Horizon Bank Appoints David Pendley President of Mortgage Banking

Rhea-AI Summary

Horizon Bank appoints David Pendley as the divisional President of Mortgage Banking, aiming to expand market share and grow the mortgage division. Pendley brings over 30 years of experience and plans to leverage Horizon's strong client base and funding capability for profitable growth.

MICHIGAN CITY, Ind., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Horizon Bank announced the appointment of David Pendley as the divisional President of Mortgage Banking.

Pendley will lead the strategic direction and profitable growth of the bank’s mortgage banking division, with responsibility for sales, operations, underwriting, secondary markets, and closing.

“David is a seasoned veteran with more than 30 years of experience in mortgage sales, operations, secondary markets and process design, as well as a proven leader in building high-performing teams that go above and beyond for their clients,” CEO and President Thomas Prame stated. “We believe Horizon is well positioned to expand market share due to its extensive client base, economically strong communities and in-market local lenders. We have been our clients’ trusted advisors for over 150 years and look forward to expanding on this success with David leading our mortgage platform.”

Horizon provides residential mortgages to clients through its more than 70 Indiana and Michigan branches, HorizonBank.com, and an extensive referral network of real estate agents and attorneys. Growth of Horizon’s high-quality mortgage portfolio is expected to be an accelerant for the balance sheet restructuring efforts announced in December 2023, which created over $500 million in liquidity that the bank plans to reinvest into higher yielding assets throughout 2024.

“Horizon’s balance sheet and funding capability, established residential lending infrastructure, and strong referral network provides an outstanding opportunity to profitably grow the mortgage division,” Pendley said. “I’m very excited to be joining Horizon to lead its highly experienced mortgage lending team.”

About Horizon Bancorp, Inc.
Horizon Bancorp, Inc. (NASDAQ GS: HBNC) is the nearly 8 billion–asset bank holding company for Horizon Bank, which serves customers across attractive Midwestern markets through convenient digital tools, as well as its Indiana and Michigan branches. Horizon's retail offerings include prime residential, indirect auto, and other secured consumer lending, as well as a range of personal banking and wealth management solutions. Horizon also provides a comprehensive array of in–market business banking and treasury management services, as well as equipment financing solutions for customers regionally and nationally, with commercial lending representing over half of total loans. More information on Horizon, headquartered in Northwest Indiana's Michigan City, is available at horizonbank.com and investor.horizonbank.com.

Contact: Thomas Prame
Chief Executive Officer and President
Phone: (219) 814-5983

Who was appointed as the divisional President of Mortgage Banking at Horizon Bank?

David Pendley was appointed as the divisional President of Mortgage Banking at Horizon Bank.

How many years of experience does David Pendley have in mortgage sales and operations?

David Pendley has over 30 years of experience in mortgage sales and operations.

What is the strategic direction David Pendley will lead at Horizon Bank?

David Pendley will lead the strategic direction and profitable growth of the bank’s mortgage banking division.

What efforts were announced in December 2023 that created over $500 million in liquidity for Horizon Bank?

The balance sheet restructuring efforts announced in December 2023 created over $500 million in liquidity for Horizon Bank.

How does Horizon Bank plan to reinvest the $500 million liquidity created in December 2023?

Horizon Bank plans to reinvest the $500 million liquidity into higher yielding assets throughout 2024.