MICHIGAN CITY – In celebration of 146 years in business and more than $5 billion in assets, Horizon Bancorp rang the NASDAQ Opening Bell in Times Square, New York, at 9:30 a.m. Eastern time Aug. 5.
Craig Dwight, Horizon’s chairman and CEO, along with current and past executive leadership participated in the opening bell ringing ceremony. The ceremony celebrated 146 years in business and reaching more than $5 billion in total bank assets by the end of the second quarter of this year – a new milestone for the company, Horizon said in a release. In addition, Horizon’s trust department exceeded $2.5 billion in assets under management.
Horizon’s first day of trading on NASDAQ was Dec. 20, 2001.
“I remember that time well," Dwight said. "On that first day HBNC’s total volume was 16,000 shares, and the closing price was $2.73 per share. Since that time Horizon Bancorp’s total shareholder return exceeds 615 percent. We have created shareholder value.”
The $5 billion milestone for the company represents a double digit compounded annual growth rate of 12.63 percent from assets of $531 million at year-end 2000. During this time frame the bank has completed 14 bank acquisitions and expanded into 11 new markets by hiring local, seasoned bankers to join the company.
“Horizon’s ongoing success could not be accomplished without the hard work of our entire team, which is now well over 800 advisors in 76 offices throughout the states of Indiana and Michigan,” Dwight said. “This success is based on simple philosophy of people first and treating everyone with respect, dignity and fairness.”
Horizon Bancorp, Inc. is an independent, commercial bank holding company serving northern and central Indiana, and southwest, central and the Great Lakes Bay regions of Michigan through its commercial banking subsidiary, Horizon Bank. Horizon Bancorp, Inc. may be reached online at www.horizonbank.com. Its common stock is traded on the NASDAQ Global Select Market under the symbol HBNC.