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 Income
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| 2024 | 2023 | 2024 | 2023 | |
| Interest Income | ||||
| Loans receivable | $75,488 | $63,003 | $214,322 | $178,961 |
| Investment securities – taxable | 8,133 | 8,788 | 23,481 | 26,253 |
| Investment securities – tax exempt | 6,310 | 7,002 | 19,138 | 21,617 |
| Other | 957 | 1,332 | 6,192 | 1,960 |
| Total interest income | 90,888 | 80,125 | 263,133 | 228,791 |
| Interest Expense | ||||
| Deposits | 30,787 | 24,704 | 87,224 | 58,481 |
| Borrowed funds | 11,131 | 11,224 | 34,274 | 30,713 |
| Subordinated notes | 830 | 880 | 2,490 | 2,641 |
| Junior subordinated debentures issued to capital trusts | 1,230 | 1,227 | 3,668 | 3,469 |
| Total interest expense | 43,978 | 38,035 | 127,656 | 95,304 |
| Net Interest Income | 46,910 | 42,090 | 135,477 | 133,487 |
| Credit loss expense | 1,044 | 263 | 4,218 | 1,185 |
| Net Interest Income after Credit Loss Expense | 45,866 | 41,827 | 131,259 | 132,302 |
| Non–interest Income | ||||
| Service charges on deposit accounts | 3,320 | 3,086 | 9,664 | 9,135 |
| Wire transfer fees | 123 | 120 | 337 | 345 |
| Interchange fees | 3,511 | 3,186 | 10,446 | 9,637 |
| Fiduciary activities | 1,394 | 1,206 | 4,081 | 3,728 |
| (Loss) on sale of investment securities | — | — | — | (480) |
| Gain on sale of mortgage loans | 1,622 | 1,582 | 3,144 | 3,372 |
| Mortgage servicing income, net | 412 | 631 | 1,301 | 1,984 |
| Increase in cash value of bank owned life insurance | 349 | 1,055 | 965 | 3,051 |
| Other income | 780 | 964 | 1,987 | 1,675 |
| Total non–interest income | 11,511 | 11,830 | 31,925 | 32,447 |
| Non–interest Expense | ||||
| Salaries and employee benefits | 21,829 | 20,058 | 62,680 | 58,932 |
| Net occupancy expenses | 3,207 | 3,283 | 9,945 | 10,095 |
| Data processing | 2,977 | 2,999 | 8,020 | 8,684 |
| Professional fees | 676 | 707 | 1,997 | 1,873 |
| Outside services and consultants | 3,677 | 2,316 | 10,094 | 7,548 |
| Loan expense | 1,034 | 1,120 | 2,791 | 3,635 |
| FDIC insurance expense | 1,204 | 1,300 | 3,839 | 2,680 |
| Core deposit intangible amortization | 844 | 903 | 2,560 | 2,709 |
| Other losses | 297 | 188 | 828 | 543 |
| Other expense | 3,527 | 3,294 | 11,147 | 10,255 |
| Total non–interest expense | 39,272 | 36,168 | 113,901 | 106,954 |
| Income Before Income Taxes | 18,105 | 17,489 | 49,283 | 57,795 |
| Income tax expense (benefit) | (75) | 1,284 | 2,972 | 4,599 |
| Net Income | $18,180 | $16,205 | $46,311 | $53,196 |
| Basic Earnings Per Share | $0.42 | $0.37 | $1.06 | $1.22 |
| Diluted Earnings Per Share | 0.41 | 0.37 | 1.05 | 1.21 |
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