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Pay vs Performance Disclosure
6 Months Ended 12 Months Ended
Dec. 31, 2023
Jun. 30, 2023
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure            
Pay vs Performance Disclosure, Table    
(a)(b)(b)(c)(c)(d)(e)(f)(g)(h)(i)
Summary Compensation Table Total for Principal Executive Officer (PEO)Compensation Actually Paid
(CAP)
Average Summary Compensation Value of Initial Fixed $100 Investment Based OnCompany Selected Measure (CSM):
Year
First CEO(1)
Second CEO (2)
First
CEO (3)
Second
CEO (3)
Table Total for Non-PEO NEOs(4)
Actually Paid to Non-PEO NEOs(5)
Company Total Shareholder Return (TSR) (6)
Peer Group TSR (7)
Net Income (in Millions) (8)
Return on Average Assets (9)
2023$1,993,309 $1,110,057 $2,159,459 $1,178,271 $560,562 $564,155 100.47 100.70 $27.98 0.36 %
20221,328,910 N/A991,735 N/A648,922 550,248 63.12 81.23 93.41 1.24 %
20211,402,359 N/A1,697,391 N/A660,875 787,483 138.19 144.69 87.09 1.34 %
20201,281,359 N/A1,170,072 N/A597,260 584,487 86.18 90.39 68.50 1.22 %
     
Company Selected Measure Name     •Return on Average Assets      
Named Executive Officers, Footnote    
Amounts reported in this column and others related to the "First CEO" are for Craig M. Dwight, who served as Chief Executive Officer of Horizon until his retirement from the Company on June 1, 2023. The dollar amounts reported in this column are the amounts of total compensation reported for Mr. Dwight for each corresponding year in the “Total” column of the Summary Compensation Table (“SCT”). See “Executive Compensation – Executive Compensation Tables – Summary Compensation Table for 2023.”
The dollar amounts reported in column (d) represent the average of the amounts reported for Horizon’s named executive officers (NEOs) as a group (excluding Mr. Dwight and Mr.Prame) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding Mr. Dwight and Mr. Prame) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2023, Mark E. Secor, Kathie A. DeRuiter, Lynn M. Kerber, and Todd A. Etzler; (ii) for 2022, Mark E. Secor, Thomas M. Prame, Kathie A. DeRuiter, and Lynn M. Kerber; (iii) for 2021, James D. Neff, Mark E. Secor, Dennis J. Kuhn, and Kathie A. DeRuiter; and (iv) for 2020, James D. Neff, Mark E. Secor, Dennis J. Kuhn, and Kathie A. DeRuiter.
     
Peer Group Issuers, Footnote     Peer Group TSR the SNL Micro Cap Bank Index is illustrated.
Total Shareholder Return of Horizon and Total Shareholder Return of Peer Group
The Company’s TSR over the three year period presented in the table is aligned with compensation actually paid when comparing the TSR of the peer group presented over the three years presented in the table. The Company’s TSR during the three years presented in the table, representing the Company’s financial performance, industry performance and market conditions as compared to the companies comprising the peer group were directionally consistent. For more information regarding the Company’s performance and the companies that the Compensation Committee considers when determining compensation, refer to “Compensation Discussion and Analysis.”
     
PEO Total Compensation Amount       $ 1,328,910 $ 1,402,359 $ 1,281,359
PEO Actually Paid Compensation Amount       991,735 1,697,391 1,170,072
Adjustment To PEO Compensation, Footnote    
Compensation Actually Paid to First CEO
YearSalary
(A)
Stock Awards
(B)
Non–Equity Incentive Plan Compensation
(C)
All Other Compensation
(D)
SCT Total
(E)
Deductions from SCT Total
(F)
Additions to SCT Total
(G)
CAP
2023$342,118 $844,977 $— $806,214 $1,993,309 $(844,977)$1,011,127 $2,159,459 
2022635,000 419,969 190,500 83,441 1,328,910 (419,969)82,794 991,735 
2021605,000 284,980 438,625 73,754 1,402,359 (284,980)580,012 1,697,391 
2020585,000 260,000 365,625 70,734 1,281,359 (260,000)148,713 1,170,072 
Compensation Actually Paid to Second CEO
YearSalary
(A)
Stock Awards
(B)
Non–Equity Incentive Plan Compensation
(C)
All Other Compensation
(D)
SCT Total
(E)
Deductions from SCT Total
(F)
Additions to SCT Total
(G)
CAP
2023$580,769 $299,981 $176,771 $52,536 $1,110,057 $(299,981)$368,195 $1,178,271 

