HORIZON BANCORP INC /IN/ has recently released its 10-Q report. Horizon Bancorp, Inc. is the bank holding company for Horizon Bank, which provides commercial and retail banking services in Indiana and Michigan. Its business includes deposit accounts, commercial and consumer lending, trust and wealth services, treasury management, and related banking and insurance products.
For the quarter ended March 31, 2026, Horizon reported net income available to common shareholders of $26.2 million, up from $23.9 million a year earlier, while diluted earnings per share were $0.51 versus $0.54. Net interest income rose to $62.2 million from $52.3 million, helped by a drop in interest expense to $24.4 million from $36.9 million even as total interest income slipped to $86.7 million from $89.2 million. Credit loss expense declined to $391,000 from $1.4 million.
Non-interest income fell to $11.2 million from $16.5 million, with other income dropping to $967,000 from $7.3 million and no loss on sale of investment securities in the latest quarter versus a $407,000 loss a year earlier. Non-interest expense increased to $40.7 million from $39.3 million, led by salaries and employee benefits of $23.2 million, net occupancy expense of $4.2 million, and data processing expense of $3.4 million. Income before taxes improved to $32.3 million from $28.1 million, and income tax expense increased to $6.2 million from $4.1 million.
Total assets were $6.56 billion at March 31, 2026, up from $6.44 billion at December 31, 2025. Cash and cash equivalents rose to $259.1 million from $139.5 million, including interest-bearing deposits in banks of $190.7 million versus $72.6 million. Loans, net of allowance for credit losses, were $4.83 billion, essentially flat from $4.83 billion at year-end.
Deposits increased to $5.42 billion from $5.28 billion, with non-interest-bearing deposits at $1.14 billion and interest-bearing deposits at $4.28 billion. Borrowings declined to $225.8 million from $248.6 million. Stockholders’ equity increased to $699.0 million from $688.3 million, while accumulated other comprehensive loss widened to $33.7 million from $26.0 million.
On the cash flow statement, operating activities provided $20.8 million, compared with $15.2 million a year earlier. Investing activities used $17.2 million, versus providing $38.9 million in the prior-year quarter, while financing activities provided $116.0 million after using $177.9 million in the prior-year period. Horizon paid common dividends of $8.2 million in the quarter, equal to $0.16 per share. Today the company's shares have moved -0.57% to a price of $18.455. If you want to know more, read the company's complete 10-Q report here.
