HBNC - Horizon Bancorp targets 10% commercial loan growth in 2022

Horizon Bancorp's (NASDAQ:HBNC) Chairman and CEO Craig Dwight highlights the company's goals for 2022, saying its recent branch acquisitions and investments will likely serve well in the coming year, according to the bank's virtual investor day presentation. Sees 10% annual commercial loan growth in 2022 vs. a 3.4% Q/Q decline to $2.1B in the second-quarter of this year. Expects 15-18% modest reduction in mortgage originations next year, which is well below industry expectations, according to the presentation. Anticipates 5-9% annual consumer loan growth, while consumer loan yields are expected to hold steady, compared with a 1.8% Q/Q increase in Q2. Sees more than 1.20% return on average assets in 2022 vs. 1.45% in the second-quarter of 2021. Expects 12.5% return on average common equity next year, compared with 12.6% in Q2 of this year. Additionally, due to an expected increase in interest rates in 2022, the company expects a decline in

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Horizon Bancorp targets 10% commercial loan growth in 2022