HORIZON BANCORP INC /IN/ Business Summary

Horizon Bancorp, Inc. (HBNC) is the bank holding company for Horizon Bank, a regional financial institution that generates revenue through net interest income from its loan portfolio and fee-based non-interest income from wealth management, mortgage banking, and treasury services. The company’s business model is primarily driven by its Commercial Banking segment, which emphasizes commercial and industrial (C&I) lending and mortgage warehouse financing, supported by a Retail Banking segment and a Wealth Management division. As of early 2026, Horizon has successfully executed a balance sheet repositioning strategy to optimize its net interest margin (NIM), providing 2026 guidance in the 4.25%–4.35% range. It competes in the Midwestern market against regional peers such as First Merchants Corporation (FRME), Old National Bancorp (ONB), and First Busey Corporation (BUSE), distinguishing itself through a "community-first" service model and a disciplined credit culture that maintains peer-leading performance metrics. The leadership team is led by President and CEO Thomas M. Prame, who brought over 30 years of experience from First Midwest Bank and City National Bank to spearhead the company's digital and commercial expansion. Financial operations are managed by Executive Vice President and CFO John R. Stewart, a CFA who joined in 2024 with a background in capital planning at large-scale regional banks, while Mark Secor serves as Chief Administration Officer following a 16-year tenure as CFO. In January 2026, the company appointed Eric Blackhurst as its first independent Chairman of the Board, succeeding long-time leader Craig Dwight and signaling a shift toward enhanced independent governance. Horizon is supported by a high level of institutional ownership, with major stakeholders including BlackRock, Vanguard, and Dimensional Fund Advisors, underscoring investor confidence in the bank’s strategic pivot toward higher-margin commercial lending and its robust footprint across Indiana and Michigan.