HORIZON BANCORP INC /IN/, 10-K filed on 3/13/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Mar. 11, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Entity File Number 000-10792    
Entity Registrant Name Horizon Bancorp, Inc.    
Entity Incorporation, State or Country Code IN    
Entity Tax Identification Number 35-1562417    
Entity Address, Address Line One 515 Franklin Street    
Entity Address, City or Town Michigan City    
Entity Address, State or Province IN    
Entity Address, Postal Zip Code 46360    
City Area Code 219    
Local Phone Number 879-0211    
Title of 12(b) Security Common stock, no par value    
Trading Symbol HBNC    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 655.8
Entity Common Stock, Shares Outstanding   51,225,946  
Documents Incorporated by Reference
Documents Incorporated by Reference
DocumentPart of Form 10–K into which portion of document is incorporated
Portions of the Registrant’s Proxy Statement to be filed for
its May 1, 2026 annual meeting of shareholders
Part III
    
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity Central Index Key 0000706129    
Document Transition Report false    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Name Forvis Mazars, LLP
Auditor Location Indianapolis, Indiana
Auditor Firm ID 686
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 66,813 $ 92,300
Interest-bearing deposits in banks 72,646 201,131
Total cash and cash equivalents 139,459 293,431
Interest earning time deposits 0 735
Investment securities, held for trading 3,883 0
Investment securities, available for sale 875,414 233,677
Investment securities, held to maturity (fair value of $0 and $1,566,268) 0 1,867,690
Loans held for sale 9,778 67,597
Loans, net of allowance for credit losses of $51,299 and $51,980 4,825,243 4,795,060
Premises and equipment, net 92,805 93,864
Federal Home Loan Bank stock 45,713 53,826
Goodwill 155,211 155,211
Other intangible assets 7,180 10,223
Interest receivable 29,733 39,747
Cash value of life insurance 36,732 37,450
Other assets 215,460 152,635
Total assets 6,436,611 7,801,146
Deposits    
Non-interest bearing 1,078,708 1,064,818
Interest bearing 4,196,709 4,535,834
Total deposits 5,275,417 5,600,652
Short and long term borrowings 248,586 1,232,252
Subordinated notes, net 98,215 55,738
Junior subordinated debentures issued to capital trusts 57,688 57,477
Interest payable 12,892 11,137
Other liabilities 55,562 80,308
Total liabilities 5,748,360 7,037,564
Commitments and contingent liabilities
Stockholders’ Equity    
Preferred stock 0 0
Common stock 0 0
Additional paid-in capital 459,243 363,761
Retained earnings 255,004 436,122
Accumulated other comprehensive loss (25,996) (36,301)
Total stockholders’ equity 688,251 763,582
Total liabilities and stockholders’ equity $ 6,436,611 $ 7,801,146
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Investment securities, held to maturity fair value $ 0 $ 1,566,268
Allowance for credit loss $ 51,299 $ 51,980
Preferred stock, shares authorized (in shares) 1,000,000 1,000,000
Preferred stock, shares issued (in shares) 0 0
Common stock, shares authorized (in shares) 99,000,000 99,000,000
Common stock, shares issued (in shares) 51,217,433 44,226,819
Common stock, shares outstanding (in shares) 51,217,433 44,226,819
v3.25.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest Income      
Interest and fees on loans $ 309,874 $ 291,069 $ 244,544
Investment securities - taxable 26,299 30,295 34,410
Investment securities - tax exempt 19,359 25,439 28,384
Other 7,245 9,680 4,967
Total interest income 362,777 356,483 312,305
Interest Expense      
Deposits 98,607 115,042 85,857
Short and long term borrowings 25,033 44,930 42,478
Subordinated notes 5,201 3,319 3,511
Junior subordinated debentures issued to capital trusts 4,452 4,588 4,715
Total interest expense 133,293 167,879 136,561
Net Interest Income 229,484 188,604 175,744
Credit loss expense 1,896 5,389 2,459
Net Interest Income after Provision for Credit Losses 227,588 183,215 173,285
Non-interest (Loss) Income      
Service charges on deposit accounts 13,231 12,940 12,227
Wire transfer fees 277 461 448
Interchange fees 13,599 13,799 12,861
Fiduciary activities 5,501 5,394 5,080
Loss on sale of investment securities (299,538) (39,140) (32,052)
Gain on sale of mortgage loans 4,799 4,215 4,323
Mortgage servicing income net of impairment 1,463 1,677 2,708
Increase in cash value of bank owned life insurance 1,420 1,300 3,709
Other income 2,798 2,325 2,694
Total non-interest (loss) income (256,450) 2,971 11,998
Non-interest Expense      
Salaries and employee benefits 89,737 88,244 80,809
Net occupancy expenses 13,867 13,376 13,355
Data processing 11,884 10,861 11,626
Professional fees 3,452 2,733 2,645
Outside services and consultants 13,422 14,564 9,942
Loan expense 4,340 4,076 4,980
FDIC insurance expense 5,100 5,032 3,880
Core deposit intangible amortization 3,044 3,403 3,612
Merger related expense 305 0 0
Prepayment Expense 12,680 0 0
Other losses 1,336 1,199 1,051
Other expense 13,124 15,348 14,384
Total non-interest expense 172,291 158,836 146,284
Income (Loss) Before Income Taxes (201,153) 27,350 38,999
Income tax expense (benefit) (50,671) (8,079) 11,018
Net Income (Loss) Available to Common Shareholders $ (150,482) $ 35,429 $ 27,981
Basic earnings per share (in USD per share) $ (3.24) $ 0.81 $ 0.64
Diluted earnings per share (in USD per share) $ (3.24) $ 0.80 $ 0.64
v3.25.4
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net Income (loss) $ (150,482) $ 35,429 $ 27,981
Change in fair value of derivative instruments:      
Change in fair value of derivative instruments for the period 0 0 (523)
Reclassification adjustment for swap termination (gains) realized in income 0 0 (1,453)
Income tax effect 0 0 415
Changes from derivative instruments 0 0 (1,561)
Change in securities:      
Unrealized gain (loss) for the period on AFS securities (284,181) (120) 20,728
Amortization from transfer of securities from available for sale to held to maturity securities (2,395) (657) (691)
Reclassification adjustment for securities (gains) losses realized in income 299,538 39,140 32,052
Income tax effect (2,657) (8,055) (10,939)
Unrealized gains (losses) on securities 10,305 30,308 41,150
Other Comprehensive Income (Loss), Net of Tax 10,305 30,308 39,589
Comprehensive Income (Loss) $ (140,177) $ 65,737 $ 67,570
v3.25.4
Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Total
Preferred Stock
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2022 $ 677,375 $ 0 $ 0 $ 354,188 $ 429,385 $ (106,198)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (loss) 27,981       27,981  
Other comprehensive income (loss), net of tax 39,589         39,589
Amortization of unearned compensation 3,586     3,586    
Net settlement of share awards (1,221)     (1,221)    
Stock retirement plans (153)     (153)    
Cash dividends on common stock (28,345)       (28,345)  
Ending balance at Dec. 31, 2023 718,812 0 0 356,400 429,021 (66,609)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (loss) 35,429       35,429  
Other comprehensive income (loss), net of tax 30,308         30,308
Amortization of unearned compensation 4,586     4,586    
Net settlement of share awards (1,371)     (1,371)    
Stock retirement plans 4,146     4,146    
Cash dividends on common stock (28,328)       (28,328)  
Ending balance at Dec. 31, 2024 763,582 0 0 363,761 436,122 (36,301)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (loss) (150,482)       (150,482)  
Other comprehensive income (loss), net of tax 10,305         10,305
Amortization of unearned compensation 1,621     1,621    
Net settlement of share awards (4,089)     (4,089)    
Issuance of common stock, net of expenses 97,950     97,950    
Cash dividends on common stock (30,636)       (30,636)  
Ending balance at Dec. 31, 2025 $ 688,251 $ 0 $ 0 $ 459,243 $ 255,004 $ (25,996)
v3.25.4
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Dividends declared (in USD per share) $ 0.64 $ 0.64 $ 0.64
Issuance of common stock, net of expenses (in shares) 7,138,050    
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities      
Net income (loss) $ (150,482) $ 35,429 $ 27,981
Items not requiring (providing) cash      
Provision for credit losses 1,896 5,389 2,459
Depreciation and amortization 10,304 10,331 10,938
Share based compensation 1,621 4,586 3,586
Amortization of mortgage servicing rights 2,095 1,971 1,032
Net amortization of premiums and discounts on securities 2,397 8,407 10,069
Purchases of securities held for trading (5,958) 0 0
Proceeds from maturities of securities held to maturity 2,100 0 0
Deferred income taxes (85,472) (17,000) (3,322)
Loss on sale of investment securities 299,538 39,140 32,052
Gain on sale of mortgage loans (4,799) (4,215) (4,323)
Net loss on sale of portfolio loans 324 0 0
Proceeds from sales of loans 164,460 435,522 145,922
Loans originated for sale (164,794) (499,688) (138,430)
Gain on cash value life insurance (1,987) (1,300) (3,709)
Gain on other real estate owned (69) (450) (300)
Net change in:      
Interest receivable 10,014 (1,037) (3,416)
Interest payable 1,755 (11,112) 16,869
Other assets 21,874 (9,698) 13,199
Other liabilities (25,586) 10,093 (21,671)
Net cash provided by operating activities 79,231 6,368 88,936
Investing Activities      
Purchases of securities available for sale (591,807) 0 (1,525)
Proceeds from sales of securities available for sale 1,409,870 293,138 439,285
Proceeds from maturities, calls and principal repayments of securities available for sale 55,147 16,712 29,408
Purchases of securities held to maturity 0 (312) (10,141)
Proceeds from maturities of securities held to maturity 63,783 71,649 80,201
Net change in interest-earning time deposits 735 1,470 607
Purchase of FHLB stock (301) (19,317) (7,832)
Redemption of FHLB stock 8,414 0 0
Purchase of loans 0 (240,020) (124,946)
Proceeds from sale of portfolio loans 228,892 0 0
Net change in loans (193,893) (217,055) (140,510)
Proceeds on the sale of OREO and repossessed assets 895 2,000 2,981
Premises and equipment expenditures (4,956) (5,084) (7,775)
Proceeds from bank owned life insurance 2,705 44,043 69,765
Net cash provided by (used in) investing activities 979,484 (52,776) 329,518
Financing Activities      
Net change in deposits (325,235) (64,241) (192,881)
Proceeds from borrowings 140,296 512,759 866,099
Repayment of borrowings (1,132,392) (563,523) (654,157)
Net change in repurchase agreements (1,444) (46,118) (1,841)
Proceeds from issuance of subordinated notes, net 98,215 0 0
Repayment of subordinated notes (56,500) 0 (3,132)
Net settlement of share awards (4,089) (1,371) (1,221)
Proceeds from sale of SERP shares 0 4,146 0
Proceeds from issuance of common stock, net 97,950 0 0
Dividends paid on common stock (29,488) (28,328) (28,311)
Net cash used in financing activities (1,212,687) (186,676) (15,444)
Net Change in Cash and Cash Equivalents (153,972) (233,084) 403,010
Cash and Cash Equivalents, Beginning of Period 293,431 526,515 123,505
Cash and Cash Equivalents, End of Period 139,459 293,431 526,515
Additional Supplemental Information      
Interest paid 131,538 178,891 119,692
Income taxes paid 27,407 10,710 2,137
Transfer of loans to other real estate and repossessed assets 3,643 2,690 3,299
Transfer of held to maturity securities to available for sale 1,798,361 0 0
Transfer of LHI to HFS 184,092 87,638 0
Redemption of cash value of life insurance, not settled 0 0 43,962
Cash dividends declared, not paid 8,228 7,081 7,156
Qualified affordable housing investments obtained in exchange for funding commitments $ 0 $ 0 $ 14,491
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Operations and Summary of Significant Accounting Policies Nature of Operations and Summary of Significant Accounting Policies
Nature of Business — The consolidated financial statements of Horizon Bancorp, Inc. (“Horizon”) and its wholly owned subsidiary, Horizon Bank (“Bank”) together referred to as “Horizon,” conform to accounting principles generally accepted in the United States of America and reporting practices followed by the banking industry.
The Bank is a full–service commercial bank offering a broad range of commercial and retail banking and other services incident to banking along with a trust department that offers corporate and individual trust and agency services and investment management services. The Bank maintains 71 full service offices. The Bank has wholly owned direct and indirect subsidiaries: Horizon Investments, Inc. (“Horizon Investments”), Horizon Properties, Inc. (“Horizon Properties”), Horizon Insurance Services, Inc. (“Horizon Insurance”) and Horizon Grantor Trust. Horizon Investments manages the investment portfolio of the Bank. Horizon Properties manages the real estate investment trust. Horizon Insurance is used by the Company’s Wealth Management to sell certain insurance products. Horizon Grantor Trust holds title to certain company owned life insurance policies. Horizon conducts no business except that incident to its ownership of the subsidiaries.
Horizon formed Horizon Bancorp Capital Trust II in 2004 (“Trust II”) and Horizon Bancorp Capital Trust III in 2006 (“Trust III”) for the purpose of participating in pooled trust preferred securities offerings. The Company assumed additional debentures as the result of the following acquisitions: Alliance Financial Corporation in 2005, which formed Alliance Financial Statutory Trust I (“Alliance Trust”); American Trust & Savings Bank in 2010, which formed Am Tru Statutory Trust I (“Am Tru Trust”); Heartland Bancshares, Inc. in 2013, which formed Heartland (IN) Statutory Trust II (“Heartland Trust”); LaPorte Bancorp, Inc. in 2016, which had acquired City Savings Statutory Trust I (“City Savings Trust”); and Salin Bancshares, Inc. in 2019, which formed Salin Statutory Trust I (“Salin Trust”). See Note 13 of the Consolidated Financial Statements for further discussion regarding these previously consolidated entities that are now reported separately. The business of Horizon is not seasonal to any material degree.
Basis of Reporting — The consolidated financial statements include the accounts of Horizon and subsidiaries. All material inter-company accounts and transactions have been eliminated in consolidation.
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The allowance for credit losses and the fair values of financial instruments are particularly subject to change.
Business Combinations — Business combinations are accounted for using the acquisition method of accounting. The accounts of an acquired entity are included as of the date of acquisition, and any excess of purchase price over the fair value of the net assets acquired is capitalized as goodwill. Horizon typically issues Common Stock and/or pays cash for an acquisition, depending on the terms of the acquisition agreement. The value of Common Stock issued is determined based on the market price of the stock as of the closing of the acquisition. Acquisition costs are expensed when incurred.
Cash and Cash Equivalents — Cash and cash equivalents includes cash, deposits with other financial institutions with original maturities under 90 days, and federal funds sold.
Fair Value Measurements — Horizon uses fair value measurements to record fair value adjustments, to certain assets, and liabilities and to determine fair value disclosures. Horizon has adopted Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures for all applicable financial and nonfinancial assets and liabilities. This accounting guidance defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. This guidance applies only when other guidance requires or permits assets or liabilities to be measured at fair value; it does not expand the use of fair value in any new circumstances.
As defined in codification, fair value is the price to sell an asset or transfer a liability in an orderly transaction between market participants. It represents an exit price at the measurement date. Market participants are buyers and sellers, who are independent, knowledgeable, and willing and able to transact in the principal (or most advantageous) market for the asset or liability being measured. Current market conditions, including imbalances between supply and demand, are considered in determining fair value. Horizon values its assets and liabilities in the principal market where it sells the particular asset or transfers the liability with the greatest volume and level of activity. In the absence of a principal market, the valuation is based on the most advantageous market for the asset or liability (i.e., the market where the asset could be sold or the liability transferred at a price that maximizes the amount to be received for the asset or minimizes the amount to be paid to transfer the liability).
In measuring the fair value of an asset, Horizon assumes the highest and best use of the asset by a market participant to maximize the value of the asset, and does not consider the intended use of the asset.
When measuring the fair value of a liability, Horizon assumes that the nonperformance risk associated with the liability is the same before and after the transfer. Nonperformance risk is the risk that an obligation will not be satisfied and encompasses not only Horizon’s own credit risk (i.e., the risk that Horizon will fail to meet its obligation), but also other risks such as settlement risk. Horizon considers the effect of its own credit risk on the fair value for any period in which fair value is measured.
There are three acceptable valuation techniques that can be used to measure fair value: the market approach, the income approach and the cost approach. Selection of the appropriate technique for valuing a particular asset or liability takes into consideration the exit market, the nature of the asset or liability being valued, and how a market participant would value the same asset or liability. Ultimately, determination of the appropriate valuation method requires significant judgment, and sufficient knowledge and expertise are required to apply the valuation techniques.
Valuation inputs refer to the assumptions market participants would use in pricing a given asset or liability using one of the three valuation techniques. Inputs can be observable or unobservable. Observable inputs are those assumptions which market participants would use in pricing the particular asset or liability. These inputs are based on market data and are obtained from a source independent of Horizon. Unobservable inputs are assumptions based on Horizon’s own information or estimate of assumptions used by market participants in pricing the asset or liability. Unobservable inputs are based on the best and most current information available on the measurement date. All inputs, whether observable or unobservable, are ranked in accordance with a prescribed fair value hierarchy which gives the highest ranking to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest ranking to unobservable inputs (Level 3). Fair values for assets or liabilities classified as Level 2 are based on one or a combination of the following factors: (i) quoted prices for similar assets; (ii) observable inputs for the asset or liability, such as interest rates or yield curves; or (iii) inputs derived principally from or corroborated by observable market data. The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company considers an input to be significant if it drives 10% or more of the total fair value of a particular asset or liability.
Assets and liabilities are considered to be fair valued on a recurring basis if fair value is measured regularly (i.e., daily, weekly, monthly or quarterly). Recurring valuation occurs at a minimum on the measurement date. Assets and liabilities are considered to be fair valued on a nonrecurring basis if the fair value measurement of the instrument does not necessarily result in a change in the amount recorded on the balance sheet. Generally, nonrecurring valuation is the result of the application of other accounting pronouncements which require assets or liabilities to be assessed for impairment or recorded at the lower of cost or fair value. The fair value of assets or liabilities transferred in or out of Level 3 is measured on the transfer date, with any additional changes in fair value subsequent to the transfer considered to be realized or unrealized gains or losses.
Investment Securities Available for Sale — Horizon designates a portion of its investment portfolio as available for sale based on management’s plans to use such securities for asset and liability management, liquidity and not to hold such securities as long-term investments. Management repositions the portfolio to take advantage of future expected interest rate trends when Horizon’s long-term profitability can be enhanced. Investment securities available for sale and marketable equity securities are carried at estimated fair value and any net unrealized gains/losses (after tax) on these securities are included in accumulated other comprehensive income. Amortization of premiums and accretion of discounts are recorded as interest income from securities. Gains/losses on the disposition of securities available for sale are recognized at the time of the transaction and are determined by the specific identification method.
Investment Securities Held to Maturity — Includes any security for which Horizon has the positive intent and ability to hold until maturity. These securities are carried at amortized cost.
Investment Securities Held for Trading — Horizon maintains a portfolio of securities classified as trading securities, which include debt and equity instruments that are purchased with the intent of selling them in the near term. Trading securities are recorded at fair value, and both realized and unrealized gains and losses are recognized in earnings.
Loans — Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts, deferred loan fees and costs. Accrued interest receivable totaling $23.7 million and $25.6 million at December 31, 2025 and 2024 was excluded from the Allowance for Credit Losses (“ACL”) calculation and was reported in accrued interest receivable on the consolidated balance sheet. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the effective yield method without anticipating prepayments.
Interest on commercial, mortgage and installment loans is recognized over the term of the loans based on the principal amount outstanding. When principal or interest is past due 90 days or more, and the loan is not well secured or in the process of collection, or when serious doubt exists as to the collectability of a loan, the accrual of interest is discontinued. Loan origination fees, net of direct loan origination costs, are deferred and recognized over the life of the loan as a yield adjustment. Discounts and premiums on purchased loans are amortized to income using the interest method over the remaining period to contractual maturity, adjusted for anticipated prepayments.
From time to time, the Bank obtains information that may lead management to believe that the collection of payments may be doubtful on a particular loan. In recognition of this, it is management's policy to convert the loan from an “earning asset” to a non–accruing loan. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date. Further, it is management's policy to generally place a loan on non–accrual status when the payment is delinquent in excess of 90 days or the loan has had the accrual of interest discontinued by management. The officer responsible for the loan and the Chief Commercial Banking and/or the Chief Operations Officer must review all loans placed on non–accrual status. Subsequent payments on non–accrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Non–accrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal in accordance with the loan terms. The Company requires a period of satisfactory performance of not less than six months before returning a non–accrual loan to accrual status.
Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals and modifications unless either of the following applies: management has a reasonable expectation at the reporting date that a modified loan will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company.
Consistent with regulatory guidance, charge–offs on all loan segments are taken when specific loans, or portions thereof, are considered uncollectible. The Company's policy is to promptly charge these loans off in the period the uncollectible loss is reasonably determined.
For all loan portfolio segments except 1–4 family residential properties and consumer, the Company promptly charges off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower's ability to adequately meet its obligations. For impaired loans that are considered to be solely collateral dependent, a partial charge–off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral.
The Company charges off 1–4 family residential and consumer loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Company adheres to timeframes established by applicable regulatory guidance which provides for the charge–down or specific allocation of family first and junior lien mortgages to the net realizable value less costs to sell when the value is known but no later than when a loan is 180 days past due. Pursuant to such guidelines, the Company also charges off unsecured open–end loans when the loan is contractually 90 days past due. Loans at these respective delinquency thresholds for which the Company can clearly document that the loan is both well–secured and in the process of collection, such that collection in full will occur regardless of delinquency status, are not charged off.
A loan is individually evaluated when, based on current information, a creditor may be experiencing financial difficulty and repayment is substantially expected through operation or sale of collateral. For collateral–dependent assets individually evaluated, the Company utilizes, as a practical expedient, the fair value of collateral, adjusted for estimated costs to sell, when determining the allowance for credit losses.
Smaller–balance, homogeneous loans are evaluated in total. Such loans include residential first mortgage loans secured by 1–4 family residences, residential construction loans, automobile, home equity, second mortgage loans and mortgage warehouse loans. Commercial loans and mortgage loans secured by other properties are evaluated individually.
Modifications for Borrowers Experiencing Financial Difficulty — The Company may renegotiate the terms of existing loans for a variety of reasons. When refinancing or restructuring a loan, the Company evaluates whether the borrower is experiencing financial difficulty. In making this determination, the Company considers whether the borrower is currently in default on any of its debt. In addition, the Company evaluates whether it is probable that the borrower would be in payment default on any of its debt in the foreseeable future without the modification and if the borrower (without the current modification) could obtain equivalent financing from another creditor at a market rate for similar debt. Modifications of loans to borrowers in these situations may indicate that the borrower is facing financial difficulty
Loan modifications to borrowers experiencing financial difficulty may be in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay, or a term extension or a combination thereof, among other things. For disclosure purposes, an other-than-insignificant payment delay represents a deferral of payments of greater than 3 months within a 12 month period.
Purchased Credit Deteriorated (“PCD”) Loans — The Company has purchased loans, some of which have experienced credit deterioration since origination. PCD loans are recorded at the amount paid. An ACL on loans is determined using the same methodology as other loans held for investment. The initial ACL on loans determined on a collective basis is allocated to individual loans. The sum of the loan’s purchase price and ACL on loans becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized or accreted into interest income over the remaining life of the loan. Subsequent changes to the ACL on loans are recorded through credit loss expense.
Loans Held for Sale — Loans held for sale generally consist of mortgage loans originated and intended for sale in the secondary market and are carried at the lower of cost or fair value. Net unrealized losses, if any, are recognized through a valuation allowance by charges to non–interest income. Gains and losses on loan sales are recorded in non–interest income, and direct loan origination costs and fees are deferred at origination of the loan and are recognized in non–interest income upon sale of the loan.
As of December 31, 2025, the Company elected to transfer loans at the Charlevoix Branch at the lower of unamortized cost or fair market value to loans held for sale from the held for investment loan portfolio. At
December 31, 2025, loans held for sale consisted of mortgage loans originated for sale with a carrying value of $2.4 million and the Charlevoix Branch loans with a carrying value of $7.4 million.
Concentrations of Credit Risk — The Bank grants commercial, real estate, and consumer loans to customers located primarily in Indiana and Michigan. Commercial loans make up approximately 70% of the loan portfolio and are secured by both real estate and business assets. These loans are expected to be repaid from cash flows from operations of the businesses. The Bank does not have a concentration in speculative commercial real estate loans. Residential real estate loans make up approximately 16% of the loan portfolio and are secured by residential real estate. Installment loans make up approximately 14% of the loan portfolio and are primarily secured by consumer assets.
Allowance for Credit Losses (“ACL”) on Loans — The ACL on loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the ACL when management believes the loan balance is confirmed to be no longer collectible. Expected recoveries do not exceed the aggregate of amounts previously charged off and expected to be charged off.
Management estimates the ACL balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan–specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as for changes in environmental conditions, changes in economic conditions, or other relevant factors.
The Company considers the following when estimating credit losses: 1) available information relevant to assessing the collectibility of cash flows including internal information, external information or a combination of both relating to past events, current conditions and reasonable and supportable forecasts; 2) relevant qualitative and quantitative factors relating to the environment in which the Company operates and factors specific to the borrower; 3) off–balance sheet credit exposures; and credit support.
For periods beyond the reasonable and supportable forecast period, management applies a reversion method to estimate expected credit losses. The reversion method involves gradually reverting to historical loss experience over a specified period. Typically, the Company used a straight-line reversion method over a four-quarter period. Subsequent to the four quarter reversion period, the historical loss rate is applied to the remaining life of the loan.
ACL on loans is measured on a collective basis and reflects impairment in groups of loans aggregated on the basis of similar risk characteristics which may include any one or a combination of the following: internal credit ratings, risk ratings or classification, financial asset type, collateral type, size, industry of the borrower, historical or expected credit loss patterns, and reasonable and supportable forecast periods. The ACL for a specific portfolio segment is computed by multiplying the loss rate by the amortized cost balance of the segment with adjustments for other qualitative factors as described above. As appropriate, newer credit products or portfolios with limited historical loss may use applicable external data for determining the ACL until experience justifies that sufficient product maturity supports the estimate of expected credit losses.
Pursuant to ASC 326–20–30–9, an entity shall not rely solely on past events to estimate expected credit losses, and should consider adjustments to historical information to reflect the extent to which management expects current conditions and forecasted conditions to differ from the periods utilized for the historical loss rate calculation. Management has incorporated an adjustment of the historical loss rate calculated within the model to reflect current and forecasted condition and has applied this adjustment on a qualitative factor basis to the aggregate pool loss rate.
The qualitative adjustment is based on a combination of external econometric data and internal factors such as portfolio composition, changes in management, changes in loan policy and other factors. The economic forecast is based in part on economic indexes and quantitative matrices with a twenty–four month forecast. The qualitative adjustment is calculated based on current and forecasted conditions and evaluated each quarter by management, and therefore is dynamic in nature. The qualitative economic adjustment is then reverted over a twelve month period to the historical base loss rate which is preserved in the calculation of “all in” loss rate.
Specific reserves reflect collateral shortfalls on loans identified for evaluation or individually considered non–performing, including troubled debt restructurings and receivables where the Company has determined foreclosure
is probable. These loans no longer have similar risk characteristics to collectively evaluated loans due to changes in credit risk, borrower circumstances, recognition of write–offs, or cash collections that have been fully applied to principal on the basis of non–accrual policies. At a minimum, the population of loans subject to individual evaluation include individual loans and leases where it is probable we will be unable to collect all amounts due, according to the original contractual terms. These include commercial impaired loans, jumbo residential mortgages (as defined), and jumbo home equity loans with a balance exceeding $250,000, and other loans as determined by management. ACL for residential and consumer loans are, primarily, determined by pools of similar loans and are evaluated on a quarterly basis.
Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate.
Allowance for Credit Losses on Off–Balance Sheet (“OBS”) Credit Exposures — The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The Company determines the estimated amount of expected credit extensions based on historical usage to calculate the amount of exposure for a loss estimate.
Allowance for Credit Losses on Available for Sale Securities — For available for sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For debt securities available for sale that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recorded in other comprehensive income.
Changes in the ACL are recorded as provision for, or reversal of, credit loss expense. Losses are charged against the allowance when management believes the available for sale security is confirmed to be uncollectible or when either of the criteria regarding intent or requirement to sell is met.
Allowance for Credit Losses on Held to Maturity Securities — For held to maturity securities, the Company conducts an assessment of its held to maturity securities at the time of purchase and on at least an annual basis to ensure such investment securities remain within appropriate levels of risk and continue to perform satisfactorily in fulfilling its obligations. The Company considers, among other factors, the nature of the securities and credit ratings or financial condition of the issuer. If available, the Company obtains a credit rating for issuers from the Nationally Recognized Statistical Rating Organization (“NRSRO”) for consideration. If this assessment indicates that a material credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss.
Premises and Equipment — Land is carried at cost. Premises and equipment are stated at cost, net of accumulated depreciation and amortization. Buildings and major improvements are capitalized and depreciated using primarily the straight-line method with useful lives ranging from 3 to 40 years. Furniture and equipment are capitalized and depreciated using primarily the straight-line method with useful lives ranging from 2 to 20 years. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized. Gains and losses on disposition are included in current operations.
Repossessed Assets - Repossessed assets consist of property that has been repossessed and is comprised of commercial and residential real estate and other non-real estate property, including auto and recreational and
marine vehicles. The assets are initially recorded at fair value less estimated selling costs, establishing a new cost basis. Initial valuation adjustments are charged to the allowance for credit losses. Fair values are estimated primarily based on appraisals, third-party price opinions, or internally developed pricing models. After initial recognition, fair value estimates are updated periodically. Declines in fair value below cost are recognized through valuation allowances which may be reversed when supported by future increases in fair value. These valuation adjustments, in addition to gains and losses realized on sales and net operating expenses, are recorded in other non-interest expense. Repossessed assets are included in other assets on the consolidated balance sheet.
Federal Reserve and Federal Home Loan Bank of Indianapolis (FHLBI) Stock — The stock is a required investment for institutions that are members of the Federal Reserve Bank (“FRB”) and Federal Home Loan Bank (“FHLB”) systems. The required investment in the common stock is based on a predetermined formula.
Partnership Investments — The Company invests in partnerships that generate qualified affordable housing and solar tax credits. The Company has elected to account for partnership investments in qualified affordable housing using the proportional amortization method. Under the proportional amortization method, the initial cost of the investment is amortized to income tax expense in proportion to the tax credits and other tax benefits received. This net investment performance is recognized in the income statement as a component of income tax expense. The Company accounts for qualifying investment tax credits using the proportional amortization method and all others under the deferral method. The investment in the limited partnerships totaling $16.6 million and $24.9 million at December 31, 2025 and 2024, respectively is included in other assets in the consolidated balance sheets. The Company investments in qualified affordable housing tax credits and had funding commitments of $0.3 million at December 31, 2025. There has not been any significant amortization or tax credits recorded related to the qualified affordable housing tax credits at December 31, 2025.
Mortgage Servicing Rights — Mortgage servicing assets are recognized separately when rights are acquired through purchase or through sale of financial assets and included in other assets on the balance sheet. Under the servicing assets and liabilities accounting guidance (ASC 860-50), servicing rights resulting from the sale or securitization of loans originated by the Company are initially measured at fair value at the date of transfer. Under the amortization method, servicing rights are amortized in proportion to and over the period of estimated net servicing income. The amortized assets are assessed for impairment or increased obligation based on fair value at each reporting date.
Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. These variables change from quarter to quarter as market conditions and projected interest rates change, and may have an adverse impact on the value of the mortgage servicing right and may result in a reduction to non–interest income.
Each class of separately recognized servicing assets subsequently measured using the amortization method are evaluated and measured for impairment. Impairment is determined by stratifying rights into tranches based on predominant characteristics, such as loan term and rate type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that fair value is less than the carrying amount of the servicing assets for that tranche. The valuation allowance is adjusted to reflect changes in the measurement of impairment after the initial measurement of impairment. Changes in valuation allowances are reported with mortgage servicing income net of impairment on the income statement. Fair value in excess of the carrying amount of servicing assets for that stratum is not recognized.
Servicing fee income, which is reported on the income statement as mortgage servicing income, net, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Servicing fees totaled $1.5 million, $1.7 million and $2.7 million for the years ended December 31, 2025, 2024, and 2023, respectively. Late fees and ancillary fees related to loan servicing were not material.
Goodwill and Intangible Assets — Goodwill is tested annually for impairment or more frequently should potential triggering events be identified that may indicate potential impairment. At December 31, 2025, Horizon had core deposit intangibles of $7.2 million subject to amortization and $155.2 million of goodwill, which is not subject to amortization. Goodwill arising from business combinations represents the value attributable to unidentifiable intangible assets in the business acquired. Horizon’s goodwill relates to the value inherent in the banking industry and that value is dependent upon the ability of Horizon to provide quality, cost effective banking services in a competitive marketplace. The goodwill value is supported by revenue that is in part driven by the volume of business transacted. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. A large majority of the goodwill relates to the acquisitions of Heartland, Summit, Peoples, Kosciusko, LaPorte, Lafayette, Wolverine and Salin.
Advertising Costs — Advertising costs are expensed as incurred and included in non-interest expenses in the Consolidated Statement of Income. For the year ended December 31, 2025, 2024, and 2023, the Company incurred advertising costs of $0.7 million, $1.2 million, and $1.2 million, respectively.
Bank Owned Life Insurance (“BOLI”) – BOLI has been purchased on certain employees and directors of the Company. The Company records the life insurance at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due that are probable at settlement.
Securities Purchased Under Agreements to Resell, Securities Sold Under Agreements to Repurchase and Other Secured Borrowings — The Company purchases certain securities, generally U.S. government–sponsored entity and agency securities, under agreements to resell. The amounts advanced under these agreements represent short–term secured loans and are reflected as assets in the accompanying consolidated balance sheets. We also sell certain securities under agreements to repurchase. These agreements are treated as collateralized financing transactions. These and other secured borrowings such as loans sold not qualifying for sale accounting treatment, are reflected as liabilities in the accompanying consolidated balance sheets and are recorded at the amount of cash received in connection with the transaction. Short–term securities sold under agreements to repurchase generally mature within one to four days from the transaction date. Securities, generally U.S. government agency securities, pledged as collateral under these financing arrangements can be re–pledged by the secured party. Additional collateral may be required based on the fair value of the underlying securities.
Income Taxes — The Company accounts for income taxes in accordance with income tax accounting guidance (ASC 740, Income Taxes). The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized.
Uncertain tax positions are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment.
The Company recognizes interest and penalties on income taxes as a component of income tax expense.
The Company files consolidated income tax returns with its subsidiaries.
Trust Assets and Income — Property, other than cash deposits, held in a fiduciary or agency capacity is not included in the consolidated balance sheets since such property is not owned by Horizon.
Transfer of Financial Assets — The transfer of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company and put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets.
Earnings per Common 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.
Years Ended December 31
(dollar amounts in thousands, except per share)202520242023
Basic earnings per share
Net income (loss)$(150,482)$35,429 $27,981 
Weighted average common shares outstanding46,486,776 43,702,314 43,630,160 
Basic earnings per share$(3.24)$0.81 $0.64 
Diluted earnings per share
Net income (loss) available to common shareholders$(150,482)$35,429 $27,981 
Weighted average common shares outstanding46,486,776 43,702,314 43,630,160 
Effect of dilutive securities:
Restricted stock— 359,704 208,827 
Stock options— 2,472 4,893 
Weighted average common shares outstanding46,486,776 44,064,490 43,843,880 
Diluted Earnings per Share$(3.24)$0.80 $0.64 
Due to the net loss for the year ended December 31, 2025, all potential common shares are non-dilutive and are therefore excluded from diluted earnings per share. There were 85,212 and 226,028 shares for the years ended December 31, 2024 and December 31, 2023, respectively, which were not included in the computation of diluted earnings per share because they were non-dilutive.
On July 16, 2019, the Board of Directors of the Company authorized a stock repurchase program for up to 2,250,000 shares of Horizon’s issued and outstanding common stock, no par value. As of December 31, 2025, Horizon had repurchased a total of 803,349 shares at an average price per share of $16.89.
Consolidated Statements of Cash Flows — For purposes of reporting cash flows, cash and cash equivalents are defined to include cash and due from banks, money market investments and federal funds sold with maturities of one day or less. Horizon reports net cash flows for customer loan transactions, deposit transactions, short–term investments and short-term borrowings.
Comprehensive Income (Loss) — Comprehensive income (loss) consists of net income and other comprehensive income (loss), net of applicable income taxes. Other comprehensive income (loss) includes unrealized gain (loss) on available for sale securities, unrealized and realized gains and losses in cash flow derivative financial instruments and accretion (amortization) of available for sale securities transferred to held to maturity.
Share–Based Compensation — At December 31, 2025, Horizon had share–based compensation plans, which are described more fully in Note 20. All share–based payments are to be recognized as expense, based upon their fair values, in the financial statements over the vesting period of the awards. Horizon has recorded approximately $1.6 million, $4.6 million, and $3.6 million in compensation expense relating to vesting of stock options and restricted stock awards less estimated forfeitures for the year ended December 31, 2025, 2024 and 2023, respectively. The Company recognizes forfeitures as a reduction to expense only when they have occurred.
Derivative Financial Instruments — The Company occasionally enters into derivative financial instruments as part of its interest rate risk management strategies. These derivative financial instruments consist primarily of interest rate swaps. All derivative instruments are recorded on the Consolidated Balance Sheets, as either an asset or liability, at their fair value. The accounting for the gain or loss resulting from the change in fair value depends on the intended use of the derivative. For a derivative used to hedge changes in fair value of a recognized asset or liability, or an unrecognized firm commitment, the gain or loss on the derivative will be recognized in earnings together with the offsetting loss or gain on the hedged item. This results in an earnings impact only to the extent that the hedge is ineffective in achieving offsetting changes in fair value. If it is determined that the derivative instrument is not highly effective as a hedge, hedge accounting is discontinued and the adjustment to fair value of the derivative instrument is recorded in earnings. For a derivative used to hedge changes in cash flows associated with forecasted transactions, the gain or loss of the effective portion of the derivative will be deferred, and reported as accumulated other comprehensive income, a component of stockholders’ equity, until such time the hedged transaction affects earnings. For derivative instruments not accounted for as hedges, changes in fair value are recognized in non–interest income or non–interest expense. See Note 21 - Derivative Financial Instruments.
Revenue Recognition — Accounting Standards Codification 606, “Revenue from Contracts with Customers” (ASC 606) provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance enumerates five steps that entities should follow in achieving this core principle. Revenue generated from financial instruments, including loans and investment securities, are not included in the scope of ASC 606. The adoption of ASC 606 did not result in a change to the accounting of any of the Company’s revenue streams that are within the scope of the amendments. Revenue–gathering activities that are within the scope of ASC 606 and that are presented as non-interest income in the Company’s consolidated statements of income include:
•Service charges and fees on deposit accounts – these include general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer and overdraft activities. Revenue is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services.
•Fiduciary activities – this includes periodic fees due from trust and wealth management customers for managing the customers’ financial assets. Fees are charged based on a standard agreement and are recognized as they are earned.
Segments — The Company has identified one reporting unit and one operating segment, community banking, which encompasses commercial and consumer banking services to serve a similar base of clients utilizing company-wide offerings of similar products and services managed through similar processes and platforms offered to individuals, businesses, municipalities and other entities. See Note 26 - Segment Reporting for more details.
Adoption of New Accounting Standards
ASU No. 2023-09 "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09") requires additional annual disclosures including further disaggregation of information in the rate reconciliation, additional information for reconciling items meeting a quantitative threshold, further disaggregation of income taxes paid and other required disclosures. ASU 2023-09 became effective in 2025 (see Note 16 - Income Taxes)
Accounting Guidance Issued But Not Yet Adopted
ASU 2024-03 "Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses" ("ASU 2024-03") requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 requires new financial statement disclosures in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. The prescribed categories include, among other things, employee compensation, depreciation, and intangible asset amortization. Additionally, entities must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for the Company, on a prospective basis, for annual periods beginning in 2027, and interim periods within fiscal years beginning in 2028, though early adoption and retrospective application is permitted. ASU 2024-03 is not expected to have a significant impact on our financial statements.
ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements.” (“ASU-2025-09”) This ASU is effective for annual periods beginning after December 15, 2026. The amendments are intended to better align hedge accounting with the economics of entities’ risk‑management activities and to address implementation issues that emerged following ASU 2017‑12 and the transition away from LIBOR. The Company expects adoption will primarily affect documentation and processes and does not expect a material impact on the consolidated financial statements.
ASU No. 2025-06, "Intangibles—Goodwill and Other—Internal-Use Software" (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, seeking to update the guidance on accounting for software. This ASU addresses stakeholder and investor concerns on the challenges of applying current internal-use software accounting requirements that do not specifically address software developed using modern incremental and iterative methods, which has led to diversity in practice in determining when to begin capitalizing software costs. The ASU removes all references to a prescriptive and sequential software development method. The amendments require an entity to start capitalizing software costs when management has authorized and committed to funding the software project, and it is probable that the project will be completed and the software will be used to perform the function intended. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2027, and for interim reporting periods beginning after December 15, 2027. The Company does not anticipate this ASU will have a material impact on its financial statements.
ASU 2025‑08, "Financial Instruments - Credit Losses (Topic 326): Purchased Loans.” ASU 2025-08 expands the scope of the “gross‑up” method, formerly applicable only to purchased credit‑deteriorated ("PCD") assets, to include acquired non‑PCD loans that meet certain criteria, now referred to as “purchased seasoned loans” (PSLs). Under this model, an allowance for expected credit losses is recognized at acquisition, offsetting the loan’s amortized cost basis, thereby eliminating the day-one credit‑loss expense previously required for non‑PCD assets. PSLs are defined as non‑PCD loans acquired either (i) through a business combination, or (ii) purchased more than 90 days after origination when the acquirer was not involved in origination. ASU 2025-08 will be effective for us, on a prospective basis for loans acquired on or after the adoption date, for interim and annual reporting periods beginning in 2027, though early adoption is permitted. ASU 2025-08 is not expected to have a significant impact on our financial statements.
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Cash Equivalents
 12 Months Ended
Dec. 31, 2025
Cash and Cash Equivalents [Abstract]  
Cash Equivalents Cash Equivalents
The Company considers cash on hand, amounts due from banks, interest-bearing deposits in other financial institutions, and other highly liquid investments with original maturities of three months or less to be cash and cash equivalents. At December 31, 2025 and 2024, cash equivalents consisted primarily of deposits with other financial institutions and balances maintained at the Federal Reserve.
The Federal Reserve Act requires that the banks maintain cash reserve balances with the Federal Reserve Bank based principally on the type and amount of their deposits. At its option, the Company maintains additional balances to compensate for clearing and safekeeping services. At December 31, 2025, the Company’s cash accounts exceeded federally insured limits by approximately $101.5 million. Approximately $71.6 million of this amount was held by either the Federal Reserve Bank or the Federal Home Loan Bank of Indianapolis, which is not federally insured.
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Securities
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Securities Securities
The fair value of securities is as follows:
December 31, 2025
Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available for sale
U.S. Treasury, federal agencies, and government sponsored agencies$16,837 $— 16,837 70 $(2)$16,905 
State and municipal353,559 — 353,559 2,109 (36,003)319,665 
U.S. government agency mortgage-backed securities489,683 — 489,683 4,725 (234)494,174 
Corporate notes48,750 (120)48,630 — (3,960)44,670 
Total available for sale investment securities$908,829 $(120)$908,709 $6,904 $(40,199)$875,414 
December 31, 2025
Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Held to maturity
U.S. Treasury, federal agencies, and government sponsored agencies$— $— $— $— $— $— 
State and municipal— — — — — — 
U.S. government agency mortgage-backed securities— — — — — — 
Private labeled mortgage–backed pools— — — — — — 
Corporate notes— — — — — — 
Total held to maturity investment securities$— $— $— $— $— $— 
In August 2025, the Company reclassified its held-to-maturity investment portfolio, with a carrying value of $1.8 billion and unrealized loss of $282.6 million, to the available-for-sale portfolio as part of the Company's balance
sheet repositioning. Following the reclassification, the Company sold securities with a fair value of $1.4 billion, recognizing a pre-tax loss of $299.5 million upon sale.
The fair value of trading securities is as follows:
December 31, 2025December 31, 2024
Held for Trading
U.S. Treasury, federal agencies, and government sponsored agencies$3,883 $— 
State and municipal— — 
U.S. government agency mortgage-backed securities— — 
Corporate notes— — 
Total trading securities$3,883 0$— 
For the year-ended December 31, 2025, the net gains (losses) on trading securities were determined to be immaterial to the consolidated financial statements.
December 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available for sale
U.S. Treasury, federal agencies, and government sponsored agencies$2,258 $— $(457)$1,801 
State and municipal243,521 — (41,687)201,834 
U.S. government agency mortgage-backed securities17,984 — (3,441)14,543 
Corporate notes18,259 — (2,760)15,499 
Total available for sale investment securities$282,022 $— $(48,345)$233,677 

