HORIZON BANCORP INC /IN/
For the period ended Dec 31, 2025. Filed Mar 13, 2026.
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FY2025 · Filed Mar 13, 2026
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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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31 | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating Activities | |||
| Net income (loss) | $(150,482) | $35,429 | $27,981 |
| Items not requiring (providing) cash | |||
| Provision for credit losses | 1,896 | 5,389 | 2,459 |
| Depreciation and amortization | 10,304 | 10,331 | 10,938 |
| Share based compensation | 1,621 | 4,586 | 3,586 |
| Amortization of mortgage servicing rights | 2,095 | 1,971 | 1,032 |
| Net amortization of premiums and discounts on securities | 2,397 | 8,407 | 10,069 |
| Purchases of securities held for trading | (5,958) | — | — |
| Proceeds from maturities, calls and principal repayments of securities held for trading | 2,100 | — | — |
| Deferred income taxes | (85,472) | (17,000) | (3,322) |
| Loss on sale of investment securities | 299,538 | 39,140 | 32,052 |
| Gain on sale of mortgage loans | (4,799) | (4,215) | (4,323) |
| Net loss on sale of portfolio loans | 324 | — | — |
| Proceeds from sales of loans | 164,460 | 435,522 | 145,922 |
| Loans originated for sale | (164,794) | (499,688) | (138,430) |
| Gain on cash value life insurance | (1,987) | (1,300) | (3,709) |
| Gain on other real estate owned | (69) | (450) | (300) |
| Net change in: | |||
| Interest receivable | 10,014 | (1,037) | (3,416) |
| Interest payable | 1,755 | (11,112) | 16,869 |
| Other assets | 21,874 | (9,698) | 13,199 |
| Other liabilities | (25,586) | 10,093 | (21,671) |
| Net cash provided by operating activities | 79,231 | 6,368 | 88,936 |
| Investing Activities | |||
| Purchases of securities available for sale | (591,807) | — | (1,525) |
| Proceeds from sales of securities available for sale | 1,409,870 | 293,138 | 439,285 |
| Proceeds from maturities, calls and principal repayments of securities available for sale | 55,147 | 16,712 | 29,408 |
| Purchases of securities held to maturity | — | (312) | (10,141) |
| Proceeds from maturities of securities held to maturity | 63,783 | 71,649 | 80,201 |
| Net change in interest-earning time deposits | 735 | 1,470 | 607 |
| Purchase of FHLB stock | (301) | (19,317) | (7,832) |
| Redemption of FHLB stock | 8,414 | — | — |
| Purchase of loans | — | (240,020) | (124,946) |
| Proceeds from sale of portfolio loans | 228,892 | — | — |
| Net change in loans | (193,893) | (217,055) | (140,510) |
| Proceeds on the sale of OREO and repossessed assets | 895 | 2,000 | 2,981 |
| Premises and equipment expenditures | (4,956) | (5,084) | (7,775) |
| Proceeds from bank owned life insurance | 2,705 | 44,043 | 69,765 |
| Net cash provided by (used in) investing activities | 979,484 | (52,776) | 329,518 |
| Financing Activities | |||
| Net change in deposits | (325,235) | (64,241) | (192,881) |
| Proceeds from borrowings | 140,296 | 512,759 | 866,099 |
| Repayment of borrowings | (1,132,392) | (563,523) | (654,157) |
| Net change in repurchase agreements | (1,444) | (46,118) | (1,841) |
|---|---|---|---|
| Proceeds from issuance of subordinated notes, net | 98,215 | — | — |
| Repayment of subordinated notes | (56,500) | — | (3,132) |
| Net settlement of share awards | (4,089) | (1,371) | (1,221) |
| Proceeds from sale of SERP shares | — | 4,146 | — |
| Proceeds from issuance of common stock, net | 97,950 | — | — |
| Dividends paid on common stock | (29,488) | (28,328) | (28,311) |
| Net cash used in financing activities | (1,212,687) | (186,676) | (15,444) |
| Net Change in Cash and Cash Equivalents | (153,972) | (233,084) | 403,010 |
| Cash and Cash Equivalents, Beginning of Period | 293,431 | 526,515 | 123,505 |
| Cash and Cash Equivalents, End of Period | $139,459 | $293,431 | $526,515 |
| Additional Supplemental Information | |||
| Interest paid | $131,538 | $178,891 | $119,692 |
| Income taxes paid | 27,407 | 10,710 | 2,137 |
| Transfer of loans to other real estate and repossessed assets | 3,643 | 2,690 | 3,299 |
| Transfer of held to maturity securities to available for sale | 1,798,361 | — | — |
| Transfer of LHI to HFS | 184,092 | 87,638 | — |
| Redemption of cash value of life insurance, not settled | — | — | 43,962 |
| Cash dividends declared, not paid | 8,228 | 7,081 | 7,156 |
| Qualified affordable housing investments obtained in exchange for funding commitments | — | — | 14,491 |
See notes to consolidated financial statements
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