HBNC - Earnings call 3 2023 | Horizon Bancorp, Inc.

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Operator

Good morning, everyone, and welcome to the Horizon Bancorp Inc. Conference Call to discuss financial results for the third quarter of 2023. All participants will be in listen-only mode. [Operator's Instructions]After today's presentation, there will be an opportunity to ask questions. [Operator's Instructions] Please note this event is being recorded.

over statements please nature. that call call that the contain may are turning to remember management, today's Before forward-looking in statements to risks, could to noted in discussed, are other factors These that presentation. factors including uncertainties those cause materially differ and results slide from those actual subject

cause factors the and differ its filings results with materially recent is information about actual most XX-K Additional contained and Form Commission. Exchange Securities that could to in Horizon's later

measures in that refer understand no may to The forward-looking financial during call. any help for certain management statements company update intended addition, investors the are non-GAAP Horizon's these In to measures the assumes Reconciliations business. to made are obligation contained presentation.

release Executive at presentation Officer taking Vice and Horizon Lynn yesterday, Thomas Vice Mr. For Executive the company's over Thomas Chief today President the Commercial the by Financial to Banking this Prame. supplemental a Secor; turn who and Chief anyone not and time, the like I press already issued access and go call does Officer, horizonbank.com. and to Chief Kerber, Executive would have are Representing ahead. Officer; President, Please At Prame. website, President Horizon the copy of Mark

Thomas Prame

in manage resilient Good update positive you'll the a to third credit in Within our and performance. morning, to commercial foundation expenses income stable our first growth the position move and well a strategically quarter Vice we you noninterest comments we on conservatively full of loan insight and believe on you introduce deposit were expand today, franchise. will performance Lynn? into team Not capital our third that our unlike pricing We're highlighted strong see continue for remains our Banking will and our our quarter outlook team, as share more our and us participating. revenue quality to year and sources, core manage quarter our and and the and into and Executive liquidity Officer, performance. pleased risk half provide offer maintain very well, we XXXX, credit sheet, continues and President we Commercial me detail presentation, thank let for balance Kerber, our by results, that manage portfolios Chief our increase an ample as fourth XXXX. lending results We'll led Lynn banking portfolio to by

Lynn Kerber

Thank million Net that $XXX XX.X% the you, million Thomas. for on increased $XX.X the for or commercial to second we third fundings show were the quarter quarter basis. quarter. annualized Beginning an Slide $XX for versus X, loans on million

commercial new average production. for X.XX% Our yield for X.X% portfolio the and was loan

New and be expansion is In very some pipeline from loan industries. which Activity of $XXX increased our million originations this XX. third low in originations and to be year-to-date Michigan of industrial, and in across basis. X/X of loans past our nonperforming June Commercial X quarter, basis quarter remains charge-offs end, in $XXX dues with Indiana. were on as the million quality September in to diverse commercial XX The to continuation a net by with were point an XX% X and and diversified quarter for credit industry annualized strong XX% well continues the points of basis geography decreased category. XX% continue markets commercial at overall commercial

to X. Turning Slide

new sites. economic production. for to of reflective in intentional quarter, balances the direct This redeploying strategic with of during partially This increased loans. X.XX% for product higher-yielding for $XX consisted consumer our X.XX% Consumer change will third broader the in indirect equity production. is the in X.XX% and dues new by which The indirect consumer in past increases Indirect average for runoff portfolio million consumer increase average of offset Consumer see the mix loans. yield for auto directed X.XX% consumer You conditions. increased both consistent was loan The direct that was yields quarter primarily was portfolio plan the capital and for and home

Direct stable. However, basis remained indirect consumer of for Year-to-date, consumer X net charge-offs XX nonperforming charge-offs loans quarter. for net a mortgage are loan points. Slide performance were the Consumer basis and point our recovery X highlights

with to production average and Thus is loan Our expectations X.XX% our X.XX% the production. in yield payment new was XX% mortgage for far, this our high-quality our homes. trends. capacity portfolio With salable. borrowers significant was with and with for industry consistent of for aligning The and equity for charge-offs reflect XXXX, continues for XXXX, portfolio stable their quarter, portfolio X the year-to-date

for be as continued strong, improved the for representing asset loans. Net basis total XX to dues third $XXX,XXX, quarter on points loans metrics points be at of continue basis the to Slide charge-offs average loans to to Past of quarter. XX. outlined Our quality X.XX%. low Nonperforming were