December 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Held to maturity
U.S. Treasury, federal agencies, and government sponsored agencies$278,383 $— $(39,253)$239,130 
State and municipal1,048,862 958 (183,114)866,706 
U.S. government agency mortgage-backed securities349,726 — (54,904)294,822 
Private labeled mortgage–backed pools29,278 — (3,958)25,320 
Corporate notes161,599 — (21,309)140,290 
Total held to maturity investment securities$1,867,848 $958 $(302,538)$1,566,268 
Less: Allowance for credit losses(158)
Held to maturity securities, net of allowance for credit losses$1,867,690 

The amortized cost and fair value of securities available for sale at December 31, 2025 by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
December 31, 2025
Amortized
Cost		Fair
Value
Available for sale
Within one year$15,836 $15,773 
One to five years47,706 46,646 
Five to ten years75,422 69,653 
After ten years280,182 249,168 
419,146 381,240 
U.S. government agency mortgage-backed securities489,683 494,174 
Total available for sale investment securities$908,829 $875,414 
The following tables show the gross unrealized losses and the fair value of the Company’s available for sale investments in which an allowance for credit losses were not recorded, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.
December 31, 2025
Less than 12 Months12 Months or MoreTotal
Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Available for Sale Investment Securities
U.S. Treasury, federal agencies, and government sponsored agencies$— $— $748 $(2)$748 $(2)
State and municipal26,804 (725)200,978 (35,278)227,782 (36,003)
U.S. government agency mortgage-backed securities40,547 (221)200 (13)40,747 (234)
Corporate notes— — 40,799 (2,951)40,799 (2,951)
Total available for sale investment securities$67,351 $(946)$242,725 $(38,244)$310,076 $(39,190)
December 31, 2024
Less than 12 Months12 Months or MoreTotal
Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Available for Sale Investment Securities
U.S. Treasury, federal agencies, and government sponsored agencies$— $— $1,801 $(457)$1,801 $(457)
State and municipal— — 201,834 (41,687)201,834 (41,687)
U.S. government agency mortgage-backed securities— — 14,543 (3,441)14,543 (3,441)
Corporate notes— — 15,499 (2,760)15,499 (2,760)
Total available for sale investment securities$— $— $233,677 $(48,345)$233,677 $(48,345)
Certain investments in debt securities are reported in the consolidated financial statements at an amount less than their historical cost. As of December 31, 2025 and 2024, the Company had 836 and 2,115 securities, respectively, with market values below their cost basis. The total fair value of these investments at December 31, 2025 and 2024 was $310.1 million and $1.8 billion, which is approximately 35% and 86%, respectively, of the Company's available for sale and held to maturity securities portfolio. These declines resulted primarily from fluctuations in market interest rates after purchase. Management believes the declines in fair value for these securities are temporary.
The Company determines credit losses on available-for-sale investment securities by a discounted cash flow approach using the security’s prepayment-adjusted effective interest rate. The allowance for credit losses is measured as the amount by which an investment security’s amortized cost exceeds the net present value of expected future cash flows. However, the amount of credit losses for available-for-sale investment securities is limited to the amount of a security’s unrealized loss.
The following table details activity in the allowance for credit losses on available for sale debt securities during the year-ended December 31, 2025 and 2024.
December 31,December 31,
20252024
Beginning balance$— $— 
Allowance for credit losses expense (benefit) - AFS Securities120 — 
Ending balance$120 $— 
Due to a specific issuer's deferral of principal and interest payments, the Company placed a corporate debt security with a fair value of $4.0 million on non-accrual status and recorded a $120 thousand allowance for credit losses.
Based on an evaluation of available evidence, management believes the unrealized losses on available for sale state and municipal securities and corporate notes, excluding certain securities disclosed above, were due to changes in interest rates. Due to the contractual terms, the issuers of state and municipal securities are not allowed to settle for less than the amortized cost of the security.
The allowance for credit losses for held to maturity securities is a contra asset valuation account that is deducted from the carrying amount of held to maturity securities to present the net amount expected to be collected. Held to maturity securities are charged off against the allowance for credit loss when deemed uncollectible. Adjustments to the allowance for credit loss are reported in our Consolidated Statements of Income in credit loss expense. We measure expected credit losses on held to maturity securities on a collective basis by major security type with each type sharing similar risk characteristics, and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. With regard to U.S. Government–sponsored treasuries, agency and mortgage–backed securities, all these securities are issued by a U.S. government–sponsored entity and have an implicit or explicit government guarantee; therefore, no allowance for credit losses has been recorded for these securities. With regard to obligations of states and municipal, private label mortgage–backed and corporate note held to maturity securities, we consider (1) issuer bond ratings, (2) historical loss rates for given bond ratings, (3) the financial condition of the issuer, and (4) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities. Historical loss rates associated with securities having similar grades as those in our portfolio have been insignificant. As of December 31, 2024, there were no past due principal and interest payments associated with these securities. An allowance for credit loss of $0 and $158 thousand was recorded on these securities based on applying the long–term historical rating agency credit loss rate for similarly rated securities at December 31, 2025 and December 31, 2024.
On a quarterly basis, the Company refreshes the credit quality indicator of each held-to-maturity security. The Company applies ratings derived from Nationally Recognized Statistical Rating Organizations ("NRSRO"), specifically Moody's and Standard & Poor's. For state and municipal securities where no rating is available from the NRSROs, a consistent internally-assigned rating methodology is applied. The amortized cost of these securities in the following tables subject to this methodology totaled $0 as of December 31, 2025, and $125 million as of December 31, 2024.
The following table summarizes credit ratings of our held-to-maturity securities at amortized cost for the periods indicated:
December 31, 2025AAAAAABBBBBNot RatedTotal
U.S. Treasury, federal agencies, and government sponsored agencies— — — — — — — 
State and municipal— — — — — — — 
U.S. government agency mortgage-backed securities— — — — — — — 
Private labeled mortgage-backed pools— — — — — — — 
Corporate notes— — — — — — — 
Total— — — — — — — 
December 31, 2024AAAAAABBBBBNot RatedTotal
U.S. Treasury, federal agencies, and government sponsored agencies— 278,383 — — — — 278,383 
State and municipal273,629 698,428 66,079 10,726 — — 1,048,862 
U.S. government agency mortgage-backed securities349,726 — — — — — 349,726 
Private labeled mortgage-backed pools29,278 — — — — — 29,278 
Corporate notes— 6,176 11,549 75,603 4,543 63,728 161,599 
Total652,633 982,987 77,628 86,329 4,543 63,728 1,867,848 
The following table details activity in the allowance for credit losses on held-to-maturity securities for the year ended December 31, 2025 and 2024.
December 31, 2025December 31, 2024
Beginning balance$158$157
Credit loss expense (benefit)(158)1
Ending balance$—$158
Accrued interest receivable on available for sale debt securities and held to maturity securities totaled $5.3 million and $12.7 million at December 31, 2025 and December 31, 2024, respectively, and is excluded from the estimate of credit losses.
The U.S. government sponsored entities and agencies and mortgage–backed securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major credit rating agencies, and have a long history of no credit losses. Therefore, for those securities, we do not record expected credit losses.
The Company does not intend to sell these securities prior to the recovery of the amortized cost, which may not occur until maturity. An allowance for credit losses of $120 thousand and zero was recognized for available for sale debt securities at December 31, 2025 and December 31, 2024, respectively.
Information regarding security proceeds, gross gains and gross losses are presented below.
Year Ended December 31
202520242023
Sales of securities available for sale
Proceeds$1,409,870 $293,138 $439,285 
Gross gains— 6 215 
Gross losses(299,538)(39,145)(32,267)
The tax benefit of the proceeds from the sale of securities available for sale was $62.9 million, $8.2 million and $6.7 million for the years ended December 31, 2025, 2024 and 2023, respectively.
The Company pledges securities related to borrowings capacity at the Federal Reserve and Federal Home Loan Bank. The following table represents the fair value and amortized costs of these pledged securities.
December 31, 2025December 31, 2024
Fair ValueAmortized CostFair ValueAmortized Cost
Pledged securities for borrowing availability at the Federal Reserve$114,727 $140,512 $851,384 $1,032,916 
Pledge securities for FHLB borrowings$— $— $279,136 $333,613 
Pledged securities for derivative instruments$— $— $6,234 $6,709 
v3.25.4
Loans
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Loans Loans
The table below identifies the Company's loan portfolio segments and classes.
Portfolio SegmentClass of Financing Receivable
CommercialOwner occupied real estate
Non-owner occupied real estate
Residential spec homes
Development & spec land
Commercial and industrial
Residential real estateResidential mortgage
Residential construction
ConsumerDirect installment
Indirect installment
Home equity
Portfolio segment is defined as a level at which an entity develops and documents a systematic methodology to determine its allowance for credit losses. Class of financing receivable is defined as a group of financing receivables determined on the basis of both of the following, 1) risk characteristics of the financing receivable, and 2) an entity’s method for monitoring and assessing credit risk. Generally, the Bank does not move loans from a revolving loan to a term loan other than construction loans. Construction loans are reviewed and rewritten prior to being originated as a term loan.
The following table presents total outstanding loans held of investment by portfolio class, as of December 31, 2025 and 2024.
December 31,
2025		December 31,
2024
Commercial
Owner occupied real estate$699,327 $667,165 
Non–owner occupied real estate1,669,260 1,501,456 
Residential spec homes17,741 15,611 
Development & spec land35,535 18,627 
Commercial and industrial1,010,545 875,297 
Total commercial3,432,408 3,078,156 
Real estate
Residential mortgage741,477 783,961 
Residential construction30,950 18,948 
Total real estate772,427 802,909 
Consumer
Direct installment77,174 97,190 
Indirect installment19,672 303,901 
Home equity574,861 564,884 
Total consumer671,707 965,975 
Total loans4,876,542 4,847,040 
Allowance for credit losses(51,299)(51,980)
Net loans$4,825,243 $4,795,060 
Total loans include net unearned discounts and deferred loan costs of $6.8 million and $14.9 million at December 31, 2025 and 2024, respectively.
The risk characteristics of each loan portfolio segment are as follows:
Commercial
Commercial loans are primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected, and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers.
Commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves larger loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets, the general economy or fluctuations in interest rates. The properties securing the Company’s commercial real estate portfolio are diverse in terms of property type, and are monitored for concentrations of credit. Management monitors and evaluates commercial real estate loans based on collateral, cash flow and risk grade criteria. As a general rule, the Company avoids financing single purpose projects unless other underwriting factors are present to help mitigate risk. In addition, management tracks the level of owner occupied commercial real estate loans versus non-owner occupied loans.
Real Estate and Consumer
With respect to residential loans that are secured by 1-4 family residences and are generally owner occupied, the Company generally establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. Home equity loans are typically secured by a subordinate interest in 1-4 family residences, and consumer loans are secured by consumer assets such as automobiles or recreational vehicles. Some consumer loans are unsecured such as small installment loans and certain lines of credit. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment can also be impacted by changes in property values on residential properties. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers.
Non–performing Loans
The following table presents non–accrual loans and loans past due over 90 days still on accrual by class of loans at December 31, 2025:
December 31, 2025
Total Non-accrualLoans Past Due Over 90 Days Still AccruingNon-accruing Loans with no Allowance for Credit Losses
Commercial
Owner occupied real estate$5,396 $— $1,599 
Non–owner occupied real estate3,026 — 1,074 
Residential spec homes— — — 
Development & spec land496 — 496 
Commercial and industrial5,631 — 3,951 
Total commercial14,549 — 7,120 
Real estate
Residential mortgage10,087 90 929 
Residential construction— — — 
Total real estate10,087 90 929 
Consumer
Direct installment342 373 — 
Indirect installment1,058 170 — 
Home equity6,421 1,856 — 
Total consumer7,821 2,399 — 
Total$32,457 $2,489 $8,049 
The following table presents non–accrual loans, loans past due over 90 days still on accrual by class of loan at December 31, 2024:
December 31, 2024
Total Non-accrualLoans Past Due Over 90 Days Still AccruingNon-accruing Loans with no Allowance for Credit Losses
Commercial
Owner occupied real estate$2,448 $— $1,419 
Non–owner occupied real estate444 — 444 
Residential spec homes— — — 
Development & spec land534 — 534 
Commercial and industrial2,232 — 1,239 
Total commercial5,658 — 3,636 
Real estate
Residential mortgage11,215 — — 
Residential construction— — — 
Total real estate11,215 — — 
Consumer
Direct installment338 128 — 
Indirect installment1,542 358 — 
Home equity7,039 680 — 
Total consumer8,919 1,166 — 
Total$25,792 $1,166 $3,636 

There was no interest income recognized on non–accrual loans during the years ended December 31, 2025 or 2024 while the loans were in non–accrual status.
The amount of accrued interest receivable written off by the Company by reversing interest income was $0.7 million for the year ended December 31, 2025. The amount was immaterial for disclosure for the year ended December 31, 2024.
The following table presents the payment status by class of loan at December 31, 2025:
December 31, 2025
Current30-59 Days
Past Due		60-89 Days
Past Due		90 Days or
Greater
Past Due		Total Past
Due		Total
Loans
Commercial
Owner occupied real estate$694,040 $2,671 $384 $2,232 $5,287 $699,327 
Non–owner occupied real estate1,668,372 490 398 — 888 1,669,260 
Residential spec homes17,741 — — — — 17,741 
Development & spec land35,039 — 496 — 496 35,535 
Commercial and industrial1,002,074 4,606 1,310 2,555 8,471 1,010,545 
Total commercial3,417,266 7,767 2,588 4,787 15,142 3,432,408 
Real estate
Residential mortgage730,784 4 3,221 7,468 10,693 741,477 
Residential construction28,916 — 2,034 — 2,034 30,950 
Total real estate759,700 4 5,255 7,468 12,727 772,427 
Consumer
Direct installment73,671 2,638 343 522 3,503 77,174 
Indirect installment16,390 2,203 478 601 3,282 19,672 
Home equity560,895 5,991 2,321 5,654 13,966 574,861 
Total consumer650,956 10,832 3,142 6,777 20,751 671,707 
Total$4,827,922 $18,603 $10,985 $19,032 $48,620 $4,876,542 
The following table presents the payment status by class of loan at December 31, 2024:
December 31, 2024
Current30-59 Days
Past Due		60-89 Days
Past Due		90 Days or
Greater
Past Due		Total Past
Due		Total
Loans
Commercial
Owner occupied real estate$665,875 $1,195 $— $95 $1,290 $667,165 
Non–owner occupied real estate1,500,229 931 — 296 1,227 $1,501,456 
Residential spec homes15,611 — — — — $15,611 
Development & spec land18,627 — — — — $18,627 
Commercial and industrial872,893 2,155 70 179 2,404 $875,297 
Total commercial3,073,235 4,281 70 570 4,921 3,078,156 
Real estate
Residential mortgage773,214 — 4,163 6,584 10,747 $783,961 
Residential construction18,948 — — — — 18,948 
Total real estate792,162 — 4,163 6,584 10,747 $802,909 
Consumer
Direct installment95,337 1,325 181 347 1,853 $97,190 
Indirect installment298,048 4,179 806 868 5,853 $303,901 
Home equity551,483 7,143 1,537 4,721 13,401 $564,884 
Total consumer944,868 12,647 2,524 5,936 21,107 965,975 
Total$4,810,265 $16,928 $6,757 $13,090 $36,775 $4,847,040 
The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date.
Modified Loans
The following tables detail the amortized cost as of December 31, 2025 and 2024, respectively, of loans that were modified to borrowers experiencing financial difficulty during the year ended:
December 31, 2025
Term ExtensionInterest Rate ReductionOther-Than-Insignificant Payment DelayTerm Extension and Interest Rate Reduction
Multiple1
Total% of Loans Held for Investment
Commercial
Owner occupied real estate$550 $— $5,242 $1,952 $— $7,744 0.16 %
Non-owner occupied real estate398 — — — — 398 0.01 %
Development spec & land496 — — — — 496 0.01 %
Commercial and industrial3,383 — 598 1,952 — 5,933 0.12 %
Total$4,827 $— $5,840 $3,904 $— $14,571 0.30 %
1 Multiple modifications represents modifications to borrowers in the form of term extensions and other-than-insignificant payment deferrals.
December 31, 2024
Term ExtensionInterest Rate ReductionOther-Than-Insignificant Payment DelayTerm Extension and Interest Rate Reduction
Multiple1
Total% of Loans Held for Investment
Commercial
Owner occupied real estate$2,038 $— $651 $2,418 $— $5,107 0.77 %
Non-owner occupied real estate— — — — — — — %
Development spec & land— — — — — — — %
Commercial and industrial3,448 — 740 236 — 4,424 0.51 %
Total$5,486 $— $1,391 $2,654 $— $9,531 0.20 %
1 Multiple modifications represents modifications to borrowers in the form of term extensions and other-than-insignificant payment deferrals.
The following tables summarize the financial impacts of loan modifications and payment deferrals, as applicable, during the year ended December 31, 2025 and 2024, respectively.
December 31, 2025
Weighted Average Term Extension (In Months)Weighted Average Interest Rate Reduction (In Percentage Terms)Weighted Average Payment Delay (In Months)Term Extension (In Months) & Rate Reduction (In Percentage Terms)
Commercial
Owner occupied real estate17— %6
Weighted average term extension of 12 months & Weighted average interest rate reduction of 1.50%
Non-owner occupied real estate12— 00
Development & spec land12— 00
Commercial and industrial17— 5
Weighted average term extension of 30 months & Weighted average interest rate reduction of 1.73%
December 31, 2024
Weighted Average Term Extension (In Months)Weighted Average Interest Rate Reduction (Int Percentage Terms)Weighted Average Payment Delay (In Months)Term Extension
(In Months) &
Rate Reduction
(In Percentage Terms)
Commercial
Owner occupied real estate6— %5
Weighted average term extension of 60 months
Weighted average interest rate reduction of 1.04%
Commercial and industrial29— 6
Weighted average term extension of 21 months
Weighted average interest rate reduction of 2.25%
The financial impacts of the modifications did not significantly impact our determination of the allowance for credit losses during the periods presented above.
The following table presents the amortized cost basis at December 31, 2025 of loans to borrowers experiencing financial difficulty that had been modified within the previous 12 months:

