Financial Data and Key Metrics Changes - The second quarter earnings per share grew by 58% compared to the same period last year [6] - Net interest margin increased by 19 basis points to 3.23%, driven by improved mix of earning assets and liabilities [16][18] - Net charge-offs were near $254,000, representing an annualized charge-off rate of two basis points, which is favorable compared to previous performance [12] Business Line Data and Key Metrics Changes - Net loans held for investment grew by $75.5 million, representing 1.5% growth in the quarter and 6.2% on an annualized basis [8] - Commercial loans increased by $117 million, with a growth rate of 14.8% in the quarter [9] - Consumer loan balances decreased by $41 million, reflecting a strategic shift to reduce the indirect auto portfolio [11] Market Data and Key Metrics Changes - Deposit portfolio balances remained relatively flat from Q1, with a disciplined approach to deposit pricing [14] - The competitive environment for lending has become more aggressive, particularly in pricing, leading to compression on spreads [35] Company Strategy and Development Direction - The company aims to improve recurring and predictable operating profitability, with a focus on loan growth in the mid-single-digit range for the year [22] - There is an ongoing strategic repositioning of the balance sheet to reduce reliance on wholesale funding [54] - The company is exploring potential buybacks and other uses of capital as profitability improves [30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic conditions in Northern Indiana, citing significant infrastructure investments and a favorable business environment [62] - The outlook for net interest income growth remains unchanged in the mid-teens for the full year 2025 [22] - Future provision expenses will be driven by anticipated loan growth, economic factors, and credit quality churn [12] Other Important Information - The company reported a well-managed expense quarter, with total expenses expected to be flat compared to 2024 [20] - The allowance for credit losses increased to $54 million, reflecting an increase from 1.07% to 1.09% of loans held for investment [12] Q&A Session Summary Question: Thoughts on capital build and potential uses - Management noted that CET1 ratios are up about 90 basis points over the last twelve months, providing more optionality for capital use [29] Question: Update on competitive environment for lending and funding - The lending environment is described as competitive, with some compression on spreads, particularly in commercial lending [35] Question: Decline in interchange revenue - Management acknowledged a slight decline in overall swipes and spend per swipe, attributing it to more conservative consumer spending [40] Question: Outlook for the economy within the footprint - Management expressed positive sentiment regarding the economy in Northern Indiana, highlighting infrastructure investments and business growth [62] Question: Appetite for M&A - The company is open to M&A opportunities, particularly in Indiana and Michigan, focusing on shareholder-friendly discussions [78]

Investor Presentation H o r i z o n B a n c o r p , I n c . ( N A S D A Q : H B N C ) S e c o n d Q u a r t e r E n d e d J u n e 3 0 , 2 0 2 5 J u l y 2 4 , 2 0 2 5 Beyond ordinary banking Important Information Forward-Looking Statements This press release may contain forward–looking statements regarding the financial performance, business prospects, growth and operating strategies of Horizon Bancorp, Inc. and its affiliates (collectively, "Horizon"). For these statements, Horizon claims the protection of ...

Company Performance - Horizon Bancorp reported quarterly earnings of $0.47 per share, exceeding the Zacks Consensus Estimate of $0.44 per share, and up from $0.32 per share a year ago, representing an earnings surprise of +6.82% [1] - The company posted revenues of $66.27 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 2.20%, compared to year-ago revenues of $55.76 million [2] - Over the last four quarters, Horizon Bancorp has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Market Performance - Horizon Bancorp shares have declined approximately 1.2% since the beginning of the year, while the S&P 500 has gained 7.3% [3] - The current consensus EPS estimate for the upcoming quarter is $0.46 on revenues of $66.15 million, and for the current fiscal year, it is $1.85 on revenues of $259.35 million [7] Industry Outlook - The Zacks Industry Rank for Banks - Northeast is currently in the top 24% of over 250 Zacks industries, indicating a favorable outlook as the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

Horizon Bancorp, Inc. Reports Second Quarter 2025 Results | Contact: | John R. Stewart, CFA | | --- | --- | | | EVP, Chief Financial Officer | | Phone: | (219) 814–5833 | | Fax: | (219) 874–9280 | | Date: | July 23, 2025 | FOR IMMEDIATE RELEASE Horizon Bancorp, Inc. Reports Strong Second Quarter 2025 Results Led by Continued Net Interest Margin Expansion Michigan City, Indiana, July 23, 2025 (GLOBE NEWSWIRE) – (NASDAQ GS: HBNC) – Horizon Bancorp, Inc. ("Horizon" or the "Company"), the parent company of Hori ...

