secwatch.observer — SEC 8-K summary
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Issuer:     HORIZON BANCORP INC /IN/ (HBNC)
CIK:        0000706129
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0000706129-23-000031
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Horizon Bancorp receives NASDAQ delisting notice for late 10-K filing; cites material weaknesses in internal controls
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- NASDAQ notice due to failure to timely file 2022 Form 10-K by March 1, 2023; company miscalculated public float as accelerated vs large accelerated filer.
- Company has 60 days to submit a compliance plan to NASDAQ; believes it will regain compliance after filing 10-K.
- Identified material weaknesses in internal controls, including accounting revisions for loan participations, dealer reserves, securities classification, and public float calculation.
- Company expects no material changes to previously reported financial results from the January 25, 2023 Earnings Release.
- First-time failure to timely file a periodic report in company history.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706129/000070612923000031/0000706129-23-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706129/000070612923000031/hbnc-20230306.htm
  HTML page:      https://secwatch.observer/filing/0000706129-23-000031

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