Horizon Bancorp, Inc..
HBNC.US | Other monetary intermediation
Horizon Bancorp, Inc. is a bank holding company. Through its subsidiary, Horizon Bank, it provides a range of commercial and retail banking services. These services include deposit accounts, loans (commercial, agricultural, residential mortgage, and consumer), and other financial products. The bank ...Show More
Better Health for All
0
Horizon Bancorp, Inc. is a bank holding company whose core products and services (banking) have no direct positive or negative health impact, leading to a neutral score for several KPIs. The company made donations of $3,000 in 2021
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and $2,500 in 2024 to Samaritan Counseling Centers, Inc., an organization that provides mental health services, including for underinsured/uninsured individuals, and offers seminar-based education.
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However, these donations are to a third-party organization, and the articles do not provide information on Horizon Bank's own health-related initiatives, R&D, or revenue percentage allocated to such programs. Therefore, KPIs requiring specific company-level data on health equity programs, preventative health measures, mental health initiatives, and healthcare education cannot be scored.
Fair Money & Economic Opportunity
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Horizon Bank offers a Homeowners Improvement Loan with an Annual Percentage Rate of 13.50%.
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The bank's loan portfolio includes $17 million in mortgage loan programs for low-to-moderate income homebuyers, $30 million in Small Business Administration loans, and $196 million in community development lending, totaling $243 million against over $4.9 billion in total loans.
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Horizon Bank has a Fair Lending Policy, which applies across all operations, and its Fresh Start Checking account is certified by the Cities for Financial Empowerment Fund (CFE Fund) for meeting Bank On National Account Standards.
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In 2024, the bank donated over $1,140,000 to organizations and provided 155 Advisor Assist Loans totaling $152,350.
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The bank conducted 221 financial literacy events, totaling 637 hours, and offers financial literacy resources on its website and through high school branches.
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For its Homeowners Improvement Loan, the maximum debt-to-income ratio does not exceed 55%, and for Fresh Start Loans, the maximum overall debt cannot exceed 50% of income.
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Horizon Bank operates over 70 locations in Indiana and Michigan, with specific branches in LaPorte and Whiting, Indiana, staffed with Spanish-speaking team members.
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The Fresh Start Checking account is certified to meet national account standards, and the bank offers an 'easy-to-use' Everyday Checking account and 'simple solutions' for savings and money market accounts.
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Fair Pay & Worker Respect
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Insufficient evidence to determine a value score for Horizon Bancorp, Inc. regarding Fair Pay & Worker Respect. No articles or relevant information found. A neutral score of 0 is assigned.
Materiality Analysis: Company Summary (75-100 words): Horizon Bancorp, Inc. is a regional bank holding company operating primarily in northern and central Indiana and southern and central Michigan. It provides a range of commercial and retail banking services, including deposit accounts, commercial and residential real estate loans, consumer loans, and trust and wealth management services. The company operates through full-service offices. Recent strategic changes or expansions are not specified in the provided information. Its operational footprint is concentrated within its regional service area.
Peer Comparison (50-75 words): Compared to other regional banks, Horizon Bancorp's performance on "Fair Pay & Worker Respect" is likely to be at industry standard. Regional banks generally face similar pressures regarding wage levels, benefits, and workplace safety. Public data on specific peer comparisons for these metrics is limited without comprehensive industry surveys.
Materiality Assessment (1-2 clear sentences): The business model is fundamentally neutral to supportive of this value, with medium materiality, as fair pay and worker respect are important for attracting and retaining talent in the banking sector, but the direct impact is less pronounced than in industries with high physical risk or extensive supply chains.
