German American Bancorp in Jasper, Ind., has agreed to sell two branches in Lexington, Ky.
The $5.2 billion-asset company disclosed in a regulatory filing Friday that it will also sell $30.3 million of deposits and $8.9 million of loans to Home Savings and Loan Co. in Kenton, Ohio.
The sale is expected to close in the second half of this year. German American did not disclose the price Home Savings will pay.
German American said the sales are tied to its operating optimization plan. The company announced in mid-March that it would close seven branches and cut some jobs this year in moves that are expected to save it $3.7 million annually.
The company said it does not expect the sales will result in material gains or charges.