Horizon Bancorp Q3 net loss $222M on balance sheet repositioning; NIM expands to 3.52%

HORIZON BANCORP INC /IN/

2025-Q3 EPS reported -$3.94

Net loss of $222.0M ($4.69 diluted EPS) vs Q2 net income $20.6M ($0.47); includes $299M securities loss, $7.7M auto portfolio loss, $12.7M prepayment penalty.
Net interest income $58.4M (+5.5% LQ); NIM (FTE) expanded to 3.52% from 3.23% LQ, eighth consecutive quarterly expansion.
Loans HFI decreased $163M LQ; sold $176M indirect auto portfolio, but commercial loans grew $57.9M (7.0% annualized).
Tangible book value/share fell to $9.76 from $14.32 LQ; total assets down $939.6M to $6.7B; capital ratios remain strong (Tier 1 11.29%).
Credit quality stable: net charge-offs 0.07% annualized; ACL to loans 1.04%; non-performing assets to assets 0.53%.

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