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April 3, 2014
09:50 EDTHBNCHorizon Bancorp announces closing of SCB Bancorp merger
Horizon Bancorp announces the completion of the acquisition of SCB Bancorp and its wholly-owned subsidiary, Summit Community Bank, effective April 3 through the merger that was initially announced in November of 2013. Pursuant to the merger, SCB was merged into Horizon and simultaneously Summit Community Bank was merged into Horizon Bank, N.A. As previously announced, the banks will operate under the name Horizon Bank. Horizon determined from its original due diligence not to retain Summitís residential mortgage lending team known as the Home Loan Center. As a result, that business unit is being discontinued. This decision was based on the cost structure and fixed overhead of the business unit.
News For HBNC From The Last 14 Days
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July 29, 2014
07:16 EDTHBNCKeefe Bruyette to hold a conference
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July 24, 2014
10:03 EDTHBNCOn The Fly: Analyst Upgrade Summary
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08:39 EDTHBNCHorizon Bancorp upgraded to Buy from Hold at Sandler ONeill
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July 23, 2014
17:05 EDTHBNCHorizon Bancorp increased its quarterly dividend to 13c from 11c
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17:04 EDTHBNCHorizon Bancorp reports Q2 ex-items EPS 56c, consensus 50c
Assets passed the $2.0B threshold reaching $2.1B as of June 30. Total loans increased $222.7M during the quarter to $1.3B as of June 30. Items excluded from EPS include costs of $900K related to the acquisition of SCB Bancorp. Net charge-offs for the quarter totaled $780K. Book value per share for the quarter was $19.00, tangible book value per share was $15.47. The provision for loan losses was $339K for Q2.

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