(A)
The dollar amounts in the “Salary” columns are the amounts reported for Mr. Dwight and Mr. Prame for each corresponding year in the “Salary” column of the Summary Compensation Table.
(B)
The dollar amounts in the “Stock Awards” columns are the amounts reported for Mr. Dwight and Mr. Prame for each corresponding year in the “Stock Awards” column of the SCT.
(C)The dollar amounts in the “Non-Equity Incentive Plan Compensation” columns are the amounts reported for Mr. Dwight and Mr. Prame for each corresponding year in the “Non-Equity Incentive Plan Compensation” column of the SCT.
(D)The dollar amounts in the “All Other Compensation” columns are the amounts reported for Mr. Dwight and Mr. Prame for each corresponding year in the “All Other Compensation” column of the SCT.
(E)The dollar amounts in the “SCT Total” columns are the amounts reported for Mr. Dwight and Mr. Prame for each corresponding year in the “Total” column of the SCT.
(F)The dollar amounts in the “Deductions from SCT Total” columns are the total of the amounts reported for Mr. Dwight and Mr. Prame in the “Stock Awards” and “Option Awards” columns, as applicable, in the SCT for the applicable year.
(G)The dollar amounts in the “Additions to SCT Total” column reflect the addition (or subtraction, as applicable) of the following equity award adjustments for Mr. Dwight and Mr. Prame for the applicable year: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year.
     
Non-PEO NEO Average Total Compensation Amount     $ 560,562 648,922 660,875 597,260
Non-PEO NEO Average Compensation Actually Paid Amount     $ 564,155 550,248 787,483 584,487
Adjustment to Non-PEO NEO Compensation Footnote    
Compensation Actually Paid to Non–PEO
YearSalaryStock AwardsNon–Equity Incentive Plan CompensationAll Other CompensationSCT TotalDeductions from SCT TotalAdditions to SCT TotalCAP
2023$312,682 $133,020 $55,450 $59,410 $560,562 $(133,020)$136,613 $564,155 
2022283,549 253,466 69,707 42,200 648,922 (253,466)154,792 550,248 
2021322,072 128,829 154,413 55,561 660,875 (128,829)255,437 787,483 
2020310,773 124,293 104,143 58,051 597,260 (124,293)111,520 584,487 

(6)
TSR for Horizon Bancorp, Inc. is cumulative total TSR returns on common share from S&P Global Market Intelligence, respectively for each period.
(7)
Peer Group TSR the SNL Micro Cap Bank Index is illustrated.
(8)
The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year.
(9)
The percentages reported represent the amount of net income reflected in the Company’s audited financial statements divided by the reported average assets for the applicable year.
     
Compensation Actually Paid vs. Total Shareholder Return    
Compensation Actually Paid and Total Shareholder Return
The amount of compensation actually paid to Messrs. Prame and Dwight and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding Messrs. Prame and Dwight) are aligned with the Company’s cumulative TSR over the three years presented in the table. The alignment of compensation actually paid with the Company’s cumulative TSR over the period presented is because a significant portion of the compensation actually paid to Messrs. Prame and Dwight and to the other NEOs is comprised of equity awards. As described in more detail in the section “Compensation Discussion and Analysis,” the Company targets approximately 35 to 60% of the NEO’s base salary to determine the award value of the NEO’s equity awards, including time-based restricted stock and performance-shares.
     
Compensation Actually Paid vs. Net Income    
Compensation Actually Paid and Net Income
The amount of compensation actually paid to Messrs. Prame and Dwight and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding Messrs. Prame and Dwight) are generally aligned with the Company’s net income. Between 2021 and 2022 the amount of compensation actually paid to Messrs. Prame and Dwight and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding Messrs. Prame and Dwight) decreased. This was primarily the result of the Company’s stock price decreasing during 2022, which is the primary factor in the decrease. Net income decreased between 2022 and 2023 partially due to the restructure of the balance sheet reducing net income while the amount of compensation actually paid to the Company’s NEOs as a group (excluding Messrs. Prame and Dwight) increased. This was primarily the result of the Company’s stock compensation awarded in the CEO transition, which is the primary factor in the increase.
     
