Horizon Bancorp Q2 2024 EPS $0.32; NIM expands to 2.64%

HORIZON BANCORP INC /IN/

2024-Q2 EPS reported $0.64

Net income $14.1M ($0.32 diluted EPS) vs $18.8M ($0.43) a year ago.
Net interest income $45.3M, third consecutive rise; NIM FTE 2.64% vs 2.50% linked Q1.
Loans HFI up 4.4% to $4.8B; commercial loan growth $154.8M; deposits +0.9% to $5.6B.
Non-accrual loans fell $0.8M to $18.3M; net charge-offs annualized 0.05%.
Corrected prior capital classification: sub notes reclassified from Tier 1 to Tier 2; still well-capitalized.

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