Earnings Release and Conference Call - Horizon Bancorp, Inc. will release its financial results for Q4 2024 after market close on January 22, 2025 [4] - Management will host a conference call to discuss Q4 2024 financial results on January 23, 2025, at 7:30 a.m. CT [4] - The press release regarding Q4 2024 earnings and conference call is attached as Exhibit 99.1 [5]

Contact: Mark E. Secor Chief Administration Officer Phone: 219-873-2611 About Horizon Bancorp, Inc. Horizon Bancorp, Inc. (NASDAQ GS: HBNC) is the $7.8 billion-asset commercial bank holding company for Horizon Bank, which serves customers across diverse and economically attractive Midwestern markets through convenient digital and virtual tools, as well as its Indiana and Michigan branches. Horizon's retail offerings include prime residential and other secured consumer lending to in-market customers, as well ...

Core Viewpoint - Horizon Bancorp (HBNC) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system is based on changes in earnings estimates, which are crucial for predicting near-term stock price movements [2][4]. - The recent upgrade for Horizon Bancorp reflects an improvement in its earnings outlook, likely leading to a favorable impact on its stock price [3][5]. Earnings Estimate Revisions - Horizon Bancorp is projected to earn $1.78 per share for the fiscal year ending December 2025, representing a year-over-year increase of 26.2% [8]. - Over the past three months, the Zacks Consensus Estimate for Horizon Bancorp has risen by 6.8%, indicating a positive trend in earnings estimates [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Horizon Bancorp to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 Commission file number 000-10792 Horizon Bancorp, Inc. (Exact name of registrant as specified in its charter) | Indiana | | 35-1562417 | | --- | --- | --- | | (State or other jurisdiction of incorporation or organization) | | (I.R.S. Employer Identification No.) | | 515 Franklin Street, Michigan Ci ...

MICHIGAN CITY, Ind., Feb. 26, 2025 (GLOBE NEWSWIRE) -- (NASDAQ GS: HBNC) Horizon Bancorp, Inc. (“Horizon” or the “Company”) announced that Craig Dwight, Chairman of Board, will retire from the Board of Directors effective at the expiration of his current term on May 1, 2025. Mr. Dwight provided written notice of his decision on February 24, 2025, which was accepted by the Board on February 25, 2025. Concurrently, the Board of Directors elected Eric Blackhurst to serve as an Independent Chairperson, effectiv ...

Financial Data and Key Metrics - No specific financial data or key metrics changes mentioned in the provided content [1][2][3][4] Business Line Data and Key Metrics - No specific business line data or key metrics changes mentioned in the provided content [1][2][3][4] Market Data and Key Metrics - No specific market data or key metrics changes mentioned in the provided content [1][2][3][4] Company Strategy and Industry Competition - No specific company strategy or industry competition details mentioned in the provided content [1][2][3][4] Management Commentary on Operating Environment and Future Outlook - No specific management commentary on the operating environment or future outlook mentioned in the provided content [1][2][3][4] Other Important Information - The conference call may contain forward-looking statements subject to risks and uncertainties, with additional information available in Horizon's SEC filings [2][3] - Management may refer to non-GAAP financial measures, with reconciliations provided in the presentation [3] - The press release and supplemental presentation are available on the company's website [3] Q&A Session Summary - No Q&A session details provided in the content [1][2][3][4]

Horizon Bancorp (HBNC) reported $24.17 million in revenue for the quarter ended December 2024, representing a year-over-year increase of 10.8%. EPS of $0.36 for the same period compares to $0.33 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $61.53 million, representing a surprise of -60.72%. The company delivered an EPS surprise of -7.69%, with the consensus EPS estimate being $0.39.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

Core Viewpoint - Horizon Bancorp reported quarterly earnings of $0.36 per share, missing the Zacks Consensus Estimate of $0.39 per share, but showing an increase from $0.33 per share a year ago, indicating a -7.69% earnings surprise [1][2] Financial Performance - The company posted revenues of $24.17 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 60.72%, compared to $21.81 million in the same quarter last year [2] - Over the last four quarters, Horizon Bancorp has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance - Horizon Bancorp shares have lost about 1% since the beginning of the year, while the S&P 500 has gained 2.9% [3] - The stock is currently rated Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [6] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.38 on revenues of $60.57 million, and for the current fiscal year, it is $1.67 on revenues of $251.97 million [7] - The outlook for the industry, particularly the Banks - Northeast sector, is favorable, ranking in the top 24% of over 250 Zacks industries [8]

