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HBNC - Horizon Bancorp's Margin To Suffer From Big Repricing Gap
Horizon Bancorp Inc.
Earnings of Horizon Bancorp, Inc. (HBNC) are likely to plunge this year due to the federal funds rate cut and high rate-sensitivity of the net interest margin. Far more assets than liabilities will mature this year, which will make the margin highly sensitive to interest rates. Moreover, the COVID-19 pandemic will worsen credit quality, especially the quality of the consumer segment, which will drive provisions charges and drag earnings. On the other hand, non-interest income will likely be higher this year due to the Salin Bancshares acquisition, which will support net income this