Horizon Bancorp Q1 net income $23.9M ($0.54 EPS); NIM expands to 3.04%

HORIZON BANCORP INC /IN/

2025-Q1 EPS reported $0.54

Net income $23.9M ($0.54 diluted EPS); Q4 2024 net loss $10.9M (-$0.25); Q1 2024 $14.0M ($0.32).
Net interest margin (FTE) 3.04%, up from 2.97% Q4 and 2.50% YoY; sixth consecutive quarter of expansion.
Commercial loan growth of $103.3M (14% annualized); total loans HFI up 5% linked quarter annualized.
Completed sale of mortgage warehouse business for $7.0M pre-tax gain.
Expenses down $5.6M from Q4; net charge-offs remain low at 0.07% annualized.

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