AP NEWS

Horizon Bancorp: 2Q Earnings Snapshot

July 26, 2018

MICHIGAN CITY, Ind. (AP) _ Horizon Bancorp (HBNC) on Wednesday reported second-quarter profit of $14.1 million.

The Michigan City, Indiana-based bank said it had earnings of 37 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The bank holding company posted revenue of $49.7 million in the period. Its revenue net of interest expense was $42.5 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $42.3 million.

Horizon Bancorp shares have climbed 12 percent since the beginning of the year. The stock has increased 16 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HBNC at https://www.zacks.com/ap/HBNC

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