Core Insights - Horizon Bancorp reported strong second quarter earnings driven by robust loan growth, stable funding, excellent credit quality, and effective expense management, with a 58% increase in earnings per share compared to the same period last year [2][3][29] Financial Performance - Net income for Q2 2025 was $20.6 million, or $0.47 per diluted share, down from $23.9 million, or $0.54 in Q1 2025, but up from $14.1 million, or $0.32 in Q2 2024 [2][3][10] - For the first half of 2025, net income totaled $44.6 million, or $1.01 per diluted share, compared to $28.1 million, or $0.64 in the same period of 2024 [3] Key Financial Metrics - Net interest income increased to $55.4 million in Q2 2025, a 5.9% rise from Q1 2025 and a 22.3% increase from Q2 2024, with a net interest margin of 3.23% [7][10] - Total loans held for investment rose by 6.2% annualized, with organic commercial loan growth of $117.2 million, or 14.8% [7][20] - Non-interest income for Q2 2025 was $10.9 million, down from $16.5 million in Q1 2025, primarily due to the absence of a one-time gain from the sale of the mortgage warehouse business [16][21] Expense Management - Total non-interest expense was $39.4 million in Q2 2025, slightly up from $39.3 million in Q1 2025, reflecting effective cost control measures [18][19] - The provision for credit losses was $2.5 million in Q2 2025, compared to $1.4 million in Q1 2025, attributed to growth in commercial loans and economic factors [11][12] Balance Sheet Highlights - Total assets increased by $23.4 million to $7.7 billion as of June 30, 2025, driven by loan growth and cash increases [20] - Total deposits decreased by $66.0 million to $5.7 billion, influenced by a decline in time deposits [21] - The allowance for credit losses as a percentage of loans held for investment was 1.09% as of June 30, 2025 [13][25] Capital Ratios - As of June 30, 2025, the total capital ratio was 14.48%, with Tier 1 capital at 12.52% [22][23] - Book value per common share increased to $18.06, reflecting growth in retained earnings [24]

Core Viewpoint - Horizon Bancorp, Inc. will host a conference call on July 24, 2025, to discuss its second quarter 2025 financial results, with the news release published on July 23, 2025 [1]. Group 1: Conference Call Details - The conference call is scheduled for 7:30 a.m. CT (8:30 a.m. ET) on July 24, 2025, and participants can join by dialing specific numbers based on their location [2]. - A telephone replay of the conference call will be available approximately one hour after the call ends, accessible until August 1, 2025, with a designated access code [3]. Group 2: Company Overview - Horizon Bancorp, Inc. is a commercial bank holding company with $7.6 billion in assets, serving customers in the Midwest through digital tools and physical branches in Indiana and Michigan [4]. - The company offers a variety of retail banking services, including residential and secured consumer lending, personal banking, and wealth management solutions [4]. - Horizon Bancorp also provides business banking and treasury management services, with commercial lending making up over half of its total loans [4].

Group 1 - Horizon Bancorp, Inc. reported 1Q earnings that were mostly in line with expectations, aside from a one-time gain from the sale of the mortgage warehouse business [1] - The earnings report aligns with the analysis provided in a previous March report [1] Group 2 - No stock, option, or similar derivative positions are held by the analyst in any of the companies mentioned [1] - The article expresses the author's own opinions without receiving compensation from any company mentioned [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from________to Commission file number 0-10792 HORIZON BANCORP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or o ...

Core Viewpoint - Horizon Bancorp (HBNC) shares have increased by 6.4% recently, closing at $14.74, with a potential upside indicated by Wall Street analysts' price targets suggesting a mean estimate of $18.50, representing a 25.5% upside [1] Price Targets - The average price targets from analysts range from a low of $17 to a high of $20.50, with a standard deviation of $1.66, indicating a relatively tight clustering of estimates [2] - The lowest estimate suggests a 15.3% increase from the current price, while the highest estimate indicates a 39.1% upside [2] Analyst Sentiment - There is strong agreement among analysts regarding HBNC's ability to report better earnings than previously predicted, which supports the view of potential upside [4] - Recent trends show three earnings estimates have been revised higher in the last 30 days, with no negative revisions, leading to a 5.1% increase in the Zacks Consensus Estimate [12] Zacks Rank - HBNC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating a strong potential for upside in the near term [13]

Financial Performance - Net income increased to $23493 thousand, compared to a loss of $10882 thousand in the previous quarter[9] - Diluted EPS was $054, compared to a loss of $025 in the previous quarter[9] - Net interest margin (NIM) expanded to 304%, a sixth consecutive quarter of expansion[9] - Non-interest income was $16499 thousand, compared to a loss of $28954 thousand in the previous quarter, including a $70 million pre-tax gain from the sale of the mortgage warehouse business[9, 10] Balance Sheet and Loan Growth - Total loans held for investment increased to $4909815 thousand[9] - Total deposits increased to $5765783 thousand[9] - Linked quarter annualized (LQA) loan growth of 5%, with commercial loan growth of 14% LQA[10] - Strategic reduction in borrowings of $330 million[10] Credit Quality - NPA/total assets ratio was 041%[9] - Annualized net charge-offs to average loans was 007%[9] Guidance - Full-year 2025 net interest income is expected to grow in the mid-teens[56] - Period-end total loans HFI to grow mid-single-digits[56]