$XX.X nonperforming quality approach credit at representing gross and classes lending is our of current Finally, to given loans, and of maintained across is charge-offs we of level all and forecasts. million, our total dues history and lending. for allowance past of economic was and our low which consistent losses performing appropriate well-balanced believe well reflects X.XX% the Credit

who our turn provide Now deposit Thomas an things will of back to portfolio to and I'd trends. overview like

Thomas Prame

base, insight Slide the detail. to in is which I start Transitioning appreciate #XX. deposit our Lynn. to you, going Thank on the

and these about with noted, As years. granular Horizon client portfolio relationship majority has be of transactional average very of to a held XX A that in tenure our continue Horizon to an well. and balances seasoned know trust accounts

being portfolio balances the QX, XX% of than in uninsured. displayed Additionally, less

Horizon's balances. with the stated needs portfolio, remarks, my team funding continues very pleased funding be stability resiliency upbeat limiting third and wholesale on opening and provides the additional Slide to quarter maintaining its our core we're the brokered of I very deposit from and/or in about XX performance, detail As On strength.

funds total stable also changes some and funds liquid balances. with excess The the X.XX% combined core balances relationships minimal quarter. and were in were experienced commercial pressures portfolio approximately for heightened changed Our quarter. consumer balances Public pricing this stable for

options. funding compared rate brokered capacity to borrowing ample significantly flat when alternative portfolio if other to closed borrowings with fixed cost and the lower needed. However, wholesale The CDs available continues maintain quarter of with a

As securities positive end operations This QX. from in fourth to portfolio provided deposit we in position our flows of the quarter or in saw flexibility funds liquidity and continue $XX will a the asset at pricing. for QX, sold growth Fed provide options cash of million higher-yielding excess

to terms of the in previously, mentioned deposit in funding. portfolio our strong As deliver continues flexibility resiliency and results stability,

Mark will walk over and Vice who income through Executive the Mark? metrics presentation our Financial current statement highlights President QX. our Let me hand to Officer, key our financial and and Chief Secor, for

Mark Secor

Thank you, Thomas.

quarter positive third results were Our many fronts. on

team, to the growth In public higher production yielding loan from interest and disciplined putting As we liquid had Lynn new yielding interest shifted on our funds, operating elevated margin commercial continued the in lower and assets near pressure spreads to respect experienced QX, and a net net and into we quality improved on and strong income loan income loans. term. the deposit pressure loan noninterest credit stated, approach expenses model growth commercial and in

net and However, interest we Slide income sheet our by increases balance improvement the actively to the will improving XX. with begin pricing quarter Starting manage longer The Noninterest while was over margin income other linked most term. and continue over the led our is sale of diversify sale line on consistent. continuing mortgages assets, income core model. align that relationship of from other company remain with gain banking categories items in to fee to

additional to investments contribute Going XX. management and fee private income wealth our forward, we capabilities treasury revenue Slide mix. in also to Horizon's expect

a strength assets Our efforts to be manage quarter for for X.XX% of to quarter. continues were last Horizon. our X.XX% compared expenses Noninterest operating expenses to the average

focus with FDIC consistently business based compensation. an and expenses opportunities streamline of expense were lower to stable a insurance in processes the that improved third reduce expenses can this XXXX. elevated was throughout lower expenses expect in Noninterest even in to priority, Our quarter it categories. and benefits slightly and being long-standing quarter-over-quarter reviewing commitment model reductions to continue commissions remain on agile offset to you other be variable and modest other by part in our and Salary several headcount modestly our

displayed XX. maintained and spread Our loan Slide deposit strong as a pricing management on

the in and deposit pricing spread median improve healthy, to time. over Horizon's remains compares Per's results and pricing ability products. disciplined focus favorably a higher-yielding point XXX The basis loan believe recent on narrowed our in loan highlight we it While production loan a to new and originating quarter, loan has the for greater

loan spread product management, continue into at higher-yielding and reinvestment on shift We higher cash to rates. flow products loan will focus

also these to results our market competitive market reflect end in highly Of durable relationships retain quality, efforts for deposits. a course,

an from million years $X.X totaled end book portfolio end. X.XX% had down yield Slide duration the quarter Moving $XX portfolio June the quarter, to It investment of of on effective XX. X.X the of and billion a the at The XX. at

