Horizon Bank (IN)

Overview / Commentary
515 Franklin Street
Michigan City, IN 46360

Horizon Bank (IN) is headquartered in MICHIGAN CITY and is the 5th largest bank in the state of Indiana. It is also the 187th largest bank in the nation. It was established in 1873 and as of March of 2023, it had grown to 879 employees at 77 locations. Horizon Bank (IN) has a B+ health rating.

Great Customer Service

Posted by: |

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.

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 - YTD0.99%
Return on Equity - YTD10.26%
Annual Interest Income$71.7MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$7.88B$7.35B
LoansQ1 2023vs Q1 2022$4.20B$3.61B
DepositsQ1 2023vs Q1 2022$5.76B$5.90B
Equity CapitalQ1 2023vs Q1 2022$768.2MM$745.6MM
Loan Loss AllowanceQ1 2023vs Q1 2022$49.5MM$52.5MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$19.8MM$19.6MM
Real Estate OwnedQ1 2023vs Q1 2022$1.8MM$2.4MM
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Horizon Bank (IN) Money Market Rates

4.25%$20k-Money Market - New Money

Horizon Bank (IN) CD Rates

4.80%$10k-10 Month CD Special - New Money


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