secwatch.observer — SEC 8-K summary
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Issuer:     HORIZON BANCORP INC /IN/ (HBNC)
CIK:        0000706129
Form:       8-K
Filed at:   2025-01-22T23:59:59+00:00
Accession:  0000706129-25-000006
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Horizon Bancorp Q4 net loss $0.25/dil share; NIM expands to 2.97%, commercial loans grow 22.4% annualized
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- Net loss of $10.9M ($0.25 diluted loss) vs net income of $18.2M ($0.41) in Q3 2024; loss driven by $39.1M pre-tax loss on securities repositioning.
- Net interest income rose to $53.1M from $46.9M in Q3; NIM (FTE) expanded 31 bps to 2.97%, aided by loan mix shift and lower-cost deposit funding.
- Total loans increased $108.6M to $4.91B; commercial loans grew at a 22.4% annualized rate, partially offset by planned run-off of indirect auto loans.
- Sale of mortgage warehouse line closed Jan 17, 2025; expected to be roughly neutral to operating income with a gain in Q1 2025. Deposit base shifted: time deposits down $131.5M.
- Credit quality stable: net charge-offs annualized 0.05%, non-performing assets at 0.35% of total assets. Book value per share $17.46, tangible book $13.68.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706129/000070612925000006/0000706129-25-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706129/000070612925000006/hbnc-20250122.htm
  HTML page:      https://secwatch.observer/filing/0000706129-25-000006

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