The following is a summary of the Horizon Bancorp, Inc. (HBNC) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Horizon Bancorp reported robust loan growth in Q2 2024, with a $205 million increase or 17.8% annualized, predominantly in commercial and mortgage loans.

• Net interest income and margin expanded for the third consecutive quarter.

• Fee income and pre-tax pre-provision income grew, reflecting effective balance sheet management and expense control.

Business Progress:

• The company emphasized commercial and mortgage loan growth while de-emphasizing lower-yielding consumer loans as part of ongoing balance sheet repositioning.

• New commercial loan productions and constructions funding contributed significantly to the quarter's performance.

• Ongoing investments in treasury management and private wealth sectors to enhance fee income generation.

Opportunities:

• Horizon anticipates continued loan growth, particularly in commercial lending, with strategic focus on maintaining a diversified lending portfolio and sound credit underwriting.

• The granular and resilient deposit base is expected to support financial performance in a down rate environment, enhancing net interest margin and income.

Risks:

• Despite strong credit quality, there is cautious monitoring of the commercial portfolio, particularly with potential shifts in the economic environment and interest rate changes affecting loan performance.

More details: Horizon Bancorp (IN) IR

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