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Horizon Bancorp Q1 2025 Earnings Report
Horizon Bancorp, Inc. reported its first quarter 2025 financial results, showing continued positive momentum in core financial metrics and management's commitment to deliver long-term value to its shareholders.
Key Takeaways
Horizon Bancorp, Inc. reported a net income of $23.9 million, or $0.54 per diluted share, for the first quarter of 2025. This marks a significant improvement from a net loss of $10.9 million in the previous quarter and an increase from $14.0 million in the first quarter of 2024. The company saw its net interest margin expand for the sixth consecutive quarter to 3.04%, strong organic commercial loan growth, and a more efficient expense base.
Net income for Q1 2025 was $23.9 million, a significant increase from a net loss of $10.9 million in Q4 2024 and $14.0 million in Q1 2024.
Diluted earnings per share for Q1 2025 were $0.54, up from a loss of $0.25 in Q4 2024 and earnings of $0.32 in Q1 2024.
Net interest margin expanded to 3.04% in Q1 2025, marking the sixth consecutive quarter of expansion.
Total loans held for investment increased 5% linked quarter annualized, driven by strong organic commercial loan growth of $103.3 million.
Revenue by Segment
Forward Guidance
Horizon Bancorp, Inc. did not provide specific forward-looking financial guidance in this report. However, management expressed confidence in continued positive momentum and commitment to delivering long-term shareholder value.
Positive Outlook
- Continued positive momentum in core financial metrics.
- Commitment to deliver long term value to shareholders.
- Sixth consecutive quarter of margin expansion, now above 3%.
- Strong loan growth with exceptional credit metrics.
- Core funding base continues to deliver value in an uncertain economic environment.
Challenges Ahead
- Decline in average interest earning asset balances compared to prior quarter.
- Two fewer days in the quarter compared to the prior quarter impacting net interest income.
- Interest recoveries on specific commercial loans in Q4 2024 did not recur in Q1 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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