Brief: German American Bancorp Says German American Bank To Implement Various Staff Reductions During 2021

German American Bancorp

12/03/2021 12:25

March 12 (Reuters) - German American Bancorp Inc  GABC.O :
    * GERMAN AMERICAN BANCORP - ON MARCH 8, BOARD APPROVED
OPERATING
OPTIMIZATION PLAN PRESENTED BY GERMAN AMERICAN BANK UNIT
    * GERMAN AMERICAN BANCORP - PURSUANT TO PLAN, GERMAN
AMERICAN BANK
TO CONSOLIDATE 7 BRANCH OFFICES, IMPLEMENT VARIOUS STAFF
REDUCTIONS DURING 2021
    * GERMAN AMERICAN BANCORP - EXPECTS TO RECORD PRE-TAX
CHARGES OF
ABOUT $1.8 MILLION DURING Q1 2021 RELATED TO OPTIMIZATION
ACTIONS
    * GERMAN AMERICAN BANCORP - EXPECTS TO RECORD ADDITIONAL
PRE-TAX
CHARGES OF ABOUT $1.2 MILLION DURING REMAINDER OF 2021 RELATED
TO OPTIMIZATION ACTIONS

Source text: (https://bit.ly/3rKqNC0)
Further company coverage:  GABC.O 

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