<SEC-DOCUMENT>0001193125-15-198722.txt : 20150717
<SEC-HEADER>0001193125-15-198722.hdr.sgml : 20150717
<ACCEPTANCE-DATETIME>20150522161735
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-15-198722
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20150522

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HORIZON BANCORP /IN/
		CENTRAL INDEX KEY:			0000706129
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				351562417
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		515 FRANKLIN SQUARE
		CITY:			MICHIGAN CITY
		STATE:			IN
		ZIP:			46360
		BUSINESS PHONE:		2198790211

	MAIL ADDRESS:	
		STREET 1:		515 FRANKLIN SQUARE
		CITY:			MICHIGAN CITY
		STATE:			IN
		ZIP:			46360

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CITIZENS MICHIANA FINANCIAL CORP
		DATE OF NAME CHANGE:	19861021
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<HTML><HEAD>
<TITLE>Correspondence</TITLE>
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 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g915197image025.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">May 22, 2015 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U><B><I>Via EDGAR</I></B></U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange
Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Kathryn
McHale, Senior Staff Attorney </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Horizon Bancorp </B></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Registration Statement on Form S-4 </B></TD></TR></TABLE>
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<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Filed on May 5, 2015 </B></TD></TR></TABLE>
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<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>File No. 333-203868 </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms. McHale: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have received your letter dated May&nbsp;21, 2015, detailing your office&#146;s review of the above-referenced Registration Statement on
Form S-4 (the &#147;<I>Registration Statement</I>&#148;) of Horizon Bancorp (the &#147;<I>Registrant</I>&#148;). On behalf of the Registrant, below are our responses to those comments. For your convenience, I have reproduced your comments and
requests for information in bold below followed by our responses in regular type. Contemporaneously with this letter, the Registrant also is filing Amendment No.&nbsp;1 to the Registration Statement (&#147;<I>Amendment No.&nbsp;1</I>&#148;)
reflecting our responses to your comments. References in this letter to the &#147;joint proxy statement/prospectus&#148; mean the joint proxy statement/prospectus, as amended, being filed with the Amendment No.&nbsp;1. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>* * * * * </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Prospectus Cover Page
</U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>In accordance with Item&nbsp;501(b)(2) of Regulation S-K, please provide the aggregate consideration that Peoples Bancorp shareholders will receive in connection with the merger. </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the Registrant has revised its disclosures on the cover page of the joint proxy
statement/prospectus as you requested. I refer you to the second-to-last sentence of the first full paragraph of the cover page of the joint proxy statement/prospectus for the additional disclosure, which reads as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; margin-right:4%; font-size:10pt; font-family:Times New Roman">&#147;Subject to the adjustments described in the Merger Agreement and based on Horizon&#146;s closing stock price of $24.27
on May&nbsp;21, 2015, the value of the aggregate consideration that Peoples&#146; shareholders will receive in the merger is approximately $75.8 million.&#148; </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kathryn McHale </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 22, 2015 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 2
 of 3 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>The Merger </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>We note that senior management of both Horizon and Peoples Bancorp provided financial projections to their respective financial advisors. Please disclose two years of any material projections or other material
non-public information, including revenue, income, and income per share provided by Horizon to either Peoples Bancorp or its financial advisor. Similarly, please revise this section to disclose any projections or other material non-public
information provided by Peoples Bancorp to Horizon or its financial advisors. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the
Staff&#146;s comment, the Registrant has revised its disclosures in the Registration Statement to include the projected financial information as you requested. I refer you to page 61 of the joint proxy statement/prospectus contained in Amendment
No.&nbsp;1 under the heading &#147;<I>Nonpublic Financial Projections Provided to Horizon and Peoples and Their Financial Advisors</I>&#148; for the additional disclosure. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Joint Opinion of Horizon&#146;s Financial Advisors, page 61 </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Please provide the information required by Section&nbsp;1015(b)(4) of Regulation M-A. Specifically, disclose any material relationship that has existed between each company and each financial advisor over the past
two years and the aggregate compensation paid by each company to each financial advisor for all services provided, including broker dealer services. </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the Registrant has revised its disclosures in the Registration Statement as you
requested. I refer you to the fourth full paragraph on page 61 of the joint proxy statement/prospectus contained in Amendment No.&nbsp;1 for the revised disclosure, which now reads as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; margin-right:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;For the two years preceding the date of their joint opinion delivered to the board of directors of
Horizon, Patrick Capital and C&amp;C have been jointly retained by Horizon to evaluate certain acquisition opportunities, including Horizon&#146;s acquisition of SCB Bancorp in April of 2014. For those services, Patrick Capital received compensation
totaling approximately $150,000.00, and C&amp;C received no direct compensation from Horizon. Except as disclosed above, there are no material relationships that existed during the two years prior to the date of Patrick Capital&#146;s and
C&amp;C&#146;s joint opinion or that are mutually understood to be contemplated, including the provision of any broker-dealer services, in which any compensation was received or is intended to be received as a result of the relationship between
Patrick Capital, C&amp;C, and any party to the merger. Moreover, Patrick Capital and C&amp;C have not been retained by Peoples for investment banking services in the same two year time frame. Patrick Capital and C&amp;C may seek to provide
investment banking services to Horizon in the future, for which Patrick Capital and C&amp;C would seek customary compensation. Additionally, Patrick Capital may trade Horizon&#146;s securities for its own account and for the accounts of its
customers and, accordingly, may at any time hold a long or short position in such securities. C&amp;C does not engage in the trading of such securities.&#148; </P>

<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kathryn McHale </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 22, 2015 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 3
 of 3 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Exhibits </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Exhibit 5.1 </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>The assumption in the second paragraph that the shares will be sold in compliance with federal and state securities laws is inappropriate. Please remove this assumption in rendering your opinion that the shares will
be validly issued, fully paid and non-assessable. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the legal
opinion has been revised as you requested. Please see the revised opinion, which has been filed as Exhibit 5.1 to Amendment No.&nbsp;1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Exhibit 8.1
</U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Your assumption that the merger will qualify as a statutory merger under Indiana state law is inappropriate. Please revise your opinion and corresponding prospectus disclosure to opine that the merger will qualify as
a statutory merger. See Staff Legal Bulletin No.&nbsp;19 (Oct. 14, 2011) for further guidance. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In
response to the Staff&#146;s comment, the legal opinion and corresponding prospectus disclosure have been revised as you requested. Please see the revised opinion, which has been filed as Exhibit 8.1 to Amendment No.&nbsp;1, as well as the
additional disclosure regarding the merger&#146;s qualification as a statutory merger in the last full paragraph on page 81 of the joint proxy statement/prospectus contained in Amendment No.&nbsp;1 under the heading &#147;<I>Material Federal Income
Tax Consequences &#150; General</I>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>* * * * * </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Registrant respectfully requests the Staff&#146;s assistance in completing its review of Amendment No.&nbsp;1 as soon as possible. Should
you have additional comments or questions, please contact me at (219)&nbsp;873-2611. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">/s/ Mark E. Secor</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Mark E. Secor</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Chief Financial Officer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top">Craig M. Dwight </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Claudia V. Swhier </P>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
