Horizon Bancorp reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company's total interest income was $36,774,000 compared to $29,389,000 a year ago. Net interest income was $31,455,000 compared to $20,939,000 a year ago. Income before income tax was $13,408,000 compared to $7,212,000 a year ago. Net income available to common shareholders was $7,650,000 or $0.30 per basic and diluted share compared to $5,603,000 or $0.25 per basic and diluted share a year ago. Return on average assets was 0.79% compared to 0.69% a year ago. Return on average common stockholders' equity was 6.75% compared to 6.49% a year ago. Book value per common share as at December 31, 2017 was $17.90 compared to $15.37 a year ago. Tangible book value per common share as at December 31, 2017 was $12.72 compared to $11.48 a year ago.

For the year, the company's total interest income was $128,483,000 compared to $106,529,000 a year ago. Net interest income was $112,100,000 compared to $85,992,000 a year ago. Income before income tax was $47,953,000 compared to $32,713,000 a year ago. Net income available to common shareholders was $33,117,000 or $1.43 per basic and diluted share compared to $23,870,000 or $1.19 per diluted share a year ago. Return on average assets was 0.97% for the year ended December 31, 2017 compared to 0.81% for the year ended December 31, 2016. Return on average common stockholders' equity was 8.74% compared to 7.92% a year ago. The increase in net income and diluted earnings per share from 2016 to 2017 reflects an increase in net interest income of $26.1 million offset by a decrease in non-interest income of $2.3 million and increases in non-interest expense of $7.9 million, income tax expense of $6.0 million and provision for loan losses of $628,000. Core net income for the year ended December 31, 2017 was $35.5 million, or $1.53 diluted earnings per share, compared to $29.2 million, or $1.45 diluted earnings per share, for the year ended December 31, 2016.

Total net charge-offs for the fourth quarter of 2017 were $292,000 compared to $310,000 a year ago.