---
schema_version: "secwatch.filing_event.v1"
accession: "0000706129-24-000008"
form_type: "8-K"
ticker: "HBNC"
cik: "0000706129"
company_name: "HORIZON BANCORP INC /IN/"
filed_at: "2024-01-24T23:59:59+00:00"
generated_at: "2026-06-06T19:33:14.831896+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Horizon Bancorp reports Q4 net loss of $25.2M on balance sheet restructuring; adjusted EPS $0.33

## Summary
- Net loss of $25.2M ($0.58 diluted EPS) due to $38.7M after-tax balance sheet restructuring (sale of $382.7M securities, surrender of $112.8M BOLI).
- Adjusted net income $14.1M ($0.33 diluted EPS) vs $16.2M ($0.37) in Q3 2023.
- Commercial loans grew $85.7M (13.1% annualized); total loans $4.42B up 6.1% YoY.
- Net interest margin improved to 2.43% from 2.41% linked quarter.
- Deposits stable at $5.66B; non-performing loans 0.44%; net charge-offs 0.02%.

## SEC filing metadata
- accession: 0000706129-24-000008
- form_type: 8-K
- ticker: HBNC
- cik: 0000706129
- company_name: HORIZON BANCORP INC /IN/
- filed_at: 2024-01-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/706129/000070612924000008/0000706129-24-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/706129/000070612924000008/hbnc-20240124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000706129-24-000008
- JSON: https://secwatch.observer/filing/0000706129-24-000008.json
- Plain text: https://secwatch.observer/filing/0000706129-24-000008.txt

## Key facts
- Earnings Releases
  HORIZON BANCORP INC /IN/ reported three and twelve months ended December 31, 2023 results: net income $25.2 million, EPS $0.58 per diluted share.
  - Period: three and twelve months ended December 31, 2023
  - Net income: $25.2 million
  - EPS: $0.58 per diluted share
  - Result: reported results
  source text: For the quarter, the Company recorded a net loss of $25.2 million, or $0.58 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/706129/000070612924000008/0000706129-24-000008-index.htm
- Earnings Releases
  HORIZON BANCORP INC /IN/ reported three months ended December 31, 2023 results: net income $14.1 million, EPS $0.33 per diluted share.
  - Period: three months ended December 31, 2023
  - Net income: $14.1 million
  - EPS: $0.33 per diluted share
  - Result: reported results
  source text: Excluding the $38.7 million after-tax impact of the balance sheet repositioning and approximately $705,000 in extraordinary expenses associated with previously disclosed staffing changes, the launch of Horizon Equipment Finance and the expansion of the Bank's treasury management capabilities, adjusted net income was $14.1 million, or $0.33 per diluted share, in the quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/706129/000070612924000008/0000706129-24-000008-index.htm
- Earnings Releases
  HORIZON BANCORP INC /IN/ reported three months ended September 30, 2023 results: net income $16.2 million, EPS $0.37 per diluted share.
  - Period: three months ended September 30, 2023
  - Net income: $16.2 million
  - EPS: $0.37 per diluted share
  - Result: reported results
  source text: This compared to third quarter 2023 net income of $16.2 million, or $0.37 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/706129/000070612924000008/0000706129-24-000008-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.