Horizon Bancorp Inc (OQ:HBNC)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 515 Franklin St MICHIGAN CITY IN 46360-3328 |
| Tel: | 1-219-8145618 |
| Website: | https://www.horizonbank.com |
| IR: | See website |
| Key People | ||
| Thomas M. Prame President, Chief Executive Officer, Director | Mark E. Secor Chief Financial Officer, Executive Vice President of the Company and the Bank | Todd A. Etzler Executive Vice President, Chief Legal and Risk Officer, Corporate Secretary |
| Kathie A. Deruiter Executive Vice President of Horizon and Horizon Bank, Senior Operations Officer of Horizon Bank | Lynn M. Kerber Executive Vice President of Horizon and Horizon Bank, Chief Commercial Banking Officer of Horizon Bank | |
| Business Overview |
| Horizon Bancorp, Inc. is a bank holding company for Horizon Bank, which serves customers across Midwestern markets through digital and virtual tools, as well as its Indiana and Michigan branches. The Company operates through a single segment, which is commercial banking. 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. Its 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 a range of in-market business banking and treasury management services, as well as equipment financing solutions for customers regionally and nationally. The Bank maintains around 71 full service offices. The Bank's subsidiaries include Horizon Investments, Inc., Horizon Properties, Inc. and Horizon Insurance Services, Inc. |
| Financial Overview |
| For the three months ended 31 March 2024, Horizon Bancorp Inc interest income increased 19% to $85.3M. Net interest income after loan loss provision decreased 6% to $42.5M. Net income decreased 23% to $14M. Net interest income after loan loss provision reflects Investment securities taxable decrease of 16% to $7.4M, Investment securities nontaxable decrease of 15% to $6.5M. Net income also reflects Deposits increase of 89% to $28M (expense). |
| Employees: | 818 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $1,759M as of Mar 31, 2024 |
| Annual revenue (TTM): | $325.77M as of Mar 31, 2024 |
| EBITDA (TTM): | $96.37M as of Mar 31, 2024 |
| Net annual income (TTM): | $23.74M as of Mar 31, 2024 |
| Free cash flow (TTM): | N/A |
| Net Debt Last Fiscal Year: | $1,201M as of Mar 31, 2024 |
| Shares outstanding: | 44,115,840 as of Mar 31, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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