Horizon Bancorp Q2 Net Income Hits $24.9M, NIM Expands to 4.37%
HBNC sits 36% above its 52-week low of $14.835.
Summary
Horizon Bancorp reported Q2 net income of $24.9 million, or $0.49 per share, missing estimates due to a previously disclosed $3.1 million legal charge. Net interest margin expanded to 4.37% from 4.29% in Q1, supported by strong loan growth and low deposit costs. Loans grew $83 million and deposits $125 million in the first half, aligning with mid-single-digit organic growth targets. Profitability metrics remained strong with a 1.54% return on assets and 18.05% return on tangible equity, while net charge-offs were just 0.05%. The results confirm positive momentum and may support further multiple expansion with shares trading near a 52-week high.
At the time of this announcement, HBNC was trading at $20.21 on NASDAQ in the Finance sector, with a market capitalization of approximately $1B. The 52-week trading range was $14.84 to $20.66. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.