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Jun 30, 2021
Horizon Bancorp Q2 2021 Earnings Report
Horizon achieved strong earnings, increased non-interest income, stable net interest income, lower deposit costs and strong asset quality metrics.
Key Takeaways
Horizon Bancorp announced strong second quarter financial results, with net income growing to a record $22.2 million, up 8.6% from the linked quarter and 51.5% from the year–ago period. Diluted earnings per share (“EPS”) of $0.50.
Net income grew to a record $22.2 million, up 8.6% from the linked quarter and 51.5% from the year–ago period.
Pre–tax, pre–provision net income grew to a second–quarter record $24.5 million, up 0.9% from the linked quarter and 3.2% from the year–ago period.
Total non–interest income grew to $15.2 million, up 9.6% from the linked quarter and 36.7% from the year–ago period, due to favorable impact of mortgage production, bank owned life insurance, banking fees and fiduciary activities.
Horizon recorded a provision release of $1.5 million and maintained solid asset quality metrics at period end, including non–performing loans declining 10.9% during the quarter to $22.3 million, or 0.63% of total loans
Revenue by Segment
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