Horizon Bank Mortgage Rates, Fees & Info

Michigan City, IN

LEI: P7GC0W65KB5CEIHLDX81

Tax ID: 35-1076581

5 stars - out of 5 stars, based on 71 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Horizon Bank is a smaller bank specializing in Home Purchase and Refi loans. Horizon Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Indianapolis, Chicago, Michigan City, Niles, and Kalamazoo among others. Horizon Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Horizon Bank is typically a low fee lendor.


Originations

5,077

Origination Dollar Volume (All Markets)

$925,345,000

Employee count

900 Show all (11) awards

Relative Rate

Horizon Bank's average 30 year fixed rate mortgage of loans were 3.29%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.14%.

Relative Fees

Horizon Bank's average total fees for a 30 year fixed rate mortgage are $3,067.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1,050 $181,930,000 $173,267 $2,477 2.97%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 723 $148,925,000 $205,982 $3,154 2.97%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 822 $101,130,000 $123,029 $2,690 2.96%
NILES, MI (FHA|USDA|VA) 333 $76,055,000 $228,393 $3,388 3.01%
Outside of Metro Areas 280 $51,460,000 $183,786 $2,732 3.03%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 182 $49,770,000 $273,462 $3,417 3.12%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 254 $45,400,000 $178,740 $3,242 3.04%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 247 $41,375,000 $167,510 $2,746 3.00%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 217 $28,835,000 $132,880 $2,470 3.05%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 100 $27,590,000 $275,900 $2,848 2.88%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 26 $18,320,000 $704,615 $3,420 2.86%
MUNCIE, IN (FHA|USDA|VA) 8 $12,260,000 $1,532,500 $1,280 3.43%
COLUMBUS, OH (FHA|USDA|VA) 1 $12,155,000 $12,155,000 $0 3.47%
Cadillac, MI (FHA|USDA|VA) 71 $11,855,000 $166,972 $2,231 2.74%
FORT WAYNE, IN (FHA|USDA|VA) 105 $10,645,000 $101,381 $1,929 2.91%
Holland, MI (FHA|USDA|VA) 36 $9,920,000 $275,556 $2,504 3.56%
Warsaw, IN (FHA|USDA|VA) 59 $9,505,000 $161,102 $2,359 2.94%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 41 $7,805,000 $190,366 $2,909 2.69%
MIDLAND, MI (FHA|USDA|VA) 49 $7,625,000 $155,612 $2,602 2.95%
Kendallville, IN (FHA|USDA|VA) 54 $7,370,000 $136,481 $2,721 2.93%
BAY CITY, MI (FHA|USDA|VA) 15 $4,815,000 $321,000 $3,904 2.82%
Auburn, IN (FHA|USDA|VA) 49 $4,585,000 $93,571 $2,274 2.85%
COLUMBUS, IN (FHA|USDA|VA) 35 $4,205,000 $120,143 $2,317 2.58%
Sturgis, MI (FHA|USDA|VA) 31 $4,015,000 $129,516 $2,760 3.01%
KOKOMO, IN (FHA|USDA|VA) 38 $3,890,000 $102,368 $2,080 3.01%
Logansport, IN (FHA|USDA|VA) 46 $3,810,000 $82,826 $2,179 2.75%
BLOOMINGTON, IN (FHA|USDA|VA) 26 $3,490,000 $134,231 $2,510 3.03%
MUSKEGON, MI (FHA|USDA|VA) 5 $3,365,000 $673,000 $4,831 3.33%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $2,730,000 $1,365,000 $8,413 3.19%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $2,430,000 $607,500 $3,946 3.09%
Traverse City, MI (FHA|USDA|VA) 4 $2,400,000 $600,000 $3,189 3.40%
Angola, IN (FHA|USDA|VA) 10 $2,300,000 $230,000 $2,824 2.81%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $2,300,000 $575,000 $3,677 3.00%
