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Horizon Bancorp ( (HBNC) ) has shared an update.
Horizon Bancorp, Inc. reported its fourth-quarter 2024 financial results, highlighting a more profitable core business and the completion of key strategic initiatives. Despite a net loss of $10.9 million due to a $39.1 million pre-tax loss on investment securities, the company achieved a 22.4% annualized growth rate in commercial loans and improved its net interest margin by 31 basis points. The company also completed the sale of its mortgage warehouse line of business on January 17, 2025, which is expected to be neutral to operating income but generate a gain in the first quarter of 2025. These measures, alongside restructuring efforts, aim to enhance efficiency and shareholder returns in 2025.
More about Horizon Bancorp
Horizon Bancorp, Inc., the parent company of Horizon Bank, operates in the financial services industry, focusing on providing banking products and services. The company is headquartered in Michigan City, Indiana, and is listed on NASDAQ under the ticker HBNC.
YTD Price Performance: 0.0%
Average Trading Volume: 167,738
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $697.3M
For an in-depth examination of HBNC stock, go to TipRanks’ Stock Analysis page.