We actively open originally to assets the for earnings were regulatory in to we but to is options strategic XX, investments requirements have outlook of the to total longer-term months, $XXX to total the in improve that to of identified this growth are held ratios sufficient future. well additional review believe the portfolio $XX Expected considered duration of we from and for estimated the capital XX X.X continues million longer remainder and over solid be cash well portfolio. we above will months, anticipate the our capital than to growth be As required during capitalized, to Slide flows available-for-sale continue years XXXX Horizon next that a maintain strength. million maturity, next outpace portfolio. providing foreseeable be the as capital in investments the XX options

current use uncertain XX, cover holding capital maintain Slide our door previously, for likely. including current helps company earnings additional stability organic make as the And shareholder to The for open conditions is cash market to adequate strategies position mentioned Horizon's strong a focus with M&A the the at in cash earnings. keeps opportunities of quarters dividend. cash on times. shown to As and less growth of continue as provide costs, position X improve fixed we

discussions and revenue lift-outs. open new profitable acquisition for remain we opportunities, in However, and both receptive to

continue expect our XX-year-plus price, Based targeted current dividend dividend to our payout We XX%, stock to provides continuing uninterrupted higher our XX% of our relative on yield of sector. a cash the quarterly ratio to dividends. year

our on and you quarter ahead update current provide year an expectations Looking with Slide XX, full fourth the for XXXX. on we

be contributors in Our loan quarters. to consumer in growth which commercial earnings and subsequent solid core be sectors to both continues should valuable

year and XXXX, fourth full the total X% loan respectively. X% and to X% For we quarter expect to growth, X%

and X.XX% and a from for the X.XX% net quarter the net for our interest interest interest to to fourth balance income continue we of trends and And sheet whole pricing X.XX% year. net should Our management. to margin expect benefit margin X.X%

treasury the to $XX million of $XX quarter of in million to its of investments with and management and all for seasonal as in income million XXXX. early million impacted near of $XX managed income consistent net across of The organization, million reaches floor from mortgage in the for to Noninterest to proactively margin assuming of lending. noninterest current XXXX. in in mortgage expenses a QX softening of such anticipation expect of quarter million range the Fed $XX $XX rate and terminal and segments fourth by rates, should target rising We We to specifically the a $XXX in XXXX, our consumer income levels wealth interest interest anticipate be to income million fee fourth 'XX. reach lending. total $XXX quarter continue million continue in fourth net $XX in the and business our funds its Noninterest expected the the

management top invest talent treasury to our contribute XXXX. revenue-generating to to in intend in lending also and in teams We commercial line

in expect As This a million million noninterest quarter. expense we million for million in $XX range of to about result to the from $XXX year. $XXX noninterest result, to the fourth $XX expenses would

year. rain of expect also quarter these assets for expenses X.XX% We and average to full below the the fourth

XX and the ROAA slightly XX lower and We ROAE XX basis for next points and Our are fourth year. be the to quarter. to range ROAA from operating anticipate basis in between XX for the and quarter expected points metrics,

for We to X.X% the XXXX. XX% expect and ROAE X% to between range the full fourth for quarter year from and X.X%

XX, for TCE on ratio X.X%. the are expecting to Finally, December X.X% we

Thomas final it turn to will some I for Now comments. over

Thomas Prame

Mark. you, Thank

why invest Horizon. So in

of active The strategy deposit to to portfolio of ecosystems which for Midwest investment markets with a billion, management expense desirable significant investment ensure only communities. X.XX% its Our of of of attractive have X shifting our well average Horizon on our and economic operating in growth our with located assets culture loans. is infrastructure profile. markets. and less maintaining annual significant disciplined success And has growth its simple. flourishing low risk conservative and the providing to higher-yielding and base coupled funding and clients than achieves Horizons net shareholders. thesis execute we to to while environments, ratio liquidity These expect operating and a be track is underwriting annualized credit We're consistent record stable business assets, for our excess low continues charge-offs points This and a strategies. loyal basis to nimbleness $X.X our franchise historically flexibility consistently of XXXX. nonperforming demonstrated

our years advance a to uninterrupted morning. our remarks. We dividend a in our We This yield. our joining are of a shareholders. presentation X% track P/E of of dividend a XX-plus support concludes value our commitment to for stock, cash has you very quarterly ratio compelling Horizon prepared dividends with and thank X.Xx record this

I'll for now up open the So the questions. operator, please ask line

Operator

we begin comes So first [Operator's from session. now Instructions]And question-and-answer will our McEvoy the Stephens. question from Terry

