Horizon Bancorp reports Q2 EPS 43c, consensus 37c

Reports Q2 Book value per common share $16.25 vs. $16.11 in the previous quarter. “Horizon’s favorable Q2 earnings reflect the strength of our diversified business model across our retail, commercial and wealth platforms,” President and CEO Thomas M. Prame said. “Our seasoned and granular deposit base performed well, maintaining a measured approach to funding costs while navigating a highly competitive market and shifting client demand to interest bearing products. These efforts paired well with our strategy of focusing loan production on higher yielding categories, resulting in improved yields and spread income. In the second quarter, we also posted strong non-interest income growth, with the active engagement of our clients in card spending and mortgage banking services. The positive results of our core revenue drivers were complimented by our consistent credit quality strength and our long standing expense management discipline.”