Horizon Bancorp reports Q3 EPS 37c, consensus 36c

Reports Q3 tangible book value per share $12.34. Reports Q3 CET1 capital ratio 11.58%. Reports Q3 net charge-offs .02%. “Horizon’s third quarter performance demonstrated our diversified lending platform’s ability to produce solid growth while successfully continuing to shift our loan mix to higher yielding assets. This strategy paired with the strength of our credit culture will continue to add value over time,” president and CEO Thomas Prame said. “Horizon’s core deposit funding base remained stable and our business units provided another promising quarter of non-interest income results. Recognizing the near term headwinds facing the banking industry, Horizon remains dedicated to disciplined expense management and prudently deploying resources into new revenue opportunities that can quickly realize positive momentum.”