Marion, IN (FHA|USDA|VA) 35 $2,105,000 $60,143 $1,911 3.21%
SAGINAW, MI (FHA|USDA|VA) 8 $1,460,000 $182,500 $5,033 3.14%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $1,420,000 $355,000 $3,390 2.56%
BATTLE CREEK, MI (FHA|USDA|VA) 10 $1,320,000 $132,000 $3,346 2.97%
Frankfort, IN (FHA|USDA|VA) 9 $985,000 $109,444 $2,429 3.33%
Peru, IN (FHA|USDA|VA) 6 $920,000 $153,333 $2,400 3.29%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $810,000 $405,000 $2,924 4.19%
FLINT, MI (FHA|USDA|VA) 2 $800,000 $400,000 $2,403 2.87%
Plymouth, IN (FHA|USDA|VA) 9 $795,000 $88,333 $1,895 3.64%
Wabash, IN (FHA|USDA|VA) 8 $720,000 $90,000 $2,188 3.49%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $715,000 $238,333 $4,164 2.41%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $705,000 $705,000 $4,099 3.00%
ANN ARBOR, MI (FHA|USDA|VA) 2 $680,000 $340,000 $2,646 3.38%
Sevierville, TN (FHA|USDA|VA) 2 $580,000 $290,000 $3,506 3.00%
Big Rapids, MI (FHA|USDA|VA) 6 $570,000 $95,000 $2,107 1.74%
Coldwater, MI (FHA|USDA|VA) 1 $525,000 $525,000 $3,072 2.25%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $495,000 $495,000 $3,083 2.88%
Mount Pleasant, MI (FHA|USDA|VA) 2 $440,000 $220,000 $2,042 3.06%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $435,000 $435,000 $4,038 2.88%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $365,000 $121,667 $3,912 3.04%
New Castle, IN (FHA|USDA|VA) 2 $360,000 $180,000 $988 5.75%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $310,000 $155,000 $5,075 2.18%
Bluffton, IN (FHA|USDA|VA) 2 $290,000 $145,000 $3,791 3.25%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $275,000 $275,000 $8,382 3.00%
Defiance, OH (FHA|USDA|VA) 1 $235,000 $235,000 $5,657 4.38%
THE VILLAGES, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,355 3.38%
KANKAKEE, IL (FHA|USDA|VA) 1 $215,000 $215,000 $4,312 3.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $205,000 $205,000 $2,863 2.88%
Crawfordsville, IN (FHA|USDA|VA) 3 $195,000 $65,000 $2,833 3.83%
Jefferson, GA (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.65%
Wooster, OH (FHA|USDA|VA) 1 $185,000 $185,000 $3,026 3.25%
TERRE HAUTE, IN (FHA|USDA|VA) 2 $180,000 $90,000 $1,848 3.63%
Boone, NC (FHA|USDA|VA) 1 $175,000 $175,000 $3,476 2.38%
Decatur, IN (FHA|USDA|VA) 1 $155,000 $155,000 $0 1.49%
Greensburg, IN (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $135,000 $135,000 $2,814 2.88%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 2.50%
Seymour, IN (FHA|USDA|VA) 2 $120,000 $60,000 $2,413 3.50%
Bedford, IN (FHA|USDA|VA) 3 $115,000 $38,333 $0 6.83%
North Vernon, IN (FHA|USDA|VA) 2 $110,000 $55,000 $0 3.63%
OCALA, FL (FHA|USDA|VA) 1 $105,000 $105,000 $2,722 2.75%
Washington, IN (FHA|USDA|VA) 1 $85,000 $85,000 $4,501 4.25%
Huntington, IN (FHA|USDA|VA) 2 $70,000 $35,000 $0 1.49%
Richmond, IN (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.49%

Horizon Bank's top markets include Indianapolis, Chicago, Michigan City, Niles, and Kalamazoo among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 4,932 $902,460,000 $182,981 $2,741 2.97%
FHA 105 $16,565,000 $157,762 $4,962 3.42%
USDA 21 $2,405,000 $114,524 $3,256 3.38%
VA 19 $3,915,000 $206,053 $6,217 3.13%

