Horizon Bancorp, Inc. (NASDAQ: HBNC) (“Horizon” or “the company”), headquartered in Michigan City, Indiana, is a diversified $6.6 billion-asset bank holding company with origins dating back to 1873. Through its subsidiary, Horizon Bank (“the bank”), the company operates a 70+ branch network across 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 in close proximity to various urban midwestern MSAs.
HBNC’s loan portfolio is balanced with consumer loans (e.g., resi mortgages, HELOCs) representing ~29% of total loans. The commercial loan mix is granular with comparatively lower CRE and C&D exposures. In 3Q25 management made the strategic decision to sell the indirect auto portfolio, redeploying liquidity into core commercial banking lines, particularly C&I, along with other…
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