NASDAQ : HBNC
Horizon Bancorp, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 20.7 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.06B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 309.66M | 309.87M | 291.07M | 244.54M | 173.50M | 155.73M |
| Interest Income on Investments | 45.85M | 52.90M | 65.41M | 67.76M | 62.53M | 38.38M |
| Total Interest Income | 355.52M | 362.78M | 356.48M | 312.31M | 236.03M | 194.11M |
| Interest Paid on Deposits | 83.02M | 98.61M | 115.04M | 85.86M | 17.81M | 7.87M |
| Interest Paid on Borrowings | 18.13M | 34.69M | 52.84M | 50.70M | 18.71M | 10.44M |
| Total Interest Expense | 101.15M | 133.29M | 167.88M | 136.56M | 36.52M | 18.30M |
| Net Interest Income | 254.37M | 229.48M | 188.60M | 175.74M | 199.52M | 175.81M |
| Trust Income | 6.08M | 5.50M | 5.39M | 5.08M | 5.38M | 7.42M |
| Gain (Loss) on Sale of Investments | -7.00K | -299.54M | -39.14M | -32.05M | 914.00K | |
| Other Non-Interest Income | 20.73M | 19.56M | 19.56M | 22.42M | 22.66M | 17.90M |
| Total Non-Interest Income | 46.65M | -256.45M | 2.97M | 12.00M | 46.81M | 54.59M |
| Revenues Before Loan Losses | 301.02M | -26.97M | 191.57M | 187.74M | 246.32M | 230.40M |
| Provision for Loan Losses | 4.24M | 1.90M | 5.39M | 2.46M | -1.82M | -2.08M |
| Revenue | 296.78M | -28.86M | 186.19M | 185.28M | 248.14M | 232.48M |
| Salaries and Employee Benefits | 91.65M | 88.12M | 83.66M | 77.22M | 77.81M | 72.23M |
| Occupancy Expenses | 15.31M | 13.87M | 13.38M | 13.36M | 13.32M | 12.54M |
| Federal Deposit Insurance | 3.96M | 5.10M | 5.03M | 3.88M | 2.56M | 2.38M |
| Amortization of Goodwill & Intangibles | 2.68M | 3.04M | 3.40M | 3.61M | 3.70M | 3.64M |
| Selling, General & Administrative | 29.58M | 31.08M | 33.94M | 29.00M | 25.73M | 22.45M |
| Other Non-Interest Expense | 23.54M | 30.78M | 19.42M | 19.21M | 20.07M | 20.15M |
| Total Non-Interest Expense | 166.72M | 171.99M | 158.84M | 146.28M | 143.20M | 133.39M |
| EBT Excluding Unusual Items | 130.06M | -200.85M | 27.35M | 39.00M | 104.94M | 99.09M |
| Asset Writedown | 2.58M | |||||
| Pretax Income | 130.06M | -201.15M | 27.35M | 39.00M | 105.58M | 102.45M |
| Income Tax Expense | 23.40M | -50.67M | -8.08M | 11.02M | 12.18M | 15.36M |
| Net Income | 106.66M | -150.48M | 35.43M | 27.98M | 93.41M | 87.09M |
| Net Income to Common | 106.66M | -150.48M | 35.43M | 27.98M | 93.41M | 87.09M |
| Basic Shares Outstanding | 51.05M | 46.49M | 43.70M | 43.63M | 43.57M | 43.80M |
| Diluted Shares Outstanding | 51.23M | 46.49M | 44.06M | 43.84M | 43.70M | 43.96M |
| EPS (Basic) | 2.09 | -3.24 | 0.81 | 0.64 | 2.14 | 1.99 |
| EPS (Diluted) | 2.09 | -3.24 | 0.80 | 0.64 | 2.14 | 1.98 |
| Dividend Per Share | 0.64 | 0.64 | 0.64 | 0.64 | 0.63 | 0.56 |
| Effective Tax Rate | 17.99% | 28.25% | 11.53% | 14.99% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 89.33M | 139.46M | 293.43M | 112.99M | 123.50M | 593.51M |
| Investment Securities | 978.39M | 397.84M | 2.11B | 2.79B | 2.37B | 2.06B |
| Trading Asset Securities | 3.98M | 17.64M | 29.05M | 26.71M | 44.88M | 15.46M |
| Mortgage-Backed Securities | 494.17M | 14.54M | 140.88M | 657.85M | 656.13M | |
| Total Investments | 982.37M | 909.65M | 2.16B | 2.96B | 3.07B | 2.74B |
| Gross Loans | 5.01B | 4.88B | 4.86B | 4.42B | 4.16B | 3.66B |
| Allowance for Loan Losses | -52.31M | -51.30M | -51.98M | -50.03M | -50.46M | -54.29M |
| Other Adjustments to Gross Loans | -6.80M | -14.90M | ||||