Core Insights - Horizon Bancorp reported a net loss of $10.9 million for Q4 2024, compared to a net income of $18.2 million in Q3 2024 and a net loss of $25.2 million in Q4 2023, primarily due to a $39.1 million pre-tax loss on the sale of investment securities [2][3][4] - The company achieved a net interest income of $53.1 million in Q4 2024, marking an increase from $46.9 million in Q3 2024, driven by a 31 basis point increase in net interest margin to 2.97% [4][9] - Total loans increased to $4.91 billion as of December 31, 2024, reflecting a growth of $108.6 million from the previous quarter, with a notable 22.4% annualized growth rate in commercial loans [4][20] - Total deposits decreased by $126.4 million to $5.60 billion, primarily due to a decline in time deposits [4][21] - The company completed the repositioning of $332.2 million of available-for-sale securities during Q4 2024, resulting in a pre-tax loss but allowing for reinvestment into higher-yielding loans [4][19] Financial Performance - For the twelve months ended December 31, 2024, net income was $35.4 million, or $0.80 per diluted share, compared to $28.0 million, or $0.64 per diluted share for the same period in 2023 [3] - Non-interest loss for Q4 2024 was $29.0 million, significantly down from a non-interest income of $11.5 million in Q3 2024, largely due to the loss on the sale of investment securities [15] - Non-interest expenses rose to $44.9 million in Q4 2024, up from $39.3 million in Q3 2024, driven by increased salaries and employee benefits [16] Balance Sheet Highlights - Total assets decreased by $126.3 million to $7.80 billion as of December 31, 2024, primarily due to the use of proceeds from the sale of investment securities to pay down higher-cost time deposits [18] - The allowance for credit losses as a percentage of loans held for investment was 1.07% at December 31, 2024, down from 1.10% at September 30, 2024 [12][26] - Tangible common equity totaled $598.1 million at December 31, 2024, with a tangible common equity to tangible assets ratio of 7.83% [24] Credit Quality - Credit quality remained strong, with annualized net charge-offs of 0.05% of average loans during Q4 2024, compared to 0.03% in Q3 2024 [11][26] - Total non-performing assets increased to $27.4 million, or 0.35% of total assets, reflecting a slight increase from 0.32% in the previous quarter [25][26] Strategic Initiatives - The company is focused on restructuring its expense base to enhance efficiency in 2025, having completed several major initiatives in Q4 2024 [2][4] - Horizon is in the process of selling its mortgage warehouse division, which was completed on January 17, 2025, with gains expected to be recognized in Q1 2025 [5]

Core Insights - Horizon Bancorp (HBNC) is expected to report quarterly earnings of $0.39 per share, reflecting an 18.2% increase year-over-year [1] - Analysts forecast revenues of $61.53 million, indicating a significant increase of 182.1% compared to the previous year [1] - There has been no revision in the consensus EPS estimate over the past 30 days, suggesting stability in analyst projections [1] Earnings Estimates and Metrics - The 'Efficiency Ratio' is projected to be 67.7%, a significant improvement from 180.4% reported in the same quarter last year [4] - 'Average Balance - Total interest earning assets' is expected to reach $7.42 billion, up from $7.24 billion a year ago [4] - 'Net Interest Income' is forecasted at $50.48 million, compared to $42.26 million in the same quarter last year [5] - 'Service charges on deposit accounts' are estimated to be $3.37 million, an increase from $3.09 million year-over-year [5] - 'Interchange fees' are expected to reach $3.53 million, up from $3.22 million in the same quarter last year [6] Market Performance - Shares of Horizon Bancorp have decreased by 3.9% over the past month, contrasting with a 0.4% decline in the Zacks S&P 500 composite [7] - With a Zacks Rank 2 (Buy), HBNC is anticipated to outperform the overall market in the near future [7]