Horizon Bancorp Shares Rise Ahead of Memorial Day With Margins in View
Horizon Bancorp shares are set to start Friday’s premarket at their best level since May 8. HBNC closed at $18.42 on Thursday, continuing a two-day climb. The stock picked up 2.29% Wednesday and added 0.49% Thursday, with around 282,440 shares traded. Small regional-bank stocks are trading on a narrow set of numbers right now: deposits, funding costs, and net interest margin, which tracks the difference between what the bank collects on loans and securities and what it pays for deposits and borrowings. Horizon reported first-quarter total deposits up by $146.9 million since Dec. 31, reaching $5.4 billion. Net interest margin for the quarter came in at 4.29% on a fully taxable equivalent basis.