Horizon Bancorp, Inc. Announces Heightened Profits

Lake Havasu City, AZ-November 1, 2017-Horizon Bancorp, Inc. (OTC Pink:HRRB), the holding company for Horizon Community Bank, announced a net income increase of 70 percent for the quarter ended Sept. 30, 2017 over the same period, prior year. Net income through 9/30/17 totaled $1,942,476, an improvement of $797,592 over the first nine months of 2016.

“Our third quarter and year-to-date performance reflects improvements in Interest Income on Loans, Total Interest Income, Net Interest Income and Noninterest Income over last year,” stated President/CEO Jerry Ernst. “While our balance sheet experienced seasonal flattening, loan growth and gain on loan sales provided most of this improvement.”

Its 2017 highlights include:

• 8 percent nine month noninterest deposit growth
• 5 percent nine month total asset growth
• Established loan production offices in Goodyear, AZ and Henderson, NV

Net Recoveries Year to Date allow for lower loan loss provisions and an increase in the Allowance for Loan and Lease Losses.

About the Company
Holding company Horizon Bancorp, Inc. (OTC:HRRB) has $257 million in assets and is headquartered in Lake Havasu City, Arizona. It owns as its sole subsidiary Horizon Community Bank, a locally owned and operated bank with branches in Fort Mohave, Lake Havasu City, Mesa, Parker and Quartzsite, Arizona, plus loan offices in Kingman and Goodyear, Arizona and Henderson, Nevada. It has almost 80 employees and provides high-touch, customized commercial financial services to those in the healthcare, transportation, real estate and technology industries, as well as general commercial and consumer services. FDIC insured. https://www.horizoncommunitybank.com

Forward-Looking Statements
This press release may include forward-looking statements about Horizon Bancorp, Inc. and Horizon Community Bank.  These statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.  Such risks and uncertainties include, but are not limited to, the following factors:  Annualized, proforma and projected or estimated numbers in this release are illustrative only, are not forecasts and may not reflect actual results.  All forward-looking statements are based on information available at the time of this release, and Horizon Bancorp, Inc. and Horizon Community Bank assume no obligation to update any forward looking statements.

Unaudited Financial Information follows.

Horizon Bancorp, Inc. 3Q17 Results
and Horizon Community Bank consolidated
Financial Highlights
Dollars in Thousands, Unaudited
	9/30/2017	6/30/2017	9/30/2016
Gross Loans	$186,346	$176,481	$167,803
Loan Loss Reserve	$2,668	$2,590	$2,451
Total Assets	$257,286	$260,579	$234,173
Noninterest demand	$57,970	$62,800	$50,158
Total Deposits	$223,652	$227,018	$202,581
Securities sold under repurchase agrmts	$3,993	$5,491	$7,235
FHLB Advance	$1,500	$1,500	$1,500
Holding Company Debt (capital to the bank)	$2,385	$2,589	$0
Shareholders Equity	$22,603	$21,647	$20,447
	9 months	6 months	9 months
Operations	9/30/2017	6/30/2017	9/30/2016
Interest Income on Loans	$7,404	$4,802	$6,593
Total Interest Income	$8,062	$5,209	$7,023
Interest  Expense	$813	$518	$711
Net Interest Income	$7,249	$4,691	$6,312
Provision	$197	$32	$362
Noninterest Income	$3,134	$1,451	$1,867
Noninterest Expense	$8,141	$5,001	$6,650
Net at Bank Level	$2,045	$1,109	$1,168
	qtr ended	qtr ended	qtr  ended
Bank Regulatory capital ratios	9/30/2017	6/30/2017	9/30/2016
Tier 1 capital ratio	12.891%	13.392%	11.485%
Total capital ratio	14.143%	14.644%	12.737%
Holding company net income in dollars	$1,942,476	$1,041,911	$1,144,884
ROAA	1.03%	0.84%	0.68%
ROAE	12.24%	10.06%	7.81%
BVPS	5.48	5.25	5.46
EPS	0.47	0.25	0.30
Shares outstanding	4,125,182	4,125,182	3,745,126
BVPS, EPS affected by 10% stock dividend paid 6/30/17
See company audited FS 12/31/16 for more information