Trade Horizon Bancorp Inc/IN - HBNC CFD

Horizon Bancorp Company profile

About Horizon Bancorp Inc

Horizon Bancorp, Inc. (Horizon) is a bank holding company. Horizon provides a range of banking services in northern and central Indiana and southern and central Michigan through its bank subsidiary, Horizon Bank (Horizon Bank or the Bank), and other affiliated entities and Horizon Risk Management, Inc. Horizon is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services, and other services incident to banking. Its wholly owned Horizon Risk Management, Inc. is a captive insurance company. Its loan portfolio consists of commercial loans, real estate loans and mortgage warehouse loans. Horizon's retail offerings include prime residential, indirect auto, and other secured consumer lending to in market customers, as well as a range of personal banking and wealth management solutions. It also provides business banking and treasury management services.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Horizon Bancorp Inc interest income decreased 3% to $200M. Net interest income after loan loss provision increased 22% to $183.8M. Net income increased 27% to $87.1M. Net interest income after loan loss provision reflects Investment securities taxable increase of 78% to $15.1M, Investment securities tax exempt increase of 35% to $23.2M.

Equity composition

Common Stock $.2222 Par, 12/11, 22.5M auth., 4,964,235 issd.Insiders & strategic owns 9.82%. Stock issd. 10/83, perreorg. of First Merchants National Bank of Michigan City (Ind.). Basis: 1-for-1. 11/03, 3-for-2 stock split; 11/01, 3-for-1 stock split. Preferred Stock no par,. 12/11, 3-for-2 Stock split. 11/12, 3-for-2 Stock split.