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Horizon Bancorp, Inc. operates as the bank holding company for Horizon Bank that provides commercial and retail banking services to individuals and corporate clients in Indiana and Michigan in the United States. The company offers checking, savings, money market, certificates of deposit, and time deposit accounts, as well as non-interest and interest-bearing demand deposits. It also provides commercial loans, residential real estate loans, mortgage warehouse loans, and consumer loans; home equity loans and lines; auto loans; personal loans and lines; business loans and lines; SBA loans; public fund, medical practice, and franchise financing; and equipment finance solutions. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; debit and credit cards; treasury management; and remote deposit, merchant processing, online payment portal, lockbox, smart safe, ACH origination, online bill pay, wire transfer, and positive and reverse positive pay services, as well as sells various life insurance products. Further, it provides online and mobile banking; health savings accounts; wealth management, financial planning, investment management, and insurance services; retirement services, including individual retirement accounts (IRAs), business IRAs, and employee benefit plans; and estate planning and settlement services. Horizon Bancorp, Inc. was founded in 1873 and is headquartered in Michigan City, Indiana.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $-31M | - | $-150M | $74M | -21.9% | -116.7% | -524.7% |
| 2024 | $187M | - | $35M | $1M | 4.6% | 2.6% | 26.6% |
| 2023 | $183M | - | $28M | $81M | 3.9% | -24.3% | -70.0% |
| 2022 | $242M | - | $93M | $88M | 13.8% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 241.56 | 182.76 | 187.50 | -31.31 |
| Operating Revenue | - | 241.56 | 182.76 | 187.50 | -31.31 |
| Selling General And Administration | - | 82.84 | 84.69 | 93.28 | 94.84 |
| Interest Income | - | 236.03 | 312.30 | 356.48 | 362.78 |
| Interest Expense | - | 36.52 | 136.56 | 167.88 | 133.29 |
| Net Interest Income | - | 199.52 | 175.74 | 188.60 | 229.48 |
| Pretax Income | - | 105.58 | 39 | 27.35 | -201.15 |
| Tax Provision | - | 12.18 | 11.02 | -8.08 | -50.67 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | -0.08 |
| Net Income Continuous Operations | - | 93.41 | 27.98 | 35.43 | -150.48 |
| Net Income From Continuing And Discontinued Operation | - | 93.41 | 27.98 | 35.43 | -150.48 |
| Net Income From Continuing Operation Net Minority Interest | - | 93.41 | 27.98 | 35.43 | -150.48 |
| Net Income | - | 93.41 | 27.98 | 35.43 | -150.48 |
| Net Income Common Stockholders | - | 93.41 | 27.98 | 35.43 | -150.48 |
| Net Income Including Noncontrolling Interests | - | 93.41 | 27.98 | 35.43 | -150.48 |
| Normalized Income | - | 93.41 | 27.98 | 35.43 | -150.25 |
| Diluted NI Availto Com Stockholders | - | 93.41 | 27.98 | 35.43 | -150.48 |
| Basic Average Shares | - | 43.57 | 43.62 | 43.74 | 46.46 |
| Diluted Average Shares | - | 43.70 | 43.84 | 44.29 | 46.64 |
| Reconciled Depreciation | - | 13.10 | 11.97 | 12.30 | 12.40 |
| Total Unusual Items | - | - | 0 | 0 | -0.30 |
| Total Unusual Items Excluding Goodwill | - | - | 0 | 0 | -0.30 |
| Special Income Charges | - | - | 0 | 0 | -0.30 |
| Restructuring And Mergern Acquisition | - | - | 0 | 0 | 0.30 |
| Gain On Sale Of Security | - | 0 | -32.05 | -39.14 | -299.54 |
| Depreciation Amortization Depletion Income Statement | - | 3.70 | 3.61 | 3.40 | 3.04 |
| Depreciation And Amortization In Income Statement | - | 3.70 | 3.61 | 3.40 | 3.04 |
| General And Administrative Expense | - | 82.84 | 84.69 | 93.28 | 94.84 |
| Other Gand A | 18.41 | - | - | - | - |
| Salaries And Wages | - | 80.28 | 80.81 | 88.24 | 89.74 |
| Insurance And Claims | - | 2.56 | 3.88 | 5.03 | 5.10 |
| Amortization | - | 3.70 | 3.61 | 3.40 | 3.04 |
| Amortization Of Intangibles Income Statement | - | 3.70 | 3.61 | 3.40 | 3.04 |
| Occupancy And Equipment | - | 13.32 | 13.36 | 13.38 | 13.87 |
| Professional Expense And Contract Services Expense | - | 12.69 | 12.59 | 17.30 | 16.87 |
| Other Non Interest Expense | - | 25.23 | 27.06 | 27.41 | 39.02 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Horizon Bancorp, Inc.this co. | HBNC | $961M | -6.39 | 1.40 | -21.9% | - |
| Southside Bancshares, Inc. | SBSI | $980M | 14.15 | 1.16 | 8.2% | - |
| Burford Capital Limited | BUR | $975M | 15.58 | 0.40 | 2.6% | - |
| Capitol Federal Financial, Inc. | CFFN | $973M | 14.30 | 0.93 | 6.5% | - |
| MetroCity Bankshares, Inc. | MCBS | $960M |
| - |
| - |
| - |
| - |
| - |
| 14.01 |
| 1.76 |
| 12.6% |
| - |
| Trupanion, Inc. | TRUP | $949M | 48.82 | 2.47 | 5.1% | 17.88 |
| Equity Bancshares, Inc. | EQBK | $946M | 41.62 | 1.29 | 3.1% | - |
| Esquire Financial Holdings, Inc. | ESQ | $938M | 18.46 | 3.24 | 17.5% | - |
| Ategrity Specialty Insurance Company Holdings | ASIC | $934M | 12.62 | 1.52 | 12.0% | - |
| Peer Median | - | 14.94 | 1.41 | 7.3% | 17.88 | |