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MICHIGAN CITY, Ind. (AP) — MICHIGAN CITY, Ind. (AP) — Horizon Bancorp (HBNC) on Wednesday reported a loss of $25.2 million in its fourth quarter.
The bank, based in Michigan City, Indiana, said it had a loss of 58 cents per share. Earnings, adjusted for non-recurring costs, were 33 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The bank holding company posted revenue of $63.1 million in the period. Its revenue net of interest expense was $21.8 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $51.5 million.
For the year, the company reported profit of $28 million, or 64 cents per share. Revenue was reported as $187.7 million.
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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