HORIZON BANCORP, INC. HBNC Income Statement

Horizon bancorp, inc. (HBNC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest Income
Loans receivable
44,958	46,769	49,455	47,784	39,623	38,517	37,522	36,308	35,131	32,630	28,113	26,795	24,791	25,715	25,313	20,794	19,747	20,233	20,297	17,981	16,862	16,447	16,403	16,631	12,954	14,040	14,843	16,906	16,440	17,341	15,527	13,327	13,532	14,080	12,481	11,891	11,888	14,466	13,212
Investment securities
Investment securities - taxable
2,898	3,054	3,157	3,273	3,122	2,889	2,739	2,563	2,430	2,269	2,167	2,244	2,406	2,336	2,498	2,661	2,544	2,344	2,156	2,067	2,154	2,220	2,339	2,395	2,390	2,288	2,084	2,047	2,022	2,095	2,178	2,246	2,314	2,373	2,542	2,786	2,500	2,431	2,517
Investment securities - tax exempt
3,798	3,575	3,099	2,793	2,628	2,324	2,010	1,870	1,865	1,875	1,790	1,766	1,637	1,338	1,151	1,195	1,237	1,213	1,125	1,079	1,077	1,098	1,109	1,096	1,123	1,111	1,114	1,024	967	1,024	1,014	950	980	1,007	988	1,035	1,043	979	1,078
Total interest income
51,654	53,398	55,711	53,850	45,373	43,730	42,271	40,741	39,426	36,774	32,070	30,805	28,834	29,389	28,962	24,650	23,528	23,790	23,578	21,127	20,093	19,765	19,851	20,122	16,467	17,439	18,041	19,977	19,429	20,460	18,719	16,523	16,826	17,460	16,011	15,712	15,431	17,876	16,807
Interest Expense
Deposits
7,716	8,767	9,109	8,938	6,876	6,411	5,023	3,920	2,871	2,586	1,841	1,721	1,753	1,693	1,875	1,557	1,491	1,524	1,566	1,237	1,232	1,273	1,352	1,355	1,277	1,352	1,395	1,445	1,480	1,403	1,638	1,526	1,639	1,836	1,978	2,195	2,337	2,769	2,706
Borrowed funds
2,238	2,281	2,275	2,495	3,621	2,882	2,876	2,679	2,572	2,150	1,753	1,338	937	6,199	2,128	1,721	1,759	1,539	1,729	1,539	1,479	1,463	1,593	1,478	1,422	1,452	1,465	1,456	1,448	1,531	1,597	1,519	1,519	1,574	1,583	1,600	1,577	2,026	2,338
Subordinated debentures
775	831	864	888	596	601	600	592	572	583	597	548	576	558	549	503	504	505	507	501	496	506	506	501	496	506	512	501	491	523	485	472	470	458	459	454	450	461	395
Total interest expense
10,729	11,879	12,248	12,321	11,093	9,894	8,499	7,191	6,015	5,319	4,191	3,607	3,266	8,450	4,552	3,781	3,754	3,568	3,802	3,277	3,207	3,242	3,451	3,334	3,195	3,310	3,372	3,402	3,419	3,457	3,720	3,517	3,628	3,868	4,020	4,249	4,364	5,256	5,439
Net Interest Income
40,925	41,519	43,463	41,529	34,280	33,836	33,772	33,550	33,411	31,455	27,879	27,198	25,568	20,939	24,410	20,869	19,774	20,222	19,776	17,850	16,886	16,523	16,400	16,788	13,272	14,129	14,669	16,575	16,010	17,003	14,999	13,006	13,198	13,592	11,991	11,463	11,067	12,620	11,368
Credit loss expense
8,600	340	376	896	364	528	1,176	635	567	1,100	710	330	330	623	455	232	532	342	300	1,906	614	-	1,741	339	-	-997	104	729	2,084	1,715	1,041	209	559	838	1,564	1,332	1,548	2,657	3,000
Net Interest Income after Credit Loss Expense
32,325	41,179	43,087	40,633	33,916	33,308	32,596	32,915	32,844	30,355	27,169	26,868	25,238	20,316	23,955	20,637	19,242	19,880	19,476	15,944	16,272	15,545	14,659	16,449	13,272	15,126	14,565	15,846	13,926	15,288	13,958	12,797	12,639	12,754	10,427	10,131	9,519	9,963	8,368
Non-interest Income
Service charges on deposit accounts
