Horizon Bank, National Association
Horizon Bank, National Association is headquartered in Michigan City and is the 25th largest bank in the state of Indiana. It is also the 763rd largest bank in the nation. It was established in 1873 and as of September of 2003, it had grown to 219 employees at 10 locations. Horizon Bank, National Association has an A health rating.
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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 as of Q3 2003
Learn more about bank healthHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 4360 |
| Year Established | 1873 |
| Employees | 219 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.08% |
| Return on Equity - YTD | 13.89% |
| Annual Interest Income | $31.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2003vs Q3 2002 | $753.8MM$698.0MM |
| Loans | Q3 2003vs Q3 2002 | $455.6MM$503.2MM |
| Deposits | Q3 2003vs Q3 2002 | $535.5MM$486.2MM |
| Equity Capital | Q3 2003vs Q3 2002 | $60.1MM$53.4MM |
| Loan Loss Allowance | Q3 2003vs Q3 2002 | $6.8MM$5.8MM |
| Unbacked Noncurrent Loans | Q3 2003vs Q3 2002 | $2.0MM$1.3MM |
| Real Estate Owned | Q3 2003vs Q3 2002 | $0$105.00K |
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Horizon Bank, National Association has 69 locations. Click to view all Horizon Bank, National Association locations.