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515 Franklin Street
Michigan City, IN 46360

Horizon Bank, National Association is headquartered in Michigan City and is the 9th largest bank in the state of Indiana. It is also the 390th largest bank in the nation. It was established in 1873 and as of March of 2014, it had grown to 419 employees at 34 locations. Horizon Bank, National Association has a A health rating.

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Reviews (2)

Great Customer Service

I was shocked to see the only review posted here on Horizon Bank. We've had nothing but great service(unlike our experiences with Chase Bank). We've found them very customer orientated, answered questions always in a timely fashion--very personal service. I'm sorry the other reviewer had a bad experience with their mortgage application but after obtaining about 20 mortgages in my lifetime, I can say it is much harder to close on a house than it was 10 years ago--he might have had similar experiences elsewhere.

Terrible Mortgage Experience

We had a terrible experience with Horizon Bank. This bank was recommended to us be a real estate agent so we chose them as our loan company. At first they seemed very organized and thorough. All of our paperwork (we were told) was completed within two days of our accepted offer, and we were ensured we would close within our forty-five day time frame. At our thirty day mark, our loan officer requested ten additional items of information to be gathered within two days. We submitted the information as directed, with two weeks remaining until closing. The bank assured us  we would close within the week (having seven days to enter the information). Seven days went by and our closing was bumped due to location problems with the sellers. The following week, our closing was scheduled on a day that worked for everyone (our 45th day- LAST DAY TO CLOSE). The evening before the day of closing (4:30 pm) our real estate agent called and said that woman who was supposed to write up our closing documents went home sick that afternoon, and they were not ready for closing the next morning  at 9am (though closinig docuents are to be prepared at least 24 hours before the time of closing to be reviewed). Nobody at the bank could step in and finish the paperwork the employee had failed to complete, though extra documentation was submitted two weeks prior and all basic forms/information were submitted 43 days prior. Their advice was for US to pay to file an extension (though you have to file for an extension at least 10 days prior to closing-so their advice was not even accurate). They blamed the delay on the appraisal, though the very thorough appraisal was commpleted at submitted three weeks prior to closing. The bank never came through with their paperwork, so we borrowed the $15,000 from a friend that night to proceed with a cash sale the next morning. Throughout the process, the loan officer was very rude and the only reason we continued with the process was because we had submitted everything and were waiting to close. There is no excuses for bad customer service. As the client, we submitted everything in a timely, polite, and thorough manner and we expected the same from the bank. Our experience was completely the opposite and very disspointing. We felt like we got "the run-around" and were deceived. We would not recommend Horizon Bank to anyone.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Horizon Bank, National Association had $14.3 million in non-current loans and owned real-estate with $198.81 million in equity and loan loss allowances on hand to cover it. This gives Horizon Bank, National Association a Texas Ratio of 7.19% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Horizon Bank, National Association decreased slightly from 10.27% as of March 31, 2013 to 7.19% as of March 31, 2014, resulting in a positive change of 29.96%.This indicates that the balance sheet and financial strength for Horizon Bank, National Association has improved slightly in recent periods.

Deposit Growth


In the past year, Horizon Bank, National Association has increased its total deposits by $47.49 million, resulting in 3.58% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Horizon Bank, National Association has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Horizon Bank, National Association has $1.81 billion in assets with $198.81 million in equity, resulting in a capitalization level of 11.00%, which is above average.

Institution Statistics

FDIC Certificate #4360
Year Established1873
Primary RegulatorOCC
Assets and Liabilities
Assets$1.81 billion
Loans$1.09 billion
Deposits$1.37 billion
Equity Capital$182.70 million
Loan Loss Allowance$16.10 million
Unbacked Noncurrent Loans$12.64 million
Real Estate Owned$1.66 million
Historic Data - March 2013
Assets$1.73 billion
Equity Capital$182.61 million
Loan Loss Allowance$19.57 million
Unbacked Noncurrent Loans$12.64 million
Real Estate Owned$1.68 million
Profit Margin - Quarterly
Net Interest Margin3.44%
Return on Assets0.76%
Return on Equity7.4%
Interest Income$16.46 million

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Horizon Bank, National Association has 32 locations. Click to view all Horizon Bank, National Association locations.