Horizon Bancorp (HBNC) Q3 2024 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Thu, January 22, 2026 astatine 10:58 AM CST 28 min read

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Oct. 24, 2024 astatine 8:30 a.m. ET

• President and Chief Executive Officer — Thomas Prame

• Executive Vice President and Chief Commercial Banking Officer — Lynn Kerber

• Executive Vice President and Chief Financial Officer — John Stewart

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Thomas Prame: Good greeting and convey you for participating successful today’s call. We are pleased to stock our 3rd 4th results that show different 4th of affirmative nett income growth, highlighted by enlargement of nett involvement income and interest income, combined with fantabulous recognition quality. Horizon's affirmative 3rd 4th results, displayed connected leafage four, bespeak the organization's committedness to continuing to heighten our fiscal performance. The 4th reflected continued maturation successful our gross models, driven by a 4th consecutive 4th of expanded nett involvement income and continued interest income growth. Average indebtedness maturation for the 4th was coagulated astatine 10% annualized, coming disconnected the beardown precocious June accumulation we antecedently reported.

It besides reflects continuation of our strategy to turn our halfway commercialized portfolio, coupled with a planned runoff of little yielding car loans. The squad remains precise assured connected its quality to find ample lending opportunities to turn successful our section markets, portion maintaining our affirmative recognition trends displayed passim 2024. Horizon's deposit portfolio displayed coagulated maturation with stableness successful its halfway noninterest bearing balances and the franchise realizing the benefits of its commercialized and user deposit gathering efforts, the granular and commercialized and user deposit gathering efforts. The granular and tenure deposit basal continues to showcase precise beardown and sticky trends with wide deposit costs expanding slightly.

As our 3rd 4th results displayed, the institution has affirmative momentum connected galore fronts done a much productive equilibrium sheet, gross maturation and fantabulous recognition metrics. The 4th did bespeak somewhat elevated expenses that arsenic John volition sermon successful his presentation, we expect to modulation backmost to much normalized levels arsenic we attack 2025. Additionally, wrong today's presentation, John volition besides beryllium sharing item connected strategical actions initiated successful the 4th quarter, which volition further beforehand our efforts to make semipermanent shareholder worth and importantly amended our operating show successful 2025. As highlighted successful my opening comments, we're precise pleased with the occurrence successful the 4th successful mean indebtedness growth, gross enlargement and continued fantabulous recognition quality.