Terence McEvoy

Maybe Mark, expect your interest future? quarter the for is margin assuming thoughts margin bottom curve the to on for interest the a correct, in net net Any you on start you'd with the or where thoughts margin. the when you. possibly would or Thanks expect question forward income fourth

Mark Secor

close. it's We think

the As to of we said, it are second based barring in quarter what any the X to we will 'XX, that were in in as see rates get months rate coming think the that then the and quarter year, second half margin modeling. see rates trough the down half saw coming What our start seeing into benefit. first we'll up if the by change start of next on we the this last expectations stabilized. We're of tick current we major more we out that

going idea what good we're So we pretty coming have the of quarter. a fourth into into

Terence McEvoy

open Great. investing how to treasury on teams. in about And initial and management then commercial in growth just comments thoughts expense manage listening to Any your hiring you XXXX?

Lynn Kerber

question. are additional There for would diversify contribution that help the to goal to staffing cost Terry, looking Thanks of our staffing. Kerber. additional better Yes, it's funding and base that are increase. some The department. the a in some adding corporate Lynn expenses offset lower that we staff virtue and is related treasury our of deposit that at

adding some that be on for members there's assets paying On salary. would that. team think assist it going commercial the side, I to their in a be be And that will some payback would fairly short

Operator

Piper our Nathan next from And question from Race comes Sandler.

Nathan Race

kind an to how expectations your the to asset thinking asset margin getting you curious quarter. the wholesale seeing think full the base $XXX the for the on year. I'm fourth earning trying guidance Just to expectations just that maybe based of to wind margin the of just pipeline contemplates I guess to terms $XXX get I'm size Are some what of million guys the given for to fourth earning deposit million in about of lower bring $XXX quarter. opportunity kind just that down out base? of to through about funding to million $XXX Or

Thomas Prame

we When use Nathan, we'll the it's lower excess to look relatively quarter. cash it asset Sure. as type compared structured cost our pay did going fourth is of position relatively Tom. When actually that at have you to any this alcohol the higher will borrowings. question. at the look going into third side borrowing, overnight quarter, borrowing. cost a down at I imagine consistent we our We we're left to appreciate be the

quarter to fourth funds consistent pay So would balance of which that going fourth the funds would borrowings, into saw be any in be down consistent public likely higher-priced Excess we elevation the type will relatively third quarter. third and going be some sheet borrowing quarter. on say our would most used position we side relatively the

Mark Secor

the so received swap Yes. it's if quarter. it And unadjusted, we in you includes the year, make that recall, adjusted, that's not third gain that full

Nathan Race

Understood. what just about on forward color of Got quarter And kind loan rate in third longer the production environment. of trajectory just Any was kind of for higher on of rate yields have thinking the then yields in a the new the the going loan trajectory you how forward? tailwinds kind just Fed of few just over the pauses and with thinking some and quarters, guys you're the of kind kind assuming of that next lows going repricing you. about

Lynn Kerber

on is funds. Kerber, portfolio, new current our commercial cost originations Lynn basing really This Relative to of the we're

sync. much generally been very that's so in And

last rate lag the terms funding. margin over cost the structure pipeline But occurred, the the rate our for of of as few has up catches to the pretty a depending increases as commercial Over and overall, generally, rate, have year, new on been stable. our funds the there's week

rates having I And so see lot a of really variation. that start if to stabilize, don't

Nathan Race

new sounds the when nicely still for it weighted is But the on average it. above kind Got quarter. a production like of now portfolio basis third coming yield on

Lynn Kerber

is. it Yes,

Thomas Prame

I was can the quarter under production and for X.X%. was X.X%. we have at add. X% for average commercial Consumer last was the the presentation, In just mortgage

Nathan Race

And Great. thoughts is the where share early today? kind activities repurchase given the fourth on any quarter in trading next then Okay. lastly, year stock just just of and

Thomas Prame

capital. It that we're always of although at and of to to the right think, doesn't X.X of done buy stock And have funds repurchase. appear plan table use, bit We is best cost quite current that of But now with it's the a it. and in looking we we've repurchase we million have, a constantly cash could shares what ability give up the cost I use valuation on of it.

Operator

[Operator's Damon KBW. DelMonte from question comes from InstructionsOur next

Damon Del Monte

continue wondering, where trends you seeing and But of credit I tied areas just of you something maybe be Obviously, just want to on signs industry early may there any a stress credit. particular off portfolio some or geography? are with to very your strong start guys.

