Horizon Bancorp Inc. (HBNC) Financial Statements (2025 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)

3/31/2025
MRQ
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments293,431528,720126,317593,508249,71198,831
Cash and cash equivalent293,431528,720126,317593,508249,71198,831
Receivables   4,128,0193,582,4673,835,4313,609,036
Financing receivable, accrued interest, after allowance for credit loss23,700   
Financing receivable, excluding accrued interest, after allowance for credit loss4,391,853  
Total current assets:293,4314,944,2734,254,3364,175,9754,085,1423,707,867
Noncurrent Assets
Operating lease, right-of-use asset    3,5003,5003,500
Property, plant and equipment93,86494,58392,67793,44192,41692,209
Intangible assets, net (including goodwill)175,657182,463189,689196,454197,148177,917
Goodwill155,211155,211155,211154,572151,238151,238
Intangible assets, net (excluding goodwill)20,44627,25234,47841,88245,91026,679
Total noncurrent assets:269,521277,046282,366293,395293,064273,626
Other undisclosed assets7,238,1942,719,1663,335,8162,905,5331,508,4081,265,336
TOTAL ASSETS:7,801,1467,940,4857,872,5187,374,9035,886,6145,246,829
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 89,912136,030137,871130,798109,46290,941
Total current liabilities: 89,912136,030137,871130,798109,46290,941
Noncurrent Liabilities
Liabilities, other than long-term debt 14,900     
Investment program, proportional amortization method, elected, commitment 14,900     
Total noncurrent liabilities: 14,900     
Other undisclosed liabilities6,932,7527,085,6437,057,2726,520,8965,084,9364,499,865
Total liabilities:7,037,5647,221,6737,195,1436,651,6945,194,3984,590,806
Equity
Equity, attributable to parent763,582718,812677,375723,209692,216656,023
Additional paid in capital363,761356,400354,188352,122362,945379,853
Accumulated other comprehensive income (loss)(36,301)(66,609)(106,198)7,34527,8526,432
Retained earnings436,122429,021429,385363,742301,419269,738
Total equity:763,582718,812677,375723,209692,216656,023
TOTAL LIABILITIES AND EQUITY:7,801,1467,940,4857,872,5187,374,9035,886,6145,246,829

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

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues360,698316,628243,198219,158232,099217,540
Net investment income356,483312,305236,033199,995205,378208,332
Cost of revenue(1,971)(1,032)(2,345) (20,751)(1,976)
Provision for loan, lease, and other losses    (20,751)(1,976)
Amortization of mortgage servicing rights (msrs)(1,971)(1,032)(2,345)   
Gross profit:358,727315,596240,853219,158211,348215,564
Operating expenses(30,373)(31,238)(29,435)(24,719)(24,444)(22,583)
Operating income:328,354284,358211,418194,439186,904192,981
Nonoperating income (expense)1012,6581,548(189)1,0811,450
Investment income, nonoperating(1,199)(1,051)(1,046)(2,283)(1,162)(740)
Bank owned life insurance income1,3003,7092,5942,0942,2432,190
Interest and debt expense  (136,561)(36,515)(18,305)(34,438)(47,541)
Income from continuing operations before equity method investments, income taxes:328,455150,455176,451175,945153,547146,890
Other undisclosed loss from continuing operations before income taxes(301,105)(111,456)(70,867)(73,498)(75,178)(67,049)
Income from continuing operations before income taxes:27,35038,999105,584102,44778,36979,841
Income tax expense (benefit)8,079(11,018)(12,176)(15,356)(9,870)(13,303)
Income from continuing operations:35,42927,98193,40887,09168,49966,538
Income before gain (loss) on sale of properties:87,09168,49966,538
Net income available to common stockholders, basic:35,42927,98193,40887,09168,49966,538
Other undisclosed net loss available to common stockholders, diluted      (133,076)
Net income (loss) available to common stockholders, diluted:35,42927,98193,40887,09168,499(66,538)

Comprehensive Income ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income:35,42927,98193,40887,09168,49966,538
Other comprehensive income (loss)(8,055)(10,524)31,3696,409(6,493)(4,438)
Comprehensive income:27,37417,457124,77793,50062,00662,100
Other undisclosed comprehensive income (loss), net of tax, attributable to parent38,36350,113(144,912)(26,916)27,91319,014
Comprehensive income (loss), net of tax, attributable to parent:65,73767,570(20,135)66,58489,91981,114

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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