hD

Income Statement Summary

Horizon Bancorp (HBNC) annual income statement covering fiscal 2020 through 2025, as reported to the SEC.

  • Net Income was -$150.48M in fiscal 2025, after a profit of $35.43M in fiscal 2024.
  • Diluted earnings per share was -$3.24, after a profit of $0.80 in fiscal 2024.
  • Income Before Income Taxes were -$201.15M, after a profit of $27.35M in fiscal 2024.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data
Dec'25Dec'24Dec'23Dec'22Dec'21Dec'20
Interest Income
Interest and fees on loans

309,874

291,069

244,544

173,500

155,732

174,262

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest and fees on loans

309,874

291,069

244,544

173,500

155,732

174,262

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investment securities - taxable

26,299

30,295

34,410

33,202

14,437

8,071

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investment securities - taxable

26,299

30,295

34,410

33,202

14,437

8,071

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investment securities - tax exempt

19,359

25,439

28,384

29,025

23,246

17,213

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Investment securities - tax exempt

19,359

25,439

28,384

29,025

23,246

17,213

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

7,245

9,680

4,967

306

695

422

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other

7,245

9,680

4,967

306

695

422

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total interest income

362,777

356,483

312,305

236,033

194,110

199,968

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total interest income

362,777

356,483

312,305

236,033

194,110

199,968

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest Expense
Deposits

98,607

115,042

85,857

17,809

7,867

18,556

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deposits

98,607

115,042

85,857

17,809

7,867

18,556

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Short and long term borrowings

25,033

44,930

42,478

12,465

4,701

11,430

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Short and long term borrowings

25,033

44,930

42,478

12,465

4,701

11,430

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Subordinated notes

5,201

3,319

3,511

3,522

3,522

1,824

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Subordinated notes

5,201

3,319

3,511

3,522

3,522

1,824

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Junior subordinated debentures issued to capital trusts

4,452

4,588

4,715

2,719

2,215

2,628

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Junior subordinated debentures issued to capital trusts

4,452

4,588

4,715

2,719

2,215

2,628

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total interest expense

133,293

167,879

136,561

36,515

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total interest expense

133,293

167,879

136,561

36,515

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total interest expense

-

-

-

-

18,305

34,438

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total interest expense

-

-

-

-

18,305

34,438

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Interest Income

229,484

188,604

175,744

199,518

175,805

165,530

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Interest Income

229,484

188,604

175,744

199,518

175,805

165,530

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Credit loss expense

1,896

5,389

2,459

-1,816

-2,084

20,751

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Credit loss expense

1,896

5,389

2,459

-1,816

-2,084

20,751

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Credit loss expense (recovery)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Credit loss expense (recovery)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Credit loss expense (recovery)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Credit loss expense (recovery)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Interest Income after Provision for Credit Losses

227,588

183,215

173,285

201,334

177,889

144,779

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Interest Income after Provision for Credit Losses

227,588

183,215

173,285

201,334

177,889

144,779

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-interest Income
Service charges on deposit accounts

13,231

12,940

12,227

11,598

9,192

8,848

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Service charges on deposit accounts

13,231

12,940

12,227

11,598

9,192

8,848

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Wire transfer fees

277

461

448

595

892

1,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Wire transfer fees

277

461

448

595

892

1,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interchange fees

13,599

13,799

12,861

12,402

10,901

9,306

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interchange fees

13,599

13,799

12,861

12,402

10,901

9,306

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Fiduciary activities

5,501

5,394

5,080

5,381

7,419

9,145

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Fiduciary activities

5,501

5,394

5,080

5,381

7,419

9,145

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on sale of investment securities

-299,538

-39,140

-32,052

-

914

4,297

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on sale of investment securities

-299,538

-39,140

-32,052

-

914

4,297

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on sale of mortgage loans

4,799

4,215

4,323

7,165

19,163

26,721

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on sale of mortgage loans

4,799

4,215

4,323

7,165

19,163

26,721

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Mortgage servicing income net of impairment

