Horizon Bancorp, Inc. (HBNC) Income Statement
HBNC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHBNC revenue and net income
Where HBNC's revenue goes
2025Each bar shows an amount and its share of revenue. HBNC kept −145.9% of revenue as net income.
HBNC profit margins
HBNC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −71.0% | −28.1% | −16.5% | −0.8% |
| Gross profit | −116.7% | — | — | — |
| Operating income | −829.5% | — | — | — |
| Net income | −524.7% | — | — | — |
| EPS (diluted) | +85.9% | +14.1% | +15.6% | +13.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HBNC quarterly EPS vs estimates
Horizon Bancorp beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 21, 2026 (estimate $0.53).
HBNC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $103.2M | $355.4M | $220.5M | $278.1M | $246.6M | $254.4M | $242.8M | $194.2M | $156.6M | $136.4M |
| Cost of revenue | $133.6M | $173.3M | $76,000 | $34.7M | $16.2M | $55.2M | $49.5M | $34.5M | $18.9M | $22.4M |
| Gross profit | −$30.4M | $182.1M | $324.3M | $243.4M | $230.3M | $199.2M | $193.2M | $159.7M | $137.8M | $114.0M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $108.4M | $93.3M | $82.0M | $82.8M | $76.4M | $72.9M | $65.5M | $58.1M | $52.4M | $45.6M |
| Total operating expenses | $169.1M | $154.8M | $39.0M | $137.8M | $127.9M | $120.8M | $113.4M | $96.2M | $89.8M | $81.3M |
| Operating income | −$199.5M | $27.4M | $39.0M | $105.6M | $102.4M | $78.4M | $79.8M | $63.6M | $48.0M | $32.7M |
| Interest income | $362.8M | $356.5M | $296.0M | $236.0M | $200.0M | $205.4M | $208.3M | $166.2M | $128.5M | $106.5M |
| Interest expense | $133.3M | $167.9M | $146.3M | $36.5M | $18.3M | $34.4M | $47.5M | $31.6M | $16.4M | $20.5M |
| Income before taxes | −$201.2M | $27.4M | $39.0M | $105.6M | $102.4M | $78.4M | $79.8M | $63.6M | $48.0M | $32.7M |
| Income taxes | −$50.7M | −$8.1M | $11.0M | $12.2M | $15.4M | $9.9M | $13.3M | $10.4M | $14.8M | $8.8M |
| Net income | −$150.5M | $35.4M | $28.0M | $93.4M | $87.1M | $68.5M | $66.5M | $53.1M | $33.1M | $23.9M |
| EBITDA | −$187.1M | $39.7M | $39.0M | $118.7M | $116.3M | $90.7M | $89.5M | $70.4M | $53.9M | $38.0M |
| EPS (diluted) | $3.16 | $1.70 | $1.54 | $2.13 | $2.00 | $1.53 | $1.59 | $1.29 | $1.03 | $0.96 |
| Gross margin | −29.5% | 51.2% | 147.1% | 87.5% | 93.4% | 78.3% | 79.6% | 82.2% | 88.0% | 83.6% |
| Operating margin | −193.4% | 7.7% | 17.7% | 38.0% | 41.5% | 30.8% | 32.9% | 32.7% | 30.6% | 24.0% |
| Net margin | −145.9% | 10.0% | 12.7% | 33.6% | 35.3% | 26.9% | 27.4% | 27.3% | 21.1% | 17.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $100.5M | $97.9M | $100.8M | $0 | $101.2M | $105.0M | $63.1M | $101.4M | $96.4M | $94.5M | $61.7M | $90.8M |
| Cost of revenue | $25.9M | $24.8M | $25.8M | $30.9M | $38.6M | $38.3M | $41.4M | $45.0M | $44.1M | $42.8M | $42.5M | $38.3M |
| Gross profit | $74.6M | $73.1M | $74.9M | −$234.6M | $62.6M | $66.7M | $21.7M | $56.3M | $52.4M | $51.7M | $19.2M | $52.5M |
| Sales, general & admin | $27.9M | $27.4M | $36.7M | $24.0M | $23.9M | $23.7M | $26.8M | $23.0M | $21.9M | $21.6M | $23.1M | $21.4M |
| Total operating expenses | $43.8M | $40.7M | $40.6M | $51.7M | $38.2M | $38.6M | $43.6M | $38.2M | $36.5M | $36.4M | $38.0M | $35.0M |
