Key Developments: Horizon Bancorp (HBNC.OQ)
20.11USD
10:45am EDT
$-0.13 (-0.64%)
$20.24
$20.29
$20.29
$20.11
1,000
4,588
$20.93
$16.35
Latest Key Developments (Source: Significant Developments)
Horizon Bancorp Appoints New Chairman
Horizon Bancorp announced that it has named Craig M. Dwight its new Chairman of the Board as well as Chief Executive Officer. In addition, Horizon Bancorp`s Board of Directors approved an amendment to its By-laws to establish the position of Lead Director whenever one person holds both the Chairman and Chief Executive Officer positions. The Lead Director will serve as a principal liaison between the independent Directors, all Board members, the Chairman and Chief Executive Officer and other members of senior management on matters including corporate policy, strategy and executive management performance. The naming of a Lead Director has gained wide acceptance during the past decade and the boards of many companies have established this position to incorporate an additional level of independence and leadership at the board level. As a result of Mr. Dwight`s appointment as both Chairman and Chief Executive Officer effective July 1, 2013, the Board of Directors has established the Lead Director position effective as of that date. The Company also announced Robert C. Dabagia, will retire as Chairman and a Director of the Company on June 30, 2013. Full Article
Horizon Bancorp Announces Quarterly Dividend Increase
Horizon Bancorp announced that its Board of Directors has approved an increase in its quarterly dividend from 13 cents to 15 cents per share. This represents a 15.38% increase and a dividend yield of 2.19% based on the price per share of $27.39 as of the close of business on September 18, 2012, the date on which the Board approved the increase. The dividend will be paid on October 12, 2012 to shareholders of record on September 28, 2012. Full Article
Horizon Bancorp Announces Quarterly Dividend
Horizon Bancorp announced that its Board of Directors has approved an increase in its quarterly dividend from USD0.12 to USD0.13 per share. This represents an 8.33% increase and a dividend yield of 2.96% based on the price per share of $17.59 as of the close of business on March 20, 2012, the date on which the Board approved the increase. The dividend will be paid on April 20, 2012 to shareholders of record on April 6, 2012. Full Article
Horizon Bancorp Announces Definitive Agreement to Acquire Heartland Bancshares, Inc.
Horizon Bancorp announced that it entered into a definitive agreement to acquire Heartland Bancshares, Inc. and its wholly-owned subsidiary, Heartland Community Bank, based in Franklin, Indiana. Under the terms of the merger agreement, Horizon has agreed to issue 0.54 shares (subject to adjustment) of its common stock for each share of Heartland common stock outstanding at the effective time of the merger. Based upon the closing price of Horizon’s common stock of $18.00 on February 8, 2012, the indicated value of the transaction was approximately $9.72 per share of Heartland’s common stock. Subject to Heartland’s shareholder and regulatory approval, the companies anticipate the transaction will close in the second quarter of 2012. The merger agreement provides that Heartland Bancshares, the holding company of Heartland Community Bank, will be merged into Horizon Bancorp and that Heartland Community Bank will merge into Horizon Bank, N.A., the wholly-owned bank subsidiary of Horizon Bancorp. The banks will operate under a single Horizon Bank charter, and the bank will operate in Central Indiana as “Heartland Community Bank, a Horizon Company.” Heartland serves Central Indiana, south of Indianapolis, and has the No. 1 deposit market share in Johnson County. Full Article
Horizon Bancorp Announces Quarterly Dividend
Horizon Bancorp announced that the Board of Directors has approved an increase in its quarterly dividend from USD0.17 to USD0.18 per share. The dividend will be paid on October 14, 2011 to shareholders of record as of September 30, 2011. Full Article
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