Company Profile
- Horizon Bancorp, Inc. (NASDAQ: HBNC) (“Horizon” or “the company”), headquartered in Michigan City, Indiana, is a diversified $7.9 billion-asset bank holding company with origins dating back to 1873. Through its subsidiary, Horizon Bank (“the bank”), the company operates a 71-branch network across underserved small to mid-markets, largely throughout northern and central Indiana and southern, central, and northern Michigan. The market footprint is anchored in economies driven by education, manufacturing, and tourism, and situated near various urban midwestern MSAs.
- The loan portfolio is balanced with consumer loans (e.g., mortgages, HELOCs, indirect auto) representing ~40% of total loans. The commercial loan mix is granular with comparatively lower CRE and C&D exposures. Multiple revenue streams remain a key strategic focus, augmented by mortgage banking income, interchange fees, and fiduciary fees. HBNC operates a modest mortgage warehouse business,…