Detailed Rationale (150-200 words): As a regional bank, Horizon Bancorp's primary impact on "Fair Pay & Worker Respect" relates to its direct employees. Fair wages, benefits, and safe working conditions are essential for attracting and retaining qualified staff, particularly in competitive markets. While the banking sector doesn't typically involve high physical risk, ensuring a respectful and inclusive work environment is crucial for employee satisfaction and productivity. The company's geographic concentration in the Midwest suggests that local labor market conditions will significantly influence wage levels and benefit packages. There is no indication of supply chain considerations or other indirect impacts related to this value. The absence of reported labor violations or controversies would be a positive indicator. The company's commitment to diversity and inclusion, if demonstrated through policies and practices, would further enhance its alignment with this value.
Value Interaction Notes (if applicable, 25-50 words): There may be a potential tension between profitability and wage levels, particularly for lower-level employees. Balancing cost control with fair compensation is a common challenge in the banking sector.
Scoring Boundary Flags (if applicable, 25-50 words): Scores significantly below average would be illogical unless there are documented labor violations or significantly substandard pay and benefits relative to regional peers. A score above 8 would require strong evidence of exceptional worker treatment and benefits.
Fair Trade & Ethical Sourcing
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No evidence available to assess Horizon Bancorp, Inc. on Fair Trade & Ethical Sourcing.
Honest & Fair Business
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No evidence available to assess Horizon Bancorp, Inc. on Honest & Fair Business.
Kind to Animals
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Horizon Bancorp, Inc. is a service-oriented company providing banking services. The provided articles, including its 2023 and 2024 CSR reports, explicitly state that no data relevant to animal welfare, cruelty-free practices, animal testing, humane certifications for animal operations, animal-derived ingredients, animal-related suppliers, cage-free sourcing, animal agriculture ethics, or innovation in animal-free technologies was found.
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The company's core business model does not involve activities that would typically impact these animal welfare metrics, thus all KPIs are scored as N/A.
No War, No Weapons
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No evidence available to assess Horizon Bancorp, Inc. on No War, No Weapons.
Planet-Friendly Business
-60
Horizon Bancorp, Inc. has not publicly committed to Science-Based Targets Initiative (SBTi) reduction targets.
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The company also has not publicly committed to specific 2030 or 2050 climate goals, indicating no declared net-zero target year.
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While the company has financed $75 million in SOLCAP Renewable Energy Projects through December 31, 2024, which are projected to produce 120,953,561 kWh of clean power annually and reduce 81,263 metric tons of greenhouse gas emissions, this relates to external financing rather than the company's own operational energy consumption or emissions.
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Horizon Bank has implemented initiatives such as replacing parking lot and security lighting with LEDs, retrofitting HVAC systems with VFD drives and digital controls at two offices, and recycling cardboard, electronics, fluorescent bulbs, and ballasts.
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Respect for Cultures & Communities
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No evidence available to assess Horizon Bancorp, Inc. on Respect for Cultures & Communities.
Safe & Smart Tech
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The company uses Secure Socket Layer (SSL technology) on its website and internet banking, which is a standard encryption practice.
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It states that it does not disclose non-public information about customers except as permitted by law, and there are no documented incidents of unauthorized data use.
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Horizon Bank collects and retains information only for specific business purposes and where it reasonably believes it will help administer its business or provide products and services, indicating good data minimization practices.
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The company engages in regular assessments of its infrastructure, software systems, and network architecture using internal and third-party specialists for vulnerability management and security testing.
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However, user control over data is limited, as consumers can only prevent disclosure of certain personal information to non-affiliated third parties in some circumstances, and contact information is provided only for correcting inaccurate information.
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Horizon monitors existing and new privacy and data security laws, including GDPR and CCPA, but is noted to have some implementation gaps in compliance with major regulations.
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Zero Waste & Sustainable Products
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Horizon Bancorp has implemented several waste reduction initiatives, including the digitization of banking services and end-of-life equipment management to minimize landfill impact.
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The company recycles cardboard, electronics, fluorescent bulbs, and ballasts.
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Furthermore, 66% of customers have adopted eStatements, contributing to a reduction in printed page consumption.
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