HORIZON BANCORP INC IN
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 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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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| September 30 | ||
| 2024 | 2023 | |
| Operating Activities | ||
| Net income | $46,311 | $53,196 |
| Items not requiring (providing) cash | ||
| Credit loss expense | 4,218 | 1,185 |
| Depreciation and amortization | 7,684 | 7,920 |
| Share based compensation | 2,893 | 2,647 |
| Amortization of mortgage servicing rights | 1,435 | 832 |
| Net amortization of premiums and discounts | 6,496 | 7,742 |
| Loss on sale of investment securities | — | 480 |
| Gain on sale of mortgage loans | (3,144) | (3,372) |
| Proceeds from sales of loans held for sale | 91,515 | 107,436 |
| Loans originated for sale | (89,978) | (101,948) |
| Gain on cash value life insurance | (965) | (3,051) |
| Gain on sale of other real estate owned | (74) | (234) |
| Net change in: | ||
| Interest receivable | (656) | (2,556) |
| Interest payable | (10,849) | 10,901 |
| Other assets | 12,677 | (1,048) |
| Other liabilities | (12,822) | (6,174) |
| Net cash provided by operating activities | $54,741 | $73,956 |
| Investing Activities | ||
| Purchases of securities available for sale | $— | $(1,435) |
| Proceeds from sales of securities available for sale | — | 88,194 |
| Proceeds from maturities, calls and principal repayments of securities available for sale | 14,721 | 22,783 |
| Purchases of securities held to maturity | (312) | (10,141) |
| Proceeds from maturities, calls and principal repayments of securities held to maturity | 52,586 | 61,191 |
| Net change in interest earning time deposits | 1,470 | 605 |
| Purchase of FHLB stock | (19,317) | (7,832) |
| Purchase of loans | (240,020) | (99,594) |
| Net change in loans | (173,382) | (105,373) |
| Proceeds on the sale of OREO and repossessed assets | 1,067 | 2,280 |
| Premises and equipment expenditures | (3,286) | (6,440) |
| Proceeds from bank owned life insurance | 44,043 | 14 |
| Net cash used in investing activities | $(322,430) | $(55,748) |
| Financing Activities | ||
| Net change in deposits | 62,122 | (157,677) |
| Proceeds from borrowings | 512,759 | 587,853 |
| Repayment of borrowings | (563,120) | (378,914) |
| Net change in repurchase agreements | (13,631) | 4,622 |
| Net settlement of share awards | (840) | (1,204) |
| Dividends paid on common stock | (21,282) | (21,256) |
| Net cash provided by financing activities | $(23,992) | $33,424 |
| Net Change in Cash and Cash Equivalents | (291,681) | 51,632 |
| Cash and Cash Equivalents, Beginning of Period | 526,515 | 123,505 |
| Cash and Cash Equivalents, End of Period | $234,834 | $175,137 |
| Additional Supplemental Information | ||
| Interest paid | $138,505 | $84,403 |
| Income taxes paid | 9,505 | 1,554 |
| Transfer of loans to other real estate and repossessed assets | 1,845 | 2,342 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.