Compensation Actually Paid vs. Company Selected Measure    
Compensation Actually Paid and Return on Average Assets
The amount of compensation actually paid to Messrs. Prame and Dwight and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding Messrs. Prame and Dwight) are generally aligned with the Company’s return on average assets for the three years presented in the table. Return on average assets decreased between 2022 and 2023 partially due to the restructure of the balance sheet reducing net income while the amount of compensation actually paid to the Company’s NEOs as a group (excluding Messrs. Prame and Dwight) increased. This was primarily the result of the Company’s stock compensation awarded in the CEO transition, which is the primary factor in the increase. The Company uses return on average assets as a performance measure in the performance-shares that are awarded to the NEOs. As described in more detail in the section “Compensation Discussion and Analysis,” the Company targets approximately 33% of the calculation for the NEOs in determining the total award for the performance-shares.
     
Tabular List, Table    
Revenue
Return on Average Assets
Relative TSR (the Company’s TSR as compared to a peer group established by the Compensation Committee)
     
Total Shareholder Return Amount     $ 100.47 63.12 138.19 86.18
Peer Group Total Shareholder Return Amount     100.70 81.23 144.69 90.39
Net Income (Loss)     $ 27,980,000 $ 93,410,000 $ 87,090,000.00 $ 68,500,000
Company Selected Measure Amount     0.0036 0.0124 0.0134 0.0122
Additional 402(v) Disclosure    
Amounts reported in this column and others related to the "Second CEO" are for Thomas M. Prame, who succeeded Mr. Dwight as Chief Executive Officer of the Company upon Mr. Dwight's retirement. The dollar amounts reported in this column are the amounts of total compensation reported for Mr. Prame for 2023 in the “Total” column of the Summary Compensation Table (“SCT”). See “Executive Compensation – Executive Compensation Tables – Summary Compensation Table for 2023.”
The dollar amounts reported in columns (c) represent the amount of “compensation actually paid” to Mr. Dwight and Mr. Prame, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Dwight and Mr. Prame during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to Mr. Dwight’s and Mr. Prame's total compensation for each year to determine the compensation actually paid:
Compensation Actually Paid to First CEO
YearSalary
(A)
Stock Awards
(B)
Non–Equity Incentive Plan Compensation
(C)
All Other Compensation
(D)
SCT Total
(E)
Deductions from SCT Total
(F)
Additions to SCT Total
(G)
CAP
2023$342,118 $844,977 $— $806,214 $1,993,309 $(844,977)$1,011,127 $2,159,459 
2022635,000 419,969 190,500 83,441 1,328,910 (419,969)82,794 991,735 
2021605,000 284,980 438,625 73,754 1,402,359 (284,980)580,012 1,697,391 
2020585,000 260,000 365,625 70,734 1,281,359 (260,000)148,713 1,170,072 
Compensation Actually Paid to Second CEO
YearSalary
(A)
Stock Awards
(B)
Non–Equity Incentive Plan Compensation
(C)
All Other Compensation
(D)
SCT Total
(E)
Deductions from SCT Total
(F)
Additions to SCT Total
(G)
CAP
2023$580,769 $299,981 $176,771 $52,536 $1,110,057 $(299,981)$368,195 $1,178,271 

