Horizon Bank

515 Franklin Street
Michigan City, IN 46360

Notable Rates APY Vs.Others
Savings 0.03% 2.20% →
1-Year CD 0.35% 2.20% →
2-Year CD 0.50% 2.20% →
5-Year CD 1.20% 2.60% →
30-Year Mortgage 5.18% 3.31% →
15-Year Mortgage 4.71% 2.77% →
HELOC N.A. 4.00% →

2020 Overview

General Bank Information

Horizon Bank is an FDIC insured institution located in Michigan City, IN. It was founded in 1873 and has approximately $5.19 billion in assets. Customers can open an account at one of its 82 branches.

FDIC Insured Yes
FDIC Certificate # 4360
Date Established 1873
Assets $5.19 billion
Loans $3.65 billion
Deposits $3.97 billion
Capital $0.64 billion

For a more detailed analysis of Horizon Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - February 20, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.01% $1 $4,999 Learn MoreShow Less
Money Market
0.05% $5,000 $19,999 Learn MoreShow Less
Money Market
0.05% $20,000 $49,999 Learn MoreShow Less
3 Mo CD
0.20% $5,000 - Learn MoreShow Less
6 Mo CD
0.25% $500 - Learn MoreShow Less
Special: 8 Mo CD
1.80% $500 - Learn MoreShow Less
12 Mo CD
0.35% $500 - Learn MoreShow Less
18 Mo CD
0.45% $500 - Learn MoreShow Less
24 Mo CD
0.50% $500 - Learn MoreShow Less
30 Mo CD
0.55% $500 - Learn MoreShow Less
36 Mo CD
0.75% $500 - Learn MoreShow Less
48 Mo CD
1.00% $500 - Learn MoreShow Less
60 Mo CD
1.20% $500 - Learn MoreShow Less

Fixed IRA
0.35% $500 - Learn MoreShow Less
Special: 8 Mo FIRA
1.80% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
0.10% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.03% $2,500 $9,999 Learn MoreShow Less

Loan Rates - February 20, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.


Horizon Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

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Horizon Bank Locations

Financial Details

Horizon Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Horizon Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Horizon Bank U.S. Bank Average
2.98% 6.70%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of September 30, 2019, Horizon Bank had $15,664,000 in non-current loans and $4,020,000 in owned real estate. To cover these potential losses it had $643,350,000 in equity and $17,956,000 in loans loss reserves. That gives it a Texas Ratio of 2.98%.

Return on Equity
Horizon Bank U.S. Bank Average
11.08% 9.72%

Horizon Bank has a Return on Equity of 11.08% versus the BestCashCow average of 9.72%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Horizon Bank U.S. Bank Average
12.4% 12.89%

Horizon Bank has a Capitalization of 12.4% versus the BestCashCow average of 12.89. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Horizon Bank Balance Sheet Analysis

As of September 30, 2019, Horizon Bank had assets of $5,189,130,000, loans of $3,649,729,000, and deposits of $3,972,994,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

September 30, 2019
Cash & Balances due from depository institutions $0.10 billion
Interest-bearing balances $0.01 billion
Total securities $0.98 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $3.65 billion
Loan loss allowance $0.02 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.19 billion
All other assets $0.18 billion
     Total Assets $4.55 billion
Total deposits $3.97 billion
      Interest-bearing deposits $3.16 billion
      Deposits held in domestic offices $3.97 billion
      % insured (estimated) 61.55%
Federal funds purchased and repurchase agreements $0.20 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.32 billion
Subordinated debt $0.00 billion
All other liabilities $0.06 billion
      Total Liabilities $4.55 billion
      Shareholders’ Equity $0.64 billion

Summary Income Statement

September 30, 2019
Total Interest Income $0.15 billion
Total Interest Expense $0.03 billion
Net interest income $0.12 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.03 billion
Total non interest expense $0.09 billion
Pre-tax Net Operating Income $0.06 billion

Bank Loan Profile?

The top three loan types in Horizon Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks in Indiana, Horizon Bank has a significantly higher percent of Multifamily Mortgages, Small Business Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 30.12
Credit Card Loans 0.00
Consumer Auto Loans 9.83
Small Business Loans 9.17
Construction and Development Loans 5.11
Commercial Real Estate 28.10
Commercial and Industrial Loans 11.10
Farm Loans 1.13

Frequently Asked Questions About Horizon Bank

Branches and Savings

Is Horizon Bank FDIC insured?

Yes. It is covered under FDIC Certificate #4360.

Why does Horizon Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Horizon Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Horizon Bank a commercial bank?


Where are Horizon Bank locations?

See branch locations nearby.

Is Horizon Bank open on Saturdays?

Is Horizon Bank open on Sundays?

What time does Horizon Bank open?

What time does Horizon Bank close?

Are Horizon Bank ATMs Open 24/7?

Do Horizon Bank ATMs accept cash deposits?

Can Horizon Bank customers use other ATMs?

Do Horizon Bank branches have notaries?

Will Horizon Bank notarize my document?

What address for Horizon Bank should I put for incoming ACH transfers?

Will the Horizon Bank branch print checks?

Do Horizon Bank checks expire?

Does Horizon Bank require US citizenship to open account?

Can Horizon Bank close my account?

Does Horizon Bank Report to credit bureaus?

Does Horizon Bank Use Equifax?

What is Horizon Bank's ACH Routing Number?

What is Horizon Bank's SWIFT code?


Does Horizon Bank offer mortgages?

Compare mortgage rates here.

Does Horizon Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Horizon Bank offer personal loans?

Compare personal loan rates here.

Does Horizon Bank offer student loans?

Will Horizon Bank cash a check?

Will Horizon Bank redeem a savings bond?

Does Horizon Bank cash savings bonds?

Will Horizon Bank cash money orders?

Can Horizon Bank issue a money order?

Does Horizon Bank do currency exchange?

Background on The Bank

Who owns Horizon Bank?

How long has Horizon Bank been around?

Can Horizon Bank transfer to other banks?

Does Horizon Bank have quick pay?

Does Horizon Bank accept rolled coins?

Will Horizon Bank accept loose change?

Where is Horizon Bank headquarters?

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