HORIZON BANCORP, INC. HBNC Income Statement

Horizon bancorp, inc. (HBNC)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest Income
Loans receivable
183,631	147,478	112,329	91,569	75,373	62,435	62,229	59,727	50,340	54,738	57,836
Investment securities
Investment securities - taxable
12,606	10,621	9,086	10,039	8,721	9,344	8,441	8,833	10,201	9,605	10,885
Investment securities - tax exempt
12,095	8,069	7,068	4,921	4,494	4,426	4,216	3,968	4,073	4,148	3,942
Total interest income
208,332	166,168	128,483	106,529	88,588	76,205	74,886	72,528	64,614	68,491	72,663
Interest Expense
Deposits
33,690	18,225	7,901	6,616	5,559	5,257	5,672	6,206	8,346	10,711	14,792
Borrowed funds
10,672	11,009	6,178	11,807	6,286	5,956	5,821	6,166	6,334	8,476	11,696
Subordinated debentures
3,179	2,365	2,304	2,114	2,009	2,009	2,010	1,950	1,821	1,688	1,406
Total interest expense
47,541	31,599	16,383	20,537	13,854	13,222	13,503	14,322	16,501	20,875	27,894
Net Interest Income
160,791	134,569	112,100	85,992	74,734	62,983	61,383	58,206	48,113	47,616	44,769
Credit loss expense
1,976	2,906	2,470	1,842	3,162	3,058	1,920	3,524	5,282	11,554	13,603
Net Interest Income after Credit Loss Expense
158,815	131,663	109,630	84,150	71,572	59,925	59,463	54,682	42,831	36,062	31,166
Non-interest Income
Service charges on deposit accounts
9,959	7,762	6,383	5,762	4,807	4,085	3,989	3,470	3,164	3,607	3,858
Wire transfer fees
653	612	658	806	633	557	697	892	619	756	921
Interchange fees
7,655	5,715	5,104	4,165	3,623	4,649	4,056	3,122	2,594	2,247	1,864
Fiduciary activities
8,580	7,827	7,894	6,621	5,637	4,738	4,337	3,997	3,983	3,979	3,336
Debt and Equity Securities, Gain (Loss)
-75	-443	38	1,836	189	988	374	2	1,777	533	795
Gain on sale of mortgage loans
9,208	6,613	7,906	11,675	10,055	8,395	8,794	14,123	6,449	7,538	6,107
Mortgage servicing income net of impairment
1,914	2,120	1,583	1,908	993	805	1,521	234	267	-565	-134
Increase in cash value of bank owned life insurance
2,190	1,912	1,797	1,643	1,249	1,047	1,035	1,025	891	803	720
Death benefit on bank owned life insurance
580	154	-	-	145	-	-	-	-	-	-
Other income
2,394	2,141	1,773	1,039	1,103	1,013	1,103	466	102	1,008	389
Total non-interest income
43,058	34,413	33,136	35,455	28,434	26,277	25,906	27,331	20,299	19,906	17,856
Non-interest Expense
Salaries and employee benefits
65,206	56,623	51,375	44,013	37,712	32,682	31,032	28,383	22,875	22,090	19,204
Net occupancy expenses
12,157	10,482	9,535	8,322	6,400	5,607	4,984	4,529	4,267	4,195	3,796
Data processing
8,480	6,816	5,914	5,367	4,251	3,663	3,045	2,717	2,006	1,925	1,582
Professional fees
1,946	1,926	2,490	2,752	2,070	1,731	1,668	1,990	1,497	1,701	1,413
Outside services and consultants
8,152	5,271	7,018	7,863	5,735	3,250	2,412	2,313	1,741	1,694	1,471
Loan expense
8,633	6,341	4,970	5,582	5,379	4,770	4,668	4,276	3,586	3,208	2,611
FDIC insurance expense
252	1,444	1,046	1,559	1,499	1,175	1,089	1,108	1,220	1,635	2,126
Other losses
-740	-665	-368	-684	-432	70	-807	-619	-2,383	-504	-510
Other expense
16,466	12,948	12,097	10,750	8,747	9,138	8,740	8,089	6,572	5,619	5,099
Total non-interest expense
122,032	102,516	94,813	86,892	72,225	61,946	58,445	54,024	46,147	42,571	37,812
Income Before Income Taxes
79,841	63,560	47,953	32,713	27,781	24,256	26,924	27,989	16,983	13,397	11,210
Income Tax Expense (Benefit)
13,303	10,443	14,836	8,801	7,232	6,155	7,048	8,446	4,186	2,942	2,070
Net Income
-	-	-	23,912	20,549	18,101	19,876	19,543	12,797	10,455	9,140
Preferred stock dividend
-	-	-	42	125	133	370	481	1,325	1,406	1,402
Net Income Available to Common Shareholders
66,538	53,117	33,117	23,870	20,424	17,968	19,506	19,062	11,472	9,049	7,738
Basic Earnings Per Share (in USD per share)
1.53	1.39	0.96	0.80	1.30	1.32	2.26	2.39	1.55	1.23	1.60
Diluted Earnings Per Share (in USD per share)
1.53	1.38	0.95	0.79	1.26	1.27	2.17	2.30	1.51	1.21	1.58