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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.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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