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
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments231,438137,820126,317112,473112,647125,000
Cash and cash equivalents231,438137,820126,317112,473112,647125,000
Receivables4,233,2384,213,1834,128,0193,988,6163,913,4003,687,618
Total current assets:4,464,6764,351,0034,254,3364,101,0894,026,0473,812,618
Noncurrent Assets
Property, plant and equipment95,05391,81492,67792,35693,77893,075
Intangible assets, net (including goodwill)170,644171,547189,689173,375173,662174,588
Goodwill155,211155,211155,211155,211154,572154,572
Intangible assets, net (excluding goodwill)15,43316,33634,47818,16419,09020,016
Total noncurrent assets:265,697263,361282,366265,731267,440267,663
Other undisclosed assets3,232,9803,283,6313,335,8163,351,8753,347,4493,340,047
TOTAL ASSETS:7,963,3537,897,9957,872,5187,718,6957,640,9367,420,328
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt   137,871   
Total current liabilities:   137,871   
Noncurrent Liabilities
Other undisclosed liabilities7,254,1107,195,4367,057,2727,073,7026,983,0716,742,878
Total liabilities:7,254,1107,195,4367,195,1437,073,7026,983,0716,742,878
Equity
Equity, attributable to parent709,243702,559677,375644,993657,865677,450
Additional paid in capital354,953354,035354,188352,837352,412351,522
Accumulated other comprehensive loss(97,919)(92,032)(106,198)(123,121)(93,064)(54,772)
Retained earnings452,209440,556429,385415,277398,517380,700
Total equity:709,243702,559677,375644,993657,865677,450
TOTAL LIABILITIES AND EQUITY:7,963,3537,897,9957,872,5187,718,6957,640,9367,420,328

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues77,87372,58364,54564,47160,07354,109
Net investment income76,86871,79863,34963,03057,57252,082
Cost of revenue(300)(247)(2,345) (240) 
Provision for loan, lease, and other losses     (240) 
Amortization of mortgage servicing rights (msrs)(300)(247)    
Gross profit:77,57372,33662,20064,47159,83354,109
Operating expenses(7,801)(7,668)(10,559)(6,384)(6,080)(6,412)
Operating income:69,77264,66851,64158,08753,75347,697
Nonoperating income881760633416157342
Investment income, nonoperating(134)(221)(118)(398)(362)(168)
Bank owned life insurance income1,015981751814519510
Interest and debt expense(30,708)(26,561)(18,405)(9,635)(4,564)(3,911)
Income from continuing operations before equity method investments, income taxes:39,94538,86733,86948,86849,34644,128
Other undisclosed loss from continuing operations before income taxes(19,730)(18,776)(10,055)(23,034)(20,512)(17,026)
Income from continuing operations before income taxes:20,21520,09123,81425,83428,83427,102
Income tax expense(1,452)(1,863)(2,649)(2,013)(3,975)(3,539)
Income from continuing operations:18,76318,22821,16523,82124,85923,563
Income before gain (loss) on sale of properties:23,82124,85923,563
Net income available to common stockholders, diluted:18,76318,22821,16523,82124,85923,563

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:18,76318,22821,16523,82124,85923,563
Other comprehensive income (loss)1,565(3,882)(4,518)8,40010,39817,089
Comprehensive income:20,32814,34616,64732,22135,25740,652
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(7,452)18,04821,441(38,457)(48,690)(79,206)
Comprehensive income (loss), net of tax, attributable to parent:12,87632,39438,088(6,236)(13,433)(38,554)

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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