This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Horizon Bancorp Announces Closing Of Heartland Bancshares Merger

Stocks in this article: HBNCHRTB

Horizon Bancorp (NASDAQ: HBNC) today announced it has closed its acquisition of Heartland Bancshares, Inc. (OTCBB: HRTB) and Horizon Bank N.A.’s acquisition of Heartland Community Bank, through mergers effective July 17, 2012. As previously announced, the banks will operate under a single Horizon Bank, N.A. charter, and Heartland’s locations will operate in Central Indiana as “Heartland Community Bank, a Horizon Bank, N.A. Company.” Heartland serves Central Indiana, south of Indianapolis, and has the No. 1 deposit market share in Johnson County according to the most recently published information by the Federal Deposit Insurance Corporation.

“We are thrilled to have completed this merger, and we were all pleased with the cooperation and teamwork demonstrated throughout the transaction process. We are confident the integration process will be as smooth and rapid,” said Craig M. Dwight, Horizon’s Chief Executive Officer. “Central Indiana represents an attractive, growth-oriented market for us,” said Dwight. “This merger provides a strong foothold in Central Indiana and further establishes Horizon’s position as an Indiana-focused financial institution. We also believe the two banks’ philosophies of exceptional customer service and commitment to community banking will result in a strong combined corporate culture that will continue to serve us well for years to come.”

Heartland’s co-founders, Steve Bechman and Jeffrey Goben will continue to provide their expertise as key managers of the Central Indiana banking operation. Steven W. Reed, a Heartland board member and partner with the Indianapolis-based public accounting firm BGBC Partners, LLP, has joined Horizon Bank’s board of directors. Consistent with Horizon’s practice of establishing local advisory boards, Bechman will appoint a local advisory board for Heartland’s market.

Dwight explained that the Heartland merger gives Horizon, based in Northwest Indiana, a significant physical presence in Central Indiana, and the opportunity to continue to expand throughout the northern half of Indiana. Heartland’s branch locations are located south of Indianapolis along the important I-65 corridor. To complement the new market presence, Horizon opened a new deposit and loan production office in Indianapolis in July 2012, its first presence in the Indiana capital and business hub.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,757.44 +296.12 1.80%
S&P 500 1,960.28 +33.17 1.72%
NASDAQ 4,471.8070 +88.96 2.03%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs