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Q2 2026 · read from the 30 June 2026 Call Report · United States · Great Lakes · Indiana, the state note

Horizon Bank

Michigan City, Indiana · $6.55B in assets · beside the 9 other Indiana banks between $3B and $10B

The filing

1.75%
ROA
2nd of 10
1.5x
Coverage of noncurrent
9th of 10
90.6%
Loans / deposits
8th of 10

Horizon Bank is the fourth largest of the 10 Indiana banks between $3B and $10B, with $6.55B in assets at 30 June 2026. Loans are 90.6% of deposits, 8th of 10 against a median of 84.7%, and equity is 12.3% of assets, 3rd of 10. Loans grew -0.5% in the year, 8th of 10, and deposits fell 5.2%; the cohort's median loan growth is +3.2%.

Noncurrent loans are 0.70% of the book, 7th of 10 against a median of 0.55%; 0.43% is 30 to 89 days past due, and the allowance covers them 1.5 times. Commercial real estate is 34.1% of loans, 5th of 10 against a median of 34.7%, and 235% of capital, below the 300% screen, with construction at 32% against the 100% screen.

Return on assets is 1.75%, 2nd of 10 against a median of 1.50%, on an efficiency ratio of 53.5%, 5th of 10. Five years ago it was 1.48%. The question is which of these lines moves first over the next four quarters, and against which peer.

Return on assetsIN banks $3B to $10B · 30 June 2026 · higher is stronger, listed first
median 1.50% sS 1st Source Bank 1.95% HB Horizon Bank 1.75% GA German American Bank 1.70% FF First Farmers Bank & Trust Co. 1.62% LC Lake City Bank 1.61% FF First Financial Bank N.A. 1.39% NB National Bank of Inpolis 1.37% SF Star Financial Bank 0.98% FI First Internet Bank of Indiana 0.31% UF United Fidelity Bank FSB -0.09%
Loans, year over yearIN banks $3B to $10B · 30 June 2026 · no better direction, largest first
median +3.2% NB National Bank of Inpolis +16.1% FF First Financial Bank N.A. +14.7% LC Lake City Bank +6.8% FF First Farmers Bank & Trust Co. +5.6% SF Star Financial Bank +3.2% GA German American Bank +3.2% sS 1st Source Bank +1.7% HB Horizon Bank -0.5% UF United Fidelity Bank FSB -3.3% FI First Internet Bank of Indiana -14.1%

SBA 7(a), FY2008 to FY2026

Horizon Bank is the 12th largest 7(a) lender into Indiana of 351, with $173M across 501 loans, 2.1% of everything approved in the state (The Huntington National Bank leads with $911M). 21 of its 77 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Indiana, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Kalamazoo, MI$28M2nd of 859.3%+1.4 pts
La Porte, IN$25M1st of 5018.4%+1.6 pts
Berrien, MI$25M2nd of 5612.8%+6.5 pts
Hamilton, IN$19M14th of 1322.2%+4.0 pts
Allen, IN$17M8th of 1013.4%-0.1 pts
Marion, IN$16M26th of 1721.0%-0.1 pts
Johnson, IN$16M3rd of 807.0%-5.3 pts
Oakland, MI$13M30th of 1850.5%+2.0 pts
Lake, IN$13M9th of 972.9%+6.7 pts
Porter, IN$12M5th of 616.5%+1.0 pts
St Joseph, IN$12M10th of 663.6%thin
Kent, MI$10M19th of 1240.9%+1.2 pts
Cass, MI$9M2nd of 2620.7%thin
64 smaller markets not shown.
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Manufacturing178$71M21.5%0.18%99th of 2,246
Retail trade113$42M12.9%0.07%203rd of 2,589
Accommodation & food services129$38M11.7%0.05%257th of 2,596
Professional & technical services72$28M8.5%0.09%150th of 1,955
Other services85$27M8.3%0.08%189th of 2,248
7(a) lenders into Indiana, share of approvals since FY2008351 lenders on record; the ten largest and Horizon Bank
TH The Huntington National Bank 11.3% $911M · 4,690 loans KN KeyBank National Association 4.3% $349M · 745 loans BB Byline Bank 4.2% $338M · 296 loans LO Live Oak Banking Company 4.1% $334M · 259 loans ON Old National Bank 3.4% $275M · 416 loans sS 1st Source Bank 3.3% $271M · 1,827 loans FM First Merchants Bank 2.9% $236M · 743 loans G Gbank 2.5% $202M · 68 loans WF Wells Fargo Bank National Associa… 2.3% $188M · 395 loans FF First Financial Bank 2.2% $181M · 610 loans HB Horizon Bank 2.1% $173M · 501 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; owner-occupied excluded; bold marks a screen met
Horizon BankRankCohort median
Total CRE against capital, the 300% screen235%7th of 10223%
Construction against capital, the 100% screen32%3rd of 1049%
Construction and land development, share of loans4.6%2nd of 108.3%
Non-owner-occupied nonfarm nonresidential, share of loans21.5%8th of 1016.7%
Total CRE, the guidance definition, share of loans34.1%5th of 1034.7%
CRE growth over 36 months, the third prong+36.4%5th of 10+37.8%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
1st Source Bank$9.26B2.0%46.5%0.99%0.12%2.3%97.2%13.6%
German American Bank$8.43B1.7%50.9%0.45%0.06%1.3%84.1%13.7%
Lake City Bank$7.24B1.6%45.8%0.36%0.08%1.3%88.0%10.4%
Horizon Bank$6.55B1.8%53.5%0.70%0.05%1.0%90.6%12.3%
United Fidelity Bank FSB$6.49B-0.1%128.2%0.49%0.01%2.4%61.1%10.0%
First Financial Bank N.A.$6.17B1.4%58.7%0.61%0.19%1.1%92.1%10.7%
First Internet Bank of Indiana$5.53B0.3%56.1%1.56%1.70%1.4%79.7%7.9%
First Farmers Bank & Trust Co.$3.50B1.6%46.9%1.00%-0.01%1.6%85.2%9.8%
Star Financial Bank$3.23B1.0%67.7%0.46%0.02%1.1%64.9%9.2%
National Bank of Inpolis$3.04B1.4%56.9%0.15%0.03%1.2%80.4%7.8%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Horizon BankCohort median
20212026Change20212026Change
Loans$3.53B$4.96B+41%$2.72B$4.16B+53%
Deposits$4.91B$5.48B+12%$3.57B$5.16B+45%
NPA / loans0.60%0.70%+0.11 pts0.58%0.55%-0.03 pts
Efficiency56.2%53.5%-2.7 pts55.8%54.8%-1.0 pts
ROA1.48%1.75%+0.28 pts1.31%1.50%+0.18 pts

This read was prepared for Horizon Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Horizon Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort IN banks $3B to $10B
Institution www.horizonbank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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