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Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Earnings Per Share

Basic earnings per share is computed by dividing net income available to common shareholders (net income less dividend requirements for preferred stock and accretion of preferred stock discount) by the weighted-average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.

The following table shows computation of basic and diluted earnings per share.

		Three Months Ended								Nine Months Ended
		September 30								September 30
		2017				2016				2017				2016
		(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Basic earnings per share
Net income		$	8,171			$	6,602			$	25,467			$	18,309
Less: Preferred stock dividends			—				—				—				42
Net income available to common shareholders		$	8,171			$	6,602			$	25,467			$	18,267
Weighted average common shares outstanding(1)			22,580,160				21,538,752				22,326,454				19,252,295
Basic earnings per share		$	0.36			$	0.31			$	1.14			$	0.95
Diluted earnings per share
Net income available to common shareholders		$	8,171			$	6,602			$	25,467			$	18,267
Weighted average common shares outstanding(1)			22,580,160				21,538,752				22,326,454				19,252,295
Effect of dilutive securities:
Restricted stock			36,749				33,650				33,791				27,590
Stock options			98,364				79,551				95,553				66,491
Weighted average shares outstanding			22,715,273				21,651,953				22,455,798				19,346,376
Diluted earnings per share		$	0.36			$	0.30			$	1.13			$	0.94

⁽¹⁾ Adjusted for 3:2 stock split on November 14, 2016

There were zero shares for the three and nine months ended September 30, 2017 and 2016 which were not included in the computation of diluted earnings per share because they were non-dilutive.

Horizon has share-based employee compensation plans, which are described in the notes to the financial statements included in the December 31, 2016 Annual Report on Form 10-K.

Reclassifications

Reclassifications

Certain reclassifications have been made to the 2016 condensed consolidated financial statements to be comparable to 2017. These reclassifications had no effect on net income.

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Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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-Topic 260
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-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 50
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
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Disclosure of accounting policy for reclassifications that affects the comparability of the financial statements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755

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