Horizon Bancorp, Inc. · NASDAQ:HBNC
Horizon Bancorp — Q4 2025 Earnings Presentation
20 slides from Horizon Bancorp's earnings presentation, Jan 22, 2026
Slide 1: Investor Presentation
Investor Presentation Horizon Bancorp, Inc. (NASDAQ: HBNC) Ye a r E n d e d D e c e m b e r 3 1 , 2 0 2 5 January 22, 2026 Beyond ordinary banking
Slide 2: Important Information
Important Information Forward-Looking Statements This press release may contain forward–looking statements regarding the financial performance, business prospects, growth and operating strategies of Horizon Bancorp, Inc. and its affiliates (collectively, “Horizon”). For these statements, Horizon cla
Slide 3: Fourth Quarter 2025
Fourth Quarter 2025 D E L I V E R I N G VA L U E T O S H A R E H O L D E R S ($000S EXCEPT PER SHARE DATA) 4Q25 3Q25 ◦ Community banking model displaying industry leading INCOME STATEMENT profitability metrics. ROA of 1.63% and ROE of 15.71% Net Interest Income $63,476 $58,386 ◦ Durable net interest
Slide 4: Strategically Focused Loan Growth
Strategically Focused Loan Growth HIGHLIGHTS & DEVELOPMENTS 14% • Commercial Real Estate & C&I loans continue to deliver strong growth Consumer 16% • Total loans increased $53 million or 1.10% linked quarter* Total Loans* Residential $4.9B ◦ Continuing to maintain high credit quality and diverse MRQ
Slide 5: Diversified Commercial Portfolio
Diversified Commercial Portfolio 10% HIGHLIGHTS & DEVELOPMENTS 27% 10% • Commercial loan balances grew 9.1% LQA Central Indiana ◦ Quarter end balances up $76 million West Michigan Geography Southwest Michigan ◦ Northern Michigan, Eastern Michigan & Central Indiana regions primarily contributed to th
Slide 6: Prime Consumer Portfolio
Prime Consumer Portfolio HIGHLIGHTS & DEVELOPMENTS 7% • Direct Consumer and Mortgage portfolios relatively flat • Remaining Consumer portfolio is primarily Home Equity, composed of higher credit quality borrowers with significant capacity to pay Mortgage Mix and well-collateralized loans $1.4B Home
Slide 7: Strong Asset Quality Metrics
Strong Asset Quality Metrics Substandard Loans* (period end) Non-Performing Loans (period end) $34.9 $64.5 $66.7 $64.1 $63.2 $30.4 $31.0 $59.4 $27.0 $26.4 0.72% 0.62% 0.64% 0.56% 0.53% $millions $millions 1.33% 1.36% 1.29% 1.31% 1.22% 4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25 4Q25 Substandard Loa
Slide 8: Relationship Based Core Deposits
Relationship Based Core Deposits HIGHLIGHTS & DEVELOPMENTS • Significantly Improved Funding Profile & Cost ◦ Funding profile: ◦ Improved mix with reduced dependency on high cost, transactional funding ◦ Heavily weighted toward long tenured and granular consumer/commercial relationships ◦ Deposit Cos
Slide 9: Net Interest Margin Expansion
Net Interest Margin Expansion HIGHLIGHTS & DEVELOPMENTS • Q4 NIM expansion driven by strong operating trends in loan and deposit pricing, and the removal of non-core assets and liabilities. NIM results now reflect the profitability of the organic community banking balance sheet. • 9 consecutive quar
Slide 10: Non-Interest Income
Non-Interest Income HIGHLIGHTS & DEVELOPMENTS Non-Interest Income • Diversified income stream continued to perform well in Q4, up 7% from the year ago period excluding securities gain/(loss), led by: ◦ Wealth Management (Fiduciary) Fees grew 19%, while mortgage related income increased by 14% ◦ Inte
Slide 11: Non-Interest Expense
Non-Interest Expense HIGHLIGHTS & DEVELOPMENTS • Q4 2025 expenses included the $0.7 million write off of unamortized issuance expense for the subordinated debt notes due in 2030, which was called on October 1st. • Excluding this item, expenses were relatively unchanged from the prior quarter, with d
Slide 12: Strong Capital Position
Strong Capital Position TCE/TA* Leverage Ratio $13.96 $14.32 9.59% 9.57% 9.25% $10.32 $9.76 8.22% 8.37% 8.38% 8.19% 7.60% 1Q25 2Q25 3Q25 4Q25 1Q25 2Q25 3Q25 4Q25** CET 1 Ratio Total RBC Ratio 15.00% 14.26% 14.44% 14.37% 11.32% 11.48% 10.17% 10.43% 1Q25 2Q25 3Q25 4Q25** 1Q25 2Q25 3Q25 4Q25** * The ta
Slide 13: Full-Year 2026 Guidance Summary
Full-Year 2026 Guidance Summary • Period-end total loans HFI to grow mid-single-digits Loans (HFI) • Led by consistent high-quality commercial loans • Period-end total deposits to grow mid-single-digits Deposits & Funding • Growth will be primarily in relationship-based commercial and consumer clien
Slide 14: Appendix
HORIZON‘ BANK Appendix
Slide 15: Diverse Commercial Lending Portfolio
Diverse Commercial Lending Portfolio 12/31/2025 % of Commercial % of Total Loan COMMERCIAL LOANS BY INDUSTRY Balance Portfolio Portfolio STRONG AND TRADITIONAL Lessors - Residential Multi 306 9.5 % 6.3 % COMMERCIAL LENDING NOO- Warehouse/Industrial 272 8.4 % 5.6 % Health Care, Educational Social Ass
Slide 16: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures Certain information set forth in this press release refers to financial measures determined by methods other than in accordance with GAAP. Specifically, we have included non-GAAP financial measures relating to net income, diluted earnings per share, pre-tax, pre- p
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation Non–GAAP Reconciliation of Net Fully-Taxable Equivalent ("FTE") Interest Margin (Dollars in Thousands, Unaudited) Three Months Ended December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 Interest income (GAAP) (A) $ 89,288 $ 92,836 $ 91,477 $ 89,
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Non-GAAP Reconciliation of Tangible Common Equity to Tangible Assets (Dollars in Thousands. Unaudited) Three Months Ended December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 Total stockholders' equity (GAAP) (A) $ 688,251 $ 660,771 $ 790,852 $
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation Non-GAAP Reconciliation of Tangible Book Value Per Share (Dollars in Thousands. Unaudited) Three Months Ended December 31, September 30, June 30, March 31, December 31, 2025 2025 2025 2025 2024 Total stockholders' equity (GAAP) (A) $ 688,251 $ 660,771 $ 790,852 $ 776,061 $ 76
Slide 20: Thank you
Thank you John R. Stewart, CFA® Executive Vice President & Chief Financial Officer 515 Franklin Street, Michigan City, IN 46360 219-814-5833 Investor.HorizonBank.com