secwatch.observer — SEC 8-K summary
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Issuer:     HORIZON BANCORP INC /IN/ (HBNC)
CIK:        0000706129
Form:       8-K
Filed at:   2025-09-15T23:59:59+00:00
Accession:  0000706129-25-000157
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Horizon Bancorp completes balance sheet repositioning; securities sale loss $299.1M vs expected $309.1M
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- Closed public offering of 7.14M shares for net proceeds $98.6M; issued $100M subordinated notes at 7.00% fixed rate through 2030.
- Sold ~$1.7B securities with realized pre-tax loss $299.1M (vs $309.1M expected); prepaid $700M FHLB advances with penalty $12.7M (vs $15.6M).
- Redeployed ~$600M into investment securities yielding 5.27% tax-equivalent; reducing non-core deposits >$125M in Q3.
- Signed LOI to sell ~$190M indirect auto loans by end of Sep; redeeming $56.5M higher-cost sub notes on Oct 1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706129/000070612925000157/0000706129-25-000157-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706129/000070612925000157/hbnc-20250915.htm
  HTML page:      https://secwatch.observer/filing/0000706129-25-000157

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