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Horizon Bancorp posts 1Q profit

MICHIGAN CITY, Ind. (AP) _ Horizon Bancorp (HBNC) on Tuesday reported first-quarter earnings of $8.2 million.

The Michigan City, Indiana-based bank said it had earnings of 37 cents per share. Earnings, adjusted for non-recurring gains, came to 34 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The bank holding company posted revenue of $36.4 million in the period. Its adjusted revenue was $33.1 million.

Horizon Bancorp shares have decreased almost 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.24, a rise of 65 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HBNC at https://www.zacks.com/ap/HBNC

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Keywords: Horizon Bancorp, Earnings Report