December 31, 2025
Current30-89 Days Past Due90 Days Past DueTotal
Commercial
Owner occupied real estate$3,711 $1,845 $2,188 $7,744 
Non-owner occupied real estate— 398 — 398
Development & spec land— $496 — 496 
Commercial and industrial5,238 253 442 5,933
Total$8,949 $2,992 $2,630 $14,571




The following table presents the amortized cost basis at December 31, 2024 of loans to borrowers experiencing financial difficulty that had been modified within the previous 12 months:
December 31, 2024
Current30-89 Days Past Due90 Days Past DueTotal
Commercial
Owner occupied real estate$5,107 $— $— $5,107 
Non-owner occupied real estate— — — — 
Commercial and industrial4,424 — — 4,424 
Total$9,531 $— $— $9,531 
During the years ended December 31, 2025 and 2024, the Company had $5.6 million and $0, respectively of loans to borrowers experiencing financial difficulty that had a payment default and were modified within the twelve months prior to the payment default. For purposes of this disclosure, the Company defines “default” as being 30 days or more past due of contractual interest or principal.
Collateral Dependent Financial Assets
A collateral dependent financial loan relies solely on the operation or sale of the collateral for repayment. In evaluating the overall risk associated with the loan, the Company considers character, overall financial condition and resources, and payment record of the borrower; the prospects for support from any financially responsible guarantors; and the nature and degree of protection provided by the cash flow and value of any underlying collateral. However, as other sources of repayment become inadequate over time, the significance of the collateral's value increases and the loan may become collateral dependent.
The tables below present the amortized cost basis and allowance for credit losses (“ACL”) allocated for collateral dependent loans in accordance with ASC 326, which are individually evaluated to determine expected credit losses, at December 31, 2025 and 2024.
December 31, 2025
Real EstateAccounts
Receivable/
Equipment		OtherTotalACL
Allocation
Commercial
Owner occupied real estate$5,395 $— $— $5,395 $114 
Non–owner occupied real estate3,026 — — 3,026 20 
Residential spec homes— — — — — 
Development & spec land496 — — 496 — 
Commercial and industrial1,690 3,269 673 5,632 882 
Total commercial10,607 3,269 673 14,549 1,016 
Real Estate
Residential Mortgage929 — — 929 — 
Total Real Estate929 — — 929 — 
Consumer
Home equity923 — — 923 313 
Total consumer923 — — 923 313 
Total collateral dependent loans$12,459 $3,269 $673 $16,401 $1,329 
December 31, 2024
Real EstateAccounts
Receivable/
Equipment		OtherTotalACL
Allocation
Commercial
Owner occupied real estate$2,448 $— $— $2,448 $224 
Non–owner occupied real estate444 — — 444 — 
Residential spec homes— — — — — 
Development & spec land534 — — 534 — 
Commercial and industrial1,756 476 — 2,232 731 
Total commercial5,182 476 — 5,658 955 
Total collateral dependent loans$5,182 $476 $— $5,658 $955 
As of December 31, 2025, the Company had a carrying value of $1.7 million of repossessed assets. As of December 31, 2025, the Company had a recorded net investment of $0.9 million of consumer mortgage loans in which foreclosure proceedings have commenced. Repossessed assets are a component of other assets within the consolidated balance sheet.

Credit Quality Indicators
Horizon Bank’s processes for determining credit quality differ slightly depending on whether a new loan or a renewed loan is being underwritten, or whether an existing loan is being re–evaluated for credit quality. The latter usually occurs upon receipt of current financial information or other pertinent data that would trigger a change in the credit quality grade.
•    For new and renewed commercial loans, the Bank’s Credit Department, which acts independently of the loan officer, assigns the credit quality grade to the loan. Loan grades for loans with an aggregate credit exposure that exceeds the authorities in the respective regions (ranging from $3,000,000 to $6,000,000) are validated by the Loan Committee, which is chaired by the Chief Commercial Banking Officer (“CCBO”).
•    Commercial loan officers are responsible for reviewing their loan portfolios and promptly assessing any adverse change in credit quality and revising the risk rating appropriately. When circumstances warrant a change in the credit quality grade, loan officers are required to notify the Credit Department of the change in the credit quality grade. Downgrades are accepted immediately, however, lenders must present their factual information to the Credit Department when recommending an upgrade. Downgrades to impaired status require the concurrence of the CCBO and the Senior Workout Loan Manager.
•    The CCBO, or a designee, meets periodically with loan officers to discuss the status of past due loans and classified loans. These meetings are also designed to give the loan officers an opportunity to identify an existing loan that should be downgraded to a classified grade.
•    Monthly, senior management meets as members of the Watch Committee, which reviews all of the past due, classified, and impaired loans and the relative trends of these assets. This committee also reviews the actions taken by management regarding foreclosure mitigation, loan extensions, loan modifications, other real estate owned and personal property repossessions. The information reviewed in this meeting acts as a precursor for developing management’s analysis of the adequacy of the Allowance for Credit Losses on Loans and Leases.
For residential real estate and consumer loans, Horizon uses a grading system based on delinquency. Loans that are 90 days or more past due, on non–accrual, or are classified as modified loans are graded “Substandard.” After being 90 to 120 days delinquent a loan is charged off unless it is well secured and in the process of collection. If the latter case exists, the loan is placed on non–accrual. Occasionally a mortgage loan may be graded as “Special Mention.” When this situation arises, it is because the characteristics of the loan and the borrower fit the definition of a Risk Grade 5 described below, which is normally used for grading commercial loans. Loans not graded Substandard are considered Pass.
Horizon Bank employs a nine–grade rating system to determine the credit quality of commercial loans. The first five grades represent acceptable quality, and the last four grades mirror the criticized and classified grades used by the bank regulatory agencies (special mention, substandard, doubtful, and loss). The loan grade definitions are detailed below.
Risk Grade 1: Excellent (Pass)
Loans secured by liquid collateral, such as certificates of deposit, reputable bank letters of credit, or other cash equivalents or loans to any publicly held company with a current long–term debt rating of A or better and meeting defined key financial metric ranges.
Risk Grade 2: Good (Pass)
Loans to businesses that have strong financial statements containing an unqualified opinion from a CPA firm and at least three years consecutive years of profits; loans supported by unaudited financial statements containing strong balance sheets, five years consecutive years of profits, a five year satisfactory relationship with the Bank, and key balance sheet and income statement trends that are either stable or positive; loans secured by publicly traded marketable securities with required margins where there is no impediment to liquidation; loans to individuals backed by liquid personal assets and unblemished credit histories; or loans to publicly held companies with current long–term debt ratings of Baa or better and meeting defined key financial metric ranges.
Risk Grade 3: Satisfactory (Pass)
Loans supported by financial statements (audited or unaudited) that indicate average or slightly below average risk and having some deficiency or vulnerability to changing economic conditions; loans with some weakness but offsetting features of other support are readily available; loans that are meeting the terms of repayment, but which may be susceptible to deterioration if adverse factors are encountered and meeting defined key financial metric ranges. Loans may be graded Satisfactory when there is no recent information on which to base a current risk evaluation and the following conditions apply:
•    At inception, the loan was properly underwritten, did not possess an unwarranted level of credit risk, and the loan met the above criteria for a risk grade of Excellent, Good, or Satisfactory;
•    At inception, the loan was secured with collateral possessing a loan value adequate to protect the Bank from loss.
•    The loan has exhibited two or more years of satisfactory repayment with a reasonable reduction of the principal balance.
•    During the period that the loan has been outstanding, there has been no evidence of any credit weakness. Some examples of weakness include slow payment, lack of cooperation by the borrower, breach of loan covenants, or the borrower is in an industry known to be experiencing problems. If any of these credit weaknesses is observed, a lower risk grade may be warranted.

Risk Grade 4: Satisfactory/Monitored
Loans in this category are considered to be of acceptable credit quality, but contain greater credit risk than Satisfactory rated loans and meet defined key financial metric ranges. Borrower displays acceptable liquidity, leverage, and earnings performance within the Bank’s minimum underwriting guidelines. The level of risk is acceptable but conditioned on the proper level of loan officer supervision. Loans that normally fall into this grade include acquisition, construction and development loans and income producing properties that have not reached stabilization.
Risk Grade 4W: Management Watch
Loans in this category are considered to be of acceptable quality and meet defined key financial metric ranges, but with above normal risk. Borrower displays potential indicators of weakness in the primary source of repayment resulting in a higher reliance on secondary sources of repayment. Balance sheet may exhibit weak liquidity and/or high leverage. There is inconsistent earnings performance without the ability to sustain adverse economic conditions. Borrower may be operating in a declining industry or the property type, as for a commercial real estate loan, may be high risk or in decline. These loans require an increased level of loan officer supervision and monitoring to assure that any deterioration is addressed in a timely fashion. Commercial construction loans are graded as 4W Management Watch until the projects are completed and stabilized.
Risk Grade 5: Special Mention
Loans which possess some temporary (normally less than one year) credit deficiency or potential weakness which deserves close attention. Such loans pose an unwarranted financial risk that, if not corrected, could weaken the loan by adversely impacting the future repayment ability of the borrower. The key distinctions of a Special Mention classification are that (1) it is indicative of an unwarranted level of risk and (2) weaknesses are considered “potential,” not “defined,” impairments to the primary source of repayment. These loans may be to borrowers with adverse trends in financial performance, collateral value and/or marketability, or balance sheet strength and must meet defined key financial metric ranges.
Risk Grade 6: Substandard
One or more of the following characteristics may be exhibited in loans classified Substandard:
•    Loans which possess a defined credit weakness. The likelihood that a loan will be paid from the primary source of repayment is uncertain. Financial deterioration is under way and very close attention is warranted to ensure that the loan is collected without loss.
•    Loans are inadequately protected by the current net worth and paying capacity of the obligor.
•    The primary source of repayment is gone, and the Bank is forced to rely on a secondary source of repayment, such as collateral liquidation or guarantees.
•    Loans have a distinct possibility that the Bank will sustain some loss if deficiencies are not corrected.
•    Unusual courses of action are needed to maintain a high probability of repayment.
•    The borrower is not generating enough cash flow to repay loan principal; however, it continues to make interest payments.
•    The lender is forced into a subordinated or unsecured position due to flaws in documentation.
•    Loans have been restructured so that payment schedules, terms, and collateral represent concessions to the borrower when compared to the normal loan terms.
•    The lender is seriously contemplating foreclosure or legal action due to the apparent deterioration in the loan.
•    There is a significant deterioration in market conditions to which the borrower is highly vulnerable.
•    The borrower meets defined key financial metric ranges.
Risk Grade 7: Doubtful
One or more of the following characteristics may be present in loans classified Doubtful:
•    Loans have all of the weaknesses of those classified as Substandard. However, based on existing conditions, these weaknesses make full collection of principal highly improbable.
•    The primary source of repayment is gone, and there is considerable doubt as to the quality of the secondary source of repayment.
•    The possibility of loss is high but because of certain important pending factors which may strengthen the loan, loss classification is deferred until the exact status of repayment is known.
•    The borrower meets defined key financial metric ranges.
Risk Grade 8: Loss
Loans are considered uncollectible and of such little value that continuing to carry them as assets is not feasible. Loans will be classified Loss when it is neither practical nor desirable to defer writing off or reserving all or a portion of a basically worthless asset, even though partial recovery may be possible at some time in the future.
The Company defines term loans as those having a fixed duration, repayment schedule and defined interest rate. Revolving loans include loans with revolving privileges and certain complex lending arrangements involving commitments made by the Company under predefined terms or loans with interchangeable interest rate and repayment options that extend beyond the time of origination. Revolving term loans include loans with revolving privileges and certain complex lending arrangements involving commitments made by the Company under predefined terms, including loans with both revolving and non-revolving components and loans with delayed draw down features.
The following tables present loans by credit grades and origination year at December 31, 2025.
Term Loans by Origination Year
December 31, 202520252024202320222021PriorRevolving Term LoansRevolving
Loans		Total
Commercial
Owner occupied real estate
Pass$103,721 $90,288 $83,508 $75,503 $61,816 $167,595 $69,454 $14,592 $666,477 
Special Mention900 5,013 — — 1,375 6,258 2,343 — 15,889 
Substandard— 3,706 9,421 1,674 — 2,110 — 50 16,961 
Doubtful— — — — — — — — — 
Total owner occupied real estate$104,621 $99,007 $92,929 $77,177 $63,191 $175,963 $71,797 $14,642 $699,327 
Gross charge-offs during period$316 $502 $— $50 $— $49 $36 $— $953 
Non–owner occupied real estate
Pass$195,568 $192,570 $152,602 $230,638 $133,516 $400,187 $306,632 $14,609 $1,626,322 
Special Mention490 — 1,304 28,267 — 5,771 — — 35,832 
Substandard— 2,163 3,686 609 — 580 68 — 7,106 
Doubtful— — — — — — — — — 
Total non–owner occupied real estate$196,058 $194,733 $157,592 $259,514 $133,516 $406,538 $306,700 $14,609 $1,669,260 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Residential spec homes
Pass$4,896 $294 $— $— $— $— $5,329 $7,222 $17,741 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total residential spec homes$4,896 $294 $— $— $— $— $5,329 $7,222 $17,741 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Development & spec land
Pass$3,892 $816 $3,096 $746 $1,021 $1,813 $22,669 $986 $35,039 
Special Mention— — — — — — — — — 
Substandard— — — — — — 496 — 496 
Doubtful— — — — — — — — — 
Total development & spec land$3,892 $816 $3,096 $746 $1,021 $1,813 $23,165 $986 $35,535 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Commercial and industrial
Pass$273,848 $193,508 $74,420 $102,213 $53,264 $52,660 $48,648 $172,692 $971,253 
Special Mention1,229 690 781 547 33 300 10,386 10,921 24,887 
Substandard2,027 2,073 6,490 82 32 1,578 1,001 1,122 14,405 
Doubtful— — — — — — — — — 
Total commercial and industrial$277,104 $196,271 $81,691 $102,842 $53,329 $54,538 $60,035 $184,735 $1,010,545 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Term Loans by Origination Year
December 31, 202520252024202320222021PriorRevolving Term LoansRevolving
Loans		Total
Real estate
Residential mortgage
Performing$58,110 $76,445 $104,783 $143,616 $126,636 $221,710 $— $— $731,300 
Non–performing— 505 2,428 2,236 453 4,555 — — 10,177 
Total residential mortgage$58,110 $76,950 $107,211 $145,852 $127,089 $226,265 $— $— $741,477 
Gross charge-offs during period$— $135 $223 $188 $355 $161 $— $— $1,062 
Residential construction
Performing$— $2,034 $— $— $— $— $28,916 $— $30,950 
Non–performing— — — — — — — — — 
Total residential construction$— $2,034 $— $— $— $— $28,916 $— $30,950 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Term Loans by Origination Year
December 31, 202520252024202320222021PriorRevolving Term LoansRevolving
Loans		Total
Consumer
Direct installment
Performing$8,330 $6,354 $47,094 $5,160 $3,160 $4,942 $84 $1,335 $76,459 
Non–performing— — 578 69 40 28 — — 715 
Total direct installment$8,330 $6,354 $47,672 $5,229 $3,200 $4,970 $84 $1,335 $77,174 
Gross charge-offs during period$11 $141 $85 $73 $84 $5 $8 $— $407 
Indirect installment
Performing$— $220 $3,584 $9,469 $3,269 $1,902 $— $— $18,444 
Non–performing— 29 275 570 232 122 — — 1,228 
Total indirect installment$— $249 $3,859 $10,039 $3,501 $2,024 $— $— $19,672 
Gross charge-offs during period$— $245 $885 $1,414 $477 $237 $— $— $3,258 
Home equity
Performing$12,301 $10,393 $16,623 $12,032 $4,444 $7,546 $32,721 $470,524 $566,584 
Non–performing— 236 614 653 53 173 6,548 — 8,277 
Total home equity$12,301 $10,629 $17,237 $12,685 $4,497 $7,719 $39,269 $470,524 $574,861 
Gross charge-offs during period$— $— $20 $7 $— $57 $843 $— $927 
The following table presents loans by credit grades and origination year at December 31, 2024.
Term Loans by Origination year
December 31, 202420242023202220212020PriorRevolving Term LoansRevolving
Loans		Total
Commercial
Owner occupied real estate
Pass$75,649 $74,305 $90,872 $68,978 $36,778 $178,936 $92,227 $12,365 $630,110 
Special Mention129 — 1,724 1,769 142 8,759 — 100 12,623 
Substandard2,970 8,761 1,051 6,307 — 4,843 — 500 24,432 
Doubtful— — — — — — — — — 
Total owner occupied real estate$78,748 $83,066 $93,647 $77,054 $36,920 $192,538 $92,227 $12,965 $667,165 
Gross charge-offs during period$— $— $— $— $— $1 $— $— $1 
Non–owner occupied real estate
Pass$194,167 $115,378 $244,266 $133,689 $100,688 $344,558 $298,288 $11,726 $1,442,760 
Special Mention— 4,211 16,409 1,249 — 31,083 — — 52,952 
Substandard83 297 — — — 5,364 — — 5,744 
Doubtful— — — — — — — — — 
Total non–owner occupied real estate$194,250 $119,886 $260,675 $134,938 $100,688 $381,005 $298,288 $11,726 $1,501,456 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Residential spec homes
Pass$362 $— $— $420 $— $— $10,986 $3,843 $15,611 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total residential spec homes$362 $— $— $420 $— $— $10,986 $3,843 $15,611 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Development & spec land
Pass$819 $4,139 $788 $1,133 $328 $2,039 $7,931 $599 $17,776 
Special Mention— — — — — 317 — — 317 
Substandard— — — — — — 534 — 534 
Doubtful— — — — — — — — — 
Total development & spec land$819 $4,139 $788 $1,133 $328 $2,356 $8,465 $599 $18,627 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Commercial and industrial
Pass$242,562 $105,877 $128,707 $73,008 $6,954 $54,764 $48,313 $179,370 $839,555 
Special Mention1,246 324 1,245 28 1 1,573 9,519 9,281 23,217 
Substandard843 2,599 318 217 266 3,170 1,003 4,109 12,525 
Doubtful— — — — — — — — — 
Total commercial and industrial$244,651 $108,800 $130,270 $73,253 $7,221 $59,507 $58,835 $192,760 $875,297 
Gross charge-offs during period$— $— $— $— $— $45 $108 $— $153 
Term Loans by Origination Year
December 31, 202420242023202220212020PriorRevolving Term LoansRevolving
Loans		Total
Real estate
Residential mortgage
Performing$69,264 $145,927 $160,780 $140,310 $78,563 $177,902 $— $— $772,746 
Non–performing201 1,619 2,125 1,472 706 5,092 — — 11,215 
Total residential mortgage$69,465 $147,546 $162,905 $141,782 $79,269 $182,994 $— $— $783,961 
Gross charge-offs during period$— $— $— $— $— $5 $— $— $5 
Residential construction
Performing$— $— $— $— $— $— $18,948 $— $18,948 
Non–performing— — — — — — — — — 
Total residential construction$— $— $— $— $— $— $18,948 $— $18,948 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Term Loans by Origination Year
December 31, 202420242023202220212020PriorRevolving Term LoansRevolving
Loans		Total
Consumer
Direct installment
Performing$11,306 $59,850 $9,510 $5,398 $2,679 $6,003 $60 $1,918 $96,724 
Non–performing1 374 46 19 — 26 — — 466 
Total direct installment$11,307 $60,224 $9,556 $5,417 $2,679 $6,029 $60 $1,918 $97,190 
Gross charge-offs during period$72 $93 $169 $1 $35 $78 $9 $— $457 
Indirect installment
Performing$26,839 $70,143 $130,610 $49,458 $17,647 $7,304 $— $— $302,001 
Non–performing— 425 800 304 242 129 — — 1,900 
Total indirect installment$26,839 $70,568 $131,410 $49,762 $17,889 $7,433 $— $— $303,901 
Gross charge-offs during period$161 $449 $1,345 $527 $188 $99 $— $— $2,769 
Home equity
Performing$13,552 $21,845 $16,136 $5,110 $1,902 $9,210 $18,657 $470,753 $557,165 
Non–performing— 421 426 — 30 296 6,465 81 7,719 
Total home equity$13,552 $22,266 $16,562 $5,110 $1,932 $9,506 $25,122 $470,834 $564,884 
Gross charge-offs during period$— $23 $52 $88 $— $39 $110 $11 $323 
v3.25.4
Allowance for Credit and Loan Losses
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Allowance for Credit and Loan Losses Allowance for Credit and Loan Losses
The following table represents, by loan portfolio segment, a summary of changes in the ACL on loans for the twelve months ended December 31, 2025, 2024 and 2023.

Twelve Months Ended December 31, 2025
CommercialReal EstateMortgage WarehouseConsumerTotal
Balance, beginning of period$30,953 $2,715 $— $18,312 $51,980 
Credit loss expense (recovery)5,286 468 — (3,511)2,243 
Charge-offs(953)(1,062)— (4,592)(6,607)
Recoveries187 1,062 — 2,434 3,683 
Balance, end of period$35,473 $3,183 $— $12,643 $51,299 

Twelve Months Ended December 31, 2024
CommercialReal EstateMortgage WarehouseConsumerTotal
Balance, beginning of period$29,736 $2,503 $481 $17,309 $50,029 
Provision for credit losses on loans1,018 184 (481)3,133 3,854 
Charge-offs(154)(5)— (3,549)(3,708)
Recoveries353 33 — 1,419 1,805 
Balance, end of period$30,953 $2,715 $— $18,312 $51,980 

Twelve Months Ended December 31, 2023
CommercialReal EstateMortgage WarehouseConsumerTotal
Balance, beginning of period$32,445 $5,577 $1,020 $11,422 $50,464 
Provision for credit losses on loans(1,765)(3,107)(539)7,501 2,090 
Charge-offs(1,403)(48)— (2,835)(4,286)
Recoveries459 81 — 1,221 1,761 
Balance, end of period$29,736 $2,503 $481 $17,309 $50,029 

The accrued interest receivable on our loan receivables is excluded from the allowance for credit loss estimate and is included in interest receivable on our consolidated balance sheets. As of December 31, 2025, December 31, 2024 and December 31, 2023, the accrued interest on our loan portfolio was $23.7 million, $25.6 million and $23.7 million, respectively.
The Company utilized the Cumulative Loss Rate method in determining expected future credit losses. The loss rate method measures the amount of loan charge–offs, net of recoveries, (“loan losses”) recognized over the life of a closed pool and compares those loan losses to the outstanding loan balance of that pool as of a specific point in time (“pool date”).
To estimate a CECL loss rate for the pool, management first identifies the loan losses recognized between the pool date and the reporting date for the pool and determines which loan losses were related to loans outstanding at the pool date. The loss rate method then divides the loan losses recognized on loans outstanding as of the pool date by the outstanding loan balance as of the pool date.
The Company’s expected loss estimate is anchored in historical credit loss experience, with an emphasis on all available portfolio data. The Company’s historical look–back period includes January 2009 through the current period, on a monthly basis. When historical credit loss experience is not sufficient for a specific portfolio, the Company may supplement its own portfolio data with external models or data. The Company supplemented data for 2009 and 2010 with the use of adjusted Uniform Bank Performance Report peer group data.
Qualitative reserves reflect management’s overall estimate of the extent to which current expected credit losses on collectively evaluated loans will differ from historical loss experience. The analysis takes into consideration other analytics performed within the organization, such as enterprise and concentration management, along with other credit–related analytics as deemed appropriate. Management attempts to quantify qualitative reserves whenever possible.
The Company’s CECL estimate applies to a forecast that incorporates macroeconomic trends and other environmental factors. Management utilized Moody's economic forecast scenarios including both National and Regional econometrics, as well as management judgment, as the basis for the forecast period. The historical loss rate was utilized as the base rate, and qualitative adjustments were utilized to reflect the forecast and other relevant factors.
The Company segments the loan portfolio into pools based on the following risk characteristics: financial asset type, loan purpose, collateral type, loan characteristics, credit characteristics, outstanding loan balances, contractual terms and prepayment assumptions, industry of the borrower and concentrations, and historical or expected credit loss patterns.

Liability for Commitments to Extend Credit and Standby Letters of Credit
The following tables represent, by loan portfolio segment, a summary of changes in the activity in the liability for commitments to extend credit and standby letters of credit (See Note 18):
December 31, 2025
December 31, 2024
December 31, 2023
Balance, beginning of periodCredit loss expense (reversal)Ending balanceBalance, beginning of periodCredit loss expense (reversal)Ending balanceBalance, beginning of periodCredit loss expense (reversal)Ending balance
Commercial$1,385 $(317)$1,068 $— $1,385 $1,385 $— $— $— 
Real Estate61 31 92 64 (3)61 161 (97)64 
Mortgage Warehouse— — — — — — — — — 
Consumer703 (23)680 551 152 703 242 309 551 
Total$2,149 $(309)$1,840 $615 $1,534 $2,149 $403 $212 $615 
v3.25.4
Premises and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Premises and Equipment Premises and Equipment
December 31
2025		December 31
2024
Land$31,106 $31,310 
Buildings and improvements93,806 91,911 
Furniture and equipment43,825 40,655 
Total cost168,737 163,876 
Accumulated depreciation(75,932)(70,012)
Net premises and equipment$92,805 $93,864 
Depreciation of premises and equipment included in net occupancy expense for the years ended December 31, 2025, 2024 and 2023 was approximately $6.0 million, $5.8 million, and $5.9 million, respectively.
v3.25.4
Loan Servicing
 12 Months Ended
Dec. 31, 2025
Payments for (Proceeds from) Mortgage Servicing Rights [Abstract]  
Loan Servicing Loan Servicing
Loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of loans serviced for others totaled approximately $1.412 billion and $1.438 billion at December 31, 2025 and 2024.
Activity for mortgage servicing rights and the related impairment allowance were as follows:


December 31
2025		December 31
2024		December 31
2023
Mortgage servicing rights
Balances, January 1$18,195 $18,807 $18,619 
Servicing rights capitalized1,434 1,359 1,220 
Amortization of servicing rights(2,095)(1,971)(1,032)
Balances, December 3117,534 18,195 18,807 
Impairment allowance
Beginning balance— — — 
Additions— — — 
Reductions— — — 
Balances, December 31— — — 
Mortgage servicing rights, net$17,534 $18,195 $18,807 
Fair value, beginning of period$19,766 $19,891 $19,992 
Fair value, end of period$17,547 $19,766 $19,891 
Fair value at December 31, 2025 was determined using a discounted cash flow analysis with the discount rates ranging from 8.5% to 11.0% and prepayment speeds ranging from 6.4% to 12.0%, depending on the stratification of the specific right. Fair value at December 31, 2024 was determined using a discounted cash flow analysis with a discount rates ranging from 9.0% to 11.5% and prepayment speeds ranging from 5.6% to 13.3%, depending on the stratification of the specific right.
v3.25.4
Goodwill
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
The carrying amount of goodwill was $155.2 million as of December 31, 2025 and December 31, 2024, respectively. There were no changes in the carrying amount of goodwill for the year ended December 31, 2025 and 2024. Goodwill is assessed for impairment annually, or more frequently if events occur or circumstances change that indicate an impairment may exist. When assessing goodwill for impairment, first, a qualitative assessment can be made to determine whether it is more likely than not that the estimated fair value of a reporting unit is less than its estimated carrying value. If the results of the qualitative assessment are not conclusive, a quantitative goodwill test is performed. Alternatively, a quantitative goodwill test can be performed without performing a qualitative assessment.

No goodwill impairment charges were recorded for the year ended December 31, 2025 and 2024. As of December 31, 2025, Horizon elected to perform a qualitative assessment to determine if it was more likely than not that the fair value exceeded its carrying value. The qualitative assessment indicated that it was more likely than not that the fair value exceeded its carrying value, resulting in no impairment.

