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. (HBNC) is a commercial bank holding company for Horizon Bank, serving Midwestern markets through branches in Indiana and Michigan and through digital and virtual tools. The HBNC news feed on Stock Titan aggregates company announcements, SEC-related disclosures, and other public communications that Horizon issues to investors and the broader market.
Investors following HBNC news will see earnings-related updates, such as announcements of quarterly financial results and the scheduling of conference calls to review those results. The company has issued press releases detailing the timing of its third and fourth quarter earnings releases and associated investor calls, and these items are reflected in the news flow. Horizon also uses news releases to highlight capital markets transactions, including underwritten public offerings of common stock and the issuance of fixed-to-floating rate subordinated notes intended to support balance sheet repositioning and regulatory capital.
The HBNC news stream also features balance sheet and capital strategy updates, where Horizon describes actions such as securities sales, prepayment of borrowings, and planned changes in loan and deposit composition as part of a broader restructuring plan. In addition, the company announces corporate governance and leadership developments, including the appointment of independent directors to its board and senior leadership changes at Horizon Bank, such as new heads of human resources and marketing.
By monitoring HBNC news, readers can track how Horizon Bancorp, Inc. communicates about its commercial and retail banking activities, capital raising efforts, dividends, and governance decisions. This page provides a consolidated view of these public announcements, allowing users to review the company’s recent disclosures and consider them alongside other market information.
Horizon Bank, an $8 billion financial institution and division of Horizon Bancorp, Inc. (NASDAQ GS: HBNC), has partnered with Blend (NYSE: BLND) to enhance its mortgage lending process. Blend's Mortgage Suite will provide Horizon Bank with a digital mortgage solution that streamlines the application experience, reduces origination costs, and boosts loan officer productivity.
Key features include:
- Advanced automation and mobile capabilities
- Seamless integration with existing infrastructure
- LO productivity tools for faster customer service
- Desktop and mobile access for loan officers
Blend processes over 20% of the nation's total mortgage origination volume and has demonstrated an average reduction of 8 days in loan cycle time, resulting in $914 in average cost savings per loan.
Horizon Bancorp (NASDAQ: HBNC) reported Q2 2024 results with EPS of $0.32, matching Q1 2024. Key highlights include:
- Net interest income increased to $45.3 million, up from $43.3 million in Q1 2024
- Net interest margin expanded to 2.64%, compared to 2.50% in Q1 2024
- Total loans grew 4.4% to $4.8 billion, driven by 5.6% commercial loan growth
- Credit quality remained strong with non-accrual loans declining to $18.3 million
- Deposits increased 0.9% to $5.6 billion
The company reported improved financial performance due to a strategic shift towards a more profitable earning asset mix and diligent expense management. Horizon's Indiana and Michigan markets continue to provide opportunities for organic growth.
Horizon Bancorp (NASDAQ GS: HBNC) has appointed Michele A. Samuels and Brian C. Walker as independent directors to the Board of its subsidiary, Horizon Bank, on June 18, 2024. Samuels, SVP and General Auditor at Blue Cross Blue Shield of Michigan, brings extensive audit and compliance experience. Walker, retired CEO of Herman Miller (now MillerKnoll), offers significant corporate leadership expertise. Both directors have impressive backgrounds in finance, auditing, and corporate governance.
These appointments aim to strengthen Horizon's leadership in its growing markets and enhance value creation for shareholders and communities. Samuels will serve on the Cyber Security and Audit Committees, while Walker joins the Compensation and ERM and Credit Policy Committees.
Horizon Bancorp (NASDAQ: HBNC) has announced a conference call to review its second quarter 2024 financial results. The call is scheduled for July 25, 2024, at 7:30 a.m. CT. The results will be disclosed on July 24, 2024, after market close, and will be available on Horizon’s investor relations website. Interested parties can access the call by dialing in from the U.S., Canada, or internationally. A replay of the call will be accessible starting approximately one hour after the call ends and will be available until August 2, 2024.
Horizon Bancorp, Inc. (NASDAQ: HBNC) announced the appointment of John R. Stewart, CFA, as the new Executive Vice President and Chief Financial Officer, effective May 20, 2024. Stewart brings 22 years of financial services experience, including roles in banking, investment management, and corporate finance. Most recently, he served as Deputy CFO of a $30 billion publicly traded bank. He succeeds Mark Secor, who becomes Chief Administration Officer after 16 years as CFO. Stewart's strategic planning and investor relations expertise are expected to enhance Horizon's growth and shareholder value. CEO Thomas Prame praised Secor's contributions, highlighting Horizon's expansion from $893 million to $7.8 billion and the successful integration of 12 mergers during his tenure.
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