HORIZON BANCORP INC IN

For the period ended Dec 31, 2023. Filed Mar 15, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 15, 2024

HBNC$21.30+0.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Income

(Dollar Amounts in Thousands, Except Per Share Data)

	Year Ended December 31
	2023	2022	2021
Interest Income
Loans receivable	$244,544	$173,500	$155,732
Investment securities – taxable	34,410	33,202	14,437
Investment securities – tax exempt	28,384	29,025	23,246
Other	4,967	306	695
Total interest income	312,305	236,033	194,110
Interest Expense
Deposits	85,857	17,809	7,867
Borrowed funds	42,478	12,465	4,701
Subordinated notes	3,511	3,522	3,522
Junior subordinated debentures issued to capital trusts	4,715	2,719	2,215
Total interest expense	136,561	36,515	18,305
Net Interest Income	175,744	199,518	175,805
Credit loss expense (recovery)	2,459	(1,816)	(2,084)
Net Interest Income after Credit Loss Expense (Recovery)	173,285	201,334	177,889
Non–interest Income
Service charges on deposit accounts	12,227	11,598	9,192
Wire transfer fees	448	595	892
Interchange fees	12,861	12,402	10,901
Fiduciary activities	5,080	5,381	7,419
Gains (losses) on sale of investment securities	(32,052)	—	914
Gain on sale of mortgage loans	4,323	7,165	19,163
Mortgage servicing income net of impairment	2,708	4,800	2,352
Increase in cash value of bank owned life insurance	3,709	2,594	2,094
Death benefit on bank owned life insurance	—	644	783
Other income	2,694	2,272	4,242
Total non–interest income	11,998	47,451	57,952
Non–interest Expense
Salaries and employee benefits	80,809	80,283	74,051
Net occupancy expenses	13,355	13,323	12,541
Data processing	11,626	10,567	9,962
Professional fees	2,645	1,843	2,216
Outside services and consultants	9,942	10,850	8,449
Loan expense	4,980	5,411	5,492
FDIC insurance expense	3,880	2,558	2,377
Core deposit intangible amortization	3,612	3,702	3,644
Other losses	1,051	1,046	2,283
Other expense	14,384	13,618	12,379
Total non–interest expense	146,284	143,201	133,394
Income Before Income Taxes	38,999	105,584	102,447
Income tax expense	11,018	12,176	15,356
Net Income Available to Common Shareholders	$27,981	$93,408	$87,091
Basic Earnings Per Share	$0.64	$2.14	$1.99
Diluted Earnings Per Share	0.64	2.14	1.98

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.