As a result of acquisitions, the Company has recorded certain amortizable intangible assets related to core deposit intangibles. These core deposit intangibles are being amortized over 7 years to 10 years using an accelerated method and had a weighted average remaining life of 3.34 years and 4.14 years as of December 31, 2025 and December 31, 2024. Amortizable intangible assets are summarized as follows:
December 31, 2025December 31, 2024
Gross Carrying
Amount		Accumulated
Amortization		Gross Carrying
Amount		Accumulated
Amortization
Amortizable intangible assets
Core deposit intangible$33,633 $(26,453)$33,633 $(23,410)

Amortization expense for intangible assets totaled $3.0 million, $3.4 million and $3.6 million for the years ended December 31, 2025, 2024 and 2023. Estimated amortization for the years ending December 31 is as follows:

YearAmount
2026$2,566 
20272,119 
20281,754 
2029512 
2030136 
Thereafter92 
$7,179 
v3.25.4
Deposits
 12 Months Ended
Dec. 31, 2025
Statistical Disclosure for Banks [Abstract]  
Deposits Deposits
December 31
2025		December 31
2024
Non interest-bearing demand deposits$1,078,708 $1,064,818 
Interest-bearing deposits:
Interest-bearing demand deposits1,639,857 1,767,984 
Money market 831,631 960,008 
Savings deposits622,743 718,689 
Certificates of deposit of $250,000 or more562,638 549,361 
Certificates of deposit of less than $250,000539,840 539,792 
Total interest-bearing deposits$4,196,709 $4,535,834 
Total deposits$5,275,417 $5,600,652 
There were no overdraft customer transaction deposits reclassified as loan balances at December 31, 2025 and December 31, 2024.
The aggregate amount of certificate of deposits (CD) and other time deposits (TD) in denominations of $100,000 or more at December 31, 2025 and 2024 were $807.0 million and $775.7 million, respectively.
Certificates and other time deposits for both retail and brokered maturing in years ending December 31 are as follows:
RetailBrokeredTotal
2026$820,434 $90,033 $910,467 
202712,216 65,000 77,216 
20284,306 80,000 84,306 
20293,794 — 3,794 
20301,695 25,000 26,695 
Thereafter— — — 
$842,445 $260,033 $1,102,478 
Deposits received in the ordinary course of business from the directors and officers of the Company and their related interests amounted to $1.1 million and $1.3 million for the years ended December 31, 2025 and 2024, respectively.
v3.25.4
Repurchase Agreements
 12 Months Ended
Dec. 31, 2025
Disclosure of Repurchase Agreements [Abstract]  
Repurchase Agreements Repurchase Agreements
The Company transfers various securities to customers in exchange for cash at the end of each business day and agrees to acquire the securities at the end of the next business day for the cash exchanged plus interest. The process is repeated at the end of each business day until the agreement is terminated. The securities underlying the agreement remained under the Company’s control.
The following tables show repurchase agreements accounted for as secured borrowings and the related securities, at fair value, pledged for repurchase agreements:

December 31, 2025
Remaining Contractual Maturity of the Agreements
Overnight
and
Continuous		Up to 30 Days30-90 DaysGreater Than 90 DaysTotal
Repurchase Agreements and repurchase-to-maturity transactions
U.S. government agency mortgage-backed securities$88,468 $— $— $— $88,468 
Total Repurchase Agreements$88,468 $— $— $— $88,468 
Repurchase Agreements subject to offsetting arrangements$— 
December 31, 2024
Remaining Contractual Maturity of the Agreements
Overnight
and
Continuous		Up to 30 Days30-90 DaysGreater Than 90 DaysTotal
Repurchase Agreements and repurchase-to-maturity transactions
U.S. Treasury federal agencies$34,191 $— $— $— $34,191 
U.S. government agency mortgage-backed securities$55,721 $— $— $— $55,721 
Total Repurchase Agreements$89,912 $— $— $— $89,912 
Repurchase Agreements subject to offsetting arrangements— 
Securities sold under agreements to repurchase are secured by securities with a carrying amount of $90.7 million and $96.8 million at December 31, 2025 and December 31, 2024, respectively.
v3.25.4
Subordinated Notes
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Subordinated Notes Subordinated Notes
On August 29, 2025, Horizon completed the offering and sale of $100.0 million in aggregate principal amount of its 7.000% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “2035 Notes”). The 2035 Notes were issued by Horizon at a price equal to 100% of their face amount. Horizon used the net proceeds from the offering for general corporate purposes, including in support of the repositioning of its balance sheet, and to redeem approximately $56.5 million in aggregate principal amount of its 5.625% fixed-to-floating rate subordinated notes due 2030 (the "2030 Notes," and collectively with the 2035 Note, the "Notes"), which was completed on October 1, 2025. The 2035 Notes will bear interest at a fixed interest rate of 7.000% per annum until September 15, 2030, after which time the interest rate will reset quarterly to a floating rate equal to a benchmark rate, which is expected to be the then current three-month term Secured Overnight Financing Rate (SOFR) plus 360 basis points until the 2035 Notes' maturity on September 15, 2035. The 2035 Notes are redeemable by Horizon, in whole or in part, on any interest payment date on or after September 15, 2030, and at any time upon the occurrence of certain events, subject to the receipt of the approval of the Board of Governors of the Federal Reserve System to the extent then required under applicable laws or regulations, including capital regulations. The 2035 Notes are intended to qualify as Tier 2 capital of the
Company for regulatory capital purposes.

On December 8, 2023, Horizon cancelled $3.5 million of the $60.0 million in 2030 Notes at a price of 89.5 recording a gain of 0.4 million. The balance of the Notes, net of unamortized issuance costs, was $98.2 million and $55.7 million at December 31, 2025 and December 31, 2024, respectively. Unamortized debt issuance costs recorded were $1.8 million and $0.8 million at December 31, 2025 and December 31, 2024, respectively.
v3.25.4
Junior Subordinated Debentures Issued to Capital Trusts
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Junior Subordinated Debentures Issued to Capital Trusts Junior Subordinated Debentures Issued to Capital Trusts
In October of 2004, Horizon formed Horizon Statutory Trust II (“Trust II”), a wholly owned statutory business trust. Trust II sold $10.0 million of Trust Preferred Capital Securities as a participant in a pooled trust preferred securities offering. The proceeds from the sale of the trust preferred securities were used by the trust to purchase an equivalent amount of subordinated debentures from Horizon. The junior subordinated debentures are the sole assets of Trust II and are fully and unconditionally guaranteed by Horizon. The junior subordinated debentures and the trust preferred securities pay interest and dividends on a quarterly basis. The junior subordinated debentures and the securities bear interest at a rate of 3 Month CME Term SOFR plus 2.21% (6.09% at December 31, 2025) and mature on November 23, 2034, and securities may be called at any quarterly interest payment date at par.
In December of 2006, Horizon formed Horizon Bancorp Capital Trust III (“Trust III”), a wholly owned statutory business trust. Trust III sold $12.0 million of Trust Preferred Capital Securities as a participant in a pooled trust preferred securities offering. The proceeds from the sale of the trust preferred securities were used by the trust to purchase an equivalent amount of subordinated debentures from Horizon. The junior subordinated debentures are the sole assets of Trust III and are fully and unconditionally guaranteed by Horizon. The junior subordinated debentures and the trust preferred securities pay interest and dividends on a quarterly basis. The junior subordinated debentures and the securities bear interest at a rate of 3 Month CME Term SOFR plus 1.91% (5.75% at December 31, 2025) and mature on January 30, 2037, and securities may be called at any quarterly interest payment date at par.
The Company assumed additional debentures as the result of the acquisition of Alliance Bank Corporation in 2005. In June 2004, Alliance formed Alliance Financial Statutory Trust I a wholly owned business trust (“Alliance Trust”), to sell $5.0 million in trust preferred securities. The proceeds from the sale of the trust preferred securities were used by the trust to purchase an equivalent amount of subordinated debentures from Alliance. The junior subordinated debentures are the sole assets of Alliance Trust and are fully and unconditionally guaranteed by Horizon. The junior subordinated debentures and the trust preferred securities pay interest and dividends on a quarterly basis. The junior subordinated debentures and the securities bear interest at a rate of 3 Month CME Term SOFR plus 2.91% (6.62% at December 31, 2025) and mature in June 2034, and securities may be called at any quarterly interest payment date at par.
The Company assumed additional debentures as the result of the American Trust & Savings Bank purchase and assumption in 2010. In March 2004, Am Tru Inc., the holding company for American Trust & Savings Bank, formed Am Tru Statutory Trust I a wholly owned business trust (“Am Tru Trust”), to sell $3.5 million in trust preferred securities. The proceeds from the sale of the trust preferred securities were used by the trust to purchase an equivalent amount of subordinated debentures from Am Tru Inc. The junior subordinated debentures are the sole assets of Am Tru Trust and are fully and unconditionally guaranteed by Horizon. The junior subordinated debentures and the trust preferred securities pay interest and dividends on a quarterly basis. The junior subordinated debentures and the securities bear interest at a rate of 3 Month CME Term SOFR plus 2.85% (6.82% at December 31, 2025) and mature in December 2033, and securities may be called at any quarterly interest payment date at par.
The Company assumed additional debentures as the result of the Heartland merger in July 2012. In December 2006, Heartland formed Heartland (IN) Statutory Trust II a wholly owned business trust (“Heartland Trust”), to sell $3.0 million in trust preferred securities. The proceeds from the sale of the trust preferred securities were used by the trust to purchase an equivalent amount of subordinated debentures from Heartland. The junior subordinated debentures are the sole assets of Heartland Trust and are fully and unconditionally guaranteed by Horizon. The junior subordinated debentures and the trust preferred securities pay interest and dividends on a quarterly basis. The junior subordinated debentures and the securities bear interest at a rate of 3 Month CME Term SOFR plus
1.93% (5.65% at December 31, 2025) and mature in December 2036, and securities may be called at any quarterly interest payment date at par. The carrying value was $2.3 million, net of the remaining purchase discount, at December 31, 2025.
The Company assumed additional debentures as the result of the LaPorte merger in July 2016. In October 2007, LaPorte assumed debentures as the result of its acquisition of City Savings Financial Corporation (“City Savings”). In June 2003, City Savings formed City Savings Statutory Trust I a wholly owned business trust (“City Savings Trust”), to sell $5.0 million in trust preferred securities. The proceeds from the sale of the trust preferred securities were used by the trust to purchase an equivalent amount of subordinated debentures from City Savings. The junior subordinated debentures are the sole assets of City Savings Trust and are fully and unconditionally guaranteed by Horizon. The junior subordinated debentures and the trust preferred securities pay interest and dividends on a quarterly basis. The junior subordinated debentures and the securities bear interest at a rate of 3 Month CME Term SOFR plus 3.10% (7.05% at December 31, 2025) and mature in June 2033, and securities may be called at any quarterly interest payment date at par. The carrying value was $4.6 million, net of the remaining purchase discount, at December 31, 2025.
The Company assumed additional debentures as the result of the Salin merger in March 2019. In October 2003, Salin Bancshares, Inc. (“Salin”) formed Salin Statutory Trust I (“Salin Trust”), to sell $19.0 million in trust preferred securities. The proceeds from the sale of the trust preferred securities were used by the trust to purchase an equivalent amount of subordinated debentures from Salin. The junior subordinated debentures are the sole assets of Salin Trust and are fully and unconditionally guaranteed by Horizon. The junior subordinated debentures and the securities bear interest at a rate of 3 Month CME Term SOFR plus 2.95% (6.88% at December 31, 2025) and mature in October 2033, and securities may be called at any quarterly interest payment date at par. The carrying value was $18.5 million, net of the remaining purchase discount, at December 31, 2025.
The Trust Preferred Capital Securities, subject to certain limitations, are included in Tier 1 Capital for regulatory purposes. Dividends on the Trust Preferred Capital Securities are recorded as interest expense.
v3.25.4
Borrowings
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Borrowings Borrowings
December 31
2025		December 31
2024
Federal Home Loan Bank advances, variable and fixed rates ranging from 2.63% to 3.78%, due at various dates through April 7, 2027
$150,075 $1,130,148 
Securities sold under agreements to repurchase, fixed rates ranging from 0.01% to 3.33%, due overnight and continuous
88,468 89,912 
Federal funds purchased169 — 
Secured borrowings, fixed rates ranging from 3.75% to 9.00%, due at various dates through March 28, 2043
9,874 12,192 
Total borrowings$248,586 $1,232,252 
The weighted average interest rate for FHLB advances was 3.78% at December 31, 2025.
The Federal Home Loan Bank advances are secured by first and second mortgage loans, and commercial real estate loans totaling approximately $2.5 billion. Advances are subject to restrictions or penalties in the event of prepayment.
At December 31, 2025, the Bank had available approximately $1.7 billion in credit lines with various money center banks, including the FHLB.

Contractual maturities in years ending December 31 are as follows:
YearAmount
202691,506 
2027150,066 
2028— 
20296,148 
Thereafter866 
$248,586 
v3.25.4
Non-Qualified Deferred Compensation Plan
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Non-Qualified Deferred Compensation Plan Non-Qualified Deferred Compensation Plan
The Company sponsors a non-qualified deferred compensation plan for a select group of management or highly compensated employees of the Company under the Horizon Bancorp Non-Qualified Deferred Compensation Plan (“DCP). This plan was effective January 1, 2025, as an amendment to the Horizon Bancorp 2005 Supplemental Executive Retirement Plan (“SERP”). The DCP provides participating officers with the ability to defer income in addition to the benefits provided under the Company's Employee Thrift Plan.
The DCP is a deferred compensation plan under which benefits are derived based on a notional account balance to be funded by the Company for each participating officer. The account balance was credited with a Company matching contribution based on the amount of the employee’s contribution. The matching formula is 100% of the employees first 2% contribution of their salary and 50% of the next 4% up to a maximum of eligible compensation. Plan participants could select from a variety of investment options which mirror the options provided under the Company’s Employee Thrift Plan. Assets of the DCP (i.e. the participants' account balances) were not physically invested in the investments selected by the participants; rather, they are utilized for the purpose of debiting or crediting additional amounts to each participants' account. The Company informally funded its obligation to plan participants in a rabbi trust, which is consolidated by the Company, and is comprised of investment options similar to those selected by the Participants. The assets held in the rabbi trust were reported at their estimated fair value of $11.0 million at December 31, 2025 and were included in cash and other assets in the Company's consolidated balance sheets. The amounts held in the rabbi trust were reported at their estimated fair value of $10.7 million at December 31, 2024 and were included in cash and stockholders' equity in the Company's consolidated balance sheets. The related accrued benefit cost (representing the Company's benefit obligation to participants) of $11.0 million and $10.7 million at December 31, 2025 and December 31, 2024, respectively, was recorded in other liabilities in the Company's consolidated balance sheets.
The DCP is accounted for pursuant to FASB ASC section 710-10, “Compensation - Overall” (“ASC 710-10”). Participants are credited with a contribution to an account and will receive, upon separation, a benefit based upon the vested amount accrued in their account, which includes both the officer's and Company's contributions plus or minus the increase or decrease in the fair market value of the assets selected by the participant. ASC 710-10
requires the Company to record a liability and related compensation expense during the service period. The Company is accruing the expense under the assumption that all participants in will achieve full vesting (six years of service). Following the vesting period, the liability continues to be remeasured each reporting period until extinguishment of the liability, with offsetting adjustments to compensation costs. The Company matching contribution and related expense was $280 thousand, $433 thousand and $344 thousand for the years ended December 31, 2025, December 31, 2024 and December 31, 2023, respectively. The DCP is included with Equity securities in other assets in Note 22 - Disclosures about fair value of assets and liabilities.
v3.25.4
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2025
Postemployment Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
The Employee Thrift Plan (“Plan”) provides that all employees of Horizon with the requisite hours of service are eligible for the Plan. The Plan permits voluntary employee contributions and Horizon may make discretionary matching and profit sharing contributions. Each eligible employee is vested according to a schedule based upon years of service. Employee voluntary contributions are vested at all times. The Bank’s expense related to the Plan totaled approximately $2.1 million in 2025, $1.7 million in 2024 and $1.9 million in 2023.
The Plan owned a total of 581,791 shares of Horizon’s stock or 1.1% of the outstanding shares as of December 31, 2025.
v3.25.4
Income Tax
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Tax Income Tax
Income tax expense (benefit) was as follows:
December 31
2025		December 31
2024		December 31
2023
Income tax expense (benefit)
Currently payable
Federal$21,195 $8,558 $14,980 
State13,606 363 (640)
Deferred
Federal(72,848)(15,528)(3,393)
State(12,624)(1,472)71 
Total income tax expense (benefit)$(50,671)$(8,079)$11,018 
A reconciliation between reported income tax expense and the amounts computed by applying the U.S. federal statutory income tax rate of 21% to income before income taxes is presented in the following table. There were no activities or transactions that had foreign income taxes or cross-border tax effects during the reported periods. State income/franchise taxes are primarily related to the State of Indiana, while amounts related to other jurisdictions were not significant, in the aggregate, during the reported periods.
202520242023
Reconciliation of federal statutory to actual tax expense (benefit)AmountPercentAmountPercentAmountPercent
Tax expense (benefit) calculated at the statutory federal income tax rate$(42,242)21 %$5,743 21 %$8,190 21 %
State and local income tax, net of federal income tax effect (a)(1,844)1 %(1,185)(4)%142 — %
Tax credit investments, net of amortization(1,105)1 %(1,290)(5)%(2,976)(8)%
Income not subject to tax
     Tax Exempt Interest(5,277)3 %(6,427)(24)%(6,777)(17)%
     Tax exempt BOLI income(417)— %(273)(1)%(779)(2)%
Nondeductible Expenses227 — %404 1 %628 2 %
Other, net(13)— %150 1 %(459)(1)%
Revaluation of deferred tax assets— — %(5,201)(19)%5,201 13 %
BOLI redemption ordinary income— — %— — %5,316 14 %
BOLI redemption excise— — %— — %2,532 7 %
Actual tax expense (benefit)$(50,671)25.2 %$(8,079)(29.5)%$11,018 28.2 %
(a) State taxes in Indiana make up the majority (greater than 50 percent) of the tax effect in this category
Year-end deferred taxes are presented in the table below.
December 31
2025		December 31
2024
Assets
Allowance for credit losses$12,578 $12,590 
Net operating loss and tax credits461 10,805 
Director and employee benefits5,342 3,334 
Unrealized loss on AFS securities and fair value hedge20,482 29,355 
Net capitalized expenses96,561 — 
Basis in partnership equity investments2,649 1,940 
Fair value adjustment on acquisitions789 883 
Other2,613 2,938 
Total assets141,475 61,845 
Liabilities
Depreciation(4,213)(4,061)
Federal Home Loan Bank stock dividends(297)(353)
Difference in basis of intangible assets(5,821)(6,553)
Other(1,291)(1,003)
Total liabilities(11,622)(11,970)
Valuation allowance— — 
Net deferred tax asset/(liability)$129,853 $49,875 

Cash paid for income taxes was as follows:
December 31
2025		December 31
2024		December 31
2023
Cash paid for income taxes
Federal$10,536 $10,710 $2,137 
State
Indiana15,869 — — 
All others1,002 — — 
Total$27,407 $10,710 $2,137 

The Company has federal general business tax credits of $0.4 million that can be carried forward twenty years and expire beginning in 2044.

The Company accounts for qualifying investment tax credits using the proportional amortization method and all others under the deferral method. Investment tax credits totaled $5.1 million and $7.5 million for 2025 and 2024, respectively.

The Company recorded no valuation allowance for the year December 31, 2025 and 2024. The Company believes all of its deferred tax assets as of December 31, 2025 will be realized.

Retained earnings of the Bank include approximately $12.8 million for which no deferred income tax liability has been recognized. This amount represents an allocation of previously acquired institutions income to bad debt deductions as of December 31, 1987 for tax purposes only. Reductions of amounts so allocated for purposes other than tax bad debt losses including redemption of bank stock or excess dividends, or loss of “bank” status would
create income for tax purposes only, which would be subject to the then-current corporate income tax rate. The unrecorded deferred income tax liability on the above amount for the Company was approximately $2.7 million at December 31, 2025.

The Company files income tax returns in U.S. federal, state and local jurisdictions. With a few exceptions, the Company is no longer subject to U.S. federal, state and local or non-U.S. income tax examinations by tax authorities for years before 2021.
v3.25.4
Stockholders' Equity
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive loss, net of tax included in capital are as follows:
December 31
2025		December 31
2024
Unrealized gain (loss) on securities available for sale$(25,996)$(38,193)
Unamortized gain (loss) on securities held to maturity, previously transferred from AFS— 1,892 
Total accumulated other comprehensive income (loss)$(25,996)$(36,301)
Common Stock
On August 22, 2025, the Company closed a public offering of 7,138,050 shares of its common stock, at a price to the public of $14.50 per share, which included 931,050 shares of the Company’s common stock granted pursuant to the underwriters’ option to purchase additional shares at the public offering price, less underwriting discounts. This offering generated net proceeds of approximately $98.0 million after deducting the underwriting discounts and commissions and offering expenses payable by the Company.
v3.25.4
Off-Balance Sheet Arrangements, Commitments, and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Off-Balance Sheet Arrangements, Commitments, and Contingencies Off-Balance Sheet Arrangements, Commitments, and Contingencies
In the normal course of business, the Company is a party to financial instruments with off-balance sheet risk to meet the financing needs of its clients. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of amounts recorded in the consolidated balance sheets.
Commitments to extend credit are legally binding agreements to lend to a client, so long as there is no violation of any condition established in the commitment contract. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements.
Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a client to a third party. The credit risk involved in issuing letters of credit is essentially the same as the credit risk involved in extending loan facilities to clients. The Company’s policy for obtaining collateral, and determining the nature of such collateral, is essentially the same as in the Company’s policies for making commitments to extend credit. The methodology for estimating the liability for unfunded loan commitments is consistent with the allowance for credit losses on loans.
The following table represents the commitments to extend credit and standby letters of credit as of December 31, 2025 and December 31, 2024, respectively:
December 31, 2025December 31, 2024
Commitments to extend credit$1,124,850 $1,018,302 
Commitments under outstanding standby letters of credit$22,274 $23,457 
Total$1,147,124 $1,041,759 
v3.25.4
Regulatory Capital
 12 Months Ended
Dec. 31, 2025
Regulatory Capital Requirements under Banking Regulations [Abstract]  
Regulatory Capital Regulatory Capital
Horizon and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. These capital requirements implement changes arising from the Dodd–Frank Wall Street Reform and Consumer Protection Act and the U.S. Basel Committee on Banking Supervision’s capital framework (known as “Basel III”). Failure to meet the minimum regulatory capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators, which if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective actions, the Company and Bank must meet specific capital guidelines involving quantitative measures of the Bank’s assets, liabilities, and certain off–balance–sheet items as calculated under regulatory accounting practices. The Company’s and Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.
The Company and Bank are subject to minimum regulatory capital requirements as defined and calculated in accordance with the Basel III–based regulations. As allowed under Basel III rules, the Company made the decision to opt–out of including accumulated other comprehensive income in regulatory capital. The minimum regulatory capital requirements are set forth in the table below.
In addition, to be categorized as well capitalized, the Company and Bank must maintain Total risk–based, Tier I risk–based, common equity Tier I risk–based and Tier I leverage ratios as set forth in the table below. As of December 31, 2025 and December 31, 2024, the Company and Bank met all capital adequacy requirements to be considered well capitalized. There have been no conditions or events since the end of the year 2025 that management believes have changed the Bank’s classification as well capitalized. There is no threshold for well capitalized status for bank holding companies.
The following table presents Horizon and the Bank’s actual and required capital ratios as of December 31, 2025 and December 31, 2024:
Actual
Required for Capital
Adequacy Purposes(1)
Required For Capital
Adequacy Purposes
with Capital Buffer(1)
Well Capitalized Under
Prompt
Corrective Action
Provisions(1)
AmountRatioAmountRatioAmountRatioAmountRatio
December 31, 2025
Total capital (to risk-weighted assets)(1)
Consolidated$762,541 14.36 %$424,791 8.00 %$557,538 10.50 %N/AN/A
Bank687,316 12.99 %423,209 8.00 %555,461 10.50 %$529,011 10.00 %
Tier 1 capital (to risk-weighted assets)(1)
Consolidated611,186 11.51 %318,593 6.00 %451,340 8.50 %N/AN/A
Bank634,176 11.99 %317,407 6.00 %449,659 8.50 %423,209 8.00 %
Common equity tier 1 capital (to risk-weighted assets)(1)
Consolidated553,498 10.42 %238,945 4.50 %371,692 7.00 %N/AN/A
Bank634,176 11.99 %238,055 4.50 %370,308 7.00 %343,857 6.50 %
Tier 1 capital (to average assets)(1)
Consolidated611,186 9.55 %256,006 4.00 %256,006 4.00 %N/AN/A
Bank634,176 9.94 %255,282 4.00 %255,282 4.00 %319,103 5.00 %
Actual
Required for Capital
Adequacy Purposes(1)
Required For Capital
Adequacy Purposes
with Capital Buffer(1)
Well Capitalized Under
Prompt
Corrective Action
Provisions(1)
AmountRatioAmountRatioAmountRatioAmountRatio
December 31, 2024
Total capital (to risk-weighted assets)(1)
Consolidated $800,209 13.91 %$460,266 8.00 %$604,099 10.50 %N/AN/A
Bank725,383 12.64 %459,039 8.00 %602,489 10.50 %$573,799 10.00 %
Tier 1 capital (to risk-weighted assets)(1)
Consolidated 690,183 12.00 %345,199 6.00 %489,033 8.50 %N/AN/A
Bank671,095 11.70 %344,279 6.00 %487,729 8.50 %$459,039 8.00 %
Common equity tier 1 capital (to risk-weighted assets)(1)
Consolidated632,760 11.11 %258,900 4.50 %402,733 7.00 %N/AN/A
Bank671,095 11.70 %258,209 4.50 %401,659 7.00 %$372,969 6.50 %
Tier 1 capital (to average assets)(1)
Consolidated690,183 8.88 %310,825 4.00 %310,825 4.00 %N/AN/A
Bank671,095 8.64 %310,539 4.00 %310,539 4.00 %$388,174 5.00 %
(1)As defined by regulatory agencies
v3.25.4
Share-Based Compensation
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation Share–Based Compensation
On June 18, 2013, the Board of Directors adopted the Horizon Bancorp 2013 Omnibus Equity Incentive Plan (“2013 Plan”), which was approved by the Company’s shareholders on May 8, 2014. Under the 2013 Plan, Horizon may issue up to 1,556,325 common shares, plus the number of shares that are tendered to or withheld by Horizon in connection with the exercise of options under the 2013 Plan plus that number of shares that are purchased by Horizon with the cash proceeds received upon option exercises. The 2013 Plan limits the number of shares available to 225,000 for incentive stock options and to 900,000 for the grant of non–option awards. The shares available for issuance under the 2013 Plan may be divided among the various types of awards and among the participants as the Committee determines. The Committee is authorized to grant any type of award to a participant that is consistent with the provisions of the 2013 Plan. Awards may consist of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, performance units, performance shares or any combination of these awards. The Committee determines the provisions, terms and conditions of each award. The 2013 Plan was amended on May 3, 2018, upon shareholder approval, primarily to allow grants of other types of stock–based awards, such as awards valued in whole or in part by reference to the value of shares of Horizon common stock. All share data has been adjusted for the 3:2 stock split on June 15, 2018 and November 14, 2016.
The restricted shares can vest over a period of time established by the Committee at the time of each grant, but the restricted shares already granted under the 2013 Plan generally cliff vest at the end of three years of continuous employment. Holders of restricted shares have the same dividend and voting rights as unrestricted shares. The restricted shares are recorded at fair market value (on the date granted) as a separate component of stockholders’ equity. The cost of these shares is being amortized against earnings using the straight–line method over the vesting period. There were no unvested restricted shares outstanding in the 2013 Plan as of December 31, 2024 and December 31, 2025.
The performance shares that are awarded become earned and vested based on the achievement of certain performance goals during a performance period as established by the Committee at the time of each grant. The performance goals under the outstanding grant agreements are based on a comparison of the Company’s average performance over the performance period for the return on common equity, compounded annual growth rate of total assets, and return on average assets, all as relative to the average performance for publicly traded banks with total assets between $1 billion and $5 billion on the SNL Bank Index. Holders of performance share awards receive pass–through dividends but do not have any voting rights before the performance shares are earned and vested. There were no unvested performance shares outstanding in the 2013 Plan as of December 31, 2024 and December 31, 2025.
The options shares granted under the 2013 Plan vest at a rate designated per the individual agreements.
The fair value of options granted is estimated on the date of the grant using an option–pricing model. There have been no options granted since 2019.
A summary of option activity under the 2013 Plan as of December 31, 2025, and changes during the year then ended, is presented below:
SharesWeighted-
Average
Exercise Price		Weighted-
Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
Outstanding, beginning of year94,798 $16.87 2.84 years$56,985 
Granted— — — 
Exercised(7,695)10.38 126,429 
Forfeited(1,500)16.76 — 
Expired— — — 
Outstanding, end of year85,603 $17.46 2.00 years$14,805 
Exercisable, end of year85,603 $17.46 2.00 years14,805 
There have been no options granted under the 2013 Plan during the years 2025, 2024 and 2023. The total intrinsic value of stock options exercised was approximately $126 thousand, $418 thousand, and $355 thousand for the years ended December 31, 2025, 2024, and 2023.
On January 19, 2021, the Board of Directors adopted the Horizon Bancorp 2021 Omnibus Equity Incentive Plan (“2021 Plan”), which was approved by the Company’s shareholders on May 6, 2021. Under the 2021 Plan, Horizon may issue up to 1,787,548 common shares, plus the number of shares that are tendered to or withheld by Horizon in connection with the exercise of options under the 2021 Plan plus that number of shares that are purchased by Horizon with the cash proceeds received upon option exercises. The Committee is authorized to grant any type of award to a participant that is consistent with the provisions of the 2021 Plan. Awards may consist of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, performance units, performance shares or any combination of these awards. The Committee determines the provisions, terms and conditions of each award.
The restricted shares can vest over a period of time established by the Committee at the time of each grant, but the restricted shares already granted under the 2021 Plan generally cliff vest at the end of three years of continuous employment. Holders of restricted shares have the same dividend and voting rights as unrestricted shares. The restricted shares are recorded at fair market value (on the date granted) as a separate component of stockholders’ equity. The cost of these shares is being amortized against earnings using the straight–line method over the vesting period.
The performance shares that are awarded become earned and vested based on the achievement of certain performance goals during a performance period as established by the Committee at the time of each grant. The performance goals under the outstanding grant agreements are based on a comparison of the Company’s average performance over the performance period for the return on common equity, compounded annual growth rate of total assets, and return on average assets, all as relative to the average performance for publicly traded banks with total assets between $5 billion and $10 billion on the SNL Bank Index. Holders of performance awards receive pass–through dividends but do not have any voting rights before the performance shares are earned and vested.
The option shares granted under the 2021 Plan vest at a rate designated per the individual agreements. As of December 31, 2025, there have been no stock options granted under the 2021 Plan.
A summary of the status of Horizon’s non–vested restricted and performance shares under the 2021 Plan as of December 31, 2025 are presented below:
SharesWeighted
Average
Grant Date
Fair Value
Non-vested, beginning of year718,197 $13.73 
Vested(374,108)14.74 
Granted146,436 15.76 
Forfeited(34,021)20.03 
Non-vested, end of year456,504 13.08 
The total fair value of shares vested during 2025, 2024 and 2023 were $5.9 million, $2.0 million, and $1.8 million, respectively.
The Company did not have option-based compensation expense applicable to the Company’s share-based compensation plans for the years ended December 31, 2025 or December 31, 2024. The Company does not have any unrecognized option-based compensation expense related to unvested options as of December 31, 2025.
Compensation expense recognized in the income statement for restricted share and performance share based payment arrangements during 2025, 2024 and 2023 was $1.6 million, $4.6 million, and $3.6 million. The recognized tax benefit related thereto was approximately $340 thousand, $963 thousand, and $753 thousand for the years ended December 31, 2025, 2024 and 2023.
There was no cash received from option exercise under all share–based payment arrangements for the years ended December 31, 2025 and 2024. The actual tax benefit realized for the tax deductions from option exercise of the share–based payment arrangements totaled $22 thousand, $72 thousand, and $58 thousand, for the years ended December 31, 2025, 2024 and 2023.
As of December 31, 2025, there was $2.4 million of total unrecognized compensation cost related to all non–vested share–based compensation arrangements granted under all of the plans. That cost is expected to be recognized over a weighted–average period of 11 months.
v3.25.4
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Our hedging policy allows the use of interest rate derivative instruments to manage our exposure to interest rate risk or hedge specified assets and liabilities. All derivative instruments are carried on the balance sheet at their estimated fair value and are recorded in other assets or other liabilities, as appropriate, and in the net change in each of these financial statement line items in the accompanying consolidated statement of cash flows.
Fair Value Hedges
Fair value hedges are intended to manage interest rate risk associated with the underlying hedged items. The Company utilizes fair value hedges and applies the portfolio layer method to hedge stated amounts within a closed portfolio of certain available-for-sale mortgage-backed debt securities.
To mitigate the impact of interest rate fluctuations on fair value, the Company previously entered into interest rate swap agreements on individual loans, converting the fixed rate loans to a variable rate. The Company also previously utilized fair value hedges to hedge investment securities, converting the fixed rate security to a variable rate. Changes in fair value of both the hedge instruments and the underlying loan and security agreements are recorded as gains or losses in interest income. During the year ended December 31, 2024, the Company terminated the fair value hedges on loans and securities, recording a deferred gain of $2.3 million on the loan termination that will be accreted into interest income over the remaining life of the underlying loans, and a mark-to-
market adjustment of $0.3 million that was recorded in non-interest income on the termination of the fair value hedges against investment securities. The remaining accretion on the loans was $1.7 million at December 31, 2025.
During the year ended December 31, 2025, the Company entered into interest rate swap agreements designated as fair value hedges of interest rate rate risk associated with certain fixed-rate investment securities. The swaps are intended to hedge changes in fair value attributable to fluctuations in that benchmark rate. Changes to fair value hedges on mortgage-backed securities are recorded as gains or losses in interest income. The hedged items consist of mortgage-backed securities which are located in the 'Investment securities, available for sale' line item on the consolidated balance sheet. The hedge relationship fair value is recorded in the "other liabilities" line item on the consolidated balance sheet. The hedge relationships had stated maturities ranging from March 27, 2040 to March 27, 2042.
The company assesses hedge effectiveness on a monthly basis using regression analysis, the fair value hedges are considered highly effective.
Other Derivative Instruments
From time to time, we may enter into certain interest rate swaps that are not designated as hedging instruments. These interest rate derivative contracts relate to transactions in which we enter into an interest rate swap with a customer while concurrently entering into an offsetting interest rate swap with a third-party financial institution. We agree to pay interest to the customer on a notional amount at a variable rate and receive interest from the customer on a similar notional amount at a fixed interest rate. At the same time, we agree to pay a third-party financial institution the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. These interest rate derivative contracts allow our customers to effectively convert a variable rate loan to a fixed rate loan.

