MICHIGAN CITY, Ind. (AP) _ Horizon Bancorp (HBNC) on Wednesday reported fourth-quarter profit of $18.5 million.
The bank, based in Michigan City, Indiana, said it had earnings of 41 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The bank holding company posted revenue of $65.3 million in the period. Its revenue net of interest expense was $53.5 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $53.9 million.
For the year, the company reported profit of $66.5 million, or $1.53 per share. Revenue was reported as $203.8 million.
Horizon Bancorp shares have declined slightly more than 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.42, a climb of almost 4% in the last 12 months.