secwatch.observer — SEC 8-K summary
======================================

Issuer:     HORIZON BANCORP INC /IN/ (HBNC)
CIK:        0000706129
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0000706129-23-000109
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Horizon Bancorp Q3 2023 net income $16.2M ($0.37 EPS); NIM compresses to 2.41%
------------------------------------------------------------------------------

- Diluted EPS of $0.37 vs $0.43 in Q2 2023; net interest income fell $4.1M to $42.1M.
- Net interest margin declined to 2.41% from 2.69% linked quarter; adjusted NIM 2.38%.
- Loans grew 8.2% annualized to $4.36B; commercial loans up 13.1% annualized.
- Deposits stable at $5.7B; non-interest income rose to $11.8M on higher mortgage revenue.
- Tangible book value per share fell $0.34 to $12.00 due to $25.5M hit to AOCI.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706129/000070612923000109/0000706129-23-000109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706129/000070612923000109/hbnc-20231025.htm
  HTML page:      https://secwatch.observer/filing/0000706129-23-000109

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer