Overview

* Horizon Bancorp ( HBNC ) Q3 net loss of $222 mln, missing analyst expectations

* Adjusted EPS for Q3 misses analyst expectations

* Net interest income rises 5.5% from prior qtr, driven by margin expansion

Outlook

* Horizon Bancorp ( HBNC ) focuses on profitable growth and capital redeployment into 2026

* Company emphasizes disciplined execution and core banking strength for future

Result Drivers

* BALANCE SHEET REPOSITIONING - Strategic repositioning exceeded expectations, impacting non-interest income and expenses

* NET INTEREST MARGIN EXPANSION - Net interest margin expanded to 3.52%, contributing to increased net interest income

* LOAN PORTFOLIO CHANGES - Decrease in loans held for investment due to planned runoff and sale of indirect auto portfolio

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS Miss -$4.69 -$1.74

(5

Analysts

)

Q3 Net Miss -$221.99 -$31.81

Income mln mln (5

Analysts

)

Q3 Net $58.38

Interest mln

Income

Q3 Net 3.52%

Interest

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Horizon Bancorp Inc ( HBNC ) is $19.00, about 17.2% above its October 21 closing price of $15.73

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)