Horizon Bancorp Q2 net income rises to $18.8M ($0.43 EPS); deposits hold at $5.71B

HORIZON BANCORP INC /IN/

2023-Q2 EPS reported $0.85

Net income of $18.8M, $0.43 diluted EPS, up from $0.42 in Q1 2023; down from $0.57 YoY.
Net interest margin improved to 2.69% from 2.67% linked quarter; NII of $46.2M included $1.5M swap termination fee.
Total loans $4.27B (+2.2% annualized QoQ); deposits stable at $5.71B despite shift to time deposits.
Tangible book value per share grew to $12.34 (+$0.17 in Q2); regulatory capital ratios exceed well-capitalized minimums.
Non-interest income rose to $11.0M on higher interchange and securities gains; expense ratio 1.86% of avg assets.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

HORIZON BANCORP INC /IN/ reported second quarter 2023 results: net income $18.8 million, EPS $0.43 per diluted share.

Period: second quarter 2023
Net income: $18.8 million
EPS: $0.43 per diluted share
Result: reported results

Exact text from the filing

Net income for the second quarter of 2023 was $18.8 million, or $0.43 diluted earnings per share, compared to $18.2 million, or $0.42, for the linked quarter and $24.9 million, or $0.57, for the prior year period.

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Source: SEC EDGAR

accession 0000706129-23-000101

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