Jan. 22 at 9:16 PM
$HBNC Horizon Bancorp reports Q4 EPS (25c) vs. 41c in Q3
Reports Q4 Net interest income increased for the fifth consecutive quarter to
$53.1M for the three months ended December 31 compared to
$46.9M for the three months ended September 30 . The net interest margin, on a fully taxable equivalent FTE basis , also expanded for the fifth consecutive quarter, to 2.97% compared with 2.66% for the three months ended September 30 . ."We are very pleased with Horizon's fourth quarter results, which displayed a significantly more profitable core business model and the successful completion of several major initiatives aimed at continuing this positive trajectory throughout 2025.
During the quarter, the team exited lower-yielding securities at a favorable time, and capitalized on the opportunity to redeploy this liquidity into higher yielding loans and to exit higher-cost funding. These actions, combined with an impressive 22.4% annualized growth rate in commercial loans, increased the margin by 31 basis points from the third quarter. Additionally, the team completed its previously communicated fourth quarter initiatives aimed at restructuring its expense base to create greater efficiency in 2025", President and CEO, Thomas Prame said. "The core franchise continues to have strong momentum, and we are positioned well to create greater returns for our shareholders in 2025."
