MICHIGAN CITY, Ind. (AP) — MICHIGAN CITY, Ind. (AP) — Horizon Bancorp (HBNC) on Wednesday reported a loss of $222 million in its third quarter.
The bank, based in Michigan City, Indiana, said it had a loss of $4.69 per share. Earnings, adjusted for non-recurring costs, were 30 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The bank holding company posted revenue of $96.6 million in the period. Its revenue net of interest expense was $62.2 million, which also fell short of Street forecasts.
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