Horizon Bank
Horizon Bank is an American community bank headquartered in Michigan City, Indiana, and a wholly owned subsidiary of Horizon Bancorp, Inc. (). Founded in 1873, the bank provides commercial and retail banking services through more than 70 branch locations across Indiana and Michigan. As of the fourth quarter of 2024, Horizon Bancorp reported approximately US$7.8 billion in total assets.
History
Founding and early years
Horizon Bank was originally chartered in April 1873 as First National Bank in Michigan City, Indiana. In 1920, the bank relocated to its current headquarters location on Franklin Street in Michigan City.
A significant early milestone came in 1937 when the bank merged with Michigan City Trust & Savings, consolidating its position in the local market.
Innovation and Growth (1950s–1990s)
Horizon Bank was an early adopter of banking technology in Indiana. In 1955, it introduced the state's first drive-up and walk-up service windows. In 1974, the bank installed Indiana's first automated teller machine (ATM).
By 1986, the bank had completed its acquisition of Citizens Bank of Michigan City. By 1998, the institution operated nine branches across two Indiana counties and managed approximately $300 million in total assets.
Interstate expansion (2000s)
In 2003, Horizon Bank opened its first office outside Indiana in St. Joseph, Michigan, marking the beginning of its interstate expansion strategy. The bank continued to grow through organic expansion and targeted acquisitions, including Alliance Banking Company in June 2005.
In 2009, the bank acquired Horizon Trust & Investment Management, National Association, strengthening its wealth management capabilities.
Accelerated acquisition strategy (2012–2021)
Beginning in 2012, Horizon Bank entered a period of accelerated growth through a series of mergers and acquisitions:
- July 2012 – Heartland Community Bank (Franklin, IN)
- April 2014 – Summit Community Bank (East Lansing, MI)
- July 2015 – Peoples Federal Savings Bank of DeKalb County (Auburn, IN)
- June 2016 – Farmers State Bank (Mentone, IN)
- July 2016 – The La Porte Savings Bank (La Porte, IN)
- November 2016 – The Central National Bank and Trust Company (Attica, IN)
- September 2017 – Lafayette Community Bank (Lafayette, IN)
- October 2017 – Wolverine Bank, Federal Savings Bank (Midland, MI); implied valuation of approximately $93.8 million
- March 2019 – Salin Bank and Trust Company (Indianapolis, IN); valued at approximately $135.3 million
- September 2021 – 14 branches of TCF National Bank in Michigan, adding approximately $976 million in deposits and $278 million in loans
Charter conversion
On June 24, 2017, Horizon Bank converted from a national bank (formerly Horizon Bank, N.A.) to an Indiana state-chartered commercial bank, withdrawing from membership in the Federal Reserve System. Its primary federal regulator became the Federal Deposit Insurance Corporation (FDIC).
Recent history
In 2019, Horizon Bank surpassed $5 billion in total assets and introduced video banking services and its first bilingual branch.
In January 2023, Horizon Bancorp announced that Thomas M. Prame would succeed Craig M. Dwight as chief executive officer, effective June 1, 2023. During Dwight's tenure as chairman and CEO, the company grew from approximately $400 million to $7.7 billion in total assets. In 2023, the bank also celebrated its 150th anniversary.
In May 2024, John R. Stewart was appointed executive vice president and chief financial officer, succeeding Mark Secor, who had served as CFO for 16 years and oversaw the integration of 12 mergers.
In February 2025, Chairman Craig Dwight announced his retirement from the Board of Directors, effective May 1, 2025, with Eric Blackhurst succeeding him as Independent Chairperson.
Operations
Services
Horizon Bank provides a range of financial services, including:
- Personal and business checking accounts, savings accounts, money market accounts, and certificates of deposit
- Commercial, residential real estate, consumer, and agricultural lending
- Mortgage loan origination
- Wealth management, corporate and individual trust, and investment management services
- Treasury management
- Equipment financing (regionally and nationally)
- Debit and credit card services
- Retirement plan administration
- Insurance products
Branch network
As of 2025, Horizon Bank operates 72 full-service branch offices across Indiana and Michigan. The bank maintains 46 branches in Indiana and 26 branches in Michigan. Branches offer in-person, drive-up, ATM, and video banking services.
The corporate headquarters is located at 515 Franklin Street in Michigan City, Indiana.
Corporate governance
Horizon Bancorp, Inc.
Horizon Bank is the principal subsidiary of Horizon Bancorp, Inc., a bank holding company traded on the NASDAQ Global Select Market under the ticker symbol HBNC. As of late 2025, the company had a market capitalization of approximately $813 million and roughly 51.2 million shares outstanding.
Key executives
- Thomas M. Prame – President and Chief Executive Officer (since June 2023)
- John R. Stewart – Executive Vice President and Chief Financial Officer (since May 2024)
- Eric Blackhurst – Independent Chairperson of the Board (since May 2025)
Community involvement
Horizon Bank is active in community outreach through charitable grants and volunteer programs. The bank organizes an annual Horizon Cares Day, during which employees participate in volunteer activities across the communities the bank serves. In 2024, the bank awarded a $2,500 grant to The Salvation Army of Michigan City to support its programs, including a Diaper Bank Program serving over 100 children monthly.
Recognition
- Named one of the Top 200 community banks by US Banker magazine for financial performance (2008–2013)
- Named to the Keefe, Bruyette & Woods (KBW) Honor Roll (only 43 banks nationwide selected)
- Maintained over 100 consecutive quarterly dividend payments (as of 2012)
- Maintained dividend payments for 39 consecutive years (as of 2025)
See also
- List of banks in the United States
- Michigan City, Indiana
- Community banking