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Horizon Bank Completes Acquisition Of 14 Michigan Branches, Expanding Midwest Retail Footprint

Sep 20, 2021•about 4 years ago

Acquiring Company

Horizon Bancorp

Acquired Company

Branches

Michigan CityBankingLendingFinanceFinancial Services

Description

Horizon Bank, a wholly owned subsidiary of Horizon Bancorp, Inc. (NASDAQ GS: HBNC) (“Horizon”), announced the completion of its previously announced acquisition of 14 branches in 11 Michigan counties.

Company Information

Company

Horizon Bancorp

Location

Michigan City, Indiana, United States

About

Horizon is a community bank serving northern and central Indiana, and southern, central and the Great Lakes Bay regions of Michigan. Our focus is to anticipate and fulfill customer needs with exceptional service and sensible advice. This philosophy is what has kept us growing stronger than ever since 1873. Each Horizon office is led by experienced, local professionals with deep roots in the communities they represent. These professionals are given autonomy that calls for local decision-making, rather than decisions made at a corporate entity hundreds of miles away. With a proud legacy of service, we take seriously our responsibility to assist in the growth and prosperity of the communities we also call home.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed