HORIZON BANCORP, INC. HBNC Income Statement

Horizon bancorp, inc. (HBNC)

Income statement / TTM

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
188,966	183,631	175,379	163,446	151,970	147,478	141,591	132,182	122,669	112,329	105,414	102,614	96,613	91,569	86,087	81,071	78,258	75,373	71,587	67,693	66,343	62,435	60,028	58,468	58,743	62,229	65,530	66,214	62,635	59,727	56,466	53,420	51,984	50,340	50,726	51,457	0	0	0
Investment securities
Investment securities - taxable
12,382	12,606	12,441	12,023	11,313	10,621	10,001	9,429	9,110	9,086	9,153	9,484	9,901	10,039	10,047	9,705	9,111	8,721	8,597	8,780	9,108	9,344	9,412	9,157	8,809	8,441	8,248	8,342	8,541	8,833	9,111	9,475	10,015	10,201	10,259	10,234	0	0	0
Investment securities - tax exempt
13,265	12,095	10,844	9,755	8,832	8,069	7,620	7,400	7,296	7,068	6,531	5,892	5,321	4,921	4,796	4,770	4,654	4,494	4,379	4,363	4,380	4,426	4,439	4,444	4,372	4,216	4,129	4,029	3,955	3,968	3,951	3,925	4,010	4,073	4,045	4,135	0	0	0
Total interest income
214,613	208,332	198,664	185,224	172,115	166,168	159,212	149,011	139,075	128,483	121,098	117,990	111,835	106,529	100,930	95,546	92,023	88,588	84,563	80,836	79,831	76,205	73,879	72,069	71,924	74,886	77,907	78,585	75,131	72,528	69,528	66,820	66,009	64,614	65,030	65,826	0	0	0
Interest Expense
Deposits
34,530	33,690	31,334	27,248	22,230	18,225	14,400	11,218	9,019	7,901	7,008	7,042	6,878	6,616	6,447	6,138	5,818	5,559	5,308	5,094	5,212	5,257	5,336	5,379	5,469	5,672	5,723	5,966	6,047	6,206	6,639	6,979	7,648	8,346	9,279	10,007	0	0	0
Borrowed funds
9,289	10,672	11,273	11,874	12,058	11,009	10,277	9,154	7,813	6,178	10,227	10,602	10,985	11,807	7,147	6,748	6,566	6,286	6,210	6,074	6,013	5,956	5,945	5,817	5,795	5,821	5,900	6,032	6,095	6,166	6,209	6,195	6,276	6,334	6,786	7,541	0	0	0
Subordinated debentures
3,358	3,179	2,949	2,685	2,389	2,365	2,347	2,344	2,300	2,304	2,279	2,231	2,186	2,114	2,061	2,019	2,017	2,009	2,010	2,009	2,009	2,009	2,009	2,015	2,015	2,010	2,027	2,000	1,971	1,950	1,885	1,859	1,841	1,821	1,824	1,760	0	0	0
Total interest expense
47,177	47,541	45,556	41,807	36,677	31,599	27,024	22,716	19,132	16,383	19,514	19,875	20,049	20,537	15,655	14,905	14,401	13,854	13,528	13,177	13,234	13,222	13,290	13,211	13,279	13,503	13,650	13,998	14,113	14,322	14,733	15,033	15,765	16,501	17,889	19,308	0	0	0
Net Interest Income
167,436	160,791	153,108	143,417	135,438	134,569	132,188	126,295	119,943	112,100	101,584	98,115	91,786	85,992	85,275	80,641	77,622	74,734	71,035	67,659	66,597	62,983	60,589	58,858	58,645	61,383	64,257	64,587	61,018	58,206	54,795	51,787	50,244	48,113	47,141	46,518	0	0	0
Credit loss expense
10,212	1,976	2,164	2,964	2,703	2,906	3,478	3,012	2,707	2,470	1,993	1,738	1,640	1,842	1,561	1,406	3,080	3,162	4,561	4,600	0	-	0	0	-	1,920	4,632	5,569	5,049	3,524	2,647	3,170	4,293	5,282	7,101	8,537	0	0	0
Net Interest Income after Credit Loss Expense
157,224	158,815	150,944	140,453	132,735	131,663	128,710	123,283	117,236	109,630	99,591	96,377	90,146	84,150	83,714	79,235	74,542	71,572	67,237	62,420	62,925	59,925	59,506	59,412	58,809	59,463	59,625	59,018	55,969	54,682	52,148	48,617	45,951	42,831	40,040	37,981	0	0	0