| Net Loans | 4.95B | 4.83B | 4.80B | 4.37B | 4.11B | 3.60B |
| Property, Plant & Equipment | 92.13M | 92.81M | 93.86M | 94.58M | 92.68M | 93.44M |
| Goodwill | 155.21M | 155.21M | 155.21M | 155.21M | 155.21M | 154.57M |
| Other Intangible Assets | 5.21M | 7.18M | 10.22M | 13.63M | 17.24M | 20.94M |
| Loans Held for Sale | 3.52M | 9.78M | 67.60M | 1.42M | 5.81M | 12.58M |
| Accrued Interest Receivable | 27.34M | 29.73M | 39.75M | 38.71M | 35.29M | 26.14M |
| Other Real Estate Owned & Foreclosed | 4.45M | 1.69M | 424.00K | 1.51M | 2.14M | 3.56M |
| Other Long-Term Assets | 270.48M | 220.15M | 135.72M | 157.79M | 233.94M | 142.67M |
| Total Assets | 6.59B | 6.44B | 7.80B | 7.94B | 7.87B | 7.41B |
| Interest Bearing Deposits | 4.37B | 3.63B | 3.99B | 3.92B | 4.03B | 4.14B |
| Institutional Deposits | 562.64M | 549.36M | 632.85M | 551.37M | 299.54M | |
| Non-Interest Bearing Deposits | 1.11B | 1.08B | 1.06B | 1.12B | 1.28B | 1.36B |
| Total Deposits | 5.48B | 5.28B | 5.60B | 5.66B | 5.86B | 5.80B |
| Short-Term Borrowings | 23.99M | 102.31M | 118.73M | 160.05M | 315.29M | 149.13M |
| Accrued Interest Payable | 6.49M | 12.89M | 11.14M | 22.25M | 5.38M | 2.23M |
| Long-Term Debt | 248.96M | 108.09M | 67.93M | 522.30M | 353.85M | 115.21M |
| Federal Home Loan Bank Debt, Long-Term | 150.07M | 1.13B | 750.26M | 575.38M | 525.48M | |
| Trust Preferred Securities | 57.84M | 57.69M | 57.48M | 57.26M | 57.03M | 56.78M |
| Pension & Post-Retirement Benefits | 11.00M | 10.70M | 10.60M | 10.10M | ||
| Other Long-Term Liabilities | 73.20M | 30.89M | 40.79M | 34.06M | 20.35M | 36.85M |
| Total Liabilities | 5.89B | 5.75B | 7.04B | 7.22B | 7.20B | 6.69B |
| Additional Paid-In Capital | 461.30M | 459.24M | 363.76M | 356.40M | 354.19M | 352.12M |
| Retained Earnings | 310.02M | 255.00M | 436.12M | 429.02M | 429.38M | 363.74M |
| Comprehensive Income & Other | -72.01M | -26.00M | -36.30M | -66.61M | -106.20M | 7.34M |
| Total Common Equity | 699.30M | 688.25M | 763.58M | 718.81M | 677.38M | 723.21M |
| Shareholders' Equity | 699.30M | 688.25M | 763.58M | 718.81M | 677.38M | 723.21M |
| Total Liabilities & Equity | 6.59B | 6.44B | 7.80B | 7.94B | 7.87B | 7.41B |
| Total Debt | 330.78M | 418.16M | 1.37B | 1.49B | 1.30B | 846.60M |
| Net Cash (Debt) | -116.50M | -261.07M | -1.05B | -934.44M | -1.13B | -232.86M |
| Net Cash Per Share | -2.27 | -5.62 | -23.85 | -21.31 | -25.87 | -5.30 |
| Filing Date Shares Outstanding | 51.11M | 51.23M | 44.01M | 44.11M | 43.58M | 43.56M |
| Total Common Shares Outstanding | 51.11M | 51.22M | 44.23M | 43.65M | 43.57M | 43.55M |
| Book Value Per Share | 13.68 | 13.44 | 17.27 | 16.47 | 15.55 | 16.61 |
| Tangible Book Value | 538.88M | 525.86M | 598.15M | 549.98M | 504.93M | 547.70M |
| Tangible Book Value Per Share | 10.54 | 10.27 | 13.52 | 12.60 | 11.59 | 12.58 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -150.48M | 35.43M | 27.98M | 93.41M | 87.09M | |
| Depreciation & Amortization | 12.40M | 12.30M | 11.97M | 13.10M | 13.88M | |
| Gain (Loss) on Sale of Assets | -69.00K | -450.00K | -300.00K | -722.00K | -85.00K | |
| Gain (Loss) on Sale of Investments | 304.04M | 47.55M | 42.12M | 12.15M | 9.38M | |
| Total Asset Writedown | -2.59M | -2.58M | ||||
| Provision for Credit Losses | 1.90M | 5.39M | 2.46M | -1.82M | -2.08M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -334.00K | -64.17M | 7.49M | 10.75M | 15.91M | |
| Accrued Interest Receivable | 10.01M | -1.04M | -3.42M | -9.16M | -4.22M | |
