[8-K] Horizon Bancorp, Inc. Reports Material Event

Rhea-AI Filing Summary

ICICI Bank (NYSE: IBN) posted robust Q1-FY26 standalone results. Total income rose 11.9% YoY to ₹51,452 cr, while net profit climbed 15.5% YoY to ₹12,768 cr. Net interest income reached ₹21,635 cr, up 10.6% YoY; non-interest income (ex-treasury) grew 13.7% to ₹7,264 cr. Core operating profit advanced 13.6% YoY to ₹17,505 cr.

Margins & asset quality. NIM stood at 4.34% (Q4-FY25: 4.41%). Gross NPA ratio improved to 1.67% (2.15% a year ago); net NPA ratio fell to 0.41%. Provisioning coverage on NPAs is 75.3%. Provisions rose to ₹1,815 cr versus ₹1,332 cr in Q1-FY25.

Balance-sheet growth. Domestic loans expanded 12.0% YoY to ₹13.31 trn; period-end deposits grew 12.8% YoY to ₹16.09 trn, with average CASA ratio at 38.7%. Capital adequacy remains strong: total CAR 16.97%, CET-1 16.31% (regulatory minima: 11.70% & 8.20%).

Strategic action. Board approved acquisition of the remaining 100% of ICICI Prudential Pension Funds Management for ₹2,035 mn, pending RBI & PFRDA approvals, to enhance “Customer 360” synergies.

Consolidated view. Group PAT rose 15.9% YoY to ₹13,558 cr; assets grew 10.9% YoY to ₹26.69 trn.

Positive

• Net profit up 15.5% YoY to ₹12,768 cr driven by higher NII and fees
• Core operating profit growth 13.6% indicates healthy underlying franchise
• Asset quality best-in-class: NNPA 0.41%, PCR 75.3%
• Capital ratios robust: CAR 16.97%, CET-1 16.31%
• Loan & deposit growth double-digit at 12%+ YoY, supporting scale
• Strategic acquisition of ICICI PFM strengthens pension offering

Negative

• Provision charge up 36% YoY to ₹1,815 cr, reflecting higher slippages
• NIM compressed 7 bps QoQ to 4.34%, showing deposit cost pressure
• Retail loan growth slowed to 6.9% YoY; rural portfolio declined 0.4%
• Gross NPA additions increased to ₹6,245 cr vs ₹5,916 cr YoY

Insights

Equity Analyst

TL;DR — Strong profit growth, solid capital; watch NIM drift and higher provisions.

ICICI delivered double-digit top-line and bottom-line growth, driven by 10.6% NII expansion and resilient fee income. Asset quality metrics are best-in-class among Indian large-cap banks, with NNPA at 0.41% and 75% PCR. Capital at 17% provides scope for growth and dividends. That said, sequential NIM compression (7 bps) and 37% jump in provisions warrant monitoring, especially as retail growth slowed to 6.9% and rural loans contracted. Acquisition of ICICI PFM is small (<0.1% assets) but deepens retirement services offering. Overall impact: positive.

Risk Analyst

TL;DR — Credit risk remains contained; coverage, capital and diversified book mitigate uptick in slippages.

Gross NPA additions rose to ₹6,245 cr, yet headline GNPA ratio improved due to aggressive recoveries and portfolio growth. Contingency buffer of ₹13,100 cr plus total extra provisions of ₹22,664 cr (1.7% of loans) limit downside. BB-and-below exposure is just ₹2,995 cr (0.2% of loans). Capital adequacy >5 ppt above requirement further safeguards. Key watch-outs: slower rural lending, higher wholesale share, and potential NIM pressure from rising deposit costs.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 23, 2025

HORIZON BANCORP, INC.

(Exact name of registrant as specified in its charter)

Indiana			000-10792			35-1562417
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

515 Franklin Street

Michigan City, IN 46360

(Address of principal executive offices, including zip code)

(219) 879-0211

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class			Trading Symbol(s)			Name of each exchange on which registered
Common stock, no par value			HBNC			The NASDAQ Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 2.02 Results of Operations and Financial Condition

On July 23, 2025, Horizon Bancorp, Inc. (the “Company”) issued a press release announcing earnings and other financial results for the three–months ended June 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated here by reference.

Item 7.01 Regulation FD Disclosure

Investor Presentation

The Company has prepared presentation materials (the “Investor Presentation”) that management intends to use during its previously announced Earnings Conference Call on Thursday, July 24, 2025 at 7:30 a.m. Central Time, and from time to time thereafter in presentations about the Company’s operations and performance. The Company may use the Investor Presentation, possibly with modifications, in presentations to current and potential investors, analysts, lenders, business partners, acquisition candidates, customers, employees and others with an interest in the Company and its business.

A copy of the Investor Presentation is furnished as Exhibit 99.2 to this report and incorporated here by reference. The Investor Presentation is also available on the Company’s investor website at www.horizonbank.com. Materials on the Company’s investor website are not part of or incorporated by reference into this report.

In accordance with General Instruction B.2 of Form 8–K, the information in this Current Report on Form 8–K, including Exhibits 99.1 and 99.2, shall not be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits
EXHIBIT INDEX
			Exhibit No.			Description			Location
			99.1			Press release issued on July 23, 2025			Attached
			99.2			Horizon Bancorp, Inc. Investor Presentation dated July 24, 2025			Attached
			104			Cover Page Interactive Data File (Embedded within the Inline XBRL document)			Within the Inline XBRL document

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:			July 23, 2025			HORIZON BANCORP, INC.
						By:			/s/ John R. Stewart, CFA
									John R. Stewart, CFA
									Executive Vice President & Chief Financial Officer

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FAQ

How much did ICICI Bank's net profit grow in Q1-FY26?

Standalone profit after tax grew 15.5% YoY to ₹12,768 crore.

What is ICICI Bank's current net NPA ratio?

Net NPA ratio improved to 0.41% as of 30 June 2025.

What are the bank's capital adequacy ratios after Q1-FY26 earnings?

Including Q1 profits, total CAR is 16.97% and CET-1 is 16.31%.

How did net interest income (NII) perform year-on-year?

NII increased 10.6% YoY to ₹21,635 crore.

What growth was recorded in deposits and loans?

Deposits rose 12.8% YoY to ₹16.09 trn; domestic loans grew 12.0% YoY to ₹13.31 trn.

What is the status of the ICICI Prudential Pension Funds acquisition?

Board approved purchase of 100% stake for ₹2,035 million, pending regulatory approvals.