Non-interest Income
Service charges on deposit accounts
10,528	9,959	9,151	8,324	7,751	7,762	0	0	0	-	-	-	5,874	5,762	5,674	5,428	5,096	4,807	4,491	4,208	4,161	4,085	4,042	4,049	3,999	3,989	3,977	3,896	3,671	3,470	3,219	3,019	3,081	3,164	3,343	3,505	0	0	0
Wire transfer fees
706	653	596	567	580	612	0	0	0	-	-	838	835	806	728	596	603	633	642	633	596	557	543	561	619	697	811	890	900	892	850	769	693	619	623	641	0	0	0
Interchange fees
8,190	7,655	7,081	6,353	5,748	5,715	0	0	0	-	-	4,814	4,410	4,165	2,595	3,064	3,452	3,623	5,306	4,904	4,792	4,649	4,443	4,343	4,149	4,056	3,944	3,706	3,360	3,122	2,916	2,752	2,677	2,594	2,554	2,393	0	0	0
Fiduciary activities
9,019	8,580	8,215	8,236	7,991	7,827	0	0	0	-	-	-	6,908	6,621	6,357	6,224	5,975	5,637	5,393	5,004	4,987	4,738	4,575	4,397	4,245	4,337	4,209	4,227	4,162	3,997	4,000	4,045	3,995	3,983	3,845	3,836	0	0	0
Debt and Equity Securities, Gain (Loss)
249	-75	-417	-539	-439	-443	-111	17	14	38	999	993	1,763	1,836	940	940	173	189	1,112	0	0	-	0	-	-	374	376	0	0	-	0	-	-	1,777	2,090	1,106	0	0	0
Gain on sale of mortgage loans
11,372	9,208	7,544	6,681	6,499	6,613	7,146	7,257	7,415	7,906	8,422	10,000	11,475	11,675	11,411	10,677	9,790	10,055	10,109	9,468	9,363	8,395	7,315	6,829	7,099	8,794	11,582	14,351	14,955	14,123	12,584	10,293	8,190	6,449	6,459	5,988	0	0	0
Mortgage servicing income net of impairment
1,333	1,914	2,317	2,436	2,377	2,120	1,831	1,637	1,485	1,583	1,727	1,767	1,908	1,908	1,624	1,461	1,261	993	974	844	777	805	1,264	1,496	1,565	1,521	1,142	439	307	234	-519	-336	-407	267	360	435	0	0	0
Increase in cash value of bank owned life insurance
2,231	2,190	2,156	2,103	1,990	1,912	1,831	1,802	1,768	1,797	1,844	1,819	1,762	1,643	1,505	1,430	1,336	1,249	1,155	1,077	1,072	1,047	1,029	1,011	1,016	1,035	1,052	1,074	1,052	1,025	990	935	911	891	907	859	0	0	0
Death benefit on bank owned life insurance
813	580	734	0	0	-	-	0	-	-	-	-	-	-	-	-	-	145	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Other income
1,968	2,394	2,378	2,245	2,156	2,141	2,907	2,675	2,531	1,773	944	933	692	1,039	919	1,015	1,069	1,103	1,051	985	816	1,013	1,027	1,054	1,270	1,103	1,052	990	872	466	341	166	31	102	314	570	0	0	0
Total non-interest income
46,409	43,058	39,601	36,773	34,807	34,413	35,280	34,615	33,895	33,136	33,276	34,573	35,627	35,455	31,753	30,835	28,755	28,434	29,390	28,380	27,821	26,277	25,226	23,746	23,968	25,906	28,143	29,943	29,649	27,331	24,406	23,234	21,127	20,299	20,948	19,333	0	0	0
Non-interest Expense
Salaries and employee benefits
67,331	65,206	62,463	59,858	56,716	56,623	56,814	55,382	54,039	51,375	48,507	47,806	45,657	44,013	42,763	41,205	39,273	37,712	36,232	33,795	33,703	32,682	32,104	31,583	31,011	31,032	30,895	31,106	29,924	28,383	26,370	24,546	23,477	22,875	22,897	22,006	0	0	0
Net occupancy expenses
12,637	12,157	11,552	10,916	10,288	10,482	10,468	10,373	10,049	9,535	9,359	9,133	8,838	8,322	7,762	7,311	6,785	6,400	6,068	5,749	5,734	5,607	5,394	5,162	5,097	4,984	5,091	5,105	4,786	4,529	4,307	4,177	4,240	4,267	4,212	4,135	0	0	0
Data processing
