Michigan City-based Horizon Bancorp Inc. (Nasdaq: HBNC) is reporting net income for the year of $66.5 million, compared to $53.1 million the previous year.
The bank says 2019 marked the highest annual net income in its history.
Horizon is also reporting fourth quarter net income of $18.5 million, compared to $13.1 during the same period in 2018.
Chairman and Chief Executive Officer Craig Dwight credits some of the 2019 results to the integration of Salin Bancshares Inc.
Last March, Horizon completed the acquisition of Salin Bank and Trust Co.
“As a result of this acquisition and organic growth, Horizon’s operational leverage and efficiency ratio continued to exhibit improvement, which is evidence that our mass and scale strategy is working,” said Dwight.
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