10-Q · May 8, 2026
Horizon Bancorp reported Q1 2026 results with a revenue of $73.5 million, slightly missing expectations, while EPS of $0.51 surpassed estimates. The performance was driven by a significant increase in net interest…
Earnings analysis · 10-Q
HBNC earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
The provided 10-Q excerpt does not include the income statement, balance sheet, cash-flow statement, or segment disclosures, so quarterly revenue, margins, EPS, liquidity, and cash-flow trends cannot be independently…
Read full summary
The provided 10-Q excerpt does not include the income statement, balance sheet, cash-flow statement, or segment disclosures, so quarterly revenue, margins, EPS, liquidity, and cash-flow trends cannot be independently quantified from the filing text supplied. The principal disclosed signal is modest asset sensitivity to higher rates, with modeled net interest income increasing 2.6% under a 100-basis-point rise and declining 0.9% under a 200-basis-point decline. Management reported effective controls and no material changes to the risk factors disclosed in the 2025 Form 10-K.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Asset sensitivity favors higher rates
The interest-rate model projects net interest income increasing by $6.777 million, or 2.6%, under an immediate 100-basis-point rise in rates, and by $8.474 million, or 3.2%, under a 200-basis-point rise.
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Limited modeled downside at -100 bps
Management’s model indicates a modest downside from lower rates: net interest income would decline by $156 thousand, or 0.1%, under a 100-basis-point decline in rates.
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Controls remained effective
The company reported that disclosure controls were effective as of June 30, 2026, and that there were no changes during the quarter ended June 30, 2026 that materially affected, or were reasonably likely to materially affect, internal control over financial reporting.
What to watch
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Down-rate scenario remains a headwind
A modeled 200-basis-point decline in interest rates would reduce net interest income by $2.311 million, or 0.9%, over the one-year horizon.
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Deposit beta assumptions add uncertainty
The interest-rate simulation relies on non-maturity deposit beta assumptions ranging from 12% to 80%; actual deposit repricing could differ materially from the model.
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No new risk-factor changes reported
The company states there were no material changes from the risk factors in its 2025 Form 10-K, but the filing continues to identify legal proceedings and other ordinary-course claims as potential exposures; unfavorable outcomes are not expected to materially affect results according to management.
Management's outlook
No quantitative EPS or revenue guidance is disclosed in the provided 10-Q text. The filing states that interest-rate sensitivity modeling is not intended as a forecast; prior company commentary referenced a mid-single-digit organic growth outlook.
Earlier filings 4
10-K · March 13, 2026
Horizon Bancorp reports a 2025 net loss of $(150,482) (per consolidated statements) driven primarily by a $299,538 loss on sale of investment securities and balance sheet repositioning. The bank remains well–capitalized…
10-Q · August 11, 2025
Horizon Bancorp reported a stronger quarter with total operating revenue of $66,275,000 (Net interest income $55,355,000 + non-interest income $10,920,000) and diluted EPS of $0.47, up from $0.32 in Q2 2024. Loans and…
10-Q · May 8, 2025
Horizon Bancorp reported a strong quarter: net income rose to $23,943,000 (Q1 2025) from $13,991,000 (Q1 2024) and diluted EPS increased to $0.54 from $0.32 year-over-year. Core revenue (net interest income plus…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.