HBNCHORIZON BANCORP INC /IN/
State Commercial Banks
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $1.1B
- Employees
- —
- Net debt / EBITDA
- —
- $5M net debt
- AI in 10-K
- 1.4
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo37% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo2% of assetsOver 40% of assets
- Shareholder dissentNo94% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo1.4 per 10K words · 43rd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.1B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$72K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | $87M | $93M | $28M | $35M | −$150M | 525% |
| Operating cash flow | $106M | $94M | $89M | $6M | $79M | 1144% |
| Capex | $1M | $6M | $8M | $5M | $5M | 2.5% |
| Stock-based comp | $2M | $2M | $4M | $5M | $2M | 65% |
| Buybacks | $8M | $0 | $0 | $0 | — | |
| Dividends | $25M | $28M | $28M | $28M | $29M | 4.1% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $90K · 2
- Open-market sells, 12 mo
- $162K · 1
- Net
- −$72K
Pay vs performance
No pay-versus-performance disclosure yet.