secwatch.observer — SEC 8-K summary
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Issuer:     HORIZON BANCORP INC /IN/ (HBNC)
CIK:        0000706129
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0000706129-23-000101
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706129/000070612923000101/0000706129-23-000101-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706129/000070612923000101/hbnc-20230726.htm
  HTML page:      https://secwatch.observer/filing/0000706129-23-000101

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