For the 2021 period, Horizon Bank's most frequently originated loan type of loans were Conventional, with 4,932 originations. Their 2nd most popular type is FHA, with 105 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,534 $381,390,000 $248,625 $3,117 3.27%
Refi 1,396 $290,900,000 $208,381 $2,556 2.87%
Home Improvement 1,220 $100,900,000 $82,705 $104 2.70%
Cash Out Refi 693 $135,285,000 $195,216 $3,214 3.19%
Other 234 $16,870,000 $72,094 $170 2.67%

For the 2021, Horizon Bank's most frequently cited loan purpose of loans were Home Purchase, with 1,534 originations. The 2nd most popular reason of loans were Refi, with 1,396 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 2,068 $253,620,000 $122,640 $3,364 2.48%
30 Year 1,800 $404,110,000 $224,506 $3,067 3.29%
15 Year 611 $96,885,000 $158,568 $2,440 2.85%
20 Year 218 $37,730,000 $173,073 $2,613 3.42%
10 Year 169 $38,385,000 $227,130 $1,509 3.55%
30+ year 112 $63,470,000 $566,696 $5,635 3.32%
5 Year 92 $14,620,000 $158,913 $0 6.58%
3 Year 4 $11,520,000 $2,880,000 $0 6.96%
1 Year 3 $5,005,000 $1,668,333 $0 3.93%

For the 2021, Horizon Bank's most frequently cited loan length of loans were Other, with 2,068 originations. The 2nd most popular length of loans were 30 Year, with 1,800 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,778 $334,580,000 $188,178
$1k-2k 753 $184,325,000 $244,788
$2k-3k 239 $59,625,000 $249,477
$3k-4k 132 $31,980,000 $242,273
$5k+ 28 $8,700,000 $310,714

$3,067 of loans were Horizon Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,778 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 2,019 $479,675,000 $237,580
<2.5% 1,513 $164,985,000 $109,045
2.5-3% 1,009 $221,955,000 $219,975
4-5% 369 $51,195,000 $138,740
5-6% 66 $4,300,000 $65,152
Over 8% 59 $895,000 $15,169
6-7% 26 $1,530,000 $58,846
7-8% 15 $745,000 $49,667

During 2021, Horizon Bank's average interest rate of loans were 3.29%, while their most frequently originated rate bucket of loans were 3-4%, with 2,019 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 2,056 $113,060,000 $54,990 $1,844 2.99%
$100k-200k 1,679 $238,235,000 $141,891 $2,700 2.94%
$200k-400k 974 $262,310,000 $269,312 $3,394 2.98%
$400k-600k 216 $103,730,000 $480,231 $4,138 3.09%
$600k-1MM 98 $71,770,000 $732,347 $3,963 3.23%
$1MM+ 54 $136,240,000 $2,522,963 $6,418 3.44%

2021 saw Horizon Bank place emphasis on $100,000 or less loans with 2,056 originations, totaling $113,060,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 1,030 $125,010,000 $121,369 $2,649 3.05%
$100k-150k 1,009 $163,475,000 $162,017 $2,890 2.86%
$50k or less 949 $88,055,000 $92,787 $2,474 3.13%
$75k-100k 788 $117,990,000 $149,734 $2,816 2.95%
$150k-250k 755 $166,235,000 $220,179 $3,391 2.90%
$250k+ 418 $152,160,000 $364,019 $3,907 2.84%

