It was a huge day for Horizon Bancorp execs and fans alike today as the bank holding company for Horizon Bank achieved $5-billion in total bank assets and celebrated becoming the largest bank in Northwest Indiana by ringing the Opening Bell at NASDAQ in Times Square, New York.
At 9:30am this morning, Monday, August 5th, 2019, Horizon Chairman & CEO Craig Dwight was joined by current and past executive leadership from the Horizon team at the opening bell ringing ceremony.
In addition to marking the $5-million bank asset milestone, the ceremony also celebrates 146 years in business. The asset milestone, reached by the end of the second quarter of this year is accompanied by word that Horizon’s trust department exceeded $2.5 billion in assets under management as well.
Horizon’s first day of trading on NASDAQ was nearly 18 years ago on December 20, 2001. Reflecting on Horizon’s success, Dwight says, “I remember that time well. On that first day HBNC’s total volume was 16,000 shares, and the closing price was $2.73 per share. Since that time Horizon Bancorp’s total shareholder return exceeds 615-percent. We have created shareholder value.”
Horizon Bancorp Inc., the parent company of Horizon Bank, is headquartered in Michigan City, Indiana and is the largest bank with headquarters rooted in Northwest Indiana as defined by the counties of LaPorte, Porter and Lake. The bank also widely serves Michigan’s Great Southwest with branches in the region. Dwight says, “While we are proud of our growth, we are equally proud to call Northwest Indiana our home since the very beginning,” and adds, “While other larger banks continue to move out of the area, we are here to stay and are extremely pleased to have the distinction of being the largest bank headquartered in Northwest Indiana.”
The $5-billion milestone for the company represents a double digit compounded annual growth rate of 12.63-percent from assets of $531 million at year-end 2000. During this time frame the bank has completed 14 bank acquisitions and expanded into 11 new markets by hiring local, seasoned bankers to join the company.
As CEO, Dwight says, “Horizon’s ongoing success could not be accomplished without the hard work of our entire team, which is now well over 800 advisors in 76 offices throughout the states of Indiana and Michigan.” He concludes, “This success is based on simple philosophy of people first and treating everyone with respect, dignity and fairness.”
Horizon Bancorp, Inc. is an independent, commercial bank holding company serving northern and central Indiana, and southwest, central and the Great Lakes Bay regions of Michigan through its commercial banking subsidiary, Horizon Bank. Horizon Bancorp, Inc. can be reached online at www.horizonbank.com. Than bank’s common stock is traded on the NASDAQ Global Select Market under the symbol HBNC.
