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.
Huntington Bancshares and TCF Financial Corporation announced that regulatory approvals from the Federal Reserve Board and the Office of the Comptroller of the Currency have been granted for their upcoming merger. As part of this agreement, TCF National Bank will divest 14 banking centers in Michigan to Horizon Bank, totaling approximately $975 million in deposits. The merger is anticipated to close around June 9, 2021, following the satisfaction of customary closing conditions. This merger aims to strengthen Huntington's market presence in the Midwest.
Horizon Bancorp released its inaugural Corporate Social Responsibility report highlighting its initiatives in diversity, equity, and inclusion. Key findings from 2020 include that minorities made up 14% of the workforce and 26% of new hires identified as minorities. Women represented 76% of the workforce and 30% of independent board directors. Horizon extended $86.7 million in community development loans and financed $13.5 million in renewable energy projects. The company donated nearly $820,000 to over 200 nonprofits in Indiana and Michigan during 2020.
Horizon Bancorp announced strong first-quarter results for 2021, with a net income of $20.4 million or $0.46 diluted EPS, down from $21.9 million in Q4 2020. The bank's assets surpassed $6 billion, reflecting solid profitability and reduced deposit costs. Notable metrics include a net interest margin of 3.29%, a return on average assets of 1.40%, and a return on common equity of 11.88%. Horizon is well-positioned for growth with cash reserves exceeding $127 million and a recent 8.3% dividend increase.
Horizon Bancorp (NASDAQ: HBNC) will hold a conference call on April 29, 2021, at 7:30 a.m. CT to discuss its Q1 2021 financial results. The accompanying news release will be available post-market on April 28, 2021, via the company's Investor Relations webpage. Horizon Bancorp, with assets of $5.9 billion, operates primarily through Horizon Bank, offering various banking services across the Midwest, including residential and commercial lending, alongside wealth management solutions.
Horizon Bancorp (NASDAQ GS: HBNC) announced an 8.3% increase in its quarterly cash dividend, raising it from $0.12 to $0.13 per share. This change, effective April 16, 2021, pays to stockholders of record as of April 2, 2021. The annual dividend of $0.52 yields 2.66% based on the March 15, 2021 closing price. CEO Craig M. Dwight emphasized the company's strong balance sheet and operational efficiency, supported by approximately 17 quarters of cash on hand to sustain dividends and interest obligations.
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.
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