MICHIGAN CITY, Ind. (AP) _ Horizon Bancorp (HBNC) on Wednesday reported third-quarter net income of $20.5 million.
The bank, based in Michigan City, Indiana, said it had earnings of 46 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The bank holding company posted revenue of $67.2 million in the period. Its revenue net of interest expense was $55 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $53.6 million.
Horizon Bancorp shares have climbed 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.73, a rise of 1% in the last 12 months.