateful to
Mark for his longevity and dedicated service to German American.
His board and executive leadership and strong counsel throughout
his extensive career enabled the company to grow its footprint,
product and service offerings, and employment base as the company
grew from a small community bank to a regional financial services
company serving banking, insurance and wealth management.”
Mark Schroeder added, “I am grateful for the
support of the board, executive and management teams, and the
entire German American family throughout my career with the
company. It’s satisfying to fully step down while knowing the
strategy and vision of the board to transition the company’s
leadership into the capable hands of Neil and Brad has been
successful.”
Mr. Dauby joined German American Bank in 2001. He
served in various capacities as affiliate and regional president
roles and corporate positions including Executive Vice
President-Chief Commercial Banking Officer and President &
Chief Operating Officer before becoming the Chief Executive Officer
on January 1, 2022.
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
public accounting firms in various Kentucky markets, including
Bowling Green and Owensboro, which are a part of German American’s
footprint. In addition to being responsible for the overall vision,
strategy and execution of the Company as CEO, Dauby will provide
leadership, administration and oversight to the Board of
Directors.
Dauby states, “I am honored to be selected by the
Board to succeed Mark Schroeder. Mark and I have worked together
for over two decades building a great management team and building
great value for our shareholders”.
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 Bank. Brad, who has been German
American’s Chief Financial Officer (CFO) since 2005 and Chief
Operating Officer (COO) since January 1, 2022, currently serves as
Senior Executive Vice President for the Company. In his expanded
role as the President, Mr. Rust will provide executive oversight
over all operations of the Company, while also continuing in his
present role as CFO whose duties include mergers and acquisitions,
institutional research and shareholder relations.
Dauby commented, “Having worked with Brad for over
twenty years, I have the utmost confidence in his ability to lead
German American to even greater levels of success in the coming
years.”
About German American BankGerman
American Bancorp, Inc. is a financial holding company based in
Jasper, Indiana. German American, through its banking subsidiary
German American Bank, which was founded in 1910, operates 77
banking offices in 20 southern Indiana counties and 14 counties in
Kentucky. 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.) to offer a full array of services in banking, insurance and
wealth management.
For additional information, contact:
D. Neil Dauby, Chairman of the Board and Chief
Executive Officer
Bradley M Rust, President and Chief Financial
Officer
(812) 482-1314
Photos accompanying this announcement are available
at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a51fa5f4-d12b-4dbc-9ed4-6be951a8d5e7
https://www.globenewswire.com/NewsRoom/AttachmentNg/eb4908c0-0fd2-4161-a736-8813904efcca
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