Lynn Kerber

percent our reviewed our And As points, the traditionally our only reduction see is in have a indirect past past of consumer you basis loan overall as our a portfolio. a in having And percentage. while had at if dues. in look portfolio. at automobile. mix, Most which although that deck, primarily those low And in numbers, you still increase we we was increase, we slight XX it's portfolio due been

quarter, indirect that predominantly and so amount that increased hasn't Relative a has increased, the increase And dollar charge-offs while substantially was there. to that this percent did auto.

Thomas Prame

real A auto take the know charge-offs. Page and just indirect please X. review a we've at around our that. on as consumer results, quick I follow-up seen in industry lot I ask a you peek

I because think simply increase though high-quality borrowers. you'll see our Lynn even that see bit is where is, that our in said a the economy we'll portfolio charge-offs consumer consumer a little

our And charge-offs, expecting the different even so trends a that going may direction though we're go are outperform in or on there. to industry consumer

Damon Del Monte

and then to the look guess, a you during COVID broader And I reserve at? respect where others, It's it view like to, with level been as most you comfortable is, settle credit steadily this do marching X.XX% feel down the like at down on that's to quarter. a since peaked is where time obviously of

So about then and we how the provision to think kind the rate reserve there. for of line keep using that do the settling

Lynn Kerber

again. Yes. Thank you

we those during performed bit and retail, certain shared at we've sectors allocated As pandemic, And quite to COVID extremely those previous well. the predominantly pandemic. hotels for portfolios, a the related calls, had

really it's stellar. fact, In

the releasing those over been had we steadily year. so reserves last And

more is what So the core analysis on historic forecast. to based rate returning is and see our loss reserve I that economic you'll think

forecast. think I that so a going And move to predominantly function of be economic we it's forward, as

performed of group if see. quality you look our cycle, losses. low, all generally about can XX% the over back history peer credit business last our as metrics remain over Our we very And you

Mark Secor

Yes, Mark. this is

that the which the indirect, putting losses. there management historical you You have let in assets the judgment historically highest lower charge-up portfolios see is has drive in results our as have to much We're model in categories there. But shrinking. mortgage, and is commercial on like

also So that contributing is to this.

Damon Del Monte

it. Got

at a like and kind ballpark going Okay. fair provisioning quarters estimate X the kind look of first year Mark, mean you are take of I able you changing provision. average the to in is forward? in to rough bit it a maybe here doable of to the and that's do have that quarter? think little need we Or just higher given trends, think broader fourth macro for

Mark Secor

I to might we several But can Lynn charge-offs those. if we at what to last you need in add be think for quarters this. that look replace seeing the

that what looking I a of we're is think guidance probably at. good

Damon Del Monte

effective guess, Okay. tax Great. And at we I I one be XXXX. squeeze look quarter as rate and more if in. then should we the lastly, good just fourth for What's using, then a

Mark Secor

tax pretax earnings, The Thanks continues year. rate from go last have Yes. the question. down earnings to for come effective down as the

are from X%. such. peg we to they're the But continue and forward invest is driving we a around those what's And it's to and tax hard obviously a think where tax carryforward. solar right munis what's And we other But and contributing number. having were income to going pretty to in invest So -- have I in continue say, free just XX-year have now lot. a credits, that that those is credits good are solar at

So the those to rate invest use help down. and marginal keep to want continue to we that in

where think I now is good right we So guidance. are

Operator

from Raymond And question from comes our James. next Long David

David Long

of things Just here. a couple

you are this cash flow built simply contractually but and just that? year. discussed $XX the this million one into comments, XX, those $XXX million then and first maturing? next that assumptions fourth prepayment Slide there are the any formal in scheduled The those Are securities quarter on of Or

Thomas Prame

and It's contractually maturing runoff.

David Long

Got it. it. Got

So if bit those higher. be prepayments, are there a could little numbers

Thomas Prame

once could. in bond we'll that It recalled. And while, a get we see get some see

David Long

here mind interest-bearing to you do you How deposits, as have bit next Do percentage of to deposits. total question, still? will quarters? net a x that think that percent have the mix you level over shifting in see you a about guys. get term? out like And are intermediate that relates you do in it near to you second think thinking more plays few to then contraction noninterest-bearing the little the stabilized there for Where seems And

