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Horizon Bancorp, Inc.

NASDAQ•HBNC
CEO: Mr. Thomas M. Prame
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 2002-01-09
Horizon Bancorp, Inc. operates as the bank holding company for Horizon Bank that engages in the provision of commercial and retail banking services. The company offers checking, saving, money market, certificate of deposits, individual retirement accounts, and time deposits, as well as non-interest- and interest-bearing demand deposits. It also provides commercial, residential real estate, mortgage, home equity, auto, personal, business, agricultural, and SBA loans, as well as credit cards. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; debit cards; treasury management; online and mobile banking; wealth, retirement, and estate and trust services; and sells various insurance products. It operates through full-service offices in northern and central Indiana and southern and central Michigan. Horizon Bancorp, Inc. was founded in 1873 and is headquartered in Michigan City, Indiana.
Contact Information
515 Franklin Street, Michigan City, IN, 46360, United States
219-879-0211
www.horizonbank.com
Market Cap
$872.23M
P/E (TTM)
-5.8
13.9
Dividend Yield
3.8%
52W High
$19.07
52W Low
$12.70
52W Range
68%
Rank39Top 39.1%
4.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$100.75M+59.64%
4-Quarter Trend

EPS

$0.53-312.00%
4-Quarter Trend

FCF

$0.00-100.00%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Quarterly Net Loss Reported Significant $222.0M net loss for the quarter driven by $299.1M pre-tax loss from investment securities sale.
Core NII and NIM Growth Net Interest Income rose 24.5% to $58.4M; Net FTE Margin expanded 86 basis points to 3.52% year-over-year.
Asset Quality Remains Strong Non-performing loan ratio held steady at 0.61% of HFI loans; Allowance for Credit Losses stood at $50.2M.
Capital Ratios Well Maintained Consolidated Total Risk-Based Capital ratio remained strong at 15.00%, meeting all well-capitalized requirements.

Risk Factors

Balance Sheet Repositioning Impact Major balance sheet repositioning resulted in a $1.1B asset decrease and significant realized loss impacting quarterly earnings.
Commercial Credit Weakness Noted Commercial non-accrual loans totaled $12.3M, reflecting defined credit weakness in that segment requiring close attention.
Interest Rate Sensitivity Exposure Interest rate risk analysis indicates potential $6.0M decrease in net interest income if rates fall 200 basis points.
Equity Decline from Operations Stockholders' equity declined $102.8M from year-end due to retained earnings reduction from net loss and dividends.

Outlook

Favorable Mix Supports NIM Management expects continued favorable mix shift toward higher-yielding loans to support net interest margin expansion.
Balanced Loan Portfolio Growth Company maintains balanced growth profile across geographies and products, supported by $278.4M organic commercial loan growth.
Meeting Capital Requirements Company and Bank met all capital adequacy requirements, remaining well capitalized under Basel III regulations.
Debt Structure Optimization Completed redemption of 2030 Subordinated Notes using proceeds from the August 2025 issuance of new notes.

Peer Comparison

Revenue (TTM)

AMTB stock ticker logoAMTB
$655.25M
+14.0%
MCB stock ticker logoMCB
$527.15M
+7.1%
BFST stock ticker logoBFST
$511.93M
+11.8%

Gross Margin (Latest Quarter)

CCBG stock ticker logoCCBG
88.4%
+2.5pp
CCNE stock ticker logoCCNE
77.1%
+17.6pp
HBNC stock ticker logoHBNC
74.4%
+40.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
AMTB$911.63M17.05.6%10.6%
MBWM$902.69M9.613.5%12.1%
NBN$901.08M10.817.3%10.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.4%
Flat Growth
4Q Net Income CAGR
4.0%
Profitability Slowly Improving
Cash Flow Stability
75%
Volatile Cash Flow

Deep Research

Next earnings:Apr 21, 2026
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