HBNC - Horizon Bancorp: Earnings Outlook Is Positive But Credit Risks Remain
Earnings of Horizon Bancorp, Inc. (NASDAQ: HBNC) increased in the second quarter to $0.33 per share, from $0.26 per share in the first quarter of 2020. The earnings increase was attributable to loan growth under the Paycheck Protection Program and lower provision expense. Earnings will likely continue to increase in the year ahead because of accelerated booking of fees under the Paycheck Protection Program. Moreover, the provision expense will likely continue to decline due to stability in the economic outlook. Consequently, I’m expecting the earnings in the second half of the year to increase