1,463

1,677

2,708

4,800

2,352

-3,716

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Mortgage servicing income net of impairment

1,463

1,677

2,708

4,800

2,352

-3,716

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase in cash value of bank owned life insurance

1,420

1,300

3,709

2,594

2,094

2,243

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Increase in cash value of bank owned life insurance

1,420

1,300

3,709

2,594

2,094

2,243

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Death benefit on bank owned life insurance

-

-

-

644

783

264

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Death benefit on bank owned life insurance

-

-

-

644

783

264

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other income

2,798

2,325

2,694

2,272

4,242

1,513

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other income

2,798

2,325

2,694

2,272

4,242

1,513

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total non-interest income

-256,450

2,971

11,998

47,451

57,952

59,621

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total non-interest income

-256,450

2,971

11,998

47,451

57,952

59,621

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-interest Expense
Salaries and employee benefits

89,737

88,244

80,809

80,283

74,051

71,082

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Salaries and employee benefits

89,737

88,244

80,809

80,283

74,051

71,082

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net occupancy expenses

13,867

13,376

13,355

13,323

12,541

12,811

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net occupancy expenses

13,867

13,376

13,355

13,323

12,541

12,811

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Data processing

11,884

10,861

11,626

10,567

9,962

9,200

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Data processing

11,884

10,861

11,626

10,567

9,962

9,200

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Professional fees

3,452

2,733

2,645

1,843

2,216

2,433

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Professional fees

3,452

2,733

2,645

1,843

2,216

2,433

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Outside services and consultants

13,422

14,564

9,942

10,850

8,449

7,318

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Outside services and consultants

13,422

14,564

9,942

10,850

8,449

7,318

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loan expense

4,340

4,076

4,980

5,411

5,492

5,218

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loan expense

4,340

4,076

4,980

5,411

5,492

5,218

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

FDIC insurance expense

5,100

5,032

3,880

2,558

2,377

1,855

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

FDIC insurance expense

5,100

5,032

3,880

2,558

2,377

1,855

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Core deposit intangible amortization

3,000

3,400

3,600

3,700

3,644

3,723

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Core deposit intangible amortization

3,000

3,400

3,600

3,700

3,644

3,723

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Merger related expense

305

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Merger related expense

305

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Prepayment Expense

12,680

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Prepayment Expense

12,680

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other losses

-1,336

-1,199

-1,051

-1,046

-2,283

-1,162

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other losses

-1,336

-1,199

-1,051

-1,046

-2,283

-1,162

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other expense

13,124

15,348

14,384

13,618

12,379

11,229

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other expense

13,124

15,348

14,384

13,618

12,379

11,229

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total non-interest expense

172,291

158,836

146,284

143,201

133,394

126,031

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total non-interest expense

172,291

158,836

146,284

143,201

133,394

126,031

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income Before Income Taxes

-201,153

27,350

38,999

105,584

102,447

78,369

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income Before Income Taxes

-201,153

27,350

38,999

105,584

102,447

78,369

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax expense

-50,671

-8,079

11,018

12,176

15,356

9,870

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax expense

-50,671

-8,079

11,018

12,176

15,356

9,870

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Income

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Income

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Preferred stock dividend

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Preferred stock dividend

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Income Available to Common Shareholders

-150,482

35,429

27,981

93,408

87,091

68,499

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Income Available to Common Shareholders

-150,482

35,429

27,981

93,408

87,091

68,499

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic earnings per share (in USD per share)

-3.24

0.81

0.64

2.14

1.99

1.56

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Basic earnings per share (in USD per share)

-3.24

0.81

0.64

2.14

1.99

1.56

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted earnings per share (in USD per share)

-3.24

0.80

0.64

2.14

1.98

1.55

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Diluted earnings per share (in USD per share)

-3.24

0.80

0.64

2.14

1.98

1.55

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx