HORIZON BANCORP INC /IN/
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
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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Consolidated Statements of Income
(Dollar Amounts in Thousands, Except Per Share Data)
| Year Ended December 31 | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Interest Income | |||
| Interest and fees on loans | $291,069 | $244,544 | $173,500 |
| Investment securities – taxable | 30,295 | 34,410 | 33,202 |
| Investment securities – tax exempt | 25,439 | 28,384 | 29,025 |
| Other | 9,680 | 4,967 | 306 |
| Total interest income | 356,483 | 312,305 | 236,033 |
| Interest Expense | |||
| Deposits | 115,042 | 85,857 | 17,809 |
| Short and long-term borrowings | 44,930 | 42,478 | 12,465 |
| Subordinated notes | 3,319 | 3,511 | 3,522 |
| Junior subordinated debentures issued to capital trusts | 4,588 | 4,715 | 2,719 |
| Total interest expense | 167,879 | 136,561 | 36,515 |
| Net Interest Income | 188,604 | 175,744 | 199,518 |
| Credit loss expense (recovery) | 5,389 | 2,459 | (1,816) |
| Net Interest Income after Credit Loss Expense (Recovery) | 183,215 | 173,285 | 201,334 |
| Non–interest Income | |||
| Service charges on deposit accounts | 12,940 | 12,227 | 11,598 |
| Wire transfer fees | 461 | 448 | 595 |
| Interchange fees | 13,799 | 12,861 | 12,402 |
| Fiduciary activities | 5,394 | 5,080 | 5,381 |
| Gains (losses) on sale of investment securities | (39,140) | (32,052) | — |
| Gain on sale of mortgage loans | 4,215 | 4,323 | 7,165 |
| Mortgage servicing income, net | 1,677 | 2,708 | 4,800 |
| Increase in cash value of bank owned life insurance | 1,300 | 3,709 | 2,594 |
| Death benefit on bank owned life insurance | — | — | 644 |
| Other income | 2,325 | 2,694 | 2,272 |
| Total non–interest income | 2,971 | 11,998 | 47,451 |
| Non–interest Expense | |||
| Salaries and employee benefits | 88,244 | 80,809 | 80,283 |
| Net occupancy expenses | 13,376 | 13,355 | 13,323 |
| Data processing | 10,861 | 11,626 | 10,567 |
| Professional fees | 2,733 | 2,645 | 1,843 |
| Outside services and consultants | 14,564 | 9,942 | 10,850 |
| Loan expense | 4,076 | 4,980 | 5,411 |
| FDIC insurance expense | 5,032 | 3,880 | 2,558 |
| Core deposit intangible amortization | 3,403 | 3,612 | 3,702 |
| Other losses | 1,199 | 1,051 | 1,046 |
| Other expense | 15,348 | 14,384 | 13,618 |
| Total non–interest expense | 158,836 | 146,284 | 143,201 |
| Income Before Income Taxes | 27,350 | 38,999 | 105,584 |
| Income tax (benefit) expense | (8,079) | 11,018 | 12,176 |
| Net Income Available to Common Shareholders | $35,429 | $27,981 | $93,408 |
| Basic Earnings Per Share | $0.81 | $0.64 | $2.14 |
| Diluted Earnings Per Share | 0.80 | 0.64 | 2.14 |
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