Horizon Bancorp(US:HBNC)2025-10-23 12:30Financial Performance - Net income experienced a significant decline, moving from a profit of $20644000 in Q2 2025 to a loss of $221990000 in Q3 2025[6] - Diluted EPS decreased substantially from $047 in Q2 2025 to $(469) in Q3 2025[6] - Net interest income increased from $55355000 in Q2 2025 to $58386000 in Q3 2025[6] - The net interest margin (NIM) on a fully taxable equivalent (FTE) basis expanded to 352% in Q3 2025, up from 323% in Q2 2025[6] Balance Sheet Transformation - The company completed the sale of $17 billion in investment securities and redeployed $580 million at a yield of 527%[8] - $700 million in FHLB puttable advances were prepaid[8] - $176 million of indirect auto loans were sold near the end of September[8] - Non-core, higher-cost transactional deposits were reduced by approximately $275 million[8] Loan Portfolio - Total loans decreased by $162 million, a 325% linked quarter decline[14] - Commercial loans grew 70% LQA[20] - Indirect auto loans declined by $210 million due to the intentional run-off and sale of $176 million in the quarter[25] Deposits - Total deposits decreased from $5699757000 in Q2 2025 to $5520901000 in Q3 2025[6] - Loans to deposits ratio is 874%[37]