The Company enters into non–hedging derivatives in the form of mortgage loan forward sale commitments with investors and commitments to originate mortgage loans as part of its mortgage banking business. At December 31, 2025, the Company’s fair value of these derivatives were recorded and over the next 12 months are not expected to have a significant impact on the Company’s net income.

Changes in fair value of both the forward sale commitments and commitments to originate mortgage loans were recorded and the net gains or losses included in the Company’s gain on sale of loans.
The following tables summarize the fair value of our derivative financial instruments utilized by the Company on a gross basis for the periods indicated.
Asset DerivativesLiability Derivatives
December 31, 2025December 31, 2025
Notional
Amount		Fair
Value		Notional
Amount		Fair
Value
Derivatives designated as hedging instruments
Interest rate contracts - fair value hedges$121,542 $307 $— 
Total derivatives designated as hedging instruments121,542 307 — 
Derivatives not designated as hedging instruments
Interest rate contracts -customer accommodation460,276 13,658 460,276 13,658 
Mortgage loan contracts— — 11,254 14 
Commitments to originate mortgage loans3,644 94 — — 
Total derivatives not designated as hedging instruments463,920 13,752 471,530 13,672 
Total derivatives585,462 14,059 471,530 13,672 
Total derivatives subject to enforceable master netting arrangements, gross585,462 14,059 471,530 13,672 
Less: Gross amounts offset— — — — 
Total derivatives subject to enforceable master netting arrangements, net$585,462 $14,059 $471,530 $13,672 
Asset DerivativesLiability Derivatives
December 31, 2024December 31, 2024
Notional
Amount		Fair
Value		Notional
Amount		Fair
Value
Derivatives designated as hedging instruments
Interest rate contracts - fair value hedges$— $— $— $— 
Total derivatives designated as hedging instruments— — — — 
Derivatives not designated as hedging instruments
Interest rate contracts - customer accommodation521,520 28,817 521,520 28,817 
Mortgage loan contracts6,155 27 — — 
Commitments to originate mortgage loans6,856 202 — — 
Total derivatives not designated as hedging instruments534,531 29,046 521,520 28,817 
Total derivatives534,531 29,046 521,520 28,817 
Total derivatives subject to enforceable master netting arrangements, gross534,531 29,046 521,520 28,817 
Less: Gross amounts offset— — — — 
Total derivatives subject to enforceable master netting arrangements, net$534,531 $29,046 $521,520 $28,817 
While the Company is party to master netting arrangements with most of its swap derivative counterparties, the Company has elected to not offset derivative assets and liabilities under these agreements on its consolidated balance sheets.
Collateral exchanged between the Company and dealer bank counterparties is generally subject to thresholds and transfer minimums, and usually consists of marketable securities. At December 31, 2025, the Company did not pledge any marketable securities as collateral.
The effect of the derivative and the hedged item in fair value hedging relationships on the consolidated statements of income for the year-ended December 31 is as follows:
Location of gain
(loss)
recognized on derivative and Hedge item		Amount of Gain (Loss) Recognized on Derivative and Hedged Item Years Ended December 31
202520242023
Derivatives designated as hedging instruments
Interest rate contracts - fair value hedgeInterest income - loans receivable$— $1,166 $1,169 
Hedged item— (1,166)(1,169)
Interest rate contracts - fair value hedgeInterest income - investment securities332 (220)240 
Hedged item(307)220 (240)
Total$25 $— $— 
The effect of derivatives not designated as hedging instruments on the consolidated statements of income for the year-ended December 31 is as follows:
Location of gain
(loss)
recognized on derivative		Amount of Gain (Loss) Recognized on Derivative Years Ended December 31
202520242023
Derivative not designated as hedging relationship
Mortgage loan contractsNon-interest income-gain (loss) on sale of loans$(42)$68 $83 
Commitments to originate mortgage loansNon-interest income-gain (loss) on sale of loans(108)(67)(159)
Total$(150)$1 $(76)

The following tables summarize the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships.

Amortized Cost of Hedged ItemsCumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Items
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Available for Sale Debt Securities$122,442 $— $(307)$— 
v3.25.4
Disclosures about Fair Value of Assets and Liabilities
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Disclosures about Fair Value of Assets and Liabilities Disclosures about Fair Value of Assets and Liabilities
The Fair Value Measurements topic of the FASB ASC defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. There are three levels of inputs that may be used to measure fair value:
Level 1 –Quoted prices in active markets for identical assets or liabilities
Level 2 –Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities
Level 3 –Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities
Following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis and recognized in the accompanying consolidated financial statements, as well as the general classification of such instruments pursuant to the valuation hierarchy. There have been no significant changes in the valuation techniques during the period ended December 31, 2025. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below.
Available for sale securities
When quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Level 2 securities include U.S. Treasury and federal agency securities, state and municipal securities, US. government agency mortgage-backed securities, and mortgage–backed pools and corporate notes. Level 2 securities are valued by a third party pricing service commonly used in the banking industry utilizing observable inputs. Observable inputs include dealer quotes, market spreads, cash flow analysis, the U.S. Treasury yield curve, trade execution data, market consensus prepayment spreads and available credit information and the bond’s terms and conditions. The pricing provider utilizes evaluated pricing models that vary based on asset class. These models incorporate available market information including quoted prices of securities with similar characteristics and, because many fixed–income securities do not trade on a daily basis, apply available information through processes such as benchmark curves, benchmarking of like securities, sector grouping, and matrix pricing. In addition, model processes, such as an option adjusted spread model, is used to develop prepayment and interest rate scenarios for securities with prepayment features. Level 3 securities use the discounted cash flow model or other market indicators to calculate the fair values.
Equity securities in other assets
The fair value of the Company's equity investments in other assets is estimated by a third party utilizing readily determinable fair values quoted on an active market. These investments include the Company's non-qualified deferred compensation plan (see Note 14 - Non-Qualified Deferred Compensation Plan). The Company informally funded its obligation to plan participants in a rabbi trust, which is consolidated by the Company, and is comprised of investment options similar to those selected by the Participants. The assets held in the rabbi trust were reported at their estimated fair value and were included in cash and other assets in the Company's consolidated balance sheets. The related accrued benefit cost (representing the Company's benefit obligation to participants) is recorded as an offsetting liability in other liabilities in the Company's consolidated balance sheets. These assets are classified within Level 1 of the valuation hierarchy.
Interest rate swap agreements
The fair value of the Company’s interest rate swap agreements is estimated by a third party using inputs that are primarily unobservable including a yield curve, adjusted for liquidity and credit risk, contracted terms and discounted cash flow analysis, and therefore, are classified within Level 2 of the valuation hierarchy.
Commitments to originate mortgage loans and mortgage loan contract assets/liabilities
The Company’s forward commitments are valued based on quoted prices for similar assets in an active market with inputs that are observable.
The following table presents the fair value measurements of assets and liabilities recognized in the accompanying financial statements measured at fair value on a recurring basis and the level within the FASB ASC fair value hierarchy in which the fair value measurements fall at the following:
December 31, 2025
Carrying AmountQuoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets:
Available for sale securities
U.S. Treasury and federal agencies16,905 — 16,905 — 
State and municipal319,665 — 319,665 — 
U.S. government agency mortgage-backed securities494,174 — 494,174 — 
Corporate notes44,670 — 40,799 3,871 
Total available for sale securities875,414 — 871,543 3,871 
Equity securities in other assets7,871 7,871 — — 
Held for trading securities3,883 — 3,883 — 
Interest rate swap agreements asset13,965 — 13,965 — 
Commitments to originate mortgage loans94 — 94 — 
Liabilities
Mortgage loans contracts(14)— (14)— 
Interest rate swap agreements liability(13,658)— (13,658)— 
December 31, 2024
Carrying AmountQuoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets:
Available for sale securities
U.S. Treasury and federal agencies$1,801 $— $1,801 $— 
State and municipal201,834 — 201,834 — 
U.S. government agency mortgage-backed securities14,543 — 14,543 — 
Corporate notes15,499 — 15,499 — 
Total available for sale securities233,677 — 233,677 — 
Equity securities595 595 — — 
Interest rate swap agreements asset28,817 — 28,817 — 
Commitments to originate mortgage loans202 — 202 — 
Mortgage loan contracts27 — 27 — 
Liabilities:
Interest rate swap agreements liability(28,817)— (28,817)— 
Level 3 recurring fair value measurements:
The following tables present the changes in fair value for assets classified within Level 3 of the fair value hierarchy. During 2025, the Company recorded its only Level 3 fair value measurement, an available‑for‑sale corporate debt security, which was transferred from Level 2 to Level 3 due to increased reliance on significant unobservable inputs used in the discounted cash flow model. At the time of transfer, the security had an amortized cost of $5 million and the Company recognized an initial allowance for credit losses $150 thousand and an initial write down of $2.1 million; the fair value at the transfer date is reflected within "Transfers into Level 3". Subsequent changes during the year included an adjustment to the allowance for credit losses of $30 thousand (reflecting the decrease in the allowance for credit losses to $120 thousand). These valuation inputs primarily relate to expected cash flow timing, credit assumptions, and the discount rate applied to those cash flows:
Year Ended December 31
Level 3 instruments at fair value 2025
Fair value beginning of year — 
Transfers into Level 3 (at fair value on transfer date)$2,787 
Total gains/losses included in earnings (subsequent ACL change - AFS securities)30 
Total gains/losses included in OCI1,054 
Ending balance – December 31, 2025$3,871 
Certain other assets are measured at fair value on a non-recurring basis in the ordinary course of business and are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment):
Carrying AmountQuoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
December 31, 2025
Collateral dependent loans$7,429 $— $— $7,429 
December 31, 2024
Collateral dependent loans$3,797 $— $— $3,797 
Collateral Dependent Loans: For loans identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value.
The following table presents qualitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements, other than goodwill, at December 31, 2025 and 2024.
December 31, 2025
Carrying AmountValuation
Technique		Unobservable
Inputs		Range
(Weighted Average)
Collateral dependent loans$7,429 Collateral based measurementDiscount to reflect current market conditions and ultimate collectability
34.2%–67.4% (30.6%)
December 31, 2024
Carrying AmountValuation
Technique		Unobservable
Inputs		Range
(Weighted Average)
Collateral dependent loans$3,797 Collateral based measurementDiscount to reflect current market conditions and ultimate collectability
16.1%–40.1% (36.6%)
v3.25.4
Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair Value of Financial Instruments
The estimated fair value amounts of the Company’s financial instruments were determined using available market information, current pricing information applicable to Horizon and various valuation methodologies. Where market quotations were not available, considerable management judgment was involved in the determination of estimated fair values. Therefore, the estimated fair value of financial instruments shown below may not be representative of the amounts at which they could be exchanged in a current or future transaction. Due to the inherent uncertainties of expected cash flows of financial instruments, the use of alternate valuation assumptions and methods could have a significant effect on the estimated fair value amounts.
The following table does not include certain financial instruments that are recorded at fair value on a recurring basis, including some non-recurring financial instruments. See Note 22 for more details.
The estimated fair values of financial instruments, as shown below, are not intended to reflect the estimated liquidation or market value of Horizon taken as a whole. The disclosed fair value estimates are limited to Horizon’s significant financial instruments at December 31, 2025 and December 31, 2024. These include financial instruments recognized as assets and liabilities on the consolidated balance sheet as well as certain off–balance sheet financial instruments. The estimated fair values shown below do not include any valuation of assets and liabilities which are not financial instruments as defined by the FASB ASC fair value hierarchy.
The following methods and assumptions were used to estimate the fair value of each class of financial instrument:
Cash and Cash Equivalents – Cash and cash equivalents are composed of: cash and due from banks, interest-bearing deposits in banks, and federal funds sold. The carrying amounts approximate fair value.
Interest-Earning Time Deposits – The carrying amounts approximate fair value.
Held-to-Maturity Securities — For debt securities held to maturity, fair values are based on quoted market prices or dealer quotes. For those securities where a quoted market price is not available, carrying amount is a reasonable estimate of fair value based upon comparison with similar securities.
Loans Held for Sale — For mortgage loans, the fair value is derived from third party pricing models, based on active quotes. For non-mortgage loans, the assets are carried at the lower of cost or fair value.
Net Loans — The fair value of net loans are estimated on an exit price basis incorporating discounts for credit, liquidity and marketability factors.
FHLB Stock — Fair value of FHLB stock is based on the price at which it may be resold to the FHLB
Interest Receivable/Payable — The carrying amounts approximate fair value.
Deposits — The fair value of demand deposits, savings accounts, interest bearing checking accounts and money market deposits is the amount payable on demand at the reporting date and are classified within Level 1. The fair value of fixed maturity certificates of deposit is estimated by discounting the future cash flows using rates currently offered for deposits of similar remaining maturity and are classified within Level 2.
Borrowings — Rates currently available to Horizon for debt with similar terms and remaining maturities are used to estimate fair values of existing borrowings.
Subordinated Notes — The fair value of subordinated notes is based on discounted cash flows based on current borrowing rates for similar types of instruments.
Junior Subordinated Debentures to Capital Trusts — Rates currently available for debentures with similar terms and remaining maturities are used to estimate fair values of existing debentures.
The following tables present estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall.
December 31, 2025
Carrying
Amount		Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets
Cash and due from banks$66,813 $66,813 $— $— 
Interest- bearing deposits in banks72,646 72,646 — — 
Federal funds sold— — — — 
Cash and cash equivalents139,459 139,459 — — 
Interest earning time deposits— — — — 
Investment securities, held to maturity— — — — 
Loans held for sale9,778 — 9,778 — 
Loans, net4,825,243 — — 4,695,231 
Stock in FHLB45,713 — 45,713 — 
Interest receivable29,733 — 29,733 — 
Liabilities
Non-interest bearing deposits$1,078,708 $1,078,708 $— $— 
Interest bearing deposits4,196,709 3,094,231 1,100,237 — 
Borrowings248,586 — 248,580 — 
Subordinated notes98,215 — 98,835 — 
Junior subordinated debentures issued to capital trusts57,688 — 51,468 — 
Interest payable12,892 — 12,892 — 
December 31, 2024
Carrying
Amount		Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets
Cash and due from banks$92,300 $92,300 $— $— 
Interest-earning deposits201,131 201,131 — — 
Federal funds sold— — — — 
Cash and cash equivalents293,431 293,431 — — 
Interest earnings time deposits735 — 735 — 
Investment securities, held to maturity1,867,690 — 1,566,268 — 
Loans held for sale67,597 — 64,824 2,773 
Loans (excluding loan level hedges), net4,795,060 — — 4,611,702 
Stock in FHLB53,826 — 53,826 — 
Liabilities
Non-interest bearing deposits$1,064,818 $1,064,818 $— $— 
Interest bearing deposits4,535,834 3,446,680 1,084,986 — 
Borrowings1,232,252 — 1,230,860 — 
Subordinated notes55,738 — 55,284 — 
Junior subordinated debentures issued to capital trusts57,477 — 48,559 — 
Interest payable11,137 — 11,137 — 
v3.25.4
General Litigation
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
General Litigation General LitigationFrom time to time, Horizon and its subsidiaries are involved in various legal proceedings incidental to the conduct of their business. Management does not expect that the outcome of any such proceedings will have a material adverse effect on our consolidated financial position or results of operations. The specific litigation referenced in the 2024 Form 10-K have been resolved in 2025.
v3.25.4
Condensed Financial Information (Parent Company Only)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information (Parent Company Only) Condensed Financial Information (Parent Company Only)
Presented below is condensed financial information as to financial position, results of operations and cash flows of Horizon Bancorp, Inc.:
Condensed Balance Sheets
December 31
2025		December 31
2024
Assets
Total cash and cash equivalents$81,246 $86,938 
Investment in subsidiaries770,811 803,799 
Other assets17,254 9,806 
Total assets$869,311 $900,543 
Liabilities
Subordinated notes$98,215 $55,738 
Junior subordinated debentures issued to capital trusts57,688 57,477 
Other liabilities25,157 23,748 
Stockholders’ Equity688,251 763,580 
Total liabilities and stockholders’ equity$869,311 $900,543 
Condensed Statements of Income
Years Ended December 31
202520242023
Income:
Dividend income from subsidiaries$40,000 $38,000 $55,500 
Other income343 117 431 
Total Income:$40,343 $38,117 $55,931 
Expenses:
Interest expense9,653 7,906 8,226 
Salaries and employee benefit expense2,101 5,351 3,502 
Other expense1,190 434 370 
Total expenses:$12,944 $13,691 $12,098 
Income Before Undistributed Income of Subsidiaries$27,399 $24,426 $43,833 
Undistributed Income (loss) of Subsidiaries(181,244)8,198 (17,838)
Income (Loss) Before Tax$(153,845)$32,624 $25,995 
Income Tax Benefit3,363 2,805 1,986 
Net Income (Loss) Available to Common Shareholders$(150,482)$35,429 $27,981 
Condensed Statements of Comprehensive Income (Loss)
Years Ended December 31
202520242023
Net Income (Loss)$(150,482)$35,429 $27,981 
Other Comprehensive Income (Loss)
Change in fair value of derivative instruments
Change in fair value of derivative instruments for the period— — (523)
Reclassification adjustment for swap termination gain realized in income— — (1,453)
Income tax effect— — 415 
Changes from derivative instruments— — (1,561)
Change in securities:
Unrealized gain (loss) for the period on available for sale securities(284,181)(120)20,728 
Amortization (accretion) from transfer of securities from available for sale to held to maturity securities(2,395)(657)(691)
Reclassification adjustment for securities (gains) losses realized in income299,538 39,140 32,052 
Income tax effect(2,657)(8,055)(10,939)
Unrealized gains (losses) on securities10,305 30,308 41,150 
Other Comprehensive Income (Loss), Net of Tax10,305 30,308 39,589 
Comprehensive Income (Loss)$(140,177)$65,737 $67,570 
Condensed Statements of Cash Flows
Years Ended December 31
202520242023
Operating Activities
Net income (loss)$(150,482)$35,429 $27,981 
Items not requiring (providing) cash
Equity in undistributed net income of subsidiaries181,244 (8,198)17,838 
Change in:
Share based compensation1,621 4,586 3,586 
Other assets(8,026)(4,621)7,184 
Other liabilities1,236 3,717 (413)
Net cash provided by operating activities25,593 30,913 56,176 
Investing Activities
Capital contribution to subsidiary(138,108)— — 
Other investing activities735 1,829 1,762 
Net cash provided by (used in) investing activities(137,373)1,829 1,762 
Net cash used in investing activities
Other change in borrowings— — 378 
Dividends paid on common shares(29,488)(28,328)(28,311)
Net settlement of share awards(4,089)(1,371)(1,221)
Proceeds from issuance of stock97,950 — — 
Net proceeds from issuance of subordinated notes98,215 — — 
Repayment of subordinated notes(56,500)— (3,132)
Other— 4,146 — 
Net cash provided by (used in) financing activities106,088 (25,553)(32,286)
Net Change in Cash and Cash Equivalents(5,692)7,189 25,652 
Cash and Cash Equivalents at Beginning of Year86,938 79,749 54,097 
Cash and Cash Equivalents at End of Year$81,246 $86,938 $79,749 
v3.25.4
Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Horizon Bancorp has one reportable segment. Business activities are managed on a consolidated basis and revenues are derived primarily through commercial banking, offering retail banking and private wealth management from North America. Horizon Bancorp’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM assesses performance and allocates resources based on consolidated net income, as reported on the Consolidated Statement of Income, and the same accounting policies are applied as described in the Note 1 - Nature of Operations and Summary of Significant Accounting Policies.
The CODM uses net income to evaluate income generated from segment assets in deciding whether to reinvest profits into the business or distribute dividends to shareholders. The CODM also uses net income in competitive analysis by benchmarking against Horizon Bancorp’s competitors. The competitive analysis, along with the monitoring of budgeted versus actual results, is used in assessing performance of the segment and in establishing management’s compensation.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
The Board established the Cyber Security Committee of the Board in December 2022 to augment the Board's oversight with cybersecurity focus and expertise and to complement the risk framework activities of the Enterprise Risk Management and Credit Policy Committee. The Cyber Security Committee considers risks associated with Horizon's overall cyber security and information technology programs; information technology audits; the security risk insurance that Horizon maintains for information technology, cyber security and privacy risks; Horizon's information security training programs; and compliance with all rules and regulations and risk control policies and procedures relating to information technology and cyber security.

Pursuant to the Cyber Security Committee Charter, the Cyber Security Committee is required to meet at least three times per year and report to the Board annually. The Cyber Security Committee met three times in 2025. In addition, the Cyber Security Committee Charter provides that a majority of the Cyber Security Committee's voting members must qualify as independent directors under SEC rules and NASDAQ listing standards. During 2025, 100% of the Cyber Security Committee's members qualified as independent.

Horizon's senior management briefs the Cyber Security Committee at each Cyber Security Committee meeting (see below for detailed discussion). In 2025, Horizon's information technology/cyber security program was audited by Horizon's internal auditors. The Cyber Security Committee Charter is posted on Horizon's website at www.horizonbank.com in the section headed “About Us – Investor Relations – Corporate Information” under the caption “Corporate Governance.”

Through Horizon's enterprise risk management framework and reporting functions, the Board, its Committees and Management assess and manage cybersecurity risks created by cybersecurity threats. Horizon's Vice President, Information Security and Audit Information Security officer (“Information Security Officer”) provides an annual Information Security Program report to the Board and as needed when
cybersecurity risk is elevated. Horizon's Senior Vice President, Senior Technology Officer is a member of the Cyber Security Committee and reports on cyber security risks at each meeting a minimum of three times a year. The Senior Vice President, Senior Technology Officer reports to the Executive Vice President, Senior Operations Officer, who also is a member of the Cyber Security Committee. For independence, the Information Security Officer reports to Horizon's Senior Vice President, Senior Auditor and Compliance Officer. Horizon's risk escalation framework requires progressive escalation of cyber security risks to management and its committees, then to Board Committees and, ultimately, to the Board.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
The Board established the Cyber Security Committee of the Board in December 2022 to augment the Board's oversight with cybersecurity focus and expertise and to complement the risk framework activities of the Enterprise Risk Management and Credit Policy Committee. The Cyber Security Committee considers risks associated with Horizon's overall cyber security and information technology programs; information technology audits; the security risk insurance that Horizon maintains for information technology, cyber security and privacy risks; Horizon's information security training programs; and compliance with all rules and regulations and risk control policies and procedures relating to information technology and cyber security.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Management's Operations Committee meets monthly and provides oversight and governance of the technology and cyber security programs.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Management's Operations Committee meets monthly and provides oversight and governance of the technology and cyber security programs.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Horizon's senior management briefs the Cyber Security Committee at each Cyber Security Committee meeting (see below for detailed discussion).
Cybersecurity Risk Role of Management [Text Block]
The Executive Vice President, Senior Operations Officer has 36 years of experience in operations and technology with an educational background in Business Administration. In the role of Senior Bank Operations Officer and Executive for the past 25 years, she oversees and works closely with Horizon's technology and security teams to develop and implement robust security measures to protect the Bank's systems, networks, and customer data. The Senior Bank Operations Officer stays current on the latest industry trends and emerging cyber threats through publications, webinars, seminars, and banking association training around cyber security. She also collaborates with external agencies, such as law enforcement and regulatory bodies, to address cyber threats and ensure compliance with industry best practices.

The Senior Vice President, Senior Technology Officer has 29 years of experience in information technology, with the last 14 as the information technology leader for the Bank. He holds a bachelor’s degree in computer science. He is an active member of FS–ISAC's Mergers an Acquisition Working Group, is a member of InfraGard, and serves as the chairperson for the finance committee on the Indiana Governor's Executive Council on Cybersecurity. He attends numerous industry training sessions including those put on by the SANS Institute, PaloAlto, Cisco, Microsoft, the Cybersecurity, and Infrastructure Security Agency (CISA), and FS–ISAC.

The Vice President, Information Security and Audit Information Security Officer has 29 years as an IT Professional, with the last 9 as the cybersecurity leader for Horizon Bank with an education background in Technology. He has achieved numerous certifications throughout his career including the Microsoft Certified Systems Engineer (MCSE) and Certified Novell Engineering (CNE 5/6). He has demonstrated a continued commitment to excellence and attained certification as a Certified Information Systems Security Professional (CISSP) issued by ISC2 in 2022 and renewed in 2025. In addition, he attained the Certified Information Security Manager (CISM) from ISACA in 2024. Through continuous learning and professional development, the Information Security Officer has honed his expertise in cybersecurity frameworks, threat detection, incident response, and risk management. He also serves as a member of the Indiana Bankers Association (IBA) Cyber Security Committee and attends numerous industry training sessions including those put on by Microsoft, FS–ISAC, SANS Institute.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Horizon's Senior Vice President, Senior Technology Officer is a member of the Cyber Security Committee and reports on cyber security risks at each meeting a minimum of three times a year. The Senior Vice President, Senior Technology Officer reports to the Executive Vice President, Senior Operations Officer, who also is a member of the Cyber Security Committee. For independence, the Information Security Officer reports to Horizon's Senior Vice President, Senior Auditor and Compliance Officer. Horizon's risk escalation framework requires progressive escalation of cyber security risks to management and its committees, then to Board Committees and, ultimately, to the Board.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
The Executive Vice President, Senior Operations Officer has 36 years of experience in operations and technology with an educational background in Business Administration. In the role of Senior Bank Operations Officer and Executive for the past 25 years, she oversees and works closely with Horizon's technology and security teams to develop and implement robust security measures to protect the Bank's systems, networks, and customer data. The Senior Bank Operations Officer stays current on the latest industry trends and emerging cyber threats through publications, webinars, seminars, and banking association training around cyber security. She also collaborates with external agencies, such as law enforcement and regulatory bodies, to address cyber threats and ensure compliance with industry best practices.

The Senior Vice President, Senior Technology Officer has 29 years of experience in information technology, with the last 14 as the information technology leader for the Bank. He holds a bachelor’s degree in computer science. He is an active member of FS–ISAC's Mergers an Acquisition Working Group, is a member of InfraGard, and serves as the chairperson for the finance committee on the Indiana Governor's Executive Council on Cybersecurity. He attends numerous industry training sessions including those put on by the SANS Institute, PaloAlto, Cisco, Microsoft, the Cybersecurity, and Infrastructure Security Agency (CISA), and FS–ISAC.

