Loading...
•
Sep 30, 2023
Horizon Bancorp Q3 2023 Earnings Report
Horizon Bancorp's third quarter performance demonstrated solid growth and a shift to higher-yielding assets, with a stable core deposit funding base and promising non-interest income results. The company remained dedicated to disciplined expense management and deploying resources into new revenue opportunities.
Key Takeaways
Horizon Bancorp reported a net income of $16.2 million, or $0.37 per diluted share, for the third quarter of 2023. The company saw loan growth, resilient deposits, and expanded non-interest income. Asset quality remained sound with low levels of delinquent and non-performing loans.
Net income was $16.2 million or $0.37 per diluted share.
Loans totaled $4.36 billion, increasing by 8.2% annualized during the quarter.
Deposits remained resilient, totaling $5.7 billion.
Non–interest income expanded to $11.8 million primarily due to higher mortgage–related revenue.