8,919	8,480	7,999	7,618	7,086	6,816	6,665	6,408	6,303	5,914	5,823	5,937	5,569	5,367	4,936	4,601	4,433	4,251	4,119	3,745	3,716	3,663	3,575	3,434	3,315	3,045	3,018	3,006	2,791	2,717	2,439	2,234	2,125	2,006	1,952	1,973	0	0	0
Professional fees
1,989	1,946	2,038	2,140	1,918	1,926	2,007	2,219	2,378	2,490	2,359	2,322	2,534	2,752	2,664	2,461	2,374	2,070	1,942	1,891	1,650	1,731	1,743	1,742	1,777	1,668	1,817	1,826	1,955	1,990	1,941	1,934	1,682	1,497	1,456	1,627	0	0	0
Outside services and consultants
6,537	8,152	8,273	7,925	7,537	5,271	5,762	7,062	7,060	7,018	6,871	7,053	7,986	7,863	6,965	7,488	6,208	5,735	5,449	2,835	3,215	3,250	3,332	3,173	2,361	2,412	2,326	2,514	2,554	2,313	2,141	1,971	1,831	1,741	1,595	1,565	0	0	0
Loan expense
8,783	8,633	8,032	7,556	7,033	6,341	5,902	5,395	5,120	4,970	5,068	5,335	5,494	5,582	5,490	5,359	5,317	5,379	5,256	5,107	5,012	4,770	4,601	4,439	4,569	4,668	4,953	5,224	4,688	4,276	4,189	3,698	3,526	3,586	3,131	3,082	0	0	0
FDIC insurance expense
242	252	645	1,314	1,294	1,444	1,321	1,195	1,093	1,046	1,056	1,251	1,417	1,559	1,679	1,637	1,567	1,499	1,420	1,310	1,256	1,175	1,122	1,079	1,062	1,089	1,131	1,152	1,134	1,108	1,074	1,037	1,090	1,220	1,367	1,521	0	0	0
Other losses
-756	-740	-452	-523	-623	-665	-758	-655	-464	-368	-360	-409	-467	-684	-591	-730	-744	-432	-183	98	153	70	-759	-849	-917	-807	-264	-518	-517	-619	-1,519	-2,298	-2,382	-2,383	-1,508	-430	0	0	0
Other expense
16,249	16,466	16,045	15,209	13,922	12,948	12,993	12,894	12,623	12,097	11,707	11,433	11,181	10,750	8,726	8,937	8,726	8,747	9,955	9,408	9,367	9,138	9,255	9,132	8,871	8,740	9,184	9,007	8,494	8,089	7,289	6,847	6,696	6,572	6,197	5,847	0	0	0
Total non-interest expense
123,443	122,032	117,499	113,059	106,417	102,516	102,690	101,583	99,129	94,813	91,110	90,679	89,143	86,892	81,576	79,729	75,427	72,225	70,624	63,742	63,500	61,946	61,885	60,593	58,980	58,445	58,679	59,458	56,843	54,024	51,269	48,742	47,049	46,147	44,315	42,186	0	0	0
Income Before Income Taxes
80,190	79,841	73,046	64,167	61,125	63,560	61,300	56,315	52,002	47,953	41,757	40,271	36,630	32,713	33,891	30,341	27,870	27,781	26,003	27,058	27,246	24,256	22,847	22,565	23,797	26,924	29,089	29,503	28,775	27,989	25,285	23,109	20,029	16,983	16,673	15,128	0	0	0
Income Tax Expense (Benefit)
12,813	13,303	11,918	10,511	9,996	10,443	13,666	13,575	14,305	14,836	10,687	10,770	9,875	8,801	9,407	8,171	7,298	7,232	6,681	7,066	7,204	6,155	5,579	5,470	5,815	7,048	8,158	8,507	8,534	8,446	7,390	6,647	5,384	4,186	4,119	3,476	0	0	0
Net Income
0	-	61,128	53,656	0	-	47,634	42,740	37,697	-	31,070	29,501	26,755	23,912	24,484	22,170	20,572	20,549	19,322	19,992	20,042	18,101	17,268	17,095	17,982	19,876	20,931	20,996	20,241	19,543	17,895	16,462	14,645	12,797	12,554	11,652	0	0	0
Preferred stock dividend
-	-	-	-	-	-	-	-	-	-	-	-	-	42	74	105	136	125	123	132	133	133	165	191	255	370	464	461	471	481	387	1,034	1,205	1,325	1,616	1,258	0	0	0
Net Income Available to Common Shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	23,870	24,410	22,065	20,436	20,424	19,199	19,860	19,909	17,968	17,103	16,904	17,727	19,506	20,467	20,535	19,770	19,062	17,508	15,428	13,440	11,472	10,938	10,394	0	0	0
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