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Dec 31, 2021
Horizon Bancorp Q4 2021 Earnings Report
Announced record earnings and fourth quarter results, demonstrating strong profitability, higher net interest income, growing commercial and consumer loans, and disciplined expense management.
Key Takeaways
Horizon Bancorp reported a net income of $21.4 million, or $0.49 per diluted share, for the fourth quarter of 2021. Net interest income grew to a record $50.0 million for the quarter, up 7.4% from the third quarter of 2021 and 14.6% from the fourth quarter of 2020. Commercial loans, excluding PPP and acquired loans, grew by 2.4% during the quarter to a record $2.13 billion at period end. Consumer loans, excluding acquired loans, grew by 1.9% during the fourth quarter to a record $727.3 million at period end.
Net income totaled $21.4 million, or $0.49 per diluted share in the fourth quarter.
Net interest income grew to a record $50.0 million for the quarter, up 7.4% from the third quarter of 2021 and 14.6% from the fourth quarter of 2020.
Commercial loans, excluding PPP and acquired loans, grew by 2.4% during the quarter to a record $2.13 billion at period end.
Consumer loans, excluding acquired loans, grew by 1.9% during the fourth quarter to a record $727.3 million at period end.
Revenue by Segment
Forward Guidance
Horizon is well–positioned for a rising interest rate environment and believes that a 200 basis point increase in the federal funds rate would increase net interest income by approximately $20.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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