| Change in Other Net Operating Assets | -3.71M | 395.00K | -8.47M | -18.78M | 6.68M | |
| Other Operating Activities | -93.42M | -18.30M | -7.03M | -417.00K | 217.00K | |
| Operating Cash Flow | 79.23M | 6.37M | 88.94M | 94.38M | 106.35M | |
| Capital Expenditures | -4.96M | -5.08M | -7.78M | -6.43M | -1.44M | |
| Cash Acquisitions | 622.18M | |||||
| Investment in Securities | 937.73M | 382.66M | 537.84M | -466.60M | -1.45B | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | 35.00M | -457.07M | -265.46M | -503.48M | 480.03M | |
| Other Investing Activities | 11.71M | 26.73M | 64.91M | -43.42M | 652.00K | |
| Investing Cash Flow | 979.48M | -52.78M | 329.52M | -1.02B | -344.85M | |
| Short-Term Debt Issued | 7.07M | 21.34M | ||||
| Long-Term Debt Issued | 238.51M | 512.76M | 866.10M | 1.18B | 244.55M | |
| Total Debt Issued | 238.51M | 512.76M | 866.10M | 1.19B | 265.89M | |
| Short-Term Debt Repaid | -1.44M | -46.12M | -1.84M | |||
| Long-Term Debt Repaid | -1.19B | -563.52M | -657.29M | -755.61M | -76.37M | |
| Total Debt Repaid | -1.19B | -609.64M | -659.13M | -755.61M | -76.37M | |
| Net Debt Issued (Repaid) | -951.83M | -96.88M | 206.97M | 430.21M | 189.52M | |
| Issuance of Common Stock | 97.95M | 4.15M | 145.00K | 1.06M | ||
| Repurchase of Common Stock | -7.61M | |||||
| Common Dividends Paid | -29.49M | -28.33M | -28.31M | -27.77M | -24.77M | |
| Total Dividends Paid | -29.49M | -28.33M | -28.31M | -27.77M | -24.77M | |
| Net Increase (Decrease) in Deposit Accounts | -325.24M | -64.24M | -192.88M | 54.78M | 425.45M | |
| Other Financing Activities | -4.09M | -1.37M | -1.22M | -1.82M | -1.35M | |
| Financing Cash Flow | -1.21B | -186.68M | -15.44M | 455.55M | 582.30M | |
| Net Cash Flow | -153.97M | -233.08M | 403.01M | -470.00M | 343.80M | |
| Free Cash Flow | 74.28M | 1.28M | 81.16M | 87.95M | 104.91M | |
| Free Cash Flow Margin | 0.69% | 43.80% | 35.44% | 45.13% | ||
| Free Cash Flow Per Share | 1.60 | 0.03 | 1.85 | 2.01 | 2.39 | |
| Cash Interest Paid | 131.54M | 178.89M | 119.69M | 33.37M | 18.78M | |
| Cash Income Tax Paid | 27.41M | 10.71M | 2.14M | 802.00K | 1.65M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.08B | 868.65M | 704.25M | 624.61M | 657.10M | 907.41M |
| Last Close Price | 21.21 | 16.37 | 14.92 | 12.62 | 12.57 | 16.81 |
| PE Ratio | 10.17 | 19.88 | 22.32 | 7.04 | 10.42 | |
| PS Ratio | 3.65 | -30.10 | 3.78 | 3.37 | 2.65 | 3.90 |
| PB Ratio | 1.55 | 1.26 | 0.92 | 0.87 | 0.97 | 1.25 |
| P/FCF Ratio | 11.52 | 11.70 | 548.48 | 7.70 | 7.47 | 8.65 |
| P/OCF Ratio | 11.02 | 10.96 | 110.59 | 7.02 | 6.96 | 8.53 |
| Debt / Equity Ratio | 0.47 | 0.61 | 1.80 | 2.07 | 1.92 | 1.17 |
| Debt / FCF Ratio | 5.63 | 1,070.32 | 18.36 | 14.80 | 8.07 | |
| Net Debt / Equity Ratio | 0.17 | 0.38 | 1.38 | 1.30 | 1.67 | 0.32 |
| Net Debt / FCF Ratio | 3.52 | 818.59 | 11.51 | 12.85 | 2.22 | |
| Return on Equity (ROE) | 15.68% | -20.73% | 4.78% | 4.01% | 13.34% | 12.31% |
| Return on Assets (ROA) | 1.60% | -2.11% | 0.45% | 0.35% | 1.22% | 1.31% |
| Earnings Yield | 9.84% | -17.32% | 5.03% | 4.48% | 14.21% | 9.60% |
| FCF Yield | 8.68% | 8.55% | 0.18% | 12.99% | 13.38% | 11.56% |
| Dividend Yield | 3.02% | 3.77% | 4.02% | 4.47% | 4.18% | 2.69% |
| Payout Ratio | 30.68% | 79.96% | 101.18% | 29.72% | 28.44% | |
| Buyback Yield / Dilution | -14.73% | -5.50% | -0.50% | -0.33% | 0.58% | 0.38% |
| Total Shareholder Return | -11.71% | -1.72% | 3.52% | 4.14% | 4.76% | 3.07% |