Horizon Bank lent most frequently to those with incomes in the $50k-75k range, with 1,030 originations. The second most popular income band? $100k-150k, with 1,009 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,396 $213,950,000 $153,259 $2,741 2.95%
30-36% 951 $158,265,000 $166,420 $2,821 2.95%
<20% 915 $142,025,000 $155,219 $2,712 2.82%
42% 204 $35,210,000 $172,598 $2,962 2.85%
43% 180 $26,700,000 $148,333 $3,091 2.85%
36% 169 $31,275,000 $185,059 $2,924 3.23%
37% 160 $25,260,000 $157,875 $2,665 3.08%
38% 153 $25,695,000 $167,941 $2,931 3.00%
40% 152 $27,780,000 $182,763 $3,117 3.11%
39% 145 $24,155,000 $166,586 $3,045 3.07%
41% 143 $24,855,000 $173,811 $2,849 2.93%
44% 104 $21,090,000 $202,788 $3,077 3.10%
45% 63 $10,455,000 $165,952 $3,269 3.06%
49% 58 $12,840,000 $221,379 $2,956 3.25%
47% 58 $12,280,000 $211,724 $3,280 3.29%
48% 53 $11,605,000 $218,962 $3,091 3.38%
46% 51 $9,785,000 $191,863 $2,668 3.32%
50-60% 25 $3,905,000 $156,200 $3,623 3.79%
>60% 21 $4,185,000 $199,286 $100 3.14%

Horizon Bank lent most frequently to those with DTI ratios of 20-30%, with 1,396 originations. The next most common DTI ratio? 30-36%, with 951 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 4,526 $736,340,000 $162,691 $2,844 2.96%
Not applicable 60 $101,270,000 $1,687,833 $0 4.08%
Not provided 307 $52,065,000 $169,593 $2,821 2.97%
Asian 62 $16,830,000 $271,452 $2,950 2.84%
Black 97 $15,005,000 $154,691 $2,961 3.41%
American Indian 14 $2,730,000 $195,000 $2,634 3.05%
Native Hawaiian 10 $990,000 $99,000 $2,228 3.00%
Asian Indian 1 $115,000 $115,000 $3,845 3.63%

Approval Rates

Total approvals of all applications
80.13%

Horizon Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
87.45%

Horizon Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 5,077 $925,345,000 $182,262

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
5,077 $925,345,000 $182,262

