Horizon Bank (IN) is headquartered in Michigan City and is the 5th largest bank in the state of Indiana. It is also the 229th largest bank in the nation. It was established in 1873 and as of December of 2020, it had grown to 822 employees at 80 locations. Horizon Bank (IN) has an A+ health rating.
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.
Horrible Experience
My bank was bought out by Horizon and the only correspondence that I received from them was when they closed my checking account. I receive eStatements and on their website it states that there is no minimum balance or service charge if you have direct deposit, or eStatements or keep a $1,000.00 minimum balance. I received a notice that my account was closed because of service fees. My account has been dormant, but I should have received notification if fees were going to be deducted.
The Work Bank Out There
Avoid this bank like the plague. I swear, I have to call Horizon once a week just to use my card. I am constantly getting my transactions denied even though I have well over $1000 in my bank account at all times. I’ve never experienced anything like this before. So horrible. Worse yet, they never answer their phones to fix the issue so you’re stuck at the grocery store trying to feed your family but can’t make purchase you need even though you have more than enough money to do so.
Not Keeping Track Of Transactions Properly
My bank was bought out by Horizon bank. Horizon bank has been horrible ever since the switch. It claims to keep the app up to date on transactions but they wait a two weeks before posting multiple transactions making my account go into the negative then charging an insufficient funds fee when I have my account set up to not allow transactions to go through if there isn't enough money. I have also had transactions show up then disappear within 4 hours and yet when I talk to the bank they try to deny that this is happening. I wouldn't be surprised if there is a class action lawsuit soon.
Moving Banks ASAP
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
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
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 as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 4360 |
| Year Established | 1873 |
| Employees | 822 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.3% |
| Return on Equity - YTD | 11.05% |
| Annual Interest Income | $205.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $5.87B$5.24B |
| Loans | Q4 2020vs Q4 2019 | $3.82B$3.62B |
| Deposits | Q4 2020vs Q4 2019 | $4.66B$3.98B |
| Equity Capital | Q4 2020vs Q4 2019 | $681.5MM$662.4MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $57.0MM$17.7MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $28.9MM$17.8MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $1.9MM$3.7MM |
