Horizon Bancorp

Horizon Bancorp offers banking, investment and trust services and provides mortgage banking services throughout the Midwest. The Company's principal subsidiaries are Horizon Bank, N.A and Horizon Trust and Investment Management, N.A.

Horizon is proud of its heritage – and still operates under its original national bank charter issued in 1873. Horizon is committed to strategic growth, with an emphasis on service to its customers and a fair return to its shareholders. Through its innovative Shareholder Value Plan, it is committed to increasing its shareholder base in the communities it serves, and to maintaining a market that will enable its stock to reflect its true value.

Type
Public
HQ
Michigan City, US
Founded
1871
Size (employees)
665 (est)+20%
Horizon Bancorp was founded in 1871 and is headquartered in Michigan City, US

Horizon Bancorp Office Locations

Horizon Bancorp has an office in Michigan City

Horizon Bancorp Data and Metrics

Horizon Bancorp Financial Metrics

Horizon Bancorp's revenue was reported to be $36.4 m in Q1, 2017
USD

Revenue (Q1, 2017)

36.4 m

Gross profit (Q1, 2017)

33.1 m

Gross profit margin (Q1, 2017), %

91%

Net income (Q1, 2017)

8.2 m

EBIT (Q1, 2017)

25.2 m

Market capitalization (21-Jul-2017)

582.3 m

Cash (31-Mar-2017)

60.3 m
Horizon Bancorp's current market capitalization is $582.3 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

74.9 m76.2 m88.6 m106.5 m

Revenue growth, %

2%16%20%

Cost of goods sold

13.9 m20.5 m

Gross profit

74.7 m86 m

Gross profit Margin, %

84%81%

Sales and marketing expense

44 m

R&D expense

5.4 m

Operating expense total

74.2 m89.4 m

EBIT

71.6 m84.2 m

EBIT margin, %

81%79%

Pre tax profit

27.8 m32.7 m

Income tax expense

7.2 m8.8 m

Net Income

19.9 m18.1 m20.5 m23.9 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

26.7 m27.2 m27.2 m28.3 m32 m31.4 m34.5 m39 m36.4 m

Cost of goods sold

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

Gross profit

23.4 m23.8 m24 m25 m28.2 m27.6 m30.7 m34.5 m33.1 m

Gross profit Margin, %

88%87%88%88%88%88%89%88%91%

Sales and marketing expense

8.3 m8.2 m8.5 m8.4 m10.7 m10.1 m10.3 m12.2 m11.7 m

R&D expense

937 k907 k923 k966 k1.3 m1.1 m1.1 m1.6 m1.3 m

Operating expense total

9.2 m9.1 m9.4 m9.4 m11.9 m11.2 m11.5 m13.8 m13 m

EBIT

16.4 m14.7 m16.3 m15.9 m19.5 m19.2 m20.6 m24 m25.2 m

EBIT margin, %

61%54%60%56%61%61%60%61%69%

Pre tax profit

6.7 m6.7 m7.3 m6.5 m5.6 m7.4 m9 m9.2 m11.3 m

Income tax expense

1.9 m1.7 m1.9 m1.8 m1.4 m2 m2.6 m2.6 m3.1 m

Net Income

4.8 m5 m5.4 m4.7 m4.3 m5.4 m6.3 m6.6 m8.2 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

31.7 m43.5 m48.7 m70.8 m

Accounts Receivable

7.5 m8.2 m10.5 m12.7 m

PP&E

46.2 m52.5 m60.8 m66.4 m

Goodwill

19.7 m28.2 m49.6 m76.9 m

Total Assets

1.8 b2.1 b2.7 b3.1 b

Accounts Payable

506 k497 k507 k2.5 b

Total Debt

37.5 m

Total Liabilities

2.8 b

Additional Paid-in Capital

32.5 m45.9 m106.4 m182.3 m

Retained Earnings

121.3 m134.5 m148.7 m164.2 m

Total Equity

164.5 m194.4 m266.8 m340.9 m

Debt to Equity Ratio

0.1 x

Debt to Assets Ratio

0 x

Financial Leverage

10.7 x10.7 x9.9 x9.2 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

50.8 m37.3 m38.7 m43.9 m48.2 m47.6 m109.2 m83.7 m60.3 m

Accounts Receivable

8.3 m8.4 m8.4 m8.8 m10.9 m10.5 m11.5 m12.7 m12.6 m

PP&E

50.9 m50.9 m54 m54.8 m60.7 m60.2 m61.2 m67.3 m66.3 m

Goodwill

28 m28 m28.2 m28.2 m49.6 m49.6 m56.5 m74.3 m77.6 m

Total Assets

2.1 b2 b2.2 b2.2 b2.6 b2.6 b2.9 b3.3 b3.2 b

Accounts Payable

1.5 b1.4 b1.5 b1.6 b1.9 b1.9 b2.1 b2.3 b2.4 b

Additional Paid-in Capital

45.4 m45.7 m46.1 m46.6 m106.1 m106.5 m120.8 m181.9 m182.4 m

Retained Earnings

127.2 m130.9 m138.5 m141.9 m144.3 m152.2 m156.7 m161 m170 m

Total Equity

187.3 m189.8 m199.5 m202.1 m264.7 m261.4 m281 m345.7 m348.6 m

Financial Leverage

11.1 x10.7 x10.8 x11 x9.9 x10.1 x10.4 x9.6 x9.1 x
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 Receivable

215 k(398 k)(1 m)(544 k)

Accounts Payable

(54 k)(50 k)(11 k)(275 k)

Cash From Operating Activities

47 m17.7 m35.2 m25.5 m

Purchases of PP&E

(168.9 m)(93.4 m)(244.2 m)(225.6 m)

Cash From Investing Activities

(124.2 m)226.4 m

Cash From Financing Activities

(95.8 m)143.1 m94.1 m(229.8 m)

Interest Paid

13.6 m13.2 m13.8 m20.6 m

Income Taxes Paid

3.1 m2.8 m4.1 m6.9 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

4.8 m5 m5.4 m4.7 m4.3 m5.4 m6.3 m6.6 m8.2 m

Accounts Receivable

8.3 m8.4 m8.4 m8.8 m10.9 m10.5 m11.5 m12.7 m12.6 m

Accounts Payable

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

Revenue/Employee

54.7 k

Financial Leverage

9.1 x

Horizon Bancorp Market Value History

Horizon Bancorp Company Life and Culture

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