Inside INdiana Business

Horizon Bank hits record Q2 profit

(photo courtesy of Greater Fort Wayne Inc.)

MICHIGAN CITY, Ind. (Inside INdiana Business) — Michigan City-based Horizon Bancorp Inc. (Nasdaq: HBNC) is reporting record second quarter net income of $22.2 million, up from $14.4 million during the period last year. Chief Executive Officer Craig Dwight says the results, combined with an improving commercial lending pipeline and “ample liquidity and capital,” the parent of Horizon Bank is well positioned for more historic growth.

“We also continue to focus on disciplined management of our highly efficient operations and initiated plans to consolidate 10 locations this summer, reassigning employees to other open positions and investing savings into digital capabilities and opportunities in our growing Indiana and Michigan markets,” Dwight said in a news release.

In May, Horizon announced the acquisition of 14 TCF National Bank branches in Michigan. Dwight says the deal is on schedule to be complete in the third quarter.

You can connect to the full earnings report by clicking here.

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