(A)
The dollar amounts in the “Salary” columns are the amounts reported for Mr. Dwight and Mr. Prame for each corresponding year in the “Salary” column of the Summary Compensation Table.
(B)
The dollar amounts in the “Stock Awards” columns are the amounts reported for Mr. Dwight and Mr. Prame for each corresponding year in the “Stock Awards” column of the SCT.
(C)The dollar amounts in the “Non-Equity Incentive Plan Compensation” columns are the amounts reported for Mr. Dwight and Mr. Prame for each corresponding year in the “Non-Equity Incentive Plan Compensation” column of the SCT.
(D)The dollar amounts in the “All Other Compensation” columns are the amounts reported for Mr. Dwight and Mr. Prame for each corresponding year in the “All Other Compensation” column of the SCT.
(E)The dollar amounts in the “SCT Total” columns are the amounts reported for Mr. Dwight and Mr. Prame for each corresponding year in the “Total” column of the SCT.
(F)The dollar amounts in the “Deductions from SCT Total” columns are the total of the amounts reported for Mr. Dwight and Mr. Prame in the “Stock Awards” and “Option Awards” columns, as applicable, in the SCT for the applicable year.
(G)The dollar amounts in the “Additions to SCT Total” column reflect the addition (or subtraction, as applicable) of the following equity award adjustments for Mr. Dwight and Mr. Prame for the applicable year: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year.
The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding Mr. Dwight and Mr. Prame), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding Mr. Dwight and Mr. Prame) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to average total compensation for the NEOs as a group (excluding Mr. Dwight and Mr. Prame) for each year to determine the compensation actually paid, using the same methodology described above in footnote (2) above:
Compensation Actually Paid to Non–PEO
YearSalaryStock AwardsNon–Equity Incentive Plan CompensationAll Other CompensationSCT TotalDeductions from SCT TotalAdditions to SCT TotalCAP
2023$312,682 $133,020 $55,450 $59,410 $560,562 $(133,020)$136,613 $564,155 
2022283,549 253,466 69,707 42,200 648,922 (253,466)154,792 550,248 
2021322,072 128,829 154,413 55,561 660,875 (128,829)255,437 787,483 
2020310,773 124,293 104,143 58,051 597,260 (124,293)111,520 584,487 

(6)
TSR for Horizon Bancorp, Inc. is cumulative total TSR returns on common share from S&P Global Market Intelligence, respectively for each period.
(7)
Peer Group TSR the SNL Micro Cap Bank Index is illustrated.
(8)
The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year.
(9)
The percentages reported represent the amount of net income reflected in the Company’s audited financial statements divided by the reported average assets for the applicable year.
Analysis of the Information Presented in the Pay versus Performance Table

In accordance with Item 402(v) of Regulation S-K, the Company is providing the following descriptions of the relationships between information presented in the Pay Versus Performance table.
     
Non-PEO NEO Salary     $ 312,682 $ 283,549 $ 322,072 $ 310,773
Non-PEO NEO Equity Incentive Plan Compensation     133,020 253,466 128,829 124,293
Non-PEO NEO Non-Equity Incentive Compensation     55,450 69,707 154,413 104,143
Non-PEO NEO Other Compensation     $ 59,410 42,200 55,561 58,051
Measure:: 1            
Pay vs Performance Disclosure            
Name     •Revenue      
Measure:: 2            
Pay vs Performance Disclosure            
Name     •Relative TSR (the Company’s TSR as compared to a peer group established by the Compensation Committee)      
Craig M. Dwight [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     $ 1,993,309 1,328,910 1,402,359 1,281,359
PEO Actually Paid Compensation Amount     2,159,459 991,735 1,697,391 1,170,072
PEO Name   Dwight        
PEO Salary     342,118 635,000 605,000 585,000
PEO Equity Incentive Plan Compensation     844,977 419,969 284,980 260,000
PEO Non-Equity Incentive Compensation     0 190,500 438,625 365,625
PEO Other Compensation     806,214 83,441 73,754 70,734
Thomas M. Prame [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     1,110,057      
PEO Actually Paid Compensation Amount     1,178,271      
PEO Name Prame          
PEO Salary     580,769      
PEO Equity Incentive Plan Compensation     299,981      
PEO Non-Equity Incentive Compensation     176,771      
PEO Other Compensation     52,536      
PEO | Craig M. Dwight [Member] | Deductions [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (844,977) (419,969) (284,980) (260,000)
PEO | Craig M. Dwight [Member] | Additions [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     1,011,127 82,794 580,012 148,713
PEO | Thomas M. Prame [Member] | Deductions [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (299,981)      
PEO | Thomas M. Prame [Member] | Additions [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     368,195      
Non-PEO NEO | Deductions [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (133,020) (253,466) (128,829) (124,293)
Non-PEO NEO | Additions [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     $ 136,613 $ 154,792 $ 255,437 $ 111,520