Horizon Bancorp, Inc. Releases 2nd Quarter 2021 Financial Highlights, Including Net Earnings of $1,383,000 or $0.33 Per Share, Net Loan Growth (Excluding PPP) of $16,652,000, and Improving Asset Quality Metrics
Earnings were also influenced by a further reduction in cost of funds, net commercial loan growth, and the performance of the government guaranteed loan division.
- Earnings were also influenced by a further reduction in cost of funds, net commercial loan growth, and the performance of the government guaranteed loan division.
- Our primary focus has been on commercial loan production, further reducing the banks cost of funds, and enhancing non-interest income.
- Credit quality metrics are shown in the following table and reflect improvements quarter over quarter and year over year in nonaccrual loans and nonperforming assets.
- The bank maintains an ample allowance for loan and lease loss at 1.48% of total outstanding loans, and this is inclusive of PPP.