Horizon Bancorp Q3 EPS $0.56, NIM Holds at 4.37%, Q4 NII Guided to $66-67M
HBNC sits 28% above its 52-week low of $15.315.
Summary
Horizon earned $0.56 per share in Q3 2026, up from $0.49 in Q2, on an 11.6% jump in net interest income and a 4.37% margin. Q4 guidance calls for $66-67M of net interest income assuming one more rate hike in December.
Key Events · Earnings and Guidance · HBNC
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Q3 EPS $0.56, Up 14% Sequentially
Net income of $28.7M, or $0.56 per diluted share, versus $24.9M ($0.49) in Q2 2026 and a $222.0M loss ($(4.69)) in Q3 2025.
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Net Interest Income Up 11.6% YoY
NII of $65.2M with FTE NIM steady at 4.37%, up from 3.52% a year ago; ROA 1.73% and return on tangible common equity 20.03%.
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Q4 Guidance: $66-67M NII
Management guides Q4 non-FTE NII to $66-67M with modest NIM expansion, full-year non-interest income in the mid-$40M range and non-interest expense in the low-to-mid $160M range, assuming one more 25 bp hike in early December.
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Tangible Book Value Slips on AOCI
Tangible book value per share fell to $10.54 from $11.06 as accumulated other comprehensive loss widened to $72.0M from $24.0M; CET1 still rose 44 bps to 11.53%.
Analysis · HBNC · Finance
Horizon delivered a clean quarter, with EPS of $0.56 rising about 14% sequentially from $0.49 and swinging from a $(4.69) loss a year ago, when a $299M securities loss gutted non-interest income. The engine is the margin: FTE NIM held at 4.37%, up 85 bps year over year, and net interest income grew 11.6% to $65.2M. Credit is quiet, with 0.10% annualized net charge-offs and NPAs at 0.68% of assets, while capital builds as CET1 rose 44 bps to 11.53%. The one soft spot is book value: tangible book value per share fell to $10.54 from $11.06 as unrealized AOCI losses widened by roughly $48M, a rate-driven mark rather than a credit problem. Management's Q4 guide of $66-67M NII and continued modest margin expansion assumes one more 25 bp hike in early December, and that assumption is the main thing that could break the outlook.
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In the 30 days to Oct 22, 2026, 29.4% of the 1563 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, HBNC was trading at $19.60 on NASDAQ in the Finance sector, with a market capitalization of approximately $1B. The 52-week trading range was $15.32 to $21.04. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.