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 983 $105,095,000 $106,913 $1,931 2.68%
40-60% 773 $136,945,000 $177,160 $2,560 2.83%
60-80% 1,339 $388,215,000 $289,929 $3,154 3.14%
80-100% 975 $240,035,000 $246,190 $3,151 3.21%
Over 100% 10 $3,040,000 $304,000 $8,672 3.15%
Under 20% 993 $48,705,000 $49,048 $357 2.97%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Horizon Bank 1 Parkman Drive Westville, IN 46391 Full Service B&M $14,812
Horizon Bank 17400 State Road 23 South Bend, IN 46635 Full Service B&M $13,281
Horizon Bank 1909 East Bristol Street Elkhart, IN 46514 Full Service B&M $14,872
Horizon Bank 1980 Northwestern Avenue West Lafayette, IN 47906 Full Service B&M $32,834
Horizon Bank 2 South Perry Street Attica, IN 47918 Full Service B&M $44,457
Horizon Bank 210 West Lake Street Topeka, IN 46571 Full Service B&M $7,605
Horizon Bank 2102 East Center Street Warsaw, IN 46580 Full Service B&M $18,530
Horizon Bank 212 West Seventh Street Auburn, IN 46706 Full Service B&M $91,581
Horizon Bank 2134 Greenbush Street Lafayette, IN 47904 Full Service B&M $26,868
Horizon Bank 2151 West Grand River Okemos, MI 48864 Full Service B&M $56,397
Horizon Bank 250 Pearl Street Nw Grand Rapids, MI 49503 Full Service B&M $110,502
Horizon Bank 2555 Crooks Road Troy, MI 48084 Full Service B&M $177,245
Horizon Bank 2608 Niles Road Saint Joseph, MI 49085 Full Service B&M $42,299
Horizon Bank 2650 Willowcreek Road Portage, IN 46368 Full Service B&M $98,158
Horizon Bank 2825 S Washington St Kokomo, IN 46902 Full Service B&M $6,321
Horizon Bank 2901 East Market Street Logansport, IN 46947 Full Service B&M $132,242
Horizon Bank 301 Boyd Boulevard Laporte, IN 46350 Full Service B&M $33,191
Horizon Bank 301 South Street Lafayette, IN 47901 Full Service B&M $128,624
Horizon Bank 302 N. Alabama Street Indianapolis, IN 46204 Full Service B&M $286,704
Horizon Bank 303 Defiance Street Howe, IN 46746 Full Service B&M $5,498
Horizon Bank 307 East Jackson Street Attica, IN 47918 Full Service B&M $0
Horizon Bank 3250 West Centre Avenue Portage, MI 49024 Full Service B&M $93,379
Horizon Bank 330 North Creasy Lane Lafayette, IN 47902 Full Service B&M $31,718
Horizon Bank 3501 Central Avenue Columbus, IN 47203 Full Service B&M $31,589
Horizon Bank 3599 Grant St Gary, IN 46408 Full Service B&M $521
Horizon Bank 3602 Cougill Lane Lafayette, IN 47909 Full Service B&M $16,186
Horizon Bank 3631 South Franklin Street Michigan City, IN 46360 Full Service B&M $151,969
Horizon Bank 655 Third Street Columbus, IN 47201 Full Service B&M $78,308
Horizon Bank 6801 West U.S. 12 Three Oaks, MI 49128 Full Service B&M $31,763
Horizon Bank 710 Indiana Ave La Porte, IN 46350 Full Service B&M $225,769
Horizon Bank 77 E 8th St Holland, MI 49423 Full Service B&M $24,625
Horizon Bank 800 Us 31 South Greenwood, IN 46143 Full Service B&M $31,072
Horizon Bank 811 Ship Street Saint Joseph, MI 49085 Full Service B&M $78,544
Horizon Bank 8590 Broadway Merrillville, IN 46410 Full Service B&M $87,692
Horizon Bank 902 Lincolnway Valparaiso, IN 46383 Full Service B&M $84,718
Horizon Bank 9835 Lima Road Fort Wayne, IN 46818 Full Service B&M $11,759
