Overview

* Horizon Bancorp ( HBNC ) Q2 net income falls to $20.6 mln from $23.9 mln in Q1

* Net interest income rises 5.9% qtr/qtr, driven by loan growth

* Company maintains strong credit quality with low net charge-offs

Outlook

* Company highlights disciplined approach to efficient balance sheet and capital deployment

* Company aims to continue creating shareholder value throughout 2025

Result Drivers

* LOAN GROWTH - Strong commercial loan growth of $117.2 mln, partially funded by runoff of lower yielding auto loans

* NET INTEREST MARGIN - Seventh consecutive quarter of net interest margin expansion to 3.23%, driven by higher-yielding loans and strategic pricing

* CREDIT QUALITY - Low net charge-offs and decrease in non-performing assets, reflecting strong credit management

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $0.47

Q2 Net $20.64

Income mln

Q2 Net $55.35

Interest mln

Income

Q2 Net 3.2%

Interest

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "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 $18.00, about 11.6% above its July 22 closing price of $15.92

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

Press Release:

(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.)