Horizon Bancorp Inc (OQ:HBNC)

Sector:  Financials Industry:  Banks
See Regulatory Filings on SEC
Company Contact
Address: 515 Franklin St
Tel: 1-219-8732748
Website: https://www.horizonbank.com
IR: See website
Key People
Craig M. Dwight
Chairman of the Board, Chief Executive Officer
James D. Neff
Mark E. Secor
Chief Financial Officer, Executive Vice President
Kathie A. DeRuiter
Executive Vice President, Senior Bank Operations Officer
Dennis J. Kuhn
Executive Vice President, Chief Commercial Banking Officer
Todd A. Etzler
Senior Vice President, General Counsel, Corporate Secretary
Business Overview
Horizon Bancorp Inc, formerly Horizon Bancorp, is a bank holding company. The Company provides a range of banking services in Northern and Central Indiana and Southwestern and Central Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank) and other affiliated entities and Horizon Risk Management, Inc. The Company operates through commercial banking segment. The Bank 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. Horizon Risk Management, Inc. is a captive insurance company. LSB Risk Management, Inc. is a captive insurance company. As of September 1, 2017, the Bank operated through 60 offices throughout northern and central Indiana and southern Michigan and Ohio. The Bank's loan portfolio consists of commercial loans, real estate loans, mortgage warehouse loans and consumer loans.
Financial Overview
For the three months ended 31 March 2020, Horizon Bancorp Inc interest income increased 14% to $51.7M. Net interest income after loan loss provision decreased 5% to $32.3M. Net income increased 8% to $11.7M. Net interest income after loan loss provision reflects Net Interest Margin, Total - % decrease of 2% to 3.56%, Investment securities - taxable decrease of 7% to $2.9M.
Employees: 839 as of Dec 31, 2019
Reporting Currency: U.S. Dollars
Enterprise value: $1,089M as of Mar 31, 2020
Annual revenue (TTM): $214.61M as of Mar 31, 2020
EBITDA (TTM): $105.12M as of Mar 31, 2020
Net annual income (TTM): $67.38M as of Mar 31, 2020
Free cash flow (TTM): $64.89M as of Mar 31, 2020
Net Debt Last Fiscal Year: $674.53M as of Mar 31, 2020
Shares outstanding: 43,772,446 as of May 8, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization