JASPER, Ind. - German American Bancorp, Inc. (NASDAQ:GABC) announced the appointment of Mary Moorhouse as Senior Vice President and Chief Risk Officer, effective April 1, 2024. Moorhouse will be taking over from Jeff Cash, who is retiring after more than 15 years in the role.
Moorhouse, who currently holds the position of Vice President, Risk Management at German American, will assume responsibility for the company's enterprise-wide risk management program. Her duties will include identifying, assessing, and managing the risks facing the company. She will report directly to Chairman and CEO D. Neil Dauby and will join the senior management leadership team.
The incoming Chief Risk Officer is well-prepared for her new role, holding a Bachelor of Arts from Indiana University and a Juris Doctorate from Valparaiso University School of Law, along with a Certified Enterprise Risk Professional certification from the American Bankers Association.
Dauby expressed confidence in Moorhouse's leadership abilities and emphasized the importance of risk management to German American Bancorp's operations. "Mary is a proven leader at German American and we feel fortunate to be able to promote from within for such a critical role," he said. "Comprehensive risk management is a foundational element of our core business at German American."
Moorhouse's predecessor, Jeff Cash, is credited with leading the development of German American's current risk framework and establishing effective risk management policies and programs. Dauby acknowledged Cash's significant contributions to the company's risk management foundation.
German American Bancorp, Inc., headquartered in Jasper, Indiana, operates through its banking subsidiary German American Bank, with 75 banking offices across southern Indiana and Kentucky. The company also owns an investment brokerage and a full line property and casualty insurance agency.
The information in this article is based on a press release statement from German American Bancorp, Inc.
InvestingPro Insights
In light of the recent executive transition at German American Bancorp, Inc. (NASDAQ:GABC), investors are closely observing the company's financial health and market performance. The bank, which prides itself on a stable dividend policy, has indeed raised its dividend for 11 consecutive years, reflecting a strong commitment to shareholder returns. This is a noteworthy highlight given that German American has maintained dividend payments for an impressive 32 consecutive years, according to InvestingPro Tips.
From a valuation standpoint, German American Bancorp is trading at a P/E ratio of 11.48, with the adjusted P/E ratio for the last twelve months as of Q4 2023 standing at 11.66. While this indicates a measure of investor confidence, the company is also trading at a high P/E ratio relative to near-term earnings growth, suggesting that the market has potentially priced in the expected performance. Additionally, the stock is trading near its 52-week high, currently at 96.8% of this peak, indicating a significant price uptick over the last six months, as the six-month price total return is an impressive 26.05%.
It is also important to note that while the company has been profitable over the last twelve months, analysts have revised their earnings downwards for the upcoming period, and net income is expected to drop this year. These InvestingPro Tips provide a nuanced view of the company's outlook and could be pivotal for investors considering German American Bancorp's stock. For those interested in a deeper dive, there are additional tips available on InvestingPro, and users can apply the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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