Horizon Bancorp Stock Price, News & Analysis

Horizon Bancorp reported record financial results for Q4 2020, earning $21.9 million or $0.50 per diluted share, compared to $20.3 million in Q3 2020 and $18.5 million in Q4 2019. The bank's net interest income increased to $43.6 million, and total loans rose to $3.88 billion. Horizon maintained strong asset quality with non-performing loans at 0.69%. Despite increased non-interest expenses of $36.5 million, the company sees liquidity and capital strength as opportunities for growth in 2021, with a tangible book value per share rise to $11.78.

Horizon Bancorp, Inc. (NASDAQ: HBNC) will host a conference call on January 28, 2021, at 7:30 a.m. CT to discuss its fourth quarter 2020 financial results. The earnings release will be available after market close on January 27, 2021, on the company's website. Interested participants can join the call by dialing specific numbers based on their location. A playback of the call will be accessible until February 4, 2021. Horizon operates as a commercial bank holding company in Indiana and Michigan.

Horizon Bancorp, Inc. achieved the No. 3 ranking on the rankingbanking.com list of top 20 "performance powerhouses" in the U.S. for banks with less than $10 billion in assets, as of June 30, 2020. It also secured the top spot among Indiana banks, excelling in areas like board strength, technology, lending, and revenue growth. Horizon's loan and revenue growth ranked fourth nationally from December 2014 to December 2019, reflecting its strategic focus on customer service and market dynamics.

Horizon Bancorp reported strong third-quarter results for 2020, with net income of $20.3 million or $0.46 diluted EPS, up from $14.6 million in Q2 2020. Pre-tax, pre-provision income grew to $26.7 million. The company maintained stable asset quality, with non-performing loans at 0.72% of total loans. The allowance for credit losses increased to $56.3 million, reflecting prudent reserve building. Total loans rose by 11.1% year-over-year, led by commercial lending. The tangible book value per share reached an all-time high of $11.29.

Horizon Bancorp, Inc. (NASDAQ: HBNC) will host a conference call on October 29, 2020, at 7:30 a.m. CT to discuss its third quarter 2020 financial results. The earnings release will be available after market close on October 28, 2020, on its Investor Relations website. Participants can join the call by calling 877-317-6789 (U.S.), 866-450-4696 (Canada), or 412-317-6789 (international). A replay will be accessible until November 5, 2020.

Horizon Bancorp reported strong second quarter 2020 results with net income of $14.6 million or $0.33 diluted EPS, up from $11.7 million in Q1 2020. Pre-tax, pre-provision net income increased to $23.7 million, reflecting successful mortgage lending with record volume of $252.8 million. The company maintained solid asset quality, with non-performing loans at 0.70% of total loans, while the allowance for credit losses rose 211.8% year-to-date to $55.1 million. Tangible book value per share reached $10.87, the highest in company history.

Horizon Bancorp will host a conference call on July 30, 2020, at 7:30 a.m. CT to discuss its Q2 2020 financial results. The results will be released on July 29, 2020, after market close, and will be available on the company's website. Participants can access the call by dialing specific numbers based on their location, with a replay available until August 6, 2020. Horizon operates in Indiana and Michigan as a commercial bank holding company and its stock trades under the symbol HBNC.

Horizon Bancorp announced a public offering of $60 million in subordinated notes with an interest rate of 5.625% fixed until July 1, 2025, after which it will transition to a floating rate. The offering is expected to close on June 24, 2020, and the funds will be used for general corporate purposes. These notes are designed to qualify as Tier 2 capital. The announcement includes a reminder for investors to review the relevant prospectus for complete details.