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Mar 31, 2021
Horizon Bancorp Q1 2021 Earnings Report
Horizon Bancorp reported strong profitability and modest provision expense, with assets exceeding $6 billion.
Key Takeaways
Horizon Bancorp reported a net income of $20.4 million, or $0.46 diluted earnings per share, for the first quarter of 2021. The company's pre-tax, pre-provision net income reached a record $24.2 million. Horizon saw improvements in asset quality metrics and a decrease in the cost of interest-bearing liabilities. The company also announced an 8.3% increase in its quarterly cash dividend.
Net income was $20.4 million, or $0.46 diluted earnings per share.
Pre-tax, pre-provision net income reached a record $24.2 million.
Non-interest expense was $32.2 million, representing 2.20% of average assets.
Net interest income was $42.5 million.
Horizon Bancorp
Horizon Bancorp
Horizon Bancorp Revenue by Segment
Revenue by Segment
Gain on sale of mortgage loans Revenue
CapyFin.com Forward Guidance
Horizon anticipates improving demand from customer investments in plant and equipment, logistics and distribution, infrastructure, and other financing needs in a recovery economy. The bank is well-positioned to capitalize on organic and strategic growth opportunities within its attractive Midwestern markets.