Horizon Bancorp terminates LOI to sell mortgage warehouse business; Q4 guidance unchanged

HORIZON BANCORP INC /IN/

On Nov 22, 2024, Horizon and prospective purchaser terminated non-binding LOI to sell mortgage warehouse business.
Deal was expected to generate gain-on-sale, neutral to net income; termination does not change Q4 2024 guidance.
Horizon may continue pursuing sale to other parties but cannot predict terms or if transaction will occur.

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