Horizon Bank (IN)

Overview / Commentary
515 Franklin Street
Michigan City, IN 46360

Horizon Bank (IN) is headquartered in MICHIGAN CITY and is the 6th largest bank in the state of Indiana. It is also the 192nd largest bank in the nation. It was established in 1873 and as of March of 2024, it had grown to 849 employees at 78 locations. Horizon Bank (IN) has a B+ health rating.

Reviews (3)

Worst Bank Ever!

Posted by: |

This bank has been a nightmare since they bought out my bank. I don't know WHERE they hire people from but they are as dumb as a rock. I write a check to cash and they want to know if it's a deposit. Duh! Plus they are now paying less than 1% on my IRA which is treated as a CD when other banks are paying higher rates of interest. I think I need to find another bank. Not to mention the HELL I went through with my deceased's husbands IRA. Not one person knew what they were doing AND in all the buyouts they had lost me listed as beneficiary. Fortunately, I found the papers. Sloppy, sloppy, sloppy.

Bank Makes Error Penalizes Customer

Posted by: |

Although we changed our address when we moved, Horizon Bank continued to mail our statements to our previous residence in another town. They then repeatedly charged us $10 for the returned statement, and another $10 as a transfer fee for taking the fees out of our account.
After calling the bank we were instructed to visit the bank in person to resolve the problem. After waiting an hour for the assistant manager to meet with us, we were told that the fees could be only partially refunded. We receive conflicting explanations as to why the statements were mailed to the wrong address. We closed all of accounts and will not return to Horizon Bank.

Horrible Experience

Posted by: |

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.


Health Grade Components

FDIC Certificate #4360
Year Established1873
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.82%
Return on Equity - YTD8.47%
Annual Interest Income$85.2MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$7.83B$7.88B
LoansQ1 2024vs Q1 2023$4.57B$4.2B
DepositsQ1 2024vs Q1 2023$5.65B$5.76B
Equity CapitalQ1 2024vs Q1 2023$765.4MM$768.2MM
Loan Loss AllowanceQ1 2024vs Q1 2023$50.4MM$49.5MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$19.1MM$19.8MM
Real Estate OwnedQ1 2024vs Q1 2023$1.1MM$1.8MM
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Horizon Bank (IN) CD Rates

5.00%$10k-5 Month CD Special - New Money
4.50%$10k-7 Month CD Special - New Money
4.00%$10k-10 Month CD Special - New Money


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