Revenue: As of FY2026 Q2, the actual value is USD 75.5 M.

EPS: As of FY2026 Q2, the actual value is USD 0.49, missing the estimate of USD 0.5.

EBIT: As of FY2026 Q2, the actual value is USD 35.53 M.

Net Income

Horizon Bancorp, Inc. reported net income of $24.9 million for the three months ended June 30, 2026, compared to $26.2 million for the first quarter of 2026 and $20.6 million for the second quarter of 2025. For the six months ended June 30, 2026, net income was $51.1 million, an increase from $44.6 million for the same period in 2025. The second quarter 2026 results were negatively impacted by a pre-tax legal charge of $3.1 million.

Net Interest Income

Net interest income for the second quarter of 2026 was $63.5 million, an increase of 14.7% compared to $55.4 million in the second quarter of 2025, and increased from $62.2 million in the first quarter of 2026.

Net Interest Margin (FTE Basis)

The net interest margin (FTE basis) was 4.37% in the second quarter of 2026, up from 4.29% in the first quarter of 2026 and significantly higher than 3.23% in the second quarter of 2025.

Non-Interest Income

Total non-interest income was $12.0 million in the second quarter of 2026, up from $11.2 million in the first quarter of 2026 and $10.9 million in the second quarter of 2025. Total non-interest income grew 10% from the prior year, primarily driven by a 20% increase in fiduciary activities and a 21% increase in mortgage-related income, with growth in interchange fees and service charges also contributing.

Non-Interest Expense

Total non-interest expense for the second quarter of 2026 was $43.8 million, compared to $40.7 million in the first quarter of 2026 and $39.4 million in the second quarter of 2025, with the increase primarily driven by a $3.1 million legal charge included in other expense.

Provision for Credit Losses

Horizon Bancorp, Inc. recorded a provision for credit losses of $0.9 million in the second quarter of 2026, an increase from $0.4 million in the first quarter of 2026, and compared to $2.5 million in the second quarter of 2025.

Credit Quality

Annualized net charge-offs were 0.05% of average loans outstanding in the second quarter of 2026, consistent with the first quarter of 2026, but higher than the 0.02% reported in the second quarter of 2025. Net charge-offs totaled $0.6 million in Q2 2026, compared to $0.6 million in Q1 2026 and $0.3 million in Q2 2025. Non-performing assets decreased by $0.3 million to $43.7 million at June 30, 2026, representing 0.66% of total assets, slightly down from 0.67% at March 31, 2026. Total non-accrual loans decreased by $2.5 million from March 31, 2026, to $32.3 million as of June 30, 2026. The allowance for credit losses as a percentage of period-end loans held for investment was 1.05% at June 30, 2026, consistent with March 31, 2026, but down from 1.09% at June 30, 2025. Substandard Loans were $64.6 million, or 1.30% of Loans Held For Investment (HFI), and Non-Performing Loans totaled $34.9 million, or 0.70% of Loans HFI, in Q2 2026. Early stage delinquencies were low at 0.43% bank-wide.

Balance Sheet

Total assets increased by $9.9 million, or 0.2%, to $6.6 billion as of June 30, 2026, compared to March 31, 2026. Total loans were $5.0 billion at June 30, 2026, an increase of $75.9 million from March 31, 2026, mainly from organic commercial loan growth. Total loans held for investment (HFI) increased by $81 million, or 6.6% Linked Quarter Annualized (LQA), reaching $5.0 billion, primarily driven by commercial loans which increased by $64 million, or 7.4% LQA. Commercial Loans totaled $3,530 million, while Consumer and Residential Loans were $1,429 million as of Q2 2026. Total deposits decreased by $22.1 million, or 0.4%, to $5.4 billion as of June 30, 2026, compared to March 31, 2026. Total deposit balances remained relatively unchanged from Q1 2026, with $37 million of growth in non-time deposits offset by a planned $59 million decline in time deposits. Non-interest bearing deposits represented 20.4% of total deposits, interest-bearing deposits were 59.2%, and time deposits accounted for 20.4% as of Q2 2026. Interest-bearing deposit costs rose by a modest 4 basis points from Q1 2026, but remained 33 basis points lower than a year ago.

Capital

Total stockholders’ equity to total assets was 11.05% at June 30, 2026. Tangible common equity totaled $565.1 million, and the ratio of tangible common equity to tangible assets was 8.81% at June 30, 2026, up from 8.39% at March 31, 2026. The Common Equity Tier 1 (CET1) ratio grew by 28 basis points to 11.09% in Q2 2026, up from 10.81% in Q1 2026. Total risk-based capital stood at 15.01% in Q2 2026, compared to 14.76% in Q1 2026, and the Leverage Ratio improved to 10.17% in Q2 2026 from 9.84% in Q1 2026.

Operational Metrics

Return on average assets was 1.54% for the second quarter of 2026, compared to 1.62% for the first quarter of 2026 and 1.09% for the second quarter of 2025. Return on average tangible common equity was 18.05% for the second quarter of 2026, compared to 19.02% for the first quarter of 2026 and 13.24% for the second quarter of 2025.

Outlook / Guidance

Horizon Bancorp, Inc. anticipates continued resiliency in its peer-leading profitability metrics and expects mid-single digit organic growth in loans and deposits, complemented by advancements in fee income and disciplined expense management. For the full year 2026, the company projects period-end total loans held for investment (HFI) and total deposits to both grow at a mid-single-digit rate, with non-FTE net interest income expected to grow in the low-teens. The second half FTE Net Interest Margin (NIM) is anticipated to be in the range of 4.30%-4.35%, full year non-interest income estimated in the mid-$40 million range, and non-interest expense (excluding the Q2 legal charge) expected in the low to mid-$160 million range, with an effective tax rate between 18.0% and 20.0%.