2,446	2,766	2,836	2,480	1,877	1,958	2,009	1,907	1,888	-	-	-	1,400	1,452	1,605	1,417	1,288	1,364	1,359	1,085	999	1,048	1,076	1,038	923	1,005	1,083	988	913	993	1,002	763	712	742	802	825	795	921	964
Wire transfer fees
171	179	189	167	118	122	160	180	150	-	-	178	150	218	292	175	121	140	160	182	151	149	151	145	112	135	169	203	190	249	248	213	182	207	167	137	108	211	185
Interchange fees
1,896	1,996	2,138	2,160	1,361	1,422	1,410	1,555	1,328	-	-	1,382	1,176	1,100	1,156	978	931	-470	1,625	1,366	1,102	1,213	1,223	1,254	959	1,007	1,123	1,060	866	895	885	714	628	689	721	639	545	649	560
Fiduciary activities
2,528	2,594	1,834	2,063	2,089	2,229	1,855	1,818	1,925	-	-	-	1,922	1,868	1,653	1,465	1,635	1,604	1,520	1,216	1,297	1,360	1,131	1,199	1,048	1,197	953	1,047	1,140	1,069	971	982	975	1,072	1,016	932	963	934	1,007
Debt and Equity Securities, Gain (Loss)
339	10	0	-100	15	-332	-122	0	11	0	6	-3	35	961	0	767	108	65	0	0	124	-	988	-	-	0	6	0	368	-	2	-	-	23	1,115	365	274	336	131
Gain on sale of mortgage loans
3,473	3,119	2,702	2,078	1,309	1,455	1,839	1,896	1,423	1,988	1,950	2,054	1,914	2,504	3,528	3,529	2,114	2,240	2,794	2,642	2,379	2,294	2,153	2,537	1,411	1,214	1,667	2,807	3,106	4,002	4,436	3,411	2,274	2,463	2,145	1,308	533	2,473	1,674
Mortgage servicing income net of impairment
25	294	444	570	606	697	563	511	349	408	369	359	447	552	409	500	447	268	246	300	179	249	116	233	207	708	348	302	163	329	-355	170	90	-424	-172	99	764	-331	-97
Increase in cash value of bank owned life insurance
554	566	556	555	513	532	503	442	435	451	474	408	464	498	449	351	345	360	374	257	258	266	296	252	233	248	278	257	252	265	300	235	225	230	245	211	205	246	197
Death benefit on bank owned life insurance
233	0	213	367	0	-	-	154	-	-	-	-	-	-	-	-	-	0	0	0	145	-	-	-	-	-	-	-	-	-	-	-	-	-	453	-	-	-	-
Other income
398	410	602	558	824	394	469	469	809	1,160	237	325	51	331	226	84	398	211	322	138	432	159	256	-31	629	173	283	185	462	122	221	67	56	-3	46	-68	127	209	302
Total non-interest income
12,063	11,934	11,514	10,898	8,712	8,477	8,686	8,932	8,318	9,344	8,021	8,212	7,559	9,484	9,318	9,266	7,387	5,782	8,400	7,186	7,066	6,738	7,390	6,627	5,522	5,687	5,910	6,849	7,460	7,924	7,710	6,555	5,142	4,999	6,538	4,448	4,314	5,648	4,923
Non-interest Expense
Salaries and employee benefits
16,591	16,841	16,948	16,951	14,466	14,098	14,343	13,809	14,373	14,289	12,911	12,466	11,709	11,421	12,210	10,317	10,065	10,171	10,652	8,385	8,504	8,691	8,215	8,293	7,483	8,113	7,694	7,721	7,504	7,976	7,905	6,539	5,963	5,963	6,081	5,470	5,361	5,985	5,190
Net occupancy expenses
3,252	3,106	3,131	3,148	2,772	2,501	2,495	2,520	2,966	2,487	2,400	2,196	2,452	2,311	2,174	1,901	1,936	1,751	1,723	1,375	1,551	1,419	1,404	1,360	1,424	1,206	1,172	1,295	1,311	1,313	1,186	976	1,054	1,091	1,056	1,039	1,081	1,036	979
Data processing
2,405	2,235	2,140	2,139	1,966	1,754	1,759	1,607	1,696	1,603	1,502	1,502	1,307	1,512	1,616	1,134	1,105	1,081	1,281	966	923	949	907	937	870	861	766	818	600	834	754	603	526	556	549	494	407	502	570
Professional fees
536	520	335	598	493	612	437	376	501	693	649	535	613	562	612	747	831	474	409	660	527	346	358	419	608	358	357	454	499	507	366	583	534	458	359	331	349	417	530