Thomas Prame

tax in average up from the fourth then what perhaps we see in to is fourth money in slightly cause not funds and group the, that in some quarter take the if happens public quarter. stable, we there the do spending would our consumer see Usually, the relatively

our out and usually clients company. dividend outflow The tax a payments first model an their there for business our quarter deposits people of historically as is think

we I slight year. that say a So the would quarter last seasonality probably first see saw major nothing but decline, concern of from the you just of

Operator

And we Janney Martin a question have Brian Montgomery. now from from

Brian Martin

can Just talk little the bit about bit getting thinking a wondering little you're if and a kind where on loan you yield. -- better more growth you talked just being about what on of targeted

point where liquidity pickup of to yield continued today kind have. levels Just have you're expecting that little you're runoff. kind maybe you guys the -- at still like just sounds the just focused bit and there indirect a of on But on maybe some it with us

Thomas Prame

reflective for go the the anticipate there. macro our be I quarters. on question. talk primarily from say pass to our that segments for commercial specifically natural The Thanks I'll the sheet, still a relatively is balance next commercial. growth start it seeing level the about about in of neared and which I'll in the runoff pricing. be a of to several and talked indirect, I'd Lynn will Lynn portfolio over quarter will would this decline forward. on We're a

down pass that's about that are relatively because of Lynn to modestly through payments one prepayments the to talked a there is on been sheet, And giving has about stable, slight of has growth about Our talk been consumer portfolio originations we're slowing balance the I'll the a our I'd there, -- on going up. which then that. up in the with we as the slowdown slight and just, has really but outside -- before, over consistent about segments. in been branches The are originations say, commercial XX% that mortgage And it the seeing uptick. various

Lynn Kerber

Page to has commercial of X you consistent. composition We've for portfolio This our very been got direct portfolio. can slide I deck. a the

when and virtually down C&I originations, is This new our mix. XX%, years. very mirrors quarterly this that the XX%. pipeline is nonowner-occupied our XX%, You'll been our see break last it and And consistent as several has over owner-occupied you

we bit this seeing comments As I of in my made my have continued a year. been we've trend been composition is seek the a And over into increase portfolio And trend earlier, diversify that little sector to go versus It as our more. XX% in expanding we as that next a into C&I we this be in efforts seeing commented continuation a was some will that into of XX%. last year quarter. some C&I.

Brian Martin

on Okay. And kind that loan of the what expect mark, as yield type yield with we the getting number yield about then pickup this liquidity guess, was. you're is talked average on the what we the of that pickup should as growth I -- figures of far Is the goes?

Thomas Prame

Yes.

fourth quarter. deck should we as the Our go pricing and in be the pickup saw in the consistent that you

Brian Martin

All book, at are you you're quarter you that? looking update on what kind give -- just think don't know I if of -- bond got potentially you you just the can Thomas, restructuring still about kind looking at where last I right. And Okay. guys any of at there, talked

Thomas Prame

Thank you the question. for

of leveraging that's whether where Mark that. share I from the security Right looking we're buybacks, put that, capital use the still for think, could always now, evaluating alluded, best we're as balance repositioning we or sheet.

what the be changed saw this really what For next it's with as will and look our curve forward expectations like. rate terminal we where the to us, quarter, the curve is year going happened view here where

we'll believe talked in the pressures leadership Board down still we're have sit probably look the And very as XXXX. about portfolio. stability bottom the Mark we our what like, the deposit but optimistic our at XXXX of margin more some here, into team course, is now still with trough of our as earlier, get that margin strength move we about we we as of view and around capital our Understanding, probably So of deployment there.

Brian Martin

That's And last maybe Perfect. for helpful. one Mark. one just

Just on bottoming. have of was like the the sounds know month for margin mark. I September? the Do it it you spot margin

Mark Secor

at XXX. we adjusted, On Yes. were

Operator

to over like for session. conference this remarks. management And closing would our question-and-answer concludes to I back turn the any

Thomas Prame

Also and speaking reach your We meantime, we you a Horizon In management credit Horizon, participating Thank the call you, And revenue you. in look quarterly have in with to forward believe discipline positioned in valuable any everyone opportunities, thank expense today. appreciate for investment for have culture, happen call appreciate today. Marliese, interest our the that season. questions. next earnings don't our deposit to Thank to franchise, hesitate January. wonderful in in-market help We and holiday to well will your XXXX. of want months final the the out and

Operator

The conference for now has today's you attending presentation. concluded. Thank

may now good day. You Have disconnect. a

Horizon Bancorp (HBNC) 26 Oct 232023 Q3 Earnings call transcript