Horizon Bancorp reports Q1 EPS $0.32, net interest margin expands to 2.50%

HORIZON BANCORP INC /IN/

2024-Q1 EPS reported $0.32

Net income of $14.0M ($0.32 diluted EPS) vs net loss of $25.2M in Q4 2023.
Net interest margin improved to 2.50% from 2.43% linked quarter; net interest income $43.3M.
Total loans grew 18.2% annualized to $4.62B; commercial loans up 11.2% annualized.
Deposits down 1.5% to $5.58B; credit metrics solid with net charge-offs 0.01%.
Non-interest expense fell $2.2M QoQ to $37.1M; tangible book value $12.65 per share.

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 0.95

HORIZON BANCORP INC /IN/ reported the three months ended March 31, 2024 results: net income $14.0 million, EPS $0.32 per diluted share.

Period: the three months ended March 31, 2024
Net income: $14.0 million
EPS: $0.32 per diluted share
Result: reported results

Exact text from the filing

Horizon Bancorp, Inc. (“Horizon” or the “Company”), the parent company of Horizon Bank (the “Bank”), announced its unaudited financial results for the three months ended March 31, 2024. Net income for the first quarter of 2024 was $14.0 million, or $0.32 per diluted share compared to a net loss of $25.2 million, or $0.58, in the linked fourth quarter of 2023.

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Source: SEC EDGAR

accession 0000706129-24-000046

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