Horizon Bancorp: Q4 Earnings Snapshot

MICHIGAN CITY, Ind. (AP) _ Horizon Bancorp (HBNC) on Wednesday reported fourth-quarter net income of $21.2 million.

The bank, based in Michigan City, Indiana, said it had earnings of 48 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The bank holding company posted revenue of $77.9 million in the period. Its revenue net of interest expense was $59.5 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $63.9 million.

For the year, the company reported profit of $93.4 million, or $2.14 per share. Revenue was reported as $247 million.


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