Horizon Bank Johnson Road And Cr 400 N Michigan City, IN 46360 Full Service B&M $44,090
Horizon Bank Three Notch Lane Bargersville, IN 46106 Full Service B&M $45,961
Horizon Bank Us Highway 12 And Union Road Union, MI 49130 Full Service B&M $25,083
Horizon Bank 117 East First Street Wanatah, IN 46390 Full Service B&M $62,372
Horizon Bank 1200 North Baldwin Avenue Marion, IN 46952 Full Service B&M $64,120
Horizon Bank 1212 S Randolph St Garrett, IN 46738 Full Service B&M $18,732
Horizon Bank 1213 West Michigan Three Rivers, MI 49093 Full Service B&M $63,218
Horizon Bank 1216 West Carmel Drive Carmel, IN 46032 Full Service B&M $24,896
Horizon Bank 123-129 South Main Street Columbia City, IN 46725 Full Service B&M $36,931
Horizon Bank 126 East 5th Street Michigan City, IN 46360 Limited, Drive-thru $0
Horizon Bank 1300 North Main Street Crown Point, IN 46307 Full Service B&M $30,302
Horizon Bank 1321 - 119th Street Whiting, IN 46394 Full Service B&M $32,995
Horizon Bank 1349 Calumet Avenue Hammond, IN 46394 Full Service B&M $24,292
Horizon Bank 1500 West Lincolnway Laporte, IN 46350 Full Service B&M $164,172
Horizon Bank 151 S. Marlin Drive Greenwood, IN 46142 Full Service B&M $89,362
Horizon Bank 1600 Abbott Road East Lansing, MI 48823 Full Service B&M $97,234
Horizon Bank 411 South Huntington Street Syracuse, IN 46567 Full Service B&M $32,910
Horizon Bank 420 North Morton Street Franklin, IN 46131 Full Service B&M $146,958
Horizon Bank 4208 North Calumet Valparaiso, IN 46383 Full Service B&M $119,332
Horizon Bank 423 South Roosevelt Chesterton, IN 46304 Full Service B&M $94,218
Horizon Bank 433 Anchorage Rd Warsaw, IN 46580 Full Service B&M $23,347
Horizon Bank 436 South California Galveston, IN 46932 Full Service B&M $28,523
Horizon Bank 44 S. 8th Street Noblesville, IN 46060 Full Service B&M $6,979
Horizon Bank 464 North Main Street Frankenmuth, MI 48734 Full Service B&M $20,992
Horizon Bank 500 West Buffalo Street New Buffalo, MI 49117 Full Service B&M $101,836
Horizon Bank 507 North Main Street Columbia City, IN 46725 Full Service B&M $7,206
Horizon Bank 515 Franklin Street Michigan City, IN 46360 Full Service B&M $644,295
Horizon Bank 5710 Eastman Avenue Midland, MI 48640 Full Service B&M $150,495
Horizon Bank 625 S. Wayne Street, P.O. Box 7 Waterloo, IN 46793 Full Service B&M $18,752
Horizon Bank 100 West Main Street Edinburgh, IN 46124 Full Service B&M $55,113
Horizon Bank 102 East Main Street Mentone, IN 46539 Full Service B&M $25,473
Horizon Bank 102 S Market Street Delphi, IN 46923 Full Service B&M $41,734
Horizon Bank 1041 East Napier Avenue Benton Harbor, MI 49022 Full Service B&M $17,705
Horizon Bank 10429 Calumet Avenue Munster, IN 46321 Full Service B&M $37,008
Horizon Bank 105 Main Street Avilla, IN 46710 Full Service B&M $12,729
Horizon Bank 106 West Columbia Street Flora, IN 46929 Full Service B&M $52,084
Horizon Bank 110 West Main Street Fort Wayne, IN 46802 Full Service B&M $34,834
Horizon Bank 112 South Washington St Kokomo, IN 46901 Full Service B&M $43,737
Horizon Bank 114-118 S. Detroit Street Lagrange, IN 46761 Full Service B&M $17,598
Horizon Bank 116 West Mitchell Street Kendallville, IN 46755 Full Service B&M $31,381

