Horizon Bancorp (HBNC) Registration Filing summary

Company overview and business model

• Operates as a financial holding company providing commercial and retail banking, trust, and wealth management services in Indiana and Michigan through 71 offices.

• Regulated by the Federal Reserve, Indiana DFI, FDIC, and subject to SEC and NASDAQ requirements.

• Faces significant competition from banks, credit unions, fintechs, and non-bank financial service providers.

Financial performance and metrics

• As of June 30, 2024, reported total assets of $7.9 billion and total deposits of $5.6 billion.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including capital contributions to the bank, debt repayment, stock repurchases, acquisitions, and other permitted activities.

• Unused funds may be temporarily invested in securities or used to pay down borrowings.