About Horizon Bancorp

Horizon Bancorp, Inc. operates as the bank holding company for Horizon Bank that provides a broad range of banking services in northern and central Indiana, and southern and central Michigan. The bank is a full–service commercial bank offering commercial and retail banking services, corporate and individual trust and agency services and other services incident to banking. Horizon Risk Management, Inc. is a captive insurance company incorporated in Nevada and was formed as a wholly–owned subsidiary of the company. The bank maintains full service offices. The bank has wholly–owned direct and indirect subsidiaries: Horizon Investments, Inc. (Horizon Investments), Horizon Properties, Inc. (Horizon Properties), Horizon Insurance Services, Inc. (Horizon Insurance), Horizon Grantor Trust and Wolverine Commercial Holdings, LLC. Horizon Investments manages the investment portfolio of the bank. Horizon Properties manages the real estate investment trust. Horizon Insurance is used by the company’s Wealth Management to sell certain life insurance products through a third party. Horizon Grantor Trust holds title to certain company owned life insurance policies. Wolverine Commercial Holdings, LLC holds one piece of property but does not otherwise engage in significant business activities. The bank’s primary market consists of areas throughout the northern and central regions of the state of Indiana along with the southern and central regions of the state of Michigan. The bank’s primary market is further defined by the Indiana and Michigan counties. Investment Portfolio As of December 31, 2022, the company’s investment securities included U.S. treasury and federal agencies, state and municipal securities, federal agency collateralized mortgage obligations, federal agency mortgage-backed pools, and corporate notes. Loans As of December 31, 2022, the company's loans included commercial loans (such as owner occupied real estate loans, non–owner occupied real estate loans, residential spec homes loans, development and spec land loans, and commercial and industrial loans), real estate loans (such as residential mortgage loans, residential construction loans, and mortgage warehouse loans), and consumer loans (direct installment loans, indirect installment loans, and home equity loans). Deposits As of December 31, 2022, the company’s deposits included non–interest bearing demand deposits; interest bearing demand deposits; money market (variable rate); savings deposits; certificates of deposit of $250,000 or more; and other certificates and time deposits. Regulation and Supervision As a bank holding company and a financial holding company, the company is subject to extensive regulation, supervision and examination by the Board of Governors of the Federal Reserve System (the Federal Reserve Board or Federal Reserve) as its primary federal regulator under the Bank Holding Company Act of 1956, as amended (BHC Act). The bank, as an Indiana–state chartered bank, is subject to extensive regulation, supervision and examination by the Indiana Department of Financial Institutions (DFI) as its primary state regulator. Also, as to certain matters, the bank is under the supervision of, and subject to examination by, the Federal Deposit Insurance Corporation (FDIC) because the FDIC provides deposit insurance to the bank and is the bank’s primary federal regulator. The company is also subject to the disclosure and regulatory requirements of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, as administered by the Securities and Exchange Commission (SEC). The bank’s deposits are insured to applicable limits by the Deposit Insurance Fund (DIF) of the FDIC. The company and the bank are subject to the Federal Reserve Act, which restricts financial transactions between banks, affiliated companies and their executive officers, including limits on credit transactions between these parties. The company is subject to the provisions of the USA PATRIOT Act of 2001, which contains anti–money laundering and financial transparency laws and requires financial institutions to implement additional policies and procedures to address money laundering, suspicious activities and currency transaction reporting, and currency crimes. The shares of common stock of the company have been registered with the SEC under the Securities Exchange Act (the ‘1934 Act’). The company is subject to the information, proxy solicitation, insider trading restrictions and other requirements of the 1934 Act and the rules of the SEC promulgated thereunder. The company is subject to the Sarbanes–Oxley Act of 2002, which revised the laws affecting corporate governance, accounting obligations and corporate reporting. The bank is a member of the Federal Home Loan Bank of Indianapolis. Under the Community Reinvestment Act (CRA), the bank has a continuing and affirmative obligation consistent with its safe and sound operation to help meet the credit needs of its entire community, including low and moderate income neighborhoods. The company is also subject to guidance from the Federal Financial Institutions Examination Council (FFIEC), an interagency body for five federal banking regulators, with respect to such matters as data privacy, disaster recovery and cybersecurity. The company continues to monitor existing and new privacy and data security laws for their impact on its business operations and its customers, including the applicability and effect of laws, such as the European Union’s comprehensive 2018 General Data Privacy Regulation and the California Consumer Privacy Act that went into effect on January 1, 2020. History Horizon Bancorp, Inc. was founded in 1873. The company was incorporated in Indiana in 1983.