Profile: Horizon Bancorp (HBNC.OQ)
21 Oct 2016
Horizon Bancorp, incorporated on April 26, 1983, is a bank holding company. The Company provides a range of banking services in Northwestern and Central Indiana and Southwestern Michigan through its bank subsidiary, Horizon Bank, N.A. (the Bank), and other affiliated entities and Horizon Risk Management, Inc. The Bank is a full-service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking. Horizon Risk Management, Inc. is a captive insurance company. The Bank maintains approximately 54 full service offices.
The Bank's loan portfolio consists of commercial loans, real estate loans, mortgage warehouse loans and consumer loans. As of December 31, 2015, the Bank's total loans amount was $1,734.6 million.
The Bank's investment securities include both securities available for sale and held to maturity. The Bank's investment securities consist of the United States treasury and federal agencies, state and municipal, federal agency collateralized mortgage obligations, federal agency mortgage-backed pools, private labeled mortgage-backed pools and corporate notes. As of December 31, 2015, the Bank's total investment securities amount was $631.7 million.
Source of Funds
The Bank's deposits include noninterest-bearing demand deposits, interest-bearing demand deposits, savings deposits, money market deposits and time deposits. As of December 31, 2015, the Bank's total deposits amount was $1,880.2 million.
The Bank's direct and indirect subsidiaries include Horizon Investments, Inc. (Horizon Investments), Horizon Properties, Inc. (Horizon Properties), Horizon Insurance Services, Inc. (Horizon Insurance) and Horizon Grantor Trust. Horizon Investments manages the investment portfolio of the Bank. Horizon Properties manages the real estate investment trust. Horizon Insurance is used by the Company's Wealth Management to sell certain insurance products. Horizon Grantor Trust holds title to certain Company-owned life insurance policies. The Bank also provides pooled trust preferred securities offerings through Horizon Bancorp Capital Trust II and Horizon Bancorp Capital Trust III.
515 Franklin St
MICHIGAN CITY IN 46360-3328