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MICHIGAN CITY, Ind. (AP) _ Horizon Bancorp (HBNC) on Wednesday reported fourth-quarter profit of $7.7 million.
The bank, based in Michigan City, Indiana, said it had earnings of 30 cents per share. Earnings, adjusted for non-recurring costs, came to 40 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The bank holding company posted revenue of $46.1 million in the period. Its adjusted revenue was $40.8 million.
For the year, the company reported profit of $33.1 million, or $1.43 per share. Revenue was reported as $145.2 million.
Horizon Bancorp shares have climbed roughly 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.59, a climb of roughly 8 percent in the last 12 months.
The bank, based in Michigan City, Indiana, said it had earnings of 30 cents per share. Earnings, adjusted for non-recurring costs, came to 40 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The bank holding company posted revenue of $46.1 million in the period. Its adjusted revenue was $40.8 million.
For the year, the company reported profit of $33.1 million, or $1.43 per share. Revenue was reported as $145.2 million.
Horizon Bancorp shares have climbed roughly 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.59, a climb of roughly 8 percent in the last 12 months.