The Vice President, Information Security and Audit Information Security Officer has 29 years as an IT Professional, with the last 9 as the cybersecurity leader for Horizon Bank with an education background in Technology. He has achieved numerous certifications throughout his career including the Microsoft Certified Systems Engineer (MCSE) and Certified Novell Engineering (CNE 5/6). He has demonstrated a continued commitment to excellence and attained certification as a Certified Information Systems Security Professional (CISSP) issued by ISC2 in 2022 and renewed in 2025. In addition, he attained the Certified Information Security Manager (CISM) from ISACA in 2024. Through continuous learning and professional development, the Information Security Officer has honed his expertise in cybersecurity frameworks, threat detection, incident response, and risk management. He also serves as a member of the Indiana Bankers Association (IBA) Cyber Security Committee and attends numerous industry training sessions including those put on by Microsoft, FS–ISAC, SANS Institute.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Senior Vice President, Senior Technology Officer and Information Security Officer are members of this committee and report monthly on the technology and cyber security programs. The Senior Vice President, Senior Technology Officer also is a member of Management's Enterprise Risk & Disclosure Committee, which meets a minimum of four times a year, to report on the technology and cyber security programs.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Business
Nature of Business — The consolidated financial statements of Horizon Bancorp, Inc. (“Horizon”) and its wholly owned subsidiary, Horizon Bank (“Bank”) together referred to as “Horizon,” conform to accounting principles generally accepted in the United States of America and reporting practices followed by the banking industry.
The Bank is a full–service commercial bank offering a broad range of commercial and retail banking and other services incident to banking along with a trust department that offers corporate and individual trust and agency services and investment management services. The Bank maintains 71 full service offices. The Bank has wholly owned direct and indirect subsidiaries: Horizon Investments, Inc. (“Horizon Investments”), Horizon Properties, Inc. (“Horizon Properties”), Horizon Insurance Services, Inc. (“Horizon Insurance”) and Horizon Grantor Trust. Horizon Investments manages the investment portfolio of the Bank. Horizon Properties manages the real estate investment trust. Horizon Insurance is used by the Company’s Wealth Management to sell certain insurance products. Horizon Grantor Trust holds title to certain company owned life insurance policies. Horizon conducts no business except that incident to its ownership of the subsidiaries.
Horizon formed Horizon Bancorp Capital Trust II in 2004 (“Trust II”) and Horizon Bancorp Capital Trust III in 2006 (“Trust III”) for the purpose of participating in pooled trust preferred securities offerings. The Company assumed additional debentures as the result of the following acquisitions: Alliance Financial Corporation in 2005, which formed Alliance Financial Statutory Trust I (“Alliance Trust”); American Trust & Savings Bank in 2010, which formed Am Tru Statutory Trust I (“Am Tru Trust”); Heartland Bancshares, Inc. in 2013, which formed Heartland (IN) Statutory Trust II (“Heartland Trust”); LaPorte Bancorp, Inc. in 2016, which had acquired City Savings Statutory Trust I (“City Savings Trust”); and Salin Bancshares, Inc. in 2019, which formed Salin Statutory Trust I (“Salin Trust”). See Note 13 of the Consolidated Financial Statements for further discussion regarding these previously consolidated entities that are now reported separately. The business of Horizon is not seasonal to any material degree.
Basis of Reporting Basis of Reporting — The consolidated financial statements include the accounts of Horizon and subsidiaries.
Consolidation All material inter-company accounts and transactions have been eliminated in consolidation.
Use of Estimates
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The allowance for credit losses and the fair values of financial instruments are particularly subject to change.
Business Combinations Business Combinations — Business combinations are accounted for using the acquisition method of accounting. The accounts of an acquired entity are included as of the date of acquisition, and any excess of purchase price over the fair value of the net assets acquired is capitalized as goodwill. Horizon typically issues Common Stock and/or pays cash for an acquisition, depending on the terms of the acquisition agreement. The value of Common Stock issued is determined based on the market price of the stock as of the closing of the acquisition. Acquisition costs are expensed when incurred.
Cash and Cash Equivalents
Cash and Cash Equivalents — Cash and cash equivalents includes cash, deposits with other financial institutions with original maturities under 90 days, and federal funds sold.
Fair Value Measurements
Fair Value Measurements — Horizon uses fair value measurements to record fair value adjustments, to certain assets, and liabilities and to determine fair value disclosures. Horizon has adopted Accounting Standards Codification (ASC) 820, Fair Value Measurements and Disclosures for all applicable financial and nonfinancial assets and liabilities. This accounting guidance defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. This guidance applies only when other guidance requires or permits assets or liabilities to be measured at fair value; it does not expand the use of fair value in any new circumstances.
As defined in codification, fair value is the price to sell an asset or transfer a liability in an orderly transaction between market participants. It represents an exit price at the measurement date. Market participants are buyers and sellers, who are independent, knowledgeable, and willing and able to transact in the principal (or most advantageous) market for the asset or liability being measured. Current market conditions, including imbalances between supply and demand, are considered in determining fair value. Horizon values its assets and liabilities in the principal market where it sells the particular asset or transfers the liability with the greatest volume and level of activity. In the absence of a principal market, the valuation is based on the most advantageous market for the asset or liability (i.e., the market where the asset could be sold or the liability transferred at a price that maximizes the amount to be received for the asset or minimizes the amount to be paid to transfer the liability).
In measuring the fair value of an asset, Horizon assumes the highest and best use of the asset by a market participant to maximize the value of the asset, and does not consider the intended use of the asset.
When measuring the fair value of a liability, Horizon assumes that the nonperformance risk associated with the liability is the same before and after the transfer. Nonperformance risk is the risk that an obligation will not be satisfied and encompasses not only Horizon’s own credit risk (i.e., the risk that Horizon will fail to meet its obligation), but also other risks such as settlement risk. Horizon considers the effect of its own credit risk on the fair value for any period in which fair value is measured.
There are three acceptable valuation techniques that can be used to measure fair value: the market approach, the income approach and the cost approach. Selection of the appropriate technique for valuing a particular asset or liability takes into consideration the exit market, the nature of the asset or liability being valued, and how a market participant would value the same asset or liability. Ultimately, determination of the appropriate valuation method requires significant judgment, and sufficient knowledge and expertise are required to apply the valuation techniques.
Valuation inputs refer to the assumptions market participants would use in pricing a given asset or liability using one of the three valuation techniques. Inputs can be observable or unobservable. Observable inputs are those assumptions which market participants would use in pricing the particular asset or liability. These inputs are based on market data and are obtained from a source independent of Horizon. Unobservable inputs are assumptions based on Horizon’s own information or estimate of assumptions used by market participants in pricing the asset or liability. Unobservable inputs are based on the best and most current information available on the measurement date. All inputs, whether observable or unobservable, are ranked in accordance with a prescribed fair value hierarchy which gives the highest ranking to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest ranking to unobservable inputs (Level 3). Fair values for assets or liabilities classified as Level 2 are based on one or a combination of the following factors: (i) quoted prices for similar assets; (ii) observable inputs for the asset or liability, such as interest rates or yield curves; or (iii) inputs derived principally from or corroborated by observable market data. The level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company considers an input to be significant if it drives 10% or more of the total fair value of a particular asset or liability.
Assets and liabilities are considered to be fair valued on a recurring basis if fair value is measured regularly (i.e., daily, weekly, monthly or quarterly). Recurring valuation occurs at a minimum on the measurement date. Assets and liabilities are considered to be fair valued on a nonrecurring basis if the fair value measurement of the instrument does not necessarily result in a change in the amount recorded on the balance sheet. Generally, nonrecurring valuation is the result of the application of other accounting pronouncements which require assets or liabilities to be assessed for impairment or recorded at the lower of cost or fair value. The fair value of assets or liabilities transferred in or out of Level 3 is measured on the transfer date, with any additional changes in fair value subsequent to the transfer considered to be realized or unrealized gains or losses.
Investment Securities Available for Sale and Held for Trading
Investment Securities Available for Sale — Horizon designates a portion of its investment portfolio as available for sale based on management’s plans to use such securities for asset and liability management, liquidity and not to hold such securities as long-term investments. Management repositions the portfolio to take advantage of future expected interest rate trends when Horizon’s long-term profitability can be enhanced. Investment securities available for sale and marketable equity securities are carried at estimated fair value and any net unrealized gains/losses (after tax) on these securities are included in accumulated other comprehensive income. Amortization of premiums and accretion of discounts are recorded as interest income from securities. Gains/losses on the disposition of securities available for sale are recognized at the time of the transaction and are determined by the specific identification method.
Investment Securities Held for Trading — Horizon maintains a portfolio of securities classified as trading securities, which include debt and equity instruments that are purchased with the intent of selling them in the near term. Trading securities are recorded at fair value, and both realized and unrealized gains and losses are recognized in earnings.
Investment Securities Held to Maturity
Investment Securities Held to Maturity — Includes any security for which Horizon has the positive intent and ability to hold until maturity. These securities are carried at amortized cost.
Loans and Loans Held for Sale
Loans — Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost. Amortized cost is the principal balance outstanding, net of purchase premiums and discounts, deferred loan fees and costs. Accrued interest receivable totaling $23.7 million and $25.6 million at December 31, 2025 and 2024 was excluded from the Allowance for Credit Losses (“ACL”) calculation and was reported in accrued interest receivable on the consolidated balance sheet. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the effective yield method without anticipating prepayments.
Interest on commercial, mortgage and installment loans is recognized over the term of the loans based on the principal amount outstanding. When principal or interest is past due 90 days or more, and the loan is not well secured or in the process of collection, or when serious doubt exists as to the collectability of a loan, the accrual of interest is discontinued. Loan origination fees, net of direct loan origination costs, are deferred and recognized over the life of the loan as a yield adjustment. Discounts and premiums on purchased loans are amortized to income using the interest method over the remaining period to contractual maturity, adjusted for anticipated prepayments.
From time to time, the Bank obtains information that may lead management to believe that the collection of payments may be doubtful on a particular loan. In recognition of this, it is management's policy to convert the loan from an “earning asset” to a non–accruing loan. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date. Further, it is management's policy to generally place a loan on non–accrual status when the payment is delinquent in excess of 90 days or the loan has had the accrual of interest discontinued by management. The officer responsible for the loan and the Chief Commercial Banking and/or the Chief Operations Officer must review all loans placed on non–accrual status. Subsequent payments on non–accrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Non–accrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal in accordance with the loan terms. The Company requires a period of satisfactory performance of not less than six months before returning a non–accrual loan to accrual status.
Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals and modifications unless either of the following applies: management has a reasonable expectation at the reporting date that a modified loan will be executed with an individual borrower or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company.
Consistent with regulatory guidance, charge–offs on all loan segments are taken when specific loans, or portions thereof, are considered uncollectible. The Company's policy is to promptly charge these loans off in the period the uncollectible loss is reasonably determined.
For all loan portfolio segments except 1–4 family residential properties and consumer, the Company promptly charges off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower's ability to adequately meet its obligations. For impaired loans that are considered to be solely collateral dependent, a partial charge–off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral.
The Company charges off 1–4 family residential and consumer loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Company adheres to timeframes established by applicable regulatory guidance which provides for the charge–down or specific allocation of family first and junior lien mortgages to the net realizable value less costs to sell when the value is known but no later than when a loan is 180 days past due. Pursuant to such guidelines, the Company also charges off unsecured open–end loans when the loan is contractually 90 days past due. Loans at these respective delinquency thresholds for which the Company can clearly document that the loan is both well–secured and in the process of collection, such that collection in full will occur regardless of delinquency status, are not charged off.
A loan is individually evaluated when, based on current information, a creditor may be experiencing financial difficulty and repayment is substantially expected through operation or sale of collateral. For collateral–dependent assets individually evaluated, the Company utilizes, as a practical expedient, the fair value of collateral, adjusted for estimated costs to sell, when determining the allowance for credit losses.
Smaller–balance, homogeneous loans are evaluated in total. Such loans include residential first mortgage loans secured by 1–4 family residences, residential construction loans, automobile, home equity, second mortgage loans and mortgage warehouse loans. Commercial loans and mortgage loans secured by other properties are evaluated individually.
Loans Held for Sale — Loans held for sale generally consist of mortgage loans originated and intended for sale in the secondary market and are carried at the lower of cost or fair value. Net unrealized losses, if any, are recognized through a valuation allowance by charges to non–interest income. Gains and losses on loan sales are recorded in non–interest income, and direct loan origination costs and fees are deferred at origination of the loan and are recognized in non–interest income upon sale of the loan.
Modifications for Borrowers Experiencing Financial Difficulty
Modifications for Borrowers Experiencing Financial Difficulty — The Company may renegotiate the terms of existing loans for a variety of reasons. When refinancing or restructuring a loan, the Company evaluates whether the borrower is experiencing financial difficulty. In making this determination, the Company considers whether the borrower is currently in default on any of its debt. In addition, the Company evaluates whether it is probable that the borrower would be in payment default on any of its debt in the foreseeable future without the modification and if the borrower (without the current modification) could obtain equivalent financing from another creditor at a market rate for similar debt. Modifications of loans to borrowers in these situations may indicate that the borrower is facing financial difficulty
Loan modifications to borrowers experiencing financial difficulty may be in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay, or a term extension or a combination thereof, among other things. For disclosure purposes, an other-than-insignificant payment delay represents a deferral of payments of greater than 3 months within a 12 month period.
Purchased Credit Deteriorated (“PCD”) Loans
Purchased Credit Deteriorated (“PCD”) Loans — The Company has purchased loans, some of which have experienced credit deterioration since origination. PCD loans are recorded at the amount paid. An ACL on loans is determined using the same methodology as other loans held for investment. The initial ACL on loans determined on a collective basis is allocated to individual loans. The sum of the loan’s purchase price and ACL on loans becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized or accreted into interest income over the remaining life of the loan. Subsequent changes to the ACL on loans are recorded through credit loss expense.
Concentrations of Credit Risk Concentrations of Credit Risk — The Bank grants commercial, real estate, and consumer loans to customers located primarily in Indiana and Michigan. Commercial loans make up approximately 70% of the loan portfolio and are secured by both real estate and business assets. These loans are expected to be repaid from cash flows from operations of the businesses. The Bank does not have a concentration in speculative commercial real estate loans. Residential real estate loans make up approximately 16% of the loan portfolio and are secured by residential real estate. Installment loans make up approximately 14% of the loan portfolio and are primarily secured by consumer assets.
Allowance for Credit Losses (“ACL”) on Loans and Modified Loans
Allowance for Credit Losses (“ACL”) on Loans — The ACL on loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the ACL when management believes the loan balance is confirmed to be no longer collectible. Expected recoveries do not exceed the aggregate of amounts previously charged off and expected to be charged off.
Management estimates the ACL balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan–specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as for changes in environmental conditions, changes in economic conditions, or other relevant factors.
The Company considers the following when estimating credit losses: 1) available information relevant to assessing the collectibility of cash flows including internal information, external information or a combination of both relating to past events, current conditions and reasonable and supportable forecasts; 2) relevant qualitative and quantitative factors relating to the environment in which the Company operates and factors specific to the borrower; 3) off–balance sheet credit exposures; and credit support.
For periods beyond the reasonable and supportable forecast period, management applies a reversion method to estimate expected credit losses. The reversion method involves gradually reverting to historical loss experience over a specified period. Typically, the Company used a straight-line reversion method over a four-quarter period. Subsequent to the four quarter reversion period, the historical loss rate is applied to the remaining life of the loan.
ACL on loans is measured on a collective basis and reflects impairment in groups of loans aggregated on the basis of similar risk characteristics which may include any one or a combination of the following: internal credit ratings, risk ratings or classification, financial asset type, collateral type, size, industry of the borrower, historical or expected credit loss patterns, and reasonable and supportable forecast periods. The ACL for a specific portfolio segment is computed by multiplying the loss rate by the amortized cost balance of the segment with adjustments for other qualitative factors as described above. As appropriate, newer credit products or portfolios with limited historical loss may use applicable external data for determining the ACL until experience justifies that sufficient product maturity supports the estimate of expected credit losses.
Pursuant to ASC 326–20–30–9, an entity shall not rely solely on past events to estimate expected credit losses, and should consider adjustments to historical information to reflect the extent to which management expects current conditions and forecasted conditions to differ from the periods utilized for the historical loss rate calculation. Management has incorporated an adjustment of the historical loss rate calculated within the model to reflect current and forecasted condition and has applied this adjustment on a qualitative factor basis to the aggregate pool loss rate.
The qualitative adjustment is based on a combination of external econometric data and internal factors such as portfolio composition, changes in management, changes in loan policy and other factors. The economic forecast is based in part on economic indexes and quantitative matrices with a twenty–four month forecast. The qualitative adjustment is calculated based on current and forecasted conditions and evaluated each quarter by management, and therefore is dynamic in nature. The qualitative economic adjustment is then reverted over a twelve month period to the historical base loss rate which is preserved in the calculation of “all in” loss rate.
Specific reserves reflect collateral shortfalls on loans identified for evaluation or individually considered non–performing, including troubled debt restructurings and receivables where the Company has determined foreclosure
is probable. These loans no longer have similar risk characteristics to collectively evaluated loans due to changes in credit risk, borrower circumstances, recognition of write–offs, or cash collections that have been fully applied to principal on the basis of non–accrual policies. At a minimum, the population of loans subject to individual evaluation include individual loans and leases where it is probable we will be unable to collect all amounts due, according to the original contractual terms. These include commercial impaired loans, jumbo residential mortgages (as defined), and jumbo home equity loans with a balance exceeding $250,000, and other loans as determined by management. ACL for residential and consumer loans are, primarily, determined by pools of similar loans and are evaluated on a quarterly basis.
Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. When management determines that foreclosure is probable, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate.
Allowance for Credit Losses on Off–Balance Sheet (“OBS”) Credit Exposures Allowance for Credit Losses on Off–Balance Sheet (“OBS”) Credit Exposures — The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The Company determines the estimated amount of expected credit extensions based on historical usage to calculate the amount of exposure for a loss estimate.
Allowance for Credit Losses on Available for Sale Securities and Held to Maturity Securities
Allowance for Credit Losses on Available for Sale Securities — For available for sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. For debt securities available for sale that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recorded in other comprehensive income.
Changes in the ACL are recorded as provision for, or reversal of, credit loss expense. Losses are charged against the allowance when management believes the available for sale security is confirmed to be uncollectible or when either of the criteria regarding intent or requirement to sell is met.
Allowance for Credit Losses on Held to Maturity Securities — For held to maturity securities, the Company conducts an assessment of its held to maturity securities at the time of purchase and on at least an annual basis to ensure such investment securities remain within appropriate levels of risk and continue to perform satisfactorily in fulfilling its obligations. The Company considers, among other factors, the nature of the securities and credit ratings or financial condition of the issuer. If available, the Company obtains a credit rating for issuers from the Nationally Recognized Statistical Rating Organization (“NRSRO”) for consideration. If this assessment indicates that a material credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss.
Premises and Equipment
Premises and Equipment — Land is carried at cost. Premises and equipment are stated at cost, net of accumulated depreciation and amortization. Buildings and major improvements are capitalized and depreciated using primarily the straight-line method with useful lives ranging from 3 to 40 years. Furniture and equipment are capitalized and depreciated using primarily the straight-line method with useful lives ranging from 2 to 20 years. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized. Gains and losses on disposition are included in current operations.
Repossessed Assets
Repossessed Assets - Repossessed assets consist of property that has been repossessed and is comprised of commercial and residential real estate and other non-real estate property, including auto and recreational and
marine vehicles. The assets are initially recorded at fair value less estimated selling costs, establishing a new cost basis. Initial valuation adjustments are charged to the allowance for credit losses. Fair values are estimated primarily based on appraisals, third-party price opinions, or internally developed pricing models. After initial recognition, fair value estimates are updated periodically. Declines in fair value below cost are recognized through valuation allowances which may be reversed when supported by future increases in fair value. These valuation adjustments, in addition to gains and losses realized on sales and net operating expenses, are recorded in other non-interest expense. Repossessed assets are included in other assets on the consolidated balance sheet.
Federal Reserve and Federal Home Loan Bank of Indianapolis (FHLBI) Stock
Federal Reserve and Federal Home Loan Bank of Indianapolis (FHLBI) Stock — The stock is a required investment for institutions that are members of the Federal Reserve Bank (“FRB”) and Federal Home Loan Bank (“FHLB”) systems. The required investment in the common stock is based on a predetermined formula.
Partnership Investments Partnership Investments — The Company invests in partnerships that generate qualified affordable housing and solar tax credits. The Company has elected to account for partnership investments in qualified affordable housing using the proportional amortization method. Under the proportional amortization method, the initial cost of the investment is amortized to income tax expense in proportion to the tax credits and other tax benefits received. This net investment performance is recognized in the income statement as a component of income tax expense. The Company accounts for qualifying investment tax credits using the proportional amortization method and all others under the deferral method.
Mortgage Servicing Rights
Mortgage Servicing Rights — Mortgage servicing assets are recognized separately when rights are acquired through purchase or through sale of financial assets and included in other assets on the balance sheet. Under the servicing assets and liabilities accounting guidance (ASC 860-50), servicing rights resulting from the sale or securitization of loans originated by the Company are initially measured at fair value at the date of transfer. Under the amortization method, servicing rights are amortized in proportion to and over the period of estimated net servicing income. The amortized assets are assessed for impairment or increased obligation based on fair value at each reporting date.
Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. These variables change from quarter to quarter as market conditions and projected interest rates change, and may have an adverse impact on the value of the mortgage servicing right and may result in a reduction to non–interest income.
Each class of separately recognized servicing assets subsequently measured using the amortization method are evaluated and measured for impairment. Impairment is determined by stratifying rights into tranches based on predominant characteristics, such as loan term and rate type. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that fair value is less than the carrying amount of the servicing assets for that tranche. The valuation allowance is adjusted to reflect changes in the measurement of impairment after the initial measurement of impairment. Changes in valuation allowances are reported with mortgage servicing income net of impairment on the income statement. Fair value in excess of the carrying amount of servicing assets for that stratum is not recognized.
Servicing fee income, which is reported on the income statement as mortgage servicing income, net, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Servicing fees totaled $1.5 million, $1.7 million and $2.7 million for the years ended December 31, 2025, 2024, and 2023, respectively. Late fees and ancillary fees related to loan servicing were not material.
Goodwill and Intangible Assets
Goodwill and Intangible Assets — Goodwill is tested annually for impairment or more frequently should potential triggering events be identified that may indicate potential impairment. At December 31, 2025, Horizon had core deposit intangibles of $7.2 million subject to amortization and $155.2 million of goodwill, which is not subject to amortization. Goodwill arising from business combinations represents the value attributable to unidentifiable intangible assets in the business acquired. Horizon’s goodwill relates to the value inherent in the banking industry and that value is dependent upon the ability of Horizon to provide quality, cost effective banking services in a competitive marketplace. The goodwill value is supported by revenue that is in part driven by the volume of business transacted. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. A large majority of the goodwill relates to the acquisitions of Heartland, Summit, Peoples, Kosciusko, LaPorte, Lafayette, Wolverine and Salin.
Advertising Costs Advertising Costs — Advertising costs are expensed as incurred and included in non-interest expenses in the Consolidated Statement of Income.
Bank Owned Life Insurance (BOLI)
Bank Owned Life Insurance (“BOLI”) – BOLI has been purchased on certain employees and directors of the Company. The Company records the life insurance at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due that are probable at settlement.
Securities Purchased Under Agreements to Resell, Securities Sold Under Agreements to Repurchase and Other Secured Borrowings
Securities Purchased Under Agreements to Resell, Securities Sold Under Agreements to Repurchase and Other Secured Borrowings — The Company purchases certain securities, generally U.S. government–sponsored entity and agency securities, under agreements to resell. The amounts advanced under these agreements represent short–term secured loans and are reflected as assets in the accompanying consolidated balance sheets. We also sell certain securities under agreements to repurchase. These agreements are treated as collateralized financing transactions. These and other secured borrowings such as loans sold not qualifying for sale accounting treatment, are reflected as liabilities in the accompanying consolidated balance sheets and are recorded at the amount of cash received in connection with the transaction. Short–term securities sold under agreements to repurchase generally mature within one to four days from the transaction date. Securities, generally U.S. government agency securities, pledged as collateral under these financing arrangements can be re–pledged by the secured party. Additional collateral may be required based on the fair value of the underlying securities.
Income Taxes
Income Taxes — The Company accounts for income taxes in accordance with income tax accounting guidance (ASC 740, Income Taxes). The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized.
Uncertain tax positions are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment.
The Company recognizes interest and penalties on income taxes as a component of income tax expense.
The Company files consolidated income tax returns with its subsidiaries.
Trust Assets and Income
Trust Assets and Income — Property, other than cash deposits, held in a fiduciary or agency capacity is not included in the consolidated balance sheets since such property is not owned by Horizon.
Transfer of Financial Assets
Transfer of Financial Assets — The transfer of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company and put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets.
Earnings per Common Share Earnings per Common 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.
Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows — For purposes of reporting cash flows, cash and cash equivalents are defined to include cash and due from banks, money market investments and federal funds sold with maturities of one day or less. Horizon reports net cash flows for customer loan transactions, deposit transactions, short–term investments and short-term borrowings.
Comprehensive Income (Loss)
Comprehensive Income (Loss) — Comprehensive income (loss) consists of net income and other comprehensive income (loss), net of applicable income taxes. Other comprehensive income (loss) includes unrealized gain (loss) on available for sale securities, unrealized and realized gains and losses in cash flow derivative financial instruments and accretion (amortization) of available for sale securities transferred to held to maturity.
Share-Based Compensation Share–Based Compensation — At December 31, 2025, Horizon had share–based compensation plans, which are described more fully in Note 20. All share–based payments are to be recognized as expense, based upon their fair values, in the financial statements over the vesting period of the awards.
Derivative Financial Instruments
Derivative Financial Instruments — The Company occasionally enters into derivative financial instruments as part of its interest rate risk management strategies. These derivative financial instruments consist primarily of interest rate swaps. All derivative instruments are recorded on the Consolidated Balance Sheets, as either an asset or liability, at their fair value. The accounting for the gain or loss resulting from the change in fair value depends on the intended use of the derivative. For a derivative used to hedge changes in fair value of a recognized asset or liability, or an unrecognized firm commitment, the gain or loss on the derivative will be recognized in earnings together with the offsetting loss or gain on the hedged item. This results in an earnings impact only to the extent that the hedge is ineffective in achieving offsetting changes in fair value. If it is determined that the derivative instrument is not highly effective as a hedge, hedge accounting is discontinued and the adjustment to fair value of the derivative instrument is recorded in earnings. For a derivative used to hedge changes in cash flows associated with forecasted transactions, the gain or loss of the effective portion of the derivative will be deferred, and reported as accumulated other comprehensive income, a component of stockholders’ equity, until such time the hedged transaction affects earnings. For derivative instruments not accounted for as hedges, changes in fair value are recognized in non–interest income or non–interest expense. See Note 21 - Derivative Financial Instruments.
Revenue Recognition
Revenue Recognition — Accounting Standards Codification 606, “Revenue from Contracts with Customers” (ASC 606) provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance enumerates five steps that entities should follow in achieving this core principle. Revenue generated from financial instruments, including loans and investment securities, are not included in the scope of ASC 606. The adoption of ASC 606 did not result in a change to the accounting of any of the Company’s revenue streams that are within the scope of the amendments. Revenue–gathering activities that are within the scope of ASC 606 and that are presented as non-interest income in the Company’s consolidated statements of income include:
•Service charges and fees on deposit accounts – these include general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer and overdraft activities. Revenue is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services.
•Fiduciary activities – this includes periodic fees due from trust and wealth management customers for managing the customers’ financial assets. Fees are charged based on a standard agreement and are recognized as they are earned.
Segments
Segments — The Company has identified one reporting unit and one operating segment, community banking, which encompasses commercial and consumer banking services to serve a similar base of clients utilizing company-wide offerings of similar products and services managed through similar processes and platforms offered to individuals, businesses, municipalities and other entities. See Note 26 - Segment Reporting for more details.
Adoption of New Accounting Standards and Accounting Guidance Issued But Not Yet Adopted
Adoption of New Accounting Standards
ASU No. 2023-09 "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09") requires additional annual disclosures including further disaggregation of information in the rate reconciliation, additional information for reconciling items meeting a quantitative threshold, further disaggregation of income taxes paid and other required disclosures. ASU 2023-09 became effective in 2025 (see Note 16 - Income Taxes)
Accounting Guidance Issued But Not Yet Adopted
ASU 2024-03 "Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses" ("ASU 2024-03") requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 requires new financial statement disclosures in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. The prescribed categories include, among other things, employee compensation, depreciation, and intangible asset amortization. Additionally, entities must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for the Company, on a prospective basis, for annual periods beginning in 2027, and interim periods within fiscal years beginning in 2028, though early adoption and retrospective application is permitted. ASU 2024-03 is not expected to have a significant impact on our financial statements.
ASU 2025-09, “Derivatives and Hedging (Topic 815): Hedge Accounting Improvements.” (“ASU-2025-09”) This ASU is effective for annual periods beginning after December 15, 2026. The amendments are intended to better align hedge accounting with the economics of entities’ risk‑management activities and to address implementation issues that emerged following ASU 2017‑12 and the transition away from LIBOR. The Company expects adoption will primarily affect documentation and processes and does not expect a material impact on the consolidated financial statements.
ASU No. 2025-06, "Intangibles—Goodwill and Other—Internal-Use Software" (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, seeking to update the guidance on accounting for software. This ASU addresses stakeholder and investor concerns on the challenges of applying current internal-use software accounting requirements that do not specifically address software developed using modern incremental and iterative methods, which has led to diversity in practice in determining when to begin capitalizing software costs. The ASU removes all references to a prescriptive and sequential software development method. The amendments require an entity to start capitalizing software costs when management has authorized and committed to funding the software project, and it is probable that the project will be completed and the software will be used to perform the function intended. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2027, and for interim reporting periods beginning after December 15, 2027. The Company does not anticipate this ASU will have a material impact on its financial statements.
ASU 2025‑08, "Financial Instruments - Credit Losses (Topic 326): Purchased Loans.” ASU 2025-08 expands the scope of the “gross‑up” method, formerly applicable only to purchased credit‑deteriorated ("PCD") assets, to include acquired non‑PCD loans that meet certain criteria, now referred to as “purchased seasoned loans” (PSLs). Under this model, an allowance for expected credit losses is recognized at acquisition, offsetting the loan’s amortized cost basis, thereby eliminating the day-one credit‑loss expense previously required for non‑PCD assets. PSLs are defined as non‑PCD loans acquired either (i) through a business combination, or (ii) purchased more than 90 days after origination when the acquirer was not involved in origination. ASU 2025-08 will be effective for us, on a prospective basis for loans acquired on or after the adoption date, for interim and annual reporting periods beginning in 2027, though early adoption is permitted. ASU 2025-08 is not expected to have a significant impact on our financial statements.
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Computation of Basic and Diluted Earnings Per Share The following table shows computation of basic and diluted earnings per share.
Years Ended December 31
(dollar amounts in thousands, except per share)202520242023
Basic earnings per share
Net income (loss)$(150,482)$35,429 $27,981 
Weighted average common shares outstanding46,486,776 43,702,314 43,630,160 
Basic earnings per share$(3.24)$0.81 $0.64 
Diluted earnings per share
Net income (loss) available to common shareholders$(150,482)$35,429 $27,981 
Weighted average common shares outstanding46,486,776 43,702,314 43,630,160 
Effect of dilutive securities:
Restricted stock— 359,704 208,827 
Stock options— 2,472 4,893 
Weighted average common shares outstanding46,486,776 44,064,490 43,843,880 
Diluted Earnings per Share$(3.24)$0.80 $0.64 
v3.25.4
Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Fair Value of Securities
The fair value of securities is as follows:
December 31, 2025
Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available for sale
U.S. Treasury, federal agencies, and government sponsored agencies$16,837 $— 16,837 70 $(2)$16,905 
State and municipal353,559 — 353,559 2,109 (36,003)319,665 
U.S. government agency mortgage-backed securities489,683 — 489,683 4,725 (234)494,174 
Corporate notes48,750 (120)48,630 — (3,960)44,670 
Total available for sale investment securities$908,829 $(120)$908,709 $6,904 $(40,199)$875,414 
December 31, 2025
Amortized
Cost		Allowance for Credit LossesNet Carrying AmountGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Held to maturity
U.S. Treasury, federal agencies, and government sponsored agencies$— $— $— $— $— $— 
State and municipal— — — — — — 
U.S. government agency mortgage-backed securities— — — — — — 
Private labeled mortgage–backed pools— — — — — — 
Corporate notes— — — — — — 
Total held to maturity investment securities$— $— $— $— $— $— 
In August 2025, the Company reclassified its held-to-maturity investment portfolio, with a carrying value of $1.8 billion and unrealized loss of $282.6 million, to the available-for-sale portfolio as part of the Company's balance
sheet repositioning. Following the reclassification, the Company sold securities with a fair value of $1.4 billion, recognizing a pre-tax loss of $299.5 million upon sale.
The fair value of trading securities is as follows:
December 31, 2025December 31, 2024
Held for Trading
U.S. Treasury, federal agencies, and government sponsored agencies$3,883 $— 
State and municipal— — 
U.S. government agency mortgage-backed securities— — 
Corporate notes— — 
Total trading securities$3,883 0$— 
For the year-ended December 31, 2025, the net gains (losses) on trading securities were determined to be immaterial to the consolidated financial statements.
December 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Available for sale
U.S. Treasury, federal agencies, and government sponsored agencies$2,258 $— $(457)$1,801 
State and municipal243,521 — (41,687)201,834 
U.S. government agency mortgage-backed securities17,984 — (3,441)14,543 
Corporate notes18,259 — (2,760)15,499 
Total available for sale investment securities$282,022 $— $(48,345)$233,677 

