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Horizon Bancorp: Q4 Earnings Snapshot
By AP News - Jan 22, 2025, 05:30 PM ET
Last Updated - Jan 22, 2025, 05:30 PM EST
MICHIGAN CITY, Ind. (AP) — MICHIGAN CITY, Ind. (AP) — Horizon Bancorp (HBNC) on Wednesday reported a loss of $10.9 million in its fourth quarter.
The bank, based in Michigan City, Indiana, said it had a loss of 25 cents per share. Earnings, adjusted for non-recurring costs, came to 36 cents per share.
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The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The bank holding company posted revenue of $64.4 million in the period. Its revenue net of interest expense was $24.2 million, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $61.5 million.
For the year, the company reported profit of $35.4 million, or 80 cents per share. Revenue was reported as $191.6 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
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