Horizon Bancorp is a bank holding company that provides a range of banking services through its bank subsidiary, Horizon Bank, and Horizon Risk Management. The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking. In addition, the Bank offers commercial loans, real estate loans, mortgage warehouse loans and consumer loans.

Type
Public
HQ
Michigan City, US
Founded
1873
Size (employees)
665 (est)
Horizon Bancorp was founded in 1873 and is headquartered in Michigan City, US
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Horizon Bancorp Office Locations

Horizon Bancorp has an office in Michigan City
Michigan City, US (HQ)
515 Franklin St
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Horizon Bancorp Financials and Metrics

Horizon Bancorp Financials

Horizon Bancorp's revenue was reported to be $106.53 m in FY, 2016 which is a 20.3% increase from the previous period.
USD

Net income (FY, 2017)

33.1 m

EBIT (FY, 2017)

109.6 m

Market capitalization (25-Apr-2018)

686.9 m

Cash (31-Dec-2017)

76.4 m

EV

648.1 m
Horizon Bancorp's current market capitalization is $686.9 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

74.9 m76.2 m88.6 m106.5 m

Revenue growth, %

2%16%20%

Cost of goods sold

13.9 m20.5 m16.4 m

Gross profit

74.7 m86 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

24 m22 m26.7 m27.2 m27.2 m28.3 m32 m31.4 m34.5 m39 m36.4 m39 m

Cost of goods sold

3.4 m3.2 m3.3 m3.5 m3.2 m3.3 m3.8 m3.8 m3.8 m4.6 m3.3 m3.6 m

Gross profit

20.6 m18.8 m23.4 m23.8 m24 m25 m28.2 m27.6 m30.7 m34.5 m33.1 m35.4 m

Gross profit Margin, %

86%85%88%87%88%88%88%88%89%88%91%91%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

31.7 m43.5 m48.7 m70.8 m76.4 m

Accounts Receivable

7.5 m8.2 m10.5 m12.7 m16.2 m

Inventories

PP&E

46.2 m52.5 m60.8 m66.4 m75.5 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

40.5 m35.8 m50.8 m37.3 m38.7 m43.9 m48.2 m47.6 m109.2 m83.7 m60.3 m66 m

Accounts Receivable

7.5 m7.5 m8.3 m8.4 m8.4 m8.8 m10.9 m10.5 m11.5 m12.7 m12.6 m13.3 m

PP&E

43.5 m47 m50.9 m50.9 m54 m54.8 m60.7 m60.2 m61.2 m67.3 m66.3 m65.4 m

Goodwill

19.7 m20.5 m28 m28 m28.2 m28.2 m49.6 m49.6 m56.5 m74.3 m77.6 m77.6 m93.8 m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

19.9 m18.1 m20.5 m23.9 m

Depreciation and Amortization

3.4 m3.8 m4.2 m5.3 m

Accounts Payable

(54 k)(50 k)(11 k)(275 k)
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

4.8 m3.4 m4.8 m5 m5.4 m10.1 m14.4 m5.4 m11.7 m18.3 m8.2 m17.3 m8.2 m

Accounts Payable

508 k477 k504 k461 k490 k580 k961 k1 m523 k
USDY, 2017

EV/EBIT

5.9 x

Financial Leverage

8.7 x
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Horizon Bancorp Operating Metrics

Horizon Bancorp's Total Loans was reported to be $2.3b in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Bank Branches

31 46 56

Non-performing Loans

$22.44 m$22.38 m$23.05 m$21 m$10.68 m$14.98 m$13.17 m$12.84 m$10.68 m$9.83 m$11.56 m

Total Loans

$1.38 b$1.46 b$1.52 b$1.72 b$1.75 b$1.72 b$1.93 b$2.19 b$2.14 b$2.14 b$2.26 b
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