For 2021, Horizon Bank had 76 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $199,942
Net interest income $187,404
Total noninterest income $57,014
Gross Fiduciary activities income $7,420
Service charges on deposit accounts $19,256
Trading account gains and fees $0
Additional Noninterest Income $30,338
Pre-tax net operating income $107,793
Securities gains (or losses, -) $914
Income before extraordinary items $91,984
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $91,984
Minority interest net income $0
Net income $91,984
Sale, conversion, retirement of capital stock, net $0
Net operating income $91,207

Horizon Bank's gross interest income from loans was $199,942,000.
Horizon Bank's net interest income from loans was $187,404,000.
Horizon Bank's fee based income from loans was $19,256,000.
Horizon Bank's net income from loans was $91,984,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $12,538
Provision for credit losses $-2,084
Total noninterest expense $138,709
Salaries and employee benefits $72,161
Premises and equipment expense $12,498
Additional noninterest expense $54,050
Applicable income taxes $16,723
Net charge-offs $1,641
Cash dividends $21,000

Horizon Bank's interest expense for loans was $12,538,000.
Horizon Bank's payroll and benefits expense were $72,161,000.
Horizon Bank's property, plant and equipment expenses $12,498,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 1.0%
HELOC loans 0.0%
All other family 1.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $5,856,898
Deposits held in domestic offices $5,856,898
Deposits by Individuals, partnerships, and corporations $4,319,462
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $1,537,436
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $635,575
Demand deposits $368,156
Nontransaction accounts $5,221,323
Money market deposit accounts (MMDAs) $826,317
Other savings deposits (excluding MMDAs) $3,664,120
Total time deposits $730,886
Total time and savings deposits $5,488,742
Noninterest-bearing deposits $1,414,245
Interest-bearing deposits $4,442,653
Retail deposits $5,529,457
IRAs and Keogh plan accounts $116,210
Brokered deposits $31,904
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $7,338,072
Cash & Balances due from depository institutions $591,759
Interest-bearing balances $503,928
Total securities $2,712,580
Federal funds sold & reverse repurchase $0
Net loans and leases $3,546,453
Loan and leases loss allowance $54,286
Trading account assets $0
Bank premises and fixed assets $94,463
Other real estate owned $3,556
Goodwill and other intangibles $191,869
All other assets $197,392

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $7,338,072
Total Liabilities $6,546,971
Total deposits $5,856,898
Interest-bearing deposits $4,442,653
Deposits held in domestic offices $5,856,898
% insured (estimated) $59
Federal funds purchased and repurchase agreements $130,798
Trading liabilities $0
Other borrowed funds $525,484
Subordinated debt $0
All other liabilities $33,791

Issued Loan Types

Type Value (in 000's)
Net loans and leases $3,546,453
Loan and leases loss allowance $54,286
Total loans and leases (domestic) $3,600,739
All real estate loans $2,534,738
Real estate loans in domestic offices $2,534,738
Construction and development loans $187,025
Residential 1-4 family construction $45,557
Other construction, all land development and other land $141,468
Loans secured by nonfarm nonresidential properties $1,085,286
Nonfarm nonresidential secured by owner-occupied properties $472,041
Commercial real estate & other non-farm, non-residential $613,245
Multifamily residential real estate $313,746
1-4 family residential loans $915,438
Farmland loans $33,243
Loans held in foreign offices $0
Farm loans $23,429
Commercial and industrial loans $429,698
To non-U.S. addressees $0
Loans to individuals $438,192
Credit card loans $0
Related Plans $2,895
Consumer Auto Loans $400,993
Other loans to individuals $34,304
All other loans & leases $174,682
Loans to foreign governments and official institutions $0
Other loans $124,783
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $2,391
Non 1-4 family restructured loans & leases $604
Total loans and leases (foreign) $0

Horizon Bank had $3,546,453,000 of loans outstanding in 2021. $2,534,738,000 of loans were in real estate loans. $187,025,000 of loans were in development loans. $313,746,000 of loans were in multifamily mortgage loans. $915,438,000 of loans were in 1-4 family mortgage loans. $23,429,000 of loans were in farm loans. $0 of loans were in credit card loans. $400,993,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 1,547 $322,722 $208,612
Nonfarm, nonresidential loans - <$100k 266 $8,669 $32,590
Nonfarm, nonresidential loans - $100-250k 524 $55,058 $105,073
Nonfarm, nonresidential loans - $250k-1MM 757 $258,995 $342,133
Commercial & Industrial, US addressed loans - <$1MM 3,976 $254,554 $64,023
Commercial & Industrial, US addressed loans - <$100k 2,237 $43,520 $19,455
Commercial & Industrial, US addressed loans - $100-250k 1,091 $78,979 $72,391
Commercial & Industrial, US addressed loans - $250k-1MM 648 $132,055 $203,789
Farmland loans - <$1MM 127 $14,982 $117,969
Farmland loans - <$100k 28 $1,000 $35,714
Farmland loans - $100-250k 64 $6,729 $105,141
Farmland loans - $250k-1MM 35 $7,253 $207,229
Agriculture operations loans - <$1MM 159 $8,520 $53,585
Agriculture operations loans - <$100k 107 $2,177 $20,346
Agriculture operations loans - $100-250k 30 $2,488 $82,933
Agriculture operations loans - $250k-1MM 22 $3,855 $175,227