Horizon Bancorp, Inc. (HBNC) Financial Statements (2024 and earlier)

Company Profile

Business Address 515 FRANKLIN STREET
MICHIGAN CITY, IN 46360
State of Incorp. IN
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments126,317593,508249,71198,83158,49276,441
Cash and cash equivalents126,317593,508249,71198,83158,49276,441
Receivables4,128,0193,582,4673,835,4313,609,0362,998,940 
Total current assets:4,254,3364,175,9754,085,1423,707,8673,057,43276,441
Noncurrent Assets
Operating lease, right-of-use asset  3,5003,5003,500
Property, plant and equipment92,67793,44192,41692,20974,33175,529
Intangible assets, net (including goodwill)189,689196,454197,148177,917130,270132,282
Goodwill155,211154,572151,238151,238119,880119,880
Intangible assets, net (excluding goodwill)34,47841,88245,91026,67910,39012,402
Total noncurrent assets:282,366293,395293,064273,626204,601207,811
Other undisclosed assets3,335,8162,905,5331,508,4081,265,336984,6553,680,051
TOTAL ASSETS:7,872,5187,374,9035,886,6145,246,8294,246,6883,964,303
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 137,871130,798109,46290,94152,11661,097
Total current liabilities: 137,871130,798109,46290,94152,11661,097
Noncurrent Liabilities
Other undisclosed liabilities7,057,2726,520,8965,084,9364,499,8653,702,5803,446,128
Total liabilities:7,195,1436,651,6945,194,3984,590,8063,754,6963,507,225
Equity
Equity, attributable to parent677,375723,209692,216656,023491,992457,078
Additional paid in capital354,188352,122362,945379,853276,101275,059
Accumulated other comprehensive income (loss)(106,198)7,34527,8526,432(8,144)(3,551)
Retained earnings429,385363,742301,419269,738224,035185,570
Total equity:677,375723,209692,216656,023491,992457,078
TOTAL LIABILITIES AND EQUITY:7,872,5187,374,9035,886,6145,246,8294,246,6883,964,303

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues243,198219,158232,099217,540172,781142,810
Net investment income236,033199,995205,378208,332166,168128,483
Cost of revenue(2,345) (20,751)(1,976)(2,906)(2,470)
Provision for loan, lease, and other losses   (20,751)(1,976)(2,906)
Amortization of mortgage servicing rights (msrs)(2,345)     
Financial services costs(2,470)
Gross profit:240,853219,158211,348215,564169,875140,340
Operating expenses(29,435)(24,719)(24,444)(22,583)(19,224)(69,314)
Operating income:211,418194,439186,904192,981150,65171,026
Nonoperating income (expense)1,548(189)1,0811,4501,2471,429
Investment income, nonoperating(1,046)(2,283)(1,162)(740)(665)(368)
Bank owned life insurance income2,5942,0942,2432,1901,9121,797
Interest and debt expense(36,515)(18,305)(34,438)(47,541)(31,599)(16,383)
Income from continuing operations before equity method investments, income taxes:176,451175,945153,547146,890120,29956,072
Other undisclosed loss from continuing operations before income taxes(70,867)(73,498)(75,178)(67,049)(56,739)(8,119)
Income from continuing operations before income taxes:105,584102,44778,36979,84163,56047,953
Income tax expense(12,176)(15,356)(9,870)(13,303)(10,443)(14,836)
Income from continuing operations:93,40887,09168,49966,53853,11733,117
Income before gain (loss) on sale of properties:87,09168,49966,53853,11733,117
Net income available to common stockholders, basic:93,40887,09168,49966,53853,11733,117
Other undisclosed net loss available to common stockholders, diluted    (133,076)  
Net income (loss) available to common stockholders, diluted:93,40887,09168,499(66,538)53,11733,117

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:93,40887,09168,49966,53853,11733,117
Other comprehensive income (loss)31,3696,409(6,493)(4,438)1,012(636)
Comprehensive income:124,77793,50062,00662,10054,12932,481
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(144,912)(26,916)27,91319,014(4,839)2,729
Comprehensive income (loss), net of tax, attributable to parent:(20,135)66,58489,91981,11449,29035,210

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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