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 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.
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