| Operating income | $30.7M | $32.3M | $34.3M | −$286.3M | $24.4M | $28.1M | −$21.9M | $18.1M | $15.9M | $15.3M | −$18.8M | $17.5M |
| Interest income | $88.5M | $86.7M | $89.3M | $92.8M | $91.5M | $89.2M | $93.3M | $90.9M | $87.0M | $85.3M | $83.5M | $80.1M |
| Interest expense | $25.0M | $24.4M | $25.8M | $34.5M | $36.1M | $36.9M | $40.2M | $44.0M | $41.7M | $42.0M | $41.3M | $38.0M |
| Income before taxes | $30.7M | $32.3M | $32.7M | −$286.3M | $24.4M | $28.1M | −$21.9M | $18.1M | $15.9M | $15.3M | −$18.8M | $17.5M |
| Income taxes | $5.8M | $6.2M | $5.8M | −$64.3M | $3.8M | $4.1M | −$11.1M | −$75,000 | $1.7M | $1.3M | $6.4M | $1.3M |
| Net income | $24.9M | $26.2M | $26.9M | −$222.0M | $20.6M | $23.9M | −$10.9M | $18.2M | $14.1M | $14.0M | −$25.2M | $16.2M |
| EBITDA | $30.7M | $35.8M | $35.5M | −$281.0M | $27.3M | $31.1M | −$18.8M | $21.1M | $18.9M | $18.4M | −$15.6M | $20.4M |
| EPS (diluted) | $0.49 | $0.51 | $0.52 | $1.63 | $0.47 | $0.54 | $0.65 | $0.41 | $0.32 | $0.32 | $0.33 | $0.37 |
| Gross margin | 74.2% | 74.7% | 74.4% | — | 61.9% | 63.5% | 34.4% | 55.6% | 54.3% | 54.7% | 31.1% | 57.8% |
| Operating margin | 30.6% | 33.0% | 34.1% | — | 24.1% | 26.8% | −34.8% | 17.9% | 16.5% | 16.2% | −30.5% | 19.3% |
| Net margin | 24.8% | 26.7% | 26.7% | — | 20.4% | 22.8% | −17.2% | 17.9% | 14.7% | 14.8% | −40.9% | 17.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HBNC's financial statements (latest annual report filed March 13, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HBNC financial results
In fiscal year 2025 (ended December 31, 2025), Horizon Bancorp reported revenue of $103.2 million, down 71.0% from the year before. It had a net loss of $150.5 million, a net profit margin of −145.9%. Diluted earnings per share came to $3.16. Over five years revenue grew at an average rate of −16.5% a year.
See the HBNC stock overview for the latest quote and news, or the HBNC chart for price history and technical indicators.
HBNC income statement FAQ
What is Horizon Bancorp's annual revenue?
Horizon Bancorp reported total revenue of $103.2 million for fiscal year 2025, which ended on December 31, 2025. That was down 71.0% from $355.4 million the previous year.
Is Horizon Bancorp profitable?
No. Horizon Bancorp reported a net loss of $150.5 million in fiscal 2025, a net profit margin of −145.9%; its operating margin was −193.4%.
What is Horizon Bancorp's gross margin?
Horizon Bancorp's gross margin was −29.5% in fiscal 2025: for every $100 of revenue, Horizon Bancorp kept $-29 after the direct cost of its products and services.
How fast is Horizon Bancorp growing?
Revenue grew −16.5% a year on average over the last five fiscal years, from $254.4 million to $103.2 million.
What are Horizon Bancorp's earnings per share?
Horizon Bancorp earned $3.16 per diluted share in fiscal 2025, compared with $1.70 a year earlier.
When will Horizon Bancorp report its next earnings?
Horizon Bancorp is expected to report results for the quarter ending September 30, 2026 on October 21, 2026 after the market closes.
When does Horizon Bancorp's fiscal year end?
Horizon Bancorp's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 13, 2026.