According to a release today, Heartland Bank has announced that it has agreed to merge with German American Bankcorp of Indiana.
Heartland currently has 20 retail locations around central — including a nearly brand-new location in Delaware — and southern Ohio.
“This strategic partnership allows us to partner with another like-minded, larger community bank that enables us to continue our strong brand and growth trajectory within the markets we serve. It will also allow us to deepen and broaden our current and prospective customer relationships with enhanced financial service offerings. Strategically and culturally, Heartland and German American are exceptionally well-aligned with a strong commitment to the community banking business model. That model, centered on delivering the exceptional customer experience and willingness to invest in local communities that Ohio has come to know and love from Heartland, will propel our future success.”
G. Scott McCom, Chairman, Presiden & CEO of Heartland
This is an all-stock transaction expected to close in the first quarter 2025. It will be interesting to see how this plays out. The press release makes it sound like the Heartland Bank name will remain and be cobranded for some time with German Bank. This is a classic move when moving users to a new company — they do cobranding for a while and then eventually the Heartland Bank name will be removed.
The exception to this historically, has been Park National Bank which tended to leave the local branding in place throughout its initial expansion in Ohio when buying banks like First Knox, Richland Bank, and others all over the state. It wasn’t until the Park expanded into the Carolinas and reached a certain level of assets that all the brands were consolidated under the Park National name and brand.
Read the entire press release from German American Bancorp here.
The Growth Coach of Central Ohio, Heartland Bank, Caribou Coffee, and Parker Realty’s Toby Boyce are offering a class on August 28 from 7:30 – 9 a.m. at Heartland Bank in Delaware, Ohio. “Cultivating Adaptability in the Workplace” will focus on the critical role of adaptability in the workplace for employees, leaders, customers, and clients. For more information or to register visit heartland.bank/workshop.