Horizon Bank Mortgage Rates, Fees & Info
Michigan City, INLEI: P7GC0W65KB5CEIHLDX81
Tax ID: 35-1076581
2021 Data | 2020 Data | 2019 Data | 2018 Data
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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
5,077Origination Dollar Volume (All Markets)
$925,345,000Employee count
900Awards
Horizon Bank - 2021
Horizon Bank is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications80.13%
Horizon Bank has a below average approval rate.
Pick Rate
Approvals leading to origination87.45%
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 |