Outside services and consultants
1,915	1,415	1,552	1,655	3,530	1,536	1,204	1,267	1,264	2,027	2,504	1,265	1,222	1,880	2,686	2,198	1,099	982	3,209	918	626	696	595	1,298	661	778	436	486	712	692	624	526	471	520	454	386	381	374	424
Loan expense
2,099	2,438	2,198	2,048	1,949	1,837	1,722	1,525	1,257	1,398	1,215	1,250	1,107	1,496	1,482	1,409	1,195	1,404	1,351	1,367	1,257	1,281	1,202	1,272	1,015	1,112	1,040	1,402	1,114	1,397	1,311	866	702	1,310	820	694	762	855	771
FDIC insurance expense
150	0	-273	365	160	393	396	345	310	270	270	243	263	280	465	409	405	400	423	339	337	321	313	285	256	268	270	268	283	310	291	250	257	276	254	303	387	423	408
Other losses
-120	-377	-90	-169	-104	-89	-161	-269	-146	-182	-58	-78	-50	-174	-107	-136	-267	-81	-246	-150	45	168	35	-95	-38	-661	-55	-163	72	-118	-309	-162	-30	-1,018	-1,088	-246	-31	-143	-10
Other expense
4,081	3,718	3,939	4,511	4,298	3,297	3,103	3,224	3,324	3,342	3,004	2,953	2,798	2,952	2,730	2,701	2,367	928	2,941	2,490	2,388	2,136	2,394	2,449	2,159	2,253	2,271	2,188	2,028	2,697	2,094	1,675	1,623	1,897	1,652	1,524	1,499	1,522	1,302
Total non-interest expense
31,149	30,650	30,060	31,584	29,738	26,117	25,620	24,942	25,837	26,291	24,513	22,488	21,521	22,588	24,082	20,952	19,270	17,272	22,235	16,650	16,068	15,671	15,353	16,408	14,514	15,610	14,061	14,795	13,979	15,844	14,840	12,180	11,160	13,089	12,313	10,487	10,258	11,257	10,184
Income Before Income Taxes
13,239	22,463	24,541	19,947	12,890	15,668	15,662	16,905	15,325	13,408	10,677	12,592	11,276	7,212	9,191	8,951	7,359	8,390	5,641	6,480	7,270	6,612	6,696	6,668	4,280	5,203	6,414	7,900	7,407	7,368	6,828	7,172	6,621	4,664	4,652	4,092	3,575	4,354	3,107
Income Tax Expense (Benefit)
1,584	3,920	4,004	3,305	2,074	2,535	2,597	2,790	2,521	5,758	2,506	3,520	3,052	1,609	2,589	2,625	1,978	2,215	1,353	1,752	1,912	1,664	1,738	1,890	863	1,088	1,629	2,235	2,096	2,198	1,978	2,262	2,008	1,142	1,235	999	810	1,075	592
Net Income
11,655	-	20,537	16,642	10,816	-	13,065	14,115	12,804	-	8,171	9,072	8,224	5,603	6,602	6,326	5,381	6,175	4,288	4,728	5,358	4,948	4,958	4,778	3,417	4,115	4,785	5,665	5,311	5,170	4,850	4,910	4,613	3,522	3,417	3,093	2,765	3,279	2,515
Preferred stock dividend
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	42	32	31	31	31	30	40	32	31	62	66	96	146	156	63	106	156	62	710	277	276	353	352
Net Income Available to Common Shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	5,603	6,602	6,326	5,339	6,143	4,257	4,697	5,327	4,918	4,918	4,746	3,386	4,053	4,719	5,569	5,165	5,014	4,787	4,804	4,457	3,460	2,707	2,816	2,489	2,926	2,163
Basic Earnings Per Share (in USD per share)
0.26	0.42	0.46	0.37	0.28	0.35	0.34	0.37	0.33	0.08	0.24	0.27	0.37	-0.16	0.31	0.35	0.30	-0.03	0.24	0.51	0.58	-0.12	0.53	0.52	0.39	0.46	0.55	0.65	0.60	0.58	0.56	0.65	0.60	0.10	0.37	0.57	0.51	0.89	0.66
Diluted Earnings Per Share (in USD per share)
0.26	0.42	0.46	0.37	0.28	0.34	0.34	0.37	0.33	0.07	0.24	0.27	0.37	-0.16	0.30	0.35	0.30	-0.02	0.24	0.49	0.55	-0.12	0.51	0.50	0.38	0.45	0.52	0.62	0.58	0.55	0.54	0.62	0.59	0.10	0.36	0.56	0.49	0.88	0.65