Horizon Bancorp, Inc. (HBNC)

Horizon Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	279.91	244.54	173.5	155.73	174.26	183.63
Interest Income on Investments	66.74	67.76	62.53	38.38	25.71	24.7
Total Interest Income	346.65	312.31	236.03	194.11	199.97	208.33
Interest Paid on Deposits	114.6	85.86	17.81	7.87	18.56	33.69
Interest Paid on Borrowings	54.31	50.7	18.71	10.44	15.88	13.85
Total Interest Expense	168.91	136.56	36.52	18.31	34.44	47.54
Net Interest Income	177.73	175.74	199.52	175.81	165.53	160.79
Net Interest Income Growth (YoY)	-2.49%	-11.92%	13.49%	6.21%	2.95%	19.49%
Trust Income	5.43	5.08	5.38	7.42	9.15	8.58
Gain (Loss) on Sale of Investments	-31.57	-32.05	-	0.91	4.3	-0.08
Other Non-Interest Income	20.76	22.42	20.07	17.9	14.8	15
Total Non-Interest Income	11.48	12	44.21	54.59	63.81	42.67
Non-Interest Income Growth (YoY)	-73.39%	-72.86%	-19.01%	-14.45%	49.54%	24.77%
Revenues Before Loan Losses	189.21	187.74	243.73	230.4	229.34	203.46
Provision for Loan Losses	5.49	2.46	-1.82	-2.08	20.75	1.98
Revenue	183.72	185.28	245.55	232.48	208.59	201.49
Revenue Growth (YoY)	-18.08%	-24.54%	5.62%	11.45%	3.53%	21.48%
Salaries and Employee Benefits	80.73	77.22	77.81	72.23	69.15	63.57
Occupancy Expenses	13.21	13.36	13.32	12.54	12.81	12.16
Federal Deposit Insurance	5.04	3.88	2.56	2.38	1.86	0.25
Amortization of Goodwill & Intangibles	3.46	3.61	3.7	3.64	3.72	-
Selling, General & Administrative	30.05	27.8	25.74	22.45	20.88	20.22
Other Non-Interest Expense	20.75	20.42	20.08	20.15	17.61	25.84
Total Non-Interest Expense	153.23	146.28	143.2	133.39	126.03	122.03
EBT Excluding Unusual Items	30.49	39	102.35	99.09	82.56	79.45
Asset Writedown	-	-	2.59	2.58	-4.45	-0.19
Pretax Income	30.49	39	105.58	102.45	78.37	79.84
Income Tax Expense	9.39	11.02	12.18	15.36	9.87	13.3
Net Income	21.1	27.98	93.41	87.09	68.5	66.54
Net Income to Common	21.1	27.98	93.41	87.09	68.5	66.54
Net Income Growth	-71.63%	-70.04%	7.25%	27.14%	2.95%	25.27%
Basic Shares Outstanding	44	44	44	44	44	43
Diluted Shares Outstanding	44	44	44	44	44	44
Shares Change (YoY)	0.61%	0.33%	-0.58%	-0.38%	1.21%	13.25%
EPS (Basic)	0.48	0.64	2.14	1.99	1.56	1.53
EPS (Diluted)	0.48	0.64	2.14	1.98	1.55	1.53
EPS Growth	-71.59%	-70.09%	8.08%	27.74%	1.32%	10.86%
Dividend Per Share	0.640	0.640	0.630	0.560	0.480	0.460
Dividend Growth	0%	1.59%	12.50%	16.67%	4.35%	15.00%
Effective Tax Rate	30.80%	28.25%	11.53%	14.99%	12.59%	16.66%

Source: S&P Capital IQ. Banks template. Financial Sources.