Brief: Horizon Bancorp Sold $382.7 Mln In Available-For-Sale Securities

Horizon Bancorp

12/12/2023 21:23

Dec 12 (Reuters) - Horizon Bancorp Inc  HBNC.O :
    * HORIZON BANCORP: ANNOUNCED EXECUTION OF BALANCE SHEET
REPOSITIONING RELATED TO INVESTMENT SECURITIES PORTFOLIO & BANK
OWNED LIFE INSURANCE POLICIES
    * HORIZON BANCORP: SOLD $382.7 MILLION IN AVAILABLE-FOR-SALE
SECURITIES, COMPOSED OF TREASURY, AGENCY, CORPORATE, MUNICIPAL
SECURITIES
    * HORIZON BANCORP: SURRENDERED $112.8 MILLION IN BANK OWNED
LIFE
INSURANCE
    * HORIZON BANCORP: PROCEEDS ARE EXPECTED TO BE RE-DEPLOYED
IN
FIRST HALF OF 2024 INTO HIGHER YIELDING LOANS AND OTHER LIQUID
ASSETS
    * HORIZON BANCORP: Q4 & FY 2023 NET INCOME EXPECTED TO
REFLECT
AFTER-TAX IMPACT OF $32.7 MILLION, INCLUDING $31.6 MILLION
PRE-TAX LOSS ON SALE OF SECURITIES

Further company coverage:  HBNC.O 

 ((Reuters.Briefs@thomsonreuters.com;))