STOCK TITAN

Horizon Bancorp, Inc. - HBNC STOCK NEWS

Welcome to our dedicated page for Horizon Bancorp news (Ticker: HBNC), a resource for investors and traders seeking the latest updates and insights on Horizon Bancorp stock.

Horizon Bancorp, Inc. (NASDAQ: HBNC) is a prominent community bank holding company headquartered in Michigan City, Indiana. With a proud history dating back to 1873, Horizon Bancorp operates through its principal subsidiary, Horizon Bank, serving communities in Northern and Central Indiana, Central and Southwest Michigan, and Ohio.

The company offers a comprehensive suite of financial services including commercial and retail banking, corporate and individual trust and agency services. Horizon Bancorp's product portfolio spans commercial loans, real estate loans, mortgage warehouse loans, consumer loans, and other credit facilities, all designed to meet the diverse needs of its clientele.

Horizon Bancorp prides itself on its customer-centric philosophy. Each branch is led by seasoned local professionals empowered to make decisions that best serve their communities. This localized decision-making framework ensures that Horizon can provide tailored and effective solutions to its customers.

Recent achievements underscore Horizon's commitment to growth and innovation. On October 30, 2023, Horizon Bank announced the formation of a new equipment finance division, led by industry veteran Joel Mikolich. This strategic move aims to enhance Horizon's service offerings to small and medium-sized businesses nationwide, further diversifying its business model and revenue streams.

In terms of financial health, Horizon Bancorp has demonstrated stability and growth. As of September 30, 2023, the company reported total deposit balances of $5.70 billion. Although this represented a slight decline from the previous quarter, Horizon remains financially robust, with a well-capitalized balance sheet and ongoing efforts to optimize its investment portfolio and bank-owned life insurance policies.

Horizon Bancorp is a member of the FDIC and an Equal Housing Lender, underscoring its commitment to trust and integrity in serving its customers. The company’s common stock is actively traded on the NASDAQ Global Select Market under the symbol HBNC.

For investors and stakeholders, Horizon Bancorp continues to be a reliable entity with a strong foundation and a forward-looking approach, aiming to maximize shareholder value while fostering the economic prosperity of the communities it serves.

Rhea-AI Summary
Horizon Bancorp, Inc. announced strong unaudited financial results for the fourth quarter of 2023, with notable loan growth, stable core deposit balances, and improved asset quality. The company's successful balance sheet restructure provides ample liquidity for future earnings growth. Additionally, progress in building out the leasing platform is expected to have a positive impact in the second quarter of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.32%
Tags
-
Rhea-AI Summary
Horizon Bancorp, Inc. (HBNC) to host conference call to review Q4 and full year 2023 financial results
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.49%
Tags
-
Rhea-AI Summary
Horizon Bancorp, Inc. (HBNC) announced a balance sheet repositioning, selling $382.7 million in available-for-sale securities and surrendering $112.8 million in bank owned life insurance. The company expects the transactions to improve net interest income and flexibility in funding strategies. The proceeds will be re-deployed into higher yielding loans and other liquid assets, with an estimated annual contribution of $13 million to net income and $0.30 to earnings per share. The company's regulatory capital ratios remain above well capitalized levels, with the transactions expected to be neutral to tangible common equity and stockholders’ equity while enhancing the efficiency of the Bank’s balance sheet.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.08%
Tags
none
Rhea-AI Summary
NASDAQ GS: HBNC - Horizon Bancorp, Inc. Announces CFO Succession Plan and Restructuring of Mortgage and Consumer Lending Leadership
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.64%
Tags
management
-
Rhea-AI Summary
Horizon Bank has announced the formation of a new equipment finance division, led by Joel Mikolich. The division will offer business equipment financing solutions to small and medium-sized businesses nationwide, aiming to enhance Horizon's services and promote profitable growth. Mikolich, a seasoned veteran of the industry, brings over 20 years of experience and a successful track record. The immediate goal is to build a well-rounded team and originations platform by Q4 2023, with operations expected to begin in early 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.29%
Tags
none
-
Rhea-AI Summary
Horizon Bancorp, Inc. reports unaudited financial results for Q3 2023, with net income of $16.2 million and loans increasing by 8.2% annualized. Net interest income was $42.1 million, and non-interest income expanded to $11.8 million. Non-interest expense slightly improved, and asset quality remained sound. The company's dividend performance had a 5.99% yield as of September 30, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.21%
Tags
Rhea-AI Summary
Horizon Bancorp to host conference call to review Q3 2023 financial results
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.48%
Tags
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.29%
Tags
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.16%
Tags
Rhea-AI Summary
KBRA affirms the ratings of Horizon Bancorp, Inc. and Horizon Bank. The ratings reflect HBNC’s strong capital profile and positive operating leverage. The company's geographic footprint was expanded in 2021. Positive rating momentum is possible if core deposits and regulatory capital ratios are sustained at higher levels.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.8%
Tags
none

FAQ

What is the current stock price of Horizon Bancorp (HBNC)?

The current stock price of Horizon Bancorp (HBNC) is $18.26 as of December 4, 2024.

What is the market cap of Horizon Bancorp (HBNC)?

The market cap of Horizon Bancorp (HBNC) is approximately 798.2M.

What services does Horizon Bancorp, Inc. provide?

Horizon Bancorp, Inc. offers commercial and retail banking, trust and agency services, commercial loans, real estate loans, mortgage warehouse loans, consumer loans, and other credit facilities.

Where does Horizon Bancorp, Inc. operate?

Horizon Bancorp, Inc. serves communities in Northern and Central Indiana, Central and Southwest Michigan, and Ohio.

What is the significance of Horizon Bancorp’s new equipment finance division?

The new equipment finance division, led by Joel Mikolich, aims to provide business equipment financing solutions to small and medium-sized businesses nationwide, enhancing Horizon’s service offerings and revenue streams.

How has Horizon Bancorp, Inc. performed financially recently?

As of September 30, 2023, Horizon Bancorp reported total deposit balances of $5.70 billion and continues to maintain a well-capitalized balance sheet.

Who leads Horizon Bancorp’s local branches?

Each Horizon branch is led by experienced, local professionals who have deep roots in the communities they serve, ensuring localized decision-making.

How long has Horizon Bancorp, Inc. been in operation?

Horizon Bancorp, Inc. has been serving its communities since 1873, operating under its original charter and growing stronger over the years.

What stock exchange is Horizon Bancorp, Inc. listed on?

Horizon Bancorp, Inc.'s common stock is traded on the NASDAQ Global Select Market under the symbol HBNC.

Is Horizon Bancorp, Inc. an FDIC member?

Yes, Horizon Bancorp, Inc. is a member of the FDIC and is also an Equal Housing Lender.

What was the recent financial event hosted by Horizon Bancorp, Inc.?

Horizon Bancorp, Inc. hosted a conference call on October 26, 2023, to review its third quarter 2023 financial results.

Where can more information about Horizon Bancorp, Inc. be found?

More information can be found on their official website at www.horizonbank.com.

Horizon Bancorp, Inc.

Nasdaq:HBNC

HBNC Rankings

HBNC Stock Data

798.24M
42.26M
2.96%
68.93%
1.29%
Banks - Regional
State Commercial Banks
Link
United States of America
MICHIGAN CITY