secwatch.observer — SEC 8-K summary
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Issuer:     HORIZON BANCORP INC /IN/ (HBNC)
CIK:        0000706129
Form:       8-K
Filed at:   2024-01-24T23:59:59+00:00
Accession:  0000706129-24-000008
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706129/000070612924000008/0000706129-24-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706129/000070612924000008/hbnc-20240124.htm
  HTML page:      https://secwatch.observer/filing/0000706129-24-000008

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