Horizon Bank (IN)

Overview / Commentary
515 Franklin Street
Michigan City, IN 46360

Horizon Bank (IN) is headquartered in Michigan City and is the 4th largest bank in the state of Indiana. It is also the 224th largest bank in the nation. It was established in 1873 and as of March of 2019, it had grown to 757 employees at 91 locations. Horizon Bank (IN) has an A+ health rating.

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Reviews (5)

Great Customer Service

Posted by: eperschon | Aug 20, 2013

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.

Moving Banks ASAP

Posted by: Ferg | Jul 20, 2019

Horizon bought out our bank closed the only branch in town. And no ATM in our town. We live paycheck to paycheck. Horizon puts check's through at close of business and charges 34 dollars if there isn't enough to cover it doesn't give you to the close of business to make it right. Crooks. I would not recommend anyone bank with them

Horrible Bank

Horizon Bank is a 'nickel and diming' bank and will do any thing to collect late fee for loans etc., I did not choose this bank but unfortunately my bank 'Salin Bank' was purchased by this bank and I can already see trouble in the future. Stay away from this bank.

Garbage Service

Posted by: Recaneps | Mar 10, 2017

Terrible experience. Didnt seem bad at first then i couldnt get into the website to access the account and all sorts of other problems. Lots of issues and no help from cs so screw these guys

Terrible Mortgage Experience

Posted by: abs | Nov 2, 2012

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.


Health Grade Components

FDIC Certificate #4360
Year Established1873
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.98%
Return on Equity - YTD8.02%
Annual Interest Income$45.4MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$5.05B$3.96B
LoansQ1 2019vs Q1 2018$3.61B$2.84B
DepositsQ1 2019vs Q1 2018$3.92B$2.95B
Equity CapitalQ1 2019vs Q1 2018$630.4MM$490.8MM
Loan Loss AllowanceQ1 2019vs Q1 2018$17.8MM$16.5MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$16.9MM$13.2MM
Real Estate OwnedQ1 2019vs Q1 2018$3.6MM$828.00K

Sorry, we do not have rate data for Horizon Bank (IN).



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