Horizon Bancorp Named to KBW's Honor Roll
April 24, 2012 10:07 AM
Michigan City, IN - Horizon Bancorp, an experienced leader in community banking, was recently named to the Keefe, Bruyette & Woods ("KBW) Honor Roll. Horizon Bancorp is one of 43 banks nationwide selected for this honor.
"We are extremely pleased to be one of an elite group named to the KBW Honor Roll this year," stated Craig M. Dwight, Chief Executive Officer, Horizon Bancorp ("Horizon"). "This designation by KBW, a specialist in the banking industry, recognizes Horizon's ability to deliver shareholder value and stable earnings growth over time.
According to the criteria set forth by KBW, Honor Roll Winners are publicly traded banking institutions with more than $500 million in total assets and meet the following three conditions:
No annual loss reported in net income per share before extraordinary items over the past 10 years;
2011 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years; and
Consecutive increases in net income per share before extraordinary items since 2009.
Dwight stated, "Despite the stormy economic conditions over the last decade, Horizon has weathered the storm and actually increased its earnings each of the past twelve years.
"Horizon's ability to meet the rigorous performance standards of KBW's Honor Roll Award is certainly meaningful," commented Dwight. "However, we recognize that we have another audience our banking customers that benefit from understanding how the Honor Roll designation impacts their relationship with
Horizon. To customers, the Honor Roll recognition says 'Horizon is financially strong, stable, and a valuable financial partner for the long term.
Dwight attributed Horizon's steady and consistent performance to the following: An outstanding team of seasoned bankers who consistently deliver on its motto of providing clients exceptional service and sensible advice, and a business model focused on five separate revenue streams, which contributes to Horizon's stable earnings performance during varying economic cycles.
"As a local community bank, our goal is to build life-long relationships with our clients," concluded Dwight. "And, just as our employees continually seek new opportunities, the same is true of our Board of Directors. We look for opportunities to grow and expand our presence in current and new markets that make economic sense. By continuing to expand our geographical footprint, we are confident that moving forward with the strength, stability, and personalized customer service will help us best serve new communities and develop relationships with an entirely new market of Horizon customers."
For more information visit any of Horizon Bank's local offices or contact us at (219) 873-2640 or toll-free at (888) 873-2640 during normal business hours. Additional information is available by visiting www.accesshorizon.com.
About Horizon Bank
Horizon Bancorp is a locally owned, independent, commercial bank holding company serving Northern Indiana and Southwest Michigan since 1873. Horizon also offers mortgage-banking services throughout the Midwest. Horizon Bancorp may be reached online at www.accesshorizon.com. Its common stock is traded on the NASDAQ Global Market under the symbol HBNC.
KBW, Inc. operates in the U.S., Europe and Asia through its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and Keefe, Bruyette & Woods Asia Limited. Celebrating its 50th anniversary, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking, real estate and specialty finance sectors. Founded in 1962, the firm maintains industry-leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities and debt securities of financial services companies.
Forward Looking Statement
This press release may contain forward-looking statements regarding the financial performance, business prospects, and growth and operating strategies of Horizon. For these statements, Horizon claims the protections of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Statements in this press release should be considered in conjunction with the other information available about Horizon, including the information in the filings we make with the Securities and Exchange Commission. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management's expectations and are subject to a number of risks and uncertainties. We have tried, wherever possible, to identify such statements by using words such as "anticipate," "estimate," "project," "intend," "plan," "believe," "will" and similar expressions in connection with any discussion of future operating or financial performance. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include risk factors relating to the banking industry and the other factors detailed from time to time in Horizon's reports filed with the Securities and Exchange Commission, including those described in Item 1A "Risk Factors" of Part I of Horizon's Annual Report on Form 10-K for the fiscal year ended December 31, 2011. Undue reliance should not be placed on the forward-looking statements, which speak only as of the date of this press release. Horizon does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement is made, or reflect the occurrence of unanticipated events, except to the extent required by law.