Michigan City-based Horizon Bancorp Inc. (Nasdaq: HBNC) is reporting record fourth quarter net income of $13.1 million, up from $7.6 million during the same period last year. The parent of Horizon Bank also says its year-end results mark the highest annual net income in the bank’s 145-year history.
Chief Executive Officer Craig Dwight says the company will continue to realize cost savings with its acquisition of Salin Bank, expected to close in February. Salin Bank is the third largest privately held bank in Indiana, with 20 banking centers in 10 Indiana counties.
“We are excited about the pending merger with Salin, as it provides entry into the attractive growth markets of Fort Wayne and Columbus, Indiana while also complementing our current Indiana locations,” said Dwight. “Salin Bank’s presence in the dynamic markets of Indianapolis and Lafayette, Indiana will add to Horizon’s current footprint.”
You can view the full fourth quarter earnings report by clicking here.