Full-year profit grows for Horizon Bank
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Michigan City-based Horizon Bancorp Inc. is reporting full-year net income of $35.4 million, up from $28 million the previous year. CEO Thomas Prame said the parent of Horizon Bank has strong momentum and is well positioned for greater returns in 2025.
For the fourth quarter, the bank reported a net loss of $10.8 million, compared to a loss of $25.2 million during the same period in 2023.
Prame said the bank is pleased with the quarterly improvement, which showed a “significantly more profitable core business model and the successful completion of several major initiatives aimed at continuing this positive trajectory throughout 2025.”
During the quarter, Horizon saw a 22.4% annualized growth rate in commercial loans. Additionally, the team completed its previously communicated fourth quarter initiatives aimed at restructuring its expense base to create greater efficiency in 2025,” Prame said.
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