HORIZON BANCORP INC /IN/ Debt Disclosure
| December 31 2025 | December 31 2024 | ||||||||||
Federal Home Loan Bank advances, variable and fixed rates ranging from 2.63% to 3.78%, due at various dates through April 7, 2027 | $ | 150,075 | $ | 1,130,148 | |||||||
Securities sold under agreements to repurchase, fixed rates ranging from 0.01% to 3.33%, due overnight and continuous | 88,468 | 89,912 | |||||||||
| Federal funds purchased | 169 | — | |||||||||
Secured borrowings, fixed rates ranging from 3.75% to 9.00%, due at various dates through March 28, 2043 | 9,874 | 12,192 | |||||||||
| Total borrowings | $ | 248,586 | $ | 1,232,252 | |||||||
| Year | Amount | |||||||
| 2026 | 91,506 | |||||||
| 2027 | 150,066 | |||||||
| 2028 | — | |||||||
| 2029 | 6,148 | |||||||
| Thereafter | 866 | |||||||
| $ | 248,586 | |||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 13, 2026 | Showing above |
| 2024 | Mar 14, 2025 | |
| 2023 | Mar 15, 2024 | |
| 2022 | Mar 15, 2023 | |
| 2021 | Mar 9, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 29, 2016 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.