December 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Held to maturity
U.S. Treasury, federal agencies, and government sponsored agencies$278,383 $— $(39,253)$239,130 
State and municipal1,048,862 958 (183,114)866,706 
U.S. government agency mortgage-backed securities349,726 — (54,904)294,822 
Private labeled mortgage–backed pools29,278 — (3,958)25,320 
Corporate notes161,599 — (21,309)140,290 
Total held to maturity investment securities$1,867,848 $958 $(302,538)$1,566,268 
Less: Allowance for credit losses(158)
Held to maturity securities, net of allowance for credit losses$1,867,690 
Schedule of Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity
December 31, 2025
Amortized
Cost		Fair
Value
Available for sale
Within one year$15,836 $15,773 
One to five years47,706 46,646 
Five to ten years75,422 69,653 
After ten years280,182 249,168 
419,146 381,240 
U.S. government agency mortgage-backed securities489,683 494,174 
Total available for sale investment securities$908,829 $875,414 
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The following tables show the gross unrealized losses and the fair value of the Company’s available for sale investments in which an allowance for credit losses were not recorded, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.
December 31, 2025
Less than 12 Months12 Months or MoreTotal
Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Available for Sale Investment Securities
U.S. Treasury, federal agencies, and government sponsored agencies$— $— $748 $(2)$748 $(2)
State and municipal26,804 (725)200,978 (35,278)227,782 (36,003)
U.S. government agency mortgage-backed securities40,547 (221)200 (13)40,747 (234)
Corporate notes— — 40,799 (2,951)40,799 (2,951)
Total available for sale investment securities$67,351 $(946)$242,725 $(38,244)$310,076 $(39,190)
December 31, 2024
Less than 12 Months12 Months or MoreTotal
Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Available for Sale Investment Securities
U.S. Treasury, federal agencies, and government sponsored agencies$— $— $1,801 $(457)$1,801 $(457)
State and municipal— — 201,834 (41,687)201,834 (41,687)
U.S. government agency mortgage-backed securities— — 14,543 (3,441)14,543 (3,441)
Corporate notes— — 15,499 (2,760)15,499 (2,760)
Total available for sale investment securities$— $— $233,677 $(48,345)$233,677 $(48,345)
Debt Securities, Available-for-Sale, Allowance for Credit Loss
The following table details activity in the allowance for credit losses on available for sale debt securities during the year-ended December 31, 2025 and 2024.
December 31,December 31,
20252024
Beginning balance$— $— 
Allowance for credit losses expense (benefit) - AFS Securities120 — 
Ending balance$120 $— 
Debt Securities, Held-to-Maturity, Credit Quality Indicator
The following table summarizes credit ratings of our held-to-maturity securities at amortized cost for the periods indicated:
December 31, 2025AAAAAABBBBBNot RatedTotal
U.S. Treasury, federal agencies, and government sponsored agencies— — — — — — — 
State and municipal— — — — — — — 
U.S. government agency mortgage-backed securities— — — — — — — 
Private labeled mortgage-backed pools— — — — — — — 
Corporate notes— — — — — — — 
Total— — — — — — — 
December 31, 2024AAAAAABBBBBNot RatedTotal
U.S. Treasury, federal agencies, and government sponsored agencies— 278,383 — — — — 278,383 
State and municipal273,629 698,428 66,079 10,726 — — 1,048,862 
U.S. government agency mortgage-backed securities349,726 — — — — — 349,726 
Private labeled mortgage-backed pools29,278 — — — — — 29,278 
Corporate notes— 6,176 11,549 75,603 4,543 63,728 161,599 
Total652,633 982,987 77,628 86,329 4,543 63,728 1,867,848 
Debt Securities, Held-to-Maturity, Allowance for Credit Loss
The following table details activity in the allowance for credit losses on held-to-maturity securities for the year ended December 31, 2025 and 2024.
December 31, 2025December 31, 2024
Beginning balance$158$157
Credit loss expense (benefit)(158)1
Ending balance$—$158
Schedule of Sales of Securities Available for Sale
Information regarding security proceeds, gross gains and gross losses are presented below.
Year Ended December 31
202520242023
Sales of securities available for sale
Proceeds$1,409,870 $293,138 $439,285 
Gross gains— 6 215 
Gross losses(299,538)(39,145)(32,267)
Fair Value And Amortized Costs Of Pledged Securities The following table represents the fair value and amortized costs of these pledged securities.
December 31, 2025December 31, 2024
Fair ValueAmortized CostFair ValueAmortized Cost
Pledged securities for borrowing availability at the Federal Reserve$114,727 $140,512 $851,384 $1,032,916 
Pledge securities for FHLB borrowings$— $— $279,136 $333,613 
Pledged securities for derivative instruments$— $— $6,234 $6,709 
v3.25.4
Loans (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Schedule of Loan Portfolio Segments and Classes
The table below identifies the Company's loan portfolio segments and classes.
Portfolio SegmentClass of Financing Receivable
CommercialOwner occupied real estate
Non-owner occupied real estate
Residential spec homes
Development & spec land
Commercial and industrial
Residential real estateResidential mortgage
Residential construction
ConsumerDirect installment
Indirect installment
Home equity
Schedule of Loans Outstanding by Portfolio Class
The following table presents total outstanding loans held of investment by portfolio class, as of December 31, 2025 and 2024.
December 31,
2025		December 31,
2024
Commercial
Owner occupied real estate$699,327 $667,165 
Non–owner occupied real estate1,669,260 1,501,456 
Residential spec homes17,741 15,611 
Development & spec land35,535 18,627 
Commercial and industrial1,010,545 875,297 
Total commercial3,432,408 3,078,156 
Real estate
Residential mortgage741,477 783,961 
Residential construction30,950 18,948 
Total real estate772,427 802,909 
Consumer
Direct installment77,174 97,190 
Indirect installment19,672 303,901 
Home equity574,861 564,884 
Total consumer671,707 965,975 
Total loans4,876,542 4,847,040 
Allowance for credit losses(51,299)(51,980)
Net loans$4,825,243 $4,795,060 
Schedule of Non-accrual, Loans Past Due Over 90 Days Still on Accrual, and Troubled Debt Restructured ("TDRs") by Class of Loans
The following table presents non–accrual loans and loans past due over 90 days still on accrual by class of loans at December 31, 2025:
December 31, 2025
Total Non-accrualLoans Past Due Over 90 Days Still AccruingNon-accruing Loans with no Allowance for Credit Losses
Commercial
Owner occupied real estate$5,396 $— $1,599 
Non–owner occupied real estate3,026 — 1,074 
Residential spec homes— — — 
Development & spec land496 — 496 
Commercial and industrial5,631 — 3,951 
Total commercial14,549 — 7,120 
Real estate
Residential mortgage10,087 90 929 
Residential construction— — — 
Total real estate10,087 90 929 
Consumer
Direct installment342 373 — 
Indirect installment1,058 170 — 
Home equity6,421 1,856 — 
Total consumer7,821 2,399 — 
Total$32,457 $2,489 $8,049 
The following table presents non–accrual loans, loans past due over 90 days still on accrual by class of loan at December 31, 2024:
December 31, 2024
Total Non-accrualLoans Past Due Over 90 Days Still AccruingNon-accruing Loans with no Allowance for Credit Losses
Commercial
Owner occupied real estate$2,448 $— $1,419 
Non–owner occupied real estate444 — 444 
Residential spec homes— — — 
Development & spec land534 — 534 
Commercial and industrial2,232 — 1,239 
Total commercial5,658 — 3,636 
Real estate
Residential mortgage11,215 — — 
Residential construction— — — 
Total real estate11,215 — — 
Consumer
Direct installment338 128 — 
Indirect installment1,542 358 — 
Home equity7,039 680 — 
Total consumer8,919 1,166 — 
Total$25,792 $1,166 $3,636 
Schedule of Payment Status by Class of Loan
The following table presents the payment status by class of loan at December 31, 2025:
December 31, 2025
Current30-59 Days
Past Due		60-89 Days
Past Due		90 Days or
Greater
Past Due		Total Past
Due		Total
Loans
Commercial
Owner occupied real estate$694,040 $2,671 $384 $2,232 $5,287 $699,327 
Non–owner occupied real estate1,668,372 490 398 — 888 1,669,260 
Residential spec homes17,741 — — — — 17,741 
Development & spec land35,039 — 496 — 496 35,535 
Commercial and industrial1,002,074 4,606 1,310 2,555 8,471 1,010,545 
Total commercial3,417,266 7,767 2,588 4,787 15,142 3,432,408 
Real estate
Residential mortgage730,784 4 3,221 7,468 10,693 741,477 
Residential construction28,916 — 2,034 — 2,034 30,950 
Total real estate759,700 4 5,255 7,468 12,727 772,427 
Consumer
Direct installment73,671 2,638 343 522 3,503 77,174 
Indirect installment16,390 2,203 478 601 3,282 19,672 
Home equity560,895 5,991 2,321 5,654 13,966 574,861 
Total consumer650,956 10,832 3,142 6,777 20,751 671,707 
Total$4,827,922 $18,603 $10,985 $19,032 $48,620 $4,876,542 
The following table presents the payment status by class of loan at December 31, 2024:
December 31, 2024
Current30-59 Days
Past Due		60-89 Days
Past Due		90 Days or
Greater
Past Due		Total Past
Due		Total
Loans
Commercial
Owner occupied real estate$665,875 $1,195 $— $95 $1,290 $667,165 
Non–owner occupied real estate1,500,229 931 — 296 1,227 $1,501,456 
Residential spec homes15,611 — — — — $15,611 
Development & spec land18,627 — — — — $18,627 
Commercial and industrial872,893 2,155 70 179 2,404 $875,297 
Total commercial3,073,235 4,281 70 570 4,921 3,078,156 
Real estate
Residential mortgage773,214 — 4,163 6,584 10,747 $783,961 
Residential construction18,948 — — — — 18,948 
Total real estate792,162 — 4,163 6,584 10,747 $802,909 
Consumer
Direct installment95,337 1,325 181 347 1,853 $97,190 
Indirect installment298,048 4,179 806 868 5,853 $303,901 
Home equity551,483 7,143 1,537 4,721 13,401 $564,884 
Total consumer944,868 12,647 2,524 5,936 21,107 965,975 
Total$4,810,265 $16,928 $6,757 $13,090 $36,775 $4,847,040 
The following tables summarize the financial impacts of loan modifications and payment deferrals, as applicable, during the year ended December 31, 2025 and 2024, respectively.
December 31, 2025
Weighted Average Term Extension (In Months)Weighted Average Interest Rate Reduction (In Percentage Terms)Weighted Average Payment Delay (In Months)Term Extension (In Months) & Rate Reduction (In Percentage Terms)
Commercial
Owner occupied real estate17— %6
Weighted average term extension of 12 months & Weighted average interest rate reduction of 1.50%
Non-owner occupied real estate12— 00
Development & spec land12— 00
Commercial and industrial17— 5
Weighted average term extension of 30 months & Weighted average interest rate reduction of 1.73%
December 31, 2024
Weighted Average Term Extension (In Months)Weighted Average Interest Rate Reduction (Int Percentage Terms)Weighted Average Payment Delay (In Months)Term Extension
(In Months) &
Rate Reduction
(In Percentage Terms)
Commercial
Owner occupied real estate6— %5
Weighted average term extension of 60 months
Weighted average interest rate reduction of 1.04%
Commercial and industrial29— 6
Weighted average term extension of 21 months
Weighted average interest rate reduction of 2.25%
Financing Receivable, Modified
The following tables detail the amortized cost as of December 31, 2025 and 2024, respectively, of loans that were modified to borrowers experiencing financial difficulty during the year ended:
December 31, 2025
Term ExtensionInterest Rate ReductionOther-Than-Insignificant Payment DelayTerm Extension and Interest Rate Reduction
Multiple1
Total% of Loans Held for Investment
Commercial
Owner occupied real estate$550 $— $5,242 $1,952 $— $7,744 0.16 %
Non-owner occupied real estate398 — — — — 398 0.01 %
Development spec & land496 — — — — 496 0.01 %
Commercial and industrial3,383 — 598 1,952 — 5,933 0.12 %
Total$4,827 $— $5,840 $3,904 $— $14,571 0.30 %
1 Multiple modifications represents modifications to borrowers in the form of term extensions and other-than-insignificant payment deferrals.
December 31, 2024
Term ExtensionInterest Rate ReductionOther-Than-Insignificant Payment DelayTerm Extension and Interest Rate Reduction
Multiple1
Total% of Loans Held for Investment
Commercial
Owner occupied real estate$2,038 $— $651 $2,418 $— $5,107 0.77 %
Non-owner occupied real estate— — — — — — — %
Development spec & land— — — — — — — %
Commercial and industrial3,448 — 740 236 — 4,424 0.51 %
Total$5,486 $— $1,391 $2,654 $— $9,531 0.20 %
1 Multiple modifications represents modifications to borrowers in the form of term extensions and other-than-insignificant payment deferrals.
Schedule of Modified Loans, Past Due
The following table presents the amortized cost basis at December 31, 2025 of loans to borrowers experiencing financial difficulty that had been modified within the previous 12 months:

December 31, 2025
Current30-89 Days Past Due90 Days Past DueTotal
Commercial
Owner occupied real estate$3,711 $1,845 $2,188 $7,744 
Non-owner occupied real estate— 398 — 398
Development & spec land— $496 — 496 
Commercial and industrial5,238 253 442 5,933
Total$8,949 $2,992 $2,630 $14,571




The following table presents the amortized cost basis at December 31, 2024 of loans to borrowers experiencing financial difficulty that had been modified within the previous 12 months:
December 31, 2024
Current30-89 Days Past Due90 Days Past DueTotal
Commercial
Owner occupied real estate$5,107 $— $— $5,107 
Non-owner occupied real estate— — — — 
Commercial and industrial4,424 — — 4,424 
Total$9,531 $— $— $9,531 
Schedule of Allowance for Credit Loss Allocated for Collateral Dependent Loans
The tables below present the amortized cost basis and allowance for credit losses (“ACL”) allocated for collateral dependent loans in accordance with ASC 326, which are individually evaluated to determine expected credit losses, at December 31, 2025 and 2024.
December 31, 2025
Real EstateAccounts
Receivable/
Equipment		OtherTotalACL
Allocation
Commercial
Owner occupied real estate$5,395 $— $— $5,395 $114 
Non–owner occupied real estate3,026 — — 3,026 20 
Residential spec homes— — — — — 
Development & spec land496 — — 496 — 
Commercial and industrial1,690 3,269 673 5,632 882 
Total commercial10,607 3,269 673 14,549 1,016 
Real Estate
Residential Mortgage929 — — 929 — 
Total Real Estate929 — — 929 — 
Consumer
Home equity923 — — 923 313 
Total consumer923 — — 923 313 
Total collateral dependent loans$12,459 $3,269 $673 $16,401 $1,329 
December 31, 2024
Real EstateAccounts
Receivable/
Equipment		OtherTotalACL
Allocation
Commercial
Owner occupied real estate$2,448 $— $— $2,448 $224 
Non–owner occupied real estate444 — — 444 — 
Residential spec homes— — — — — 
Development & spec land534 — — 534 — 
Commercial and industrial1,756 476 — 2,232 731 
Total commercial5,182 476 — 5,658 955 
Total collateral dependent loans$5,182 $476 $— $5,658 $955 
Schedule of Loans by Credit Grades
The following tables present loans by credit grades and origination year at December 31, 2025.
Term Loans by Origination Year
December 31, 202520252024202320222021PriorRevolving Term LoansRevolving
Loans		Total
Commercial
Owner occupied real estate
Pass$103,721 $90,288 $83,508 $75,503 $61,816 $167,595 $69,454 $14,592 $666,477 
Special Mention900 5,013 — — 1,375 6,258 2,343 — 15,889 
Substandard— 3,706 9,421 1,674 — 2,110 — 50 16,961 
Doubtful— — — — — — — — — 
Total owner occupied real estate$104,621 $99,007 $92,929 $77,177 $63,191 $175,963 $71,797 $14,642 $699,327 
Gross charge-offs during period$316 $502 $— $50 $— $49 $36 $— $953 
Non–owner occupied real estate
Pass$195,568 $192,570 $152,602 $230,638 $133,516 $400,187 $306,632 $14,609 $1,626,322 
Special Mention490 — 1,304 28,267 — 5,771 — — 35,832 
Substandard— 2,163 3,686 609 — 580 68 — 7,106 
Doubtful— — — — — — — — — 
Total non–owner occupied real estate$196,058 $194,733 $157,592 $259,514 $133,516 $406,538 $306,700 $14,609 $1,669,260 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Residential spec homes
Pass$4,896 $294 $— $— $— $— $5,329 $7,222 $17,741 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total residential spec homes$4,896 $294 $— $— $— $— $5,329 $7,222 $17,741 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Development & spec land
Pass$3,892 $816 $3,096 $746 $1,021 $1,813 $22,669 $986 $35,039 
Special Mention— — — — — — — — — 
Substandard— — — — — — 496 — 496 
Doubtful— — — — — — — — — 
Total development & spec land$3,892 $816 $3,096 $746 $1,021 $1,813 $23,165 $986 $35,535 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Commercial and industrial
Pass$273,848 $193,508 $74,420 $102,213 $53,264 $52,660 $48,648 $172,692 $971,253 
Special Mention1,229 690 781 547 33 300 10,386 10,921 24,887 
Substandard2,027 2,073 6,490 82 32 1,578 1,001 1,122 14,405 
Doubtful— — — — — — — — — 
Total commercial and industrial$277,104 $196,271 $81,691 $102,842 $53,329 $54,538 $60,035 $184,735 $1,010,545 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Term Loans by Origination Year
December 31, 202520252024202320222021PriorRevolving Term LoansRevolving
Loans		Total
Real estate
Residential mortgage
Performing$58,110 $76,445 $104,783 $143,616 $126,636 $221,710 $— $— $731,300 
Non–performing— 505 2,428 2,236 453 4,555 — — 10,177 
Total residential mortgage$58,110 $76,950 $107,211 $145,852 $127,089 $226,265 $— $— $741,477 
Gross charge-offs during period$— $135 $223 $188 $355 $161 $— $— $1,062 
Residential construction
Performing$— $2,034 $— $— $— $— $28,916 $— $30,950 
Non–performing— — — — — — — — — 
Total residential construction$— $2,034 $— $— $— $— $28,916 $— $30,950 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Term Loans by Origination Year
December 31, 202520252024202320222021PriorRevolving Term LoansRevolving
Loans		Total
Consumer
Direct installment
Performing$8,330 $6,354 $47,094 $5,160 $3,160 $4,942 $84 $1,335 $76,459 
Non–performing— — 578 69 40 28 — — 715 
Total direct installment$8,330 $6,354 $47,672 $5,229 $3,200 $4,970 $84 $1,335 $77,174 
Gross charge-offs during period$11 $141 $85 $73 $84 $5 $8 $— $407 
Indirect installment
Performing$— $220 $3,584 $9,469 $3,269 $1,902 $— $— $18,444 
Non–performing— 29 275 570 232 122 — — 1,228 
Total indirect installment$— $249 $3,859 $10,039 $3,501 $2,024 $— $— $19,672 
Gross charge-offs during period$— $245 $885 $1,414 $477 $237 $— $— $3,258 
Home equity
Performing$12,301 $10,393 $16,623 $12,032 $4,444 $7,546 $32,721 $470,524 $566,584 
Non–performing— 236 614 653 53 173 6,548 — 8,277 
Total home equity$12,301 $10,629 $17,237 $12,685 $4,497 $7,719 $39,269 $470,524 $574,861 
Gross charge-offs during period$— $— $20 $7 $— $57 $843 $— $927 
The following table presents loans by credit grades and origination year at December 31, 2024.
Term Loans by Origination year
December 31, 202420242023202220212020PriorRevolving Term LoansRevolving
Loans		Total
Commercial
Owner occupied real estate
Pass$75,649 $74,305 $90,872 $68,978 $36,778 $178,936 $92,227 $12,365 $630,110 
Special Mention129 — 1,724 1,769 142 8,759 — 100 12,623 
Substandard2,970 8,761 1,051 6,307 — 4,843 — 500 24,432 
Doubtful— — — — — — — — — 
Total owner occupied real estate$78,748 $83,066 $93,647 $77,054 $36,920 $192,538 $92,227 $12,965 $667,165 
Gross charge-offs during period$— $— $— $— $— $1 $— $— $1 
Non–owner occupied real estate
Pass$194,167 $115,378 $244,266 $133,689 $100,688 $344,558 $298,288 $11,726 $1,442,760 
Special Mention— 4,211 16,409 1,249 — 31,083 — — 52,952 
Substandard83 297 — — — 5,364 — — 5,744 
Doubtful— — — — — — — — — 
Total non–owner occupied real estate$194,250 $119,886 $260,675 $134,938 $100,688 $381,005 $298,288 $11,726 $1,501,456 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Residential spec homes
Pass$362 $— $— $420 $— $— $10,986 $3,843 $15,611 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total residential spec homes$362 $— $— $420 $— $— $10,986 $3,843 $15,611 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Development & spec land
Pass$819 $4,139 $788 $1,133 $328 $2,039 $7,931 $599 $17,776 
Special Mention— — — — — 317 — — 317 
Substandard— — — — — — 534 — 534 
Doubtful— — — — — — — — — 
Total development & spec land$819 $4,139 $788 $1,133 $328 $2,356 $8,465 $599 $18,627 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Commercial and industrial
Pass$242,562 $105,877 $128,707 $73,008 $6,954 $54,764 $48,313 $179,370 $839,555 
Special Mention1,246 324 1,245 28 1 1,573 9,519 9,281 23,217 
Substandard843 2,599 318 217 266 3,170 1,003 4,109 12,525 
Doubtful— — — — — — — — — 
Total commercial and industrial$244,651 $108,800 $130,270 $73,253 $7,221 $59,507 $58,835 $192,760 $875,297 
Gross charge-offs during period$— $— $— $— $— $45 $108 $— $153 
Term Loans by Origination Year
December 31, 202420242023202220212020PriorRevolving Term LoansRevolving
Loans		Total
Real estate
Residential mortgage
Performing$69,264 $145,927 $160,780 $140,310 $78,563 $177,902 $— $— $772,746 
Non–performing201 1,619 2,125 1,472 706 5,092 — — 11,215 
Total residential mortgage$69,465 $147,546 $162,905 $141,782 $79,269 $182,994 $— $— $783,961 
Gross charge-offs during period$— $— $— $— $— $5 $— $— $5 
Residential construction
Performing$— $— $— $— $— $— $18,948 $— $18,948 
Non–performing— — — — — — — — — 
Total residential construction$— $— $— $— $— $— $18,948 $— $18,948 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Term Loans by Origination Year
December 31, 202420242023202220212020PriorRevolving Term LoansRevolving
Loans		Total
Consumer
Direct installment
Performing$11,306 $59,850 $9,510 $5,398 $2,679 $6,003 $60 $1,918 $96,724 
Non–performing1 374 46 19 — 26 — — 466 
Total direct installment$11,307 $60,224 $9,556 $5,417 $2,679 $6,029 $60 $1,918 $97,190 
Gross charge-offs during period$72 $93 $169 $1 $35 $78 $9 $— $457 
Indirect installment
Performing$26,839 $70,143 $130,610 $49,458 $17,647 $7,304 $— $— $302,001 
Non–performing— 425 800 304 242 129 — — 1,900 
Total indirect installment$26,839 $70,568 $131,410 $49,762 $17,889 $7,433 $— $— $303,901 
Gross charge-offs during period$161 $449 $1,345 $527 $188 $99 $— $— $2,769 
Home equity
Performing$13,552 $21,845 $16,136 $5,110 $1,902 $9,210 $18,657 $470,753 $557,165 
Non–performing— 421 426 — 30 296 6,465 81 7,719 
Total home equity$13,552 $22,266 $16,562 $5,110 $1,932 $9,506 $25,122 $470,834 $564,884 
Gross charge-offs during period$— $23 $52 $88 $— $39 $110 $11 $323 
v3.25.4
Allowance for Credit and Loan Losses (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Schedule of Allowance for Credit Losses
The following table represents, by loan portfolio segment, a summary of changes in the ACL on loans for the twelve months ended December 31, 2025, 2024 and 2023.

Twelve Months Ended December 31, 2025
CommercialReal EstateMortgage WarehouseConsumerTotal
Balance, beginning of period$30,953 $2,715 $— $18,312 $51,980 
Credit loss expense (recovery)5,286 468 — (3,511)2,243 
Charge-offs(953)(1,062)— (4,592)(6,607)
Recoveries187 1,062 — 2,434 3,683 
Balance, end of period$35,473 $3,183 $— $12,643 $51,299 

Twelve Months Ended December 31, 2024
CommercialReal EstateMortgage WarehouseConsumerTotal
Balance, beginning of period$29,736 $2,503 $481 $17,309 $50,029 
Provision for credit losses on loans1,018 184 (481)3,133 3,854 
Charge-offs(154)(5)— (3,549)(3,708)
Recoveries353 33 — 1,419 1,805 
Balance, end of period$30,953 $2,715 $— $18,312 $51,980 

Twelve Months Ended December 31, 2023
CommercialReal EstateMortgage WarehouseConsumerTotal
Balance, beginning of period$32,445 $5,577 $1,020 $11,422 $50,464 
Provision for credit losses on loans(1,765)(3,107)(539)7,501 2,090 
Charge-offs(1,403)(48)— (2,835)(4,286)
Recoveries459 81 — 1,221 1,761 
Balance, end of period$29,736 $2,503 $481 $17,309 $50,029 
Schedule of Fair Value, off-Balance-Sheet Risks
The following tables represent, by loan portfolio segment, a summary of changes in the activity in the liability for commitments to extend credit and standby letters of credit (See Note 18):
December 31, 2025
December 31, 2024
December 31, 2023
Balance, beginning of periodCredit loss expense (reversal)Ending balanceBalance, beginning of periodCredit loss expense (reversal)Ending balanceBalance, beginning of periodCredit loss expense (reversal)Ending balance
Commercial$1,385 $(317)$1,068 $— $1,385 $1,385 $— $— $— 
Real Estate61 31 92 64 (3)61 161 (97)64 
Mortgage Warehouse— — — — — — — — — 
Consumer703 (23)680 551 152 703 242 309 551 
Total$2,149 $(309)$1,840 $615 $1,534 $2,149 $403 $212 $615 
The following table represents the commitments to extend credit and standby letters of credit as of December 31, 2025 and December 31, 2024, respectively:
December 31, 2025December 31, 2024
Commitments to extend credit$1,124,850 $1,018,302 
Commitments under outstanding standby letters of credit$22,274 $23,457 
Total$1,147,124 $1,041,759 
v3.25.4
Premises and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Premises and Equipment
December 31
2025		December 31
2024
Land$31,106 $31,310 
Buildings and improvements93,806 91,911 
Furniture and equipment43,825 40,655 
Total cost168,737 163,876 
Accumulated depreciation(75,932)(70,012)
Net premises and equipment$92,805 $93,864 
v3.25.4
Loan Servicing (Tables)
 12 Months Ended
Dec. 31, 2025
Payments for (Proceeds from) Mortgage Servicing Rights [Abstract]  
Schedule of Originated Mortgage Servicing Rights
Activity for mortgage servicing rights and the related impairment allowance were as follows:


December 31
2025		December 31
2024		December 31
2023
Mortgage servicing rights
Balances, January 1$18,195 $18,807 $18,619 
Servicing rights capitalized1,434 1,359 1,220 
Amortization of servicing rights(2,095)(1,971)(1,032)
Balances, December 3117,534 18,195 18,807 
Impairment allowance
Beginning balance— — — 
Additions— — — 
Reductions— — — 
Balances, December 31— — — 
Mortgage servicing rights, net$17,534 $18,195 $18,807 
Fair value, beginning of period$19,766 $19,891 $19,992 
Fair value, end of period$17,547 $19,766 $19,891 
v3.25.4
Goodwill (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets Amortizable intangible assets are summarized as follows:
December 31, 2025December 31, 2024
Gross Carrying
Amount		Accumulated
Amortization		Gross Carrying
Amount		Accumulated
Amortization
Amortizable intangible assets
Core deposit intangible$33,633 $(26,453)$33,633 $(23,410)
Schedule of Estimated Amortization Estimated amortization for the years ending December 31 is as follows:
YearAmount
2026$2,566 
20272,119 
20281,754 
2029512 
2030136 
Thereafter92 
$7,179 
v3.25.4
Deposits (Tables)
 12 Months Ended
Dec. 31, 2025
Statistical Disclosure for Banks [Abstract]  
Schedule of Deposits
December 31
2025		December 31
2024
Non interest-bearing demand deposits$1,078,708 $1,064,818 
Interest-bearing deposits:
Interest-bearing demand deposits1,639,857 1,767,984 
Money market 831,631 960,008 
Savings deposits622,743 718,689 
Certificates of deposit of $250,000 or more562,638 549,361 
Certificates of deposit of less than $250,000539,840 539,792 
Total interest-bearing deposits$4,196,709 $4,535,834 
Total deposits$5,275,417 $5,600,652 
Schedule of Certificates and Other Time Deposits for Both Retail and Brokered
Certificates and other time deposits for both retail and brokered maturing in years ending December 31 are as follows:
RetailBrokeredTotal
2026$820,434 $90,033 $910,467 
202712,216 65,000 77,216 
20284,306 80,000 84,306 
20293,794 — 3,794 
20301,695 25,000 26,695 
Thereafter— — — 
$842,445 $260,033 $1,102,478 
v3.25.4
Repurchase Agreements (Tables)
 12 Months Ended
Dec. 31, 2025
Disclosure of Repurchase Agreements [Abstract]  
Schedule of Repurchase Agreements Accounted as Secured Borrowings
The following tables show repurchase agreements accounted for as secured borrowings and the related securities, at fair value, pledged for repurchase agreements:

