MICHIGAN CITY, Ind.–(BUSINESS WIRE)–(NASDAQ: HBNC) Horizon Bancorp (the Company or Horizon) announced
a series of balance sheet restructuring transactions that are expected
to improve its overall financial position, including an increase in net
interest margin, return on average assets, and return on average equity.
The transactions include prepaying $106 million of high fixed-rate
borrowings with contractual maturities ranging from June 2017 through
September 2020 and repositioning the investment securities portfolio to
replace certain lower yielding short-term investments consistent with a
more normalized strategy and maturity periods.
Craig Dwi…
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