December 31, 2025
Remaining Contractual Maturity of the Agreements
Overnight
and
Continuous		Up to 30 Days30-90 DaysGreater Than 90 DaysTotal
Repurchase Agreements and repurchase-to-maturity transactions
U.S. government agency mortgage-backed securities$88,468 $— $— $— $88,468 
Total Repurchase Agreements$88,468 $— $— $— $88,468 
Repurchase Agreements subject to offsetting arrangements$— 
December 31, 2024
Remaining Contractual Maturity of the Agreements
Overnight
and
Continuous		Up to 30 Days30-90 DaysGreater Than 90 DaysTotal
Repurchase Agreements and repurchase-to-maturity transactions
U.S. Treasury federal agencies$34,191 $— $— $— $34,191 
U.S. government agency mortgage-backed securities$55,721 $— $— $— $55,721 
Total Repurchase Agreements$89,912 $— $— $— $89,912 
Repurchase Agreements subject to offsetting arrangements— 
v3.25.4
Borrowings (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Borrowings
December 31
2025		December 31
2024
Federal Home Loan Bank advances, variable and fixed rates ranging from 2.63% to 3.78%, due at various dates through April 7, 2027
$150,075 $1,130,148 
Securities sold under agreements to repurchase, fixed rates ranging from 0.01% to 3.33%, due overnight and continuous
88,468 89,912 
Federal funds purchased169 — 
Secured borrowings, fixed rates ranging from 3.75% to 9.00%, due at various dates through March 28, 2043
9,874 12,192 
Total borrowings$248,586 $1,232,252 
Schedule of Contractual Maturities
Contractual maturities in years ending December 31 are as follows:
YearAmount
202691,506 
2027150,066 
2028— 
20296,148 
Thereafter866 
$248,586 
v3.25.4
Income Tax (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Income tax expense (benefit) was as follows:
December 31
2025		December 31
2024		December 31
2023
Income tax expense (benefit)
Currently payable
Federal$21,195 $8,558 $14,980 
State13,606 363 (640)
Deferred
Federal(72,848)(15,528)(3,393)
State(12,624)(1,472)71 
Total income tax expense (benefit)$(50,671)$(8,079)$11,018 
Schedule of Reconciliation of Income Taxes
A reconciliation between reported income tax expense and the amounts computed by applying the U.S. federal statutory income tax rate of 21% to income before income taxes is presented in the following table. There were no activities or transactions that had foreign income taxes or cross-border tax effects during the reported periods. State income/franchise taxes are primarily related to the State of Indiana, while amounts related to other jurisdictions were not significant, in the aggregate, during the reported periods.
202520242023
Reconciliation of federal statutory to actual tax expense (benefit)AmountPercentAmountPercentAmountPercent
Tax expense (benefit) calculated at the statutory federal income tax rate$(42,242)21 %$5,743 21 %$8,190 21 %
State and local income tax, net of federal income tax effect (a)(1,844)1 %(1,185)(4)%142 — %
Tax credit investments, net of amortization(1,105)1 %(1,290)(5)%(2,976)(8)%
Income not subject to tax
     Tax Exempt Interest(5,277)3 %(6,427)(24)%(6,777)(17)%
     Tax exempt BOLI income(417)— %(273)(1)%(779)(2)%
Nondeductible Expenses227 — %404 1 %628 2 %
Other, net(13)— %150 1 %(459)(1)%
Revaluation of deferred tax assets— — %(5,201)(19)%5,201 13 %
BOLI redemption ordinary income— — %— — %5,316 14 %
BOLI redemption excise— — %— — %2,532 7 %
Actual tax expense (benefit)$(50,671)25.2 %$(8,079)(29.5)%$11,018 28.2 %
(a) State taxes in Indiana make up the majority (greater than 50 percent) of the tax effect in this category
Schedule of Reconciliation of Deferred Tax Assets & Liabilities
December 31
2025		December 31
2024
Assets
Allowance for credit losses$12,578 $12,590 
Net operating loss and tax credits461 10,805 
Director and employee benefits5,342 3,334 
Unrealized loss on AFS securities and fair value hedge20,482 29,355 
Net capitalized expenses96,561 — 
Basis in partnership equity investments2,649 1,940 
Fair value adjustment on acquisitions789 883 
Other2,613 2,938 
Total assets141,475 61,845 
Liabilities
Depreciation(4,213)(4,061)
Federal Home Loan Bank stock dividends(297)(353)
Difference in basis of intangible assets(5,821)(6,553)
Other(1,291)(1,003)
Total liabilities(11,622)(11,970)
Valuation allowance— — 
Net deferred tax asset/(liability)$129,853 $49,875 
Schedule of Cash Flow, Supplemental Disclosures
Cash paid for income taxes was as follows:
December 31
2025		December 31
2024		December 31
2023
Cash paid for income taxes
Federal$10,536 $10,710 $2,137 
State
Indiana15,869 — — 
All others1,002 — — 
Total$27,407 $10,710 $2,137 
v3.25.4
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Components of Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss, net of tax included in capital are as follows:
December 31
2025		December 31
2024
Unrealized gain (loss) on securities available for sale$(25,996)$(38,193)
Unamortized gain (loss) on securities held to maturity, previously transferred from AFS— 1,892 
Total accumulated other comprehensive income (loss)$(25,996)$(36,301)
v3.25.4
Off-Balance Sheet Arrangements, Commitments, and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Fair Value, off-Balance-Sheet Risks
The following tables represent, by loan portfolio segment, a summary of changes in the activity in the liability for commitments to extend credit and standby letters of credit (See Note 18):
December 31, 2025
December 31, 2024
December 31, 2023
Balance, beginning of periodCredit loss expense (reversal)Ending balanceBalance, beginning of periodCredit loss expense (reversal)Ending balanceBalance, beginning of periodCredit loss expense (reversal)Ending balance
Commercial$1,385 $(317)$1,068 $— $1,385 $1,385 $— $— $— 
Real Estate61 31 92 64 (3)61 161 (97)64 
Mortgage Warehouse— — — — — — — — — 
Consumer703 (23)680 551 152 703 242 309 551 
Total$2,149 $(309)$1,840 $615 $1,534 $2,149 $403 $212 $615 
The following table represents the commitments to extend credit and standby letters of credit as of December 31, 2025 and December 31, 2024, respectively:
December 31, 2025December 31, 2024
Commitments to extend credit$1,124,850 $1,018,302 
Commitments under outstanding standby letters of credit$22,274 $23,457 
Total$1,147,124 $1,041,759 
v3.25.4
Regulatory Capital (Tables)
 12 Months Ended
Dec. 31, 2025
Regulatory Capital Requirements under Banking Regulations [Abstract]  
Schedule of Regulatory Capital Requirement
The following table presents Horizon and the Bank’s actual and required capital ratios as of December 31, 2025 and December 31, 2024:
Actual
Required for Capital
Adequacy Purposes(1)
Required For Capital
Adequacy Purposes
with Capital Buffer(1)
Well Capitalized Under
Prompt
Corrective Action
Provisions(1)
AmountRatioAmountRatioAmountRatioAmountRatio
December 31, 2025
Total capital (to risk-weighted assets)(1)
Consolidated$762,541 14.36 %$424,791 8.00 %$557,538 10.50 %N/AN/A
Bank687,316 12.99 %423,209 8.00 %555,461 10.50 %$529,011 10.00 %
Tier 1 capital (to risk-weighted assets)(1)
Consolidated611,186 11.51 %318,593 6.00 %451,340 8.50 %N/AN/A
Bank634,176 11.99 %317,407 6.00 %449,659 8.50 %423,209 8.00 %
Common equity tier 1 capital (to risk-weighted assets)(1)
Consolidated553,498 10.42 %238,945 4.50 %371,692 7.00 %N/AN/A
Bank634,176 11.99 %238,055 4.50 %370,308 7.00 %343,857 6.50 %
Tier 1 capital (to average assets)(1)
Consolidated611,186 9.55 %256,006 4.00 %256,006 4.00 %N/AN/A
Bank634,176 9.94 %255,282 4.00 %255,282 4.00 %319,103 5.00 %
Actual
Required for Capital
Adequacy Purposes(1)
Required For Capital
Adequacy Purposes
with Capital Buffer(1)
Well Capitalized Under
Prompt
Corrective Action
Provisions(1)
AmountRatioAmountRatioAmountRatioAmountRatio
December 31, 2024
Total capital (to risk-weighted assets)(1)
Consolidated $800,209 13.91 %$460,266 8.00 %$604,099 10.50 %N/AN/A
Bank725,383 12.64 %459,039 8.00 %602,489 10.50 %$573,799 10.00 %
Tier 1 capital (to risk-weighted assets)(1)
Consolidated 690,183 12.00 %345,199 6.00 %489,033 8.50 %N/AN/A
Bank671,095 11.70 %344,279 6.00 %487,729 8.50 %$459,039 8.00 %
Common equity tier 1 capital (to risk-weighted assets)(1)
Consolidated632,760 11.11 %258,900 4.50 %402,733 7.00 %N/AN/A
Bank671,095 11.70 %258,209 4.50 %401,659 7.00 %$372,969 6.50 %
Tier 1 capital (to average assets)(1)
Consolidated690,183 8.88 %310,825 4.00 %310,825 4.00 %N/AN/A
Bank671,095 8.64 %310,539 4.00 %310,539 4.00 %$388,174 5.00 %
(1)As defined by regulatory agencies
v3.25.4
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Option Activity under 2013 Plan
A summary of option activity under the 2013 Plan as of December 31, 2025, and changes during the year then ended, is presented below:
SharesWeighted-
Average
Exercise Price		Weighted-
Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
Outstanding, beginning of year94,798 $16.87 2.84 years$56,985 
Granted— — — 
Exercised(7,695)10.38 126,429 
Forfeited(1,500)16.76 — 
Expired— — — 
Outstanding, end of year85,603 $17.46 2.00 years$14,805 
Exercisable, end of year85,603 $17.46 2.00 years14,805 
Schedule of Status of Non-vested, Restricted and Performance Shares
A summary of the status of Horizon’s non–vested restricted and performance shares under the 2021 Plan as of December 31, 2025 are presented below:
SharesWeighted
Average
Grant Date
Fair Value
Non-vested, beginning of year718,197 $13.73 
Vested(374,108)14.74 
Granted146,436 15.76 
Forfeited(34,021)20.03 
Non-vested, end of year456,504 13.08 
v3.25.4
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Financial Instruments
The following tables summarize the fair value of our derivative financial instruments utilized by the Company on a gross basis for the periods indicated.
Asset DerivativesLiability Derivatives
December 31, 2025December 31, 2025
Notional
Amount		Fair
Value		Notional
Amount		Fair
Value
Derivatives designated as hedging instruments
Interest rate contracts - fair value hedges$121,542 $307 $— 
Total derivatives designated as hedging instruments121,542 307 — 
Derivatives not designated as hedging instruments
Interest rate contracts -customer accommodation460,276 13,658 460,276 13,658 
Mortgage loan contracts— — 11,254 14 
Commitments to originate mortgage loans3,644 94 — — 
Total derivatives not designated as hedging instruments463,920 13,752 471,530 13,672 
Total derivatives585,462 14,059 471,530 13,672 
Total derivatives subject to enforceable master netting arrangements, gross585,462 14,059 471,530 13,672 
Less: Gross amounts offset— — — — 
Total derivatives subject to enforceable master netting arrangements, net$585,462 $14,059 $471,530 $13,672 
Asset DerivativesLiability Derivatives
December 31, 2024December 31, 2024
Notional
Amount		Fair
Value		Notional
Amount		Fair
Value
Derivatives designated as hedging instruments
Interest rate contracts - fair value hedges$— $— $— $— 
Total derivatives designated as hedging instruments— — — — 
Derivatives not designated as hedging instruments
Interest rate contracts - customer accommodation521,520 28,817 521,520 28,817 
Mortgage loan contracts6,155 27 — — 
Commitments to originate mortgage loans6,856 202 — — 
Total derivatives not designated as hedging instruments534,531 29,046 521,520 28,817 
Total derivatives534,531 29,046 521,520 28,817 
Total derivatives subject to enforceable master netting arrangements, gross534,531 29,046 521,520 28,817 
Less: Gross amounts offset— — — — 
Total derivatives subject to enforceable master netting arrangements, net$534,531 $29,046 $521,520 $28,817 
Schedule of Effect of Derivative Instruments on Consolidated Statement of Income Derivative in Fair Value Hedging Relationship
The effect of the derivative and the hedged item in fair value hedging relationships on the consolidated statements of income for the year-ended December 31 is as follows:
Location of gain
(loss)
recognized on derivative and Hedge item		Amount of Gain (Loss) Recognized on Derivative and Hedged Item Years Ended December 31
202520242023
Derivatives designated as hedging instruments
Interest rate contracts - fair value hedgeInterest income - loans receivable$— $1,166 $1,169 
Hedged item— (1,166)(1,169)
Interest rate contracts - fair value hedgeInterest income - investment securities332 (220)240 
Hedged item(307)220 (240)
Total$25 $— $— 
The effect of derivatives not designated as hedging instruments on the consolidated statements of income for the year-ended December 31 is as follows:
Location of gain
(loss)
recognized on derivative		Amount of Gain (Loss) Recognized on Derivative Years Ended December 31
202520242023
Derivative not designated as hedging relationship
Mortgage loan contractsNon-interest income-gain (loss) on sale of loans$(42)$68 $83 
Commitments to originate mortgage loansNon-interest income-gain (loss) on sale of loans(108)(67)(159)
Total$(150)$1 $(76)
Schedule of Derivative Instruments
The following tables summarize the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships.

Amortized Cost of Hedged ItemsCumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Items
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Available for Sale Debt Securities$122,442 $— $(307)$— 
v3.25.4
Disclosures about Fair Value of Assets and Liabilities (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Measurements of Assets and Liabilities Recognized on a Recurring Basis
The following table presents the fair value measurements of assets and liabilities recognized in the accompanying financial statements measured at fair value on a recurring basis and the level within the FASB ASC fair value hierarchy in which the fair value measurements fall at the following:
December 31, 2025
Carrying AmountQuoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets:
Available for sale securities
U.S. Treasury and federal agencies16,905 — 16,905 — 
State and municipal319,665 — 319,665 — 
U.S. government agency mortgage-backed securities494,174 — 494,174 — 
Corporate notes44,670 — 40,799 3,871 
Total available for sale securities875,414 — 871,543 3,871 
Equity securities in other assets7,871 7,871 — — 
Held for trading securities3,883 — 3,883 — 
Interest rate swap agreements asset13,965 — 13,965 — 
Commitments to originate mortgage loans94 — 94 — 
Liabilities
Mortgage loans contracts(14)— (14)— 
Interest rate swap agreements liability(13,658)— (13,658)— 
December 31, 2024
Carrying AmountQuoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets:
Available for sale securities
U.S. Treasury and federal agencies$1,801 $— $1,801 $— 
State and municipal201,834 — 201,834 — 
U.S. government agency mortgage-backed securities14,543 — 14,543 — 
Corporate notes15,499 — 15,499 — 
Total available for sale securities233,677 — 233,677 — 
Equity securities595 595 — — 
Interest rate swap agreements asset28,817 — 28,817 — 
Commitments to originate mortgage loans202 — 202 — 
Mortgage loan contracts27 — 27 — 
Liabilities:
Interest rate swap agreements liability(28,817)— (28,817)— 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation These valuation inputs primarily relate to expected cash flow timing, credit assumptions, and the discount rate applied to those cash flows:
Year Ended December 31
Level 3 instruments at fair value 2025
Fair value beginning of year — 
Transfers into Level 3 (at fair value on transfer date)$2,787 
Total gains/losses included in earnings (subsequent ACL change - AFS securities)30 
Total gains/losses included in OCI1,054 
Ending balance – December 31, 2025$3,871 
Schedule of Other Assets Measured at Fair Value on Nonrecurring Basis
Certain other assets are measured at fair value on a non-recurring basis in the ordinary course of business and are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment):
Carrying AmountQuoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
December 31, 2025
Collateral dependent loans$7,429 $— $— $7,429 
December 31, 2024
Collateral dependent loans$3,797 $— $— $3,797 
Schedule of Qualitative Information About Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements, Other than Goodwill
The following table presents qualitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements, other than goodwill, at December 31, 2025 and 2024.
December 31, 2025
Carrying AmountValuation
Technique		Unobservable
Inputs		Range
(Weighted Average)
Collateral dependent loans$7,429 Collateral based measurementDiscount to reflect current market conditions and ultimate collectability
34.2%–67.4% (30.6%)
December 31, 2024
Carrying AmountValuation
Technique		Unobservable
Inputs		Range
(Weighted Average)
Collateral dependent loans$3,797 Collateral based measurementDiscount to reflect current market conditions and ultimate collectability
16.1%–40.1% (36.6%)
v3.25.4
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Estimated Fair Values of Financial Instruments
The following tables present estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall.
December 31, 2025
Carrying
Amount		Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets
Cash and due from banks$66,813 $66,813 $— $— 
Interest- bearing deposits in banks72,646 72,646 — — 
Federal funds sold— — — — 
Cash and cash equivalents139,459 139,459 — — 
Interest earning time deposits— — — — 
Investment securities, held to maturity— — — — 
Loans held for sale9,778 — 9,778 — 
Loans, net4,825,243 — — 4,695,231 
Stock in FHLB45,713 — 45,713 — 
Interest receivable29,733 — 29,733 — 
Liabilities
Non-interest bearing deposits$1,078,708 $1,078,708 $— $— 
Interest bearing deposits4,196,709 3,094,231 1,100,237 — 
Borrowings248,586 — 248,580 — 
Subordinated notes98,215 — 98,835 — 
Junior subordinated debentures issued to capital trusts57,688 — 51,468 — 
Interest payable12,892 — 12,892 — 
December 31, 2024
Carrying
Amount		Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets
Cash and due from banks$92,300 $92,300 $— $— 
Interest-earning deposits201,131 201,131 — — 
Federal funds sold— — — — 
Cash and cash equivalents293,431 293,431 — — 
Interest earnings time deposits735 — 735 — 
Investment securities, held to maturity1,867,690 — 1,566,268 — 
Loans held for sale67,597 — 64,824 2,773 
Loans (excluding loan level hedges), net4,795,060 — — 4,611,702 
Stock in FHLB53,826 — 53,826 — 
Liabilities
Non-interest bearing deposits$1,064,818 $1,064,818 $— $— 
Interest bearing deposits4,535,834 3,446,680 1,084,986 — 
Borrowings1,232,252 — 1,230,860 — 
Subordinated notes55,738 — 55,284 — 
Junior subordinated debentures issued to capital trusts57,477 — 48,559 — 
Interest payable11,137 — 11,137 — 
v3.25.4
Condensed Financial Information (Parent Company Only) (Tables)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheets
Condensed Balance Sheets
December 31
2025		December 31
2024
Assets
Total cash and cash equivalents$81,246 $86,938 
Investment in subsidiaries770,811 803,799 
Other assets17,254 9,806 
Total assets$869,311 $900,543 
Liabilities
Subordinated notes$98,215 $55,738 
Junior subordinated debentures issued to capital trusts57,688 57,477 
Other liabilities25,157 23,748 
Stockholders’ Equity688,251 763,580 
Total liabilities and stockholders’ equity$869,311 $900,543 
Condensed Statements of Income
Condensed Statements of Income
Years Ended December 31
202520242023
Income:
Dividend income from subsidiaries$40,000 $38,000 $55,500 
Other income343 117 431 
Total Income:$40,343 $38,117 $55,931 
Expenses:
Interest expense9,653 7,906 8,226 
Salaries and employee benefit expense2,101 5,351 3,502 
Other expense1,190 434 370 
Total expenses:$12,944 $13,691 $12,098 
Income Before Undistributed Income of Subsidiaries$27,399 $24,426 $43,833 
Undistributed Income (loss) of Subsidiaries(181,244)8,198 (17,838)
Income (Loss) Before Tax$(153,845)$32,624 $25,995 
Income Tax Benefit3,363 2,805 1,986 
Net Income (Loss) Available to Common Shareholders$(150,482)$35,429 $27,981 
Condensed Statements of Comprehensive Income (Loss)
Condensed Statements of Comprehensive Income (Loss)
Years Ended December 31
202520242023
Net Income (Loss)$(150,482)$35,429 $27,981 
Other Comprehensive Income (Loss)
Change in fair value of derivative instruments
Change in fair value of derivative instruments for the period— — (523)
Reclassification adjustment for swap termination gain realized in income— — (1,453)
Income tax effect— — 415 
Changes from derivative instruments— — (1,561)
Change in securities:
Unrealized gain (loss) for the period on available for sale securities(284,181)(120)20,728 
Amortization (accretion) from transfer of securities from available for sale to held to maturity securities(2,395)(657)(691)
Reclassification adjustment for securities (gains) losses realized in income299,538 39,140 32,052 
Income tax effect(2,657)(8,055)(10,939)
Unrealized gains (losses) on securities10,305 30,308 41,150 
Other Comprehensive Income (Loss), Net of Tax10,305 30,308 39,589 
Comprehensive Income (Loss)$(140,177)$65,737 $67,570 
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
Years Ended December 31
202520242023
Operating Activities
Net income (loss)$(150,482)$35,429 $27,981 
Items not requiring (providing) cash
Equity in undistributed net income of subsidiaries181,244 (8,198)17,838 
Change in:
Share based compensation1,621 4,586 3,586 
Other assets(8,026)(4,621)7,184 
Other liabilities1,236 3,717 (413)
Net cash provided by operating activities25,593 30,913 56,176 
Investing Activities
Capital contribution to subsidiary(138,108)— — 
Other investing activities735 1,829 1,762 
Net cash provided by (used in) investing activities(137,373)1,829 1,762 
Net cash used in investing activities
Other change in borrowings— — 378 
Dividends paid on common shares(29,488)(28,328)(28,311)
Net settlement of share awards(4,089)(1,371)(1,221)
Proceeds from issuance of stock97,950 — — 
Net proceeds from issuance of subordinated notes98,215 — — 
Repayment of subordinated notes(56,500)— (3,132)
Other— 4,146 — 
Net cash provided by (used in) financing activities106,088 (25,553)(32,286)
Net Change in Cash and Cash Equivalents(5,692)7,189 25,652 
Cash and Cash Equivalents at Beginning of Year86,938 79,749 54,097 
Cash and Cash Equivalents at End of Year$81,246 $86,938 $79,749 
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Details)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
segment
reporting_unit
office
$ / shares
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Jul. 16, 2019
shares
Schedule Of Accounting Policies [Line Items]        
Full service facilities maintained by bank | office 71      
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration] Interest receivable Interest receivable    
Accrued interest receivable $ 23,700 $ 25,600    
Minimum period required for satisfactory performance to return loan from non-accrual to accrual status 6 months      
Commercial loans as a percentage of total loan 70.00%      
Residential real estate loans as a percentage of total loan 16.00%      
Installment loans as a percentage of total loan 14.00%      
Investment in limited partnerships $ 16,600 24,900    
Investment program, proportional amortization method, elected, commitment $ 300      
Contractually Specified Servicing Fee Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Mortgage servicing income net of impairment      
Contractually specified servicing fees, amount $ 1,500 1,700 $ 2,700  
Gross Carrying Amount 7,200      
Goodwill 155,211 155,211    
Advertising expense $ 700 $ 1,200 $ 1,200  
Uncertain tax positions recognized 50.00%      
Shares, non-dilutive (in shares) | shares   85,212 226,028  
Number of shares authorized to be repurchased (in shares) | shares       2,250,000
Number of shares repurchased (in shares) | shares 803,349      
Average price per share repurchased (in USD per share) | $ / shares $ 16.89      
Compensation expense $ 1,600 $ 4,600 $ 3,600  
Number of reporting units | reporting_unit 1      
Number of operating segments | segment 1      
Real estate | Residential mortgage        
Schedule Of Accounting Policies [Line Items]        
Transfer from held-in-portfolio to held-for-sale $ 2,400      
Real estate | Charlevoix Branch Loan        
Schedule Of Accounting Policies [Line Items]        
Transfer from held-in-portfolio to held-for-sale $ 7,400      
Minimum        
Schedule Of Accounting Policies [Line Items]        
Loan delinquency period 90 days      
Minimum | Buildings and improvements        
Schedule Of Accounting Policies [Line Items]        
Useful Life for depreciation 3 years      
Minimum | Furniture and equipment        
Schedule Of Accounting Policies [Line Items]        
Useful Life for depreciation 2 years      
Maximum        
Schedule Of Accounting Policies [Line Items]        
Allowance for loan losses charge down family first and junior lien mortgages past due period 180 days      
Allowance for loan losses charge down unsecured open end loans past due period 90 days      
Maximum | Buildings and improvements        
Schedule Of Accounting Policies [Line Items]        
Useful Life for depreciation 40 years      
Maximum | Furniture and equipment        
Schedule Of Accounting Policies [Line Items]        
Useful Life for depreciation 20 years      
Measurement Input, Discount Rate        
Schedule Of Accounting Policies [Line Items]        
Factor considered to be significant for fair value measurement 0.10      
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Basic earnings per share      
Net Income (loss) $ (150,482) $ 35,429 $ 27,981
Weighted average common shares outstanding (in shares) 46,486,776 43,702,314 43,630,160
Basic earnings per share (in USD per share) $ (3.24) $ 0.81 $ 0.64
Diluted earnings per share      
Net income (loss) available to common shareholders $ (150,482) $ 35,429 $ 27,981
Effect of dilutive securities:      
Weighted average common shares outstanding (in shares) 46,486,776 44,064,490 43,843,880
Diluted earnings per share (in USD per share) $ (3.24) $ 0.80 $ 0.64
Restricted stock      
Effect of dilutive securities:      
Effect of dilutive securities (in shares) 0 359,704 208,827
Stock options      
Effect of dilutive securities:      
Effect of dilutive securities (in shares) 0 2,472 4,893
v3.25.4
Cash Equivalents (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Cash and Cash Equivalents [Abstract]  
Cash equivalent maximum maturity period 3 months
Increase in cash account over the insured limit $ 101.5
Federal home loan bank stock and federal reserve bank stock $ 71.6
v3.25.4
Securities - Schedule of Fair Value of Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Available for sale      
Amortized Cost $ 908,829    
Allowance for Credit Losses (120) $ 0 $ 0
Net Carrying Amount 908,709    
Gross Unrealized Gains 6,904 0  
Gross Unrealized Losses (40,199) (48,345)  
Fair Value 875,414 233,677  
Held to maturity      
Federal funds sold 0 1,867,848  
Allowance for Credit Losses 0    
Net Carrying Amount 0    
Amortized Cost   282,022  
Gross Unrealized Gains 0 958  
Gross Unrealized Losses 0 (302,538)  
Fair Value 0 1,566,268  
Less: Allowance for credit losses 0 (158) $ (157)
Held to maturity securities, net of allowance for credit losses 0 1,867,690  
Investment securities, held for trading 3,883 0  
U.S. Treasury, federal agencies, and government sponsored agencies      
Available for sale      
Amortized Cost 16,837    
Allowance for Credit Losses 0    
Net Carrying Amount 16,837    
Gross Unrealized Gains 70 0  
Gross Unrealized Losses (2) (457)  
Fair Value 16,905 1,801  
Held to maturity      
Federal funds sold 0 278,383  
Allowance for Credit Losses 0    
Net Carrying Amount 0    
Amortized Cost   2,258  
Gross Unrealized Gains 0 0  
Gross Unrealized Losses 0 (39,253)  
Fair Value 0 239,130  
Investment securities, held for trading 3,883 0  
State and municipal      
Available for sale      
Amortized Cost 353,559    
Allowance for Credit Losses 0    
Net Carrying Amount 353,559    
Gross Unrealized Gains 2,109 0  
Gross Unrealized Losses (36,003) (41,687)  
Fair Value 319,665 201,834  
Held to maturity      
Federal funds sold 0 1,048,862  
Allowance for Credit Losses 0    
Net Carrying Amount 0    
Amortized Cost   243,521  
Gross Unrealized Gains 0 958  
Gross Unrealized Losses 0 (183,114)  
Fair Value 0 866,706  
Investment securities, held for trading 0 0  
U.S. government agency mortgage-backed securities      
Available for sale      
Amortized Cost 489,683    
Allowance for Credit Losses 0    
Net Carrying Amount 489,683    
Gross Unrealized Gains 4,725 0  
Gross Unrealized Losses (234) (3,441)  
Fair Value 494,174 14,543  
Held to maturity      
Federal funds sold 0 349,726  
Allowance for Credit Losses 0    
Net Carrying Amount 0    
Amortized Cost   17,984  
Gross Unrealized Gains 0 0  
Gross Unrealized Losses 0 (54,904)  
Fair Value 0 294,822  
Investment securities, held for trading 0 0  
Private labeled mortgage-backed pools      
Held to maturity      
Federal funds sold 0 29,278  
Allowance for Credit Losses 0    
Net Carrying Amount 0    
Gross Unrealized Gains 0 0  
Gross Unrealized Losses 0 (3,958)  
Fair Value 0 25,320  
Corporate notes      
Available for sale      
Amortized Cost 48,750    
Allowance for Credit Losses (120)    
Net Carrying Amount 48,630    
Gross Unrealized Gains 0 0  
Gross Unrealized Losses (3,960) (2,760)  
Fair Value 44,670 15,499  
Held to maturity      
Federal funds sold 0 161,599  
Allowance for Credit Losses 0    
Net Carrying Amount 0    
Amortized Cost   18,259  
Gross Unrealized Gains 0 0  
Gross Unrealized Losses 0 (21,309)  
Fair Value 0 140,290  
Investment securities, held for trading $ 0 $ 0  
v3.25.4
Securities - Additional Information (Details)
$ in Thousands
 1 Months Ended 12 Months Ended
Aug. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
security
Dec. 31, 2024
USD ($)
security
Dec. 31, 2023
USD ($)
Marketable Securities [Line Items]        
Debt securities, held-to-maturity, amortized cost, transfer, amount $ 1,800,000      
Debt securities, held-to-maturity, transfer, unrealized gain (loss) 282,600      
Debt securities, available-for-sale, sold at par value 1,400,000      
Gross losses $ 299,500 $ 299,538 $ 39,145 $ 32,267
Number of securities in unrealized loss positions | security   836 2,115,000  
Unrealized loss positions   $ 310,100 $ 1,800,000  
Percentage of portfolio   35.00% 86.00%  
Fair value of nonaccrual status   $ 4,000    
Allowance for credit losses expense (benefit) - AFS Securities   120 $ 0  
Allowance for credit loss   0 158 157
Federal funds sold   0 1,867,848  
Accrued interest receivable on available for sale debt securities   5,300 12,700  
Income tax expense from reclassification   62,900 8,200 $ 6,700
State and municipal        
Marketable Securities [Line Items]        
Federal funds sold   0 1,048,862  
State and municipal | Internally-Assigned Rating Methodology        
Marketable Securities [Line Items]        
Federal funds sold   $ 0 $ 125,000  
v3.25.4
Securities - Schedule of Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Available for sale    
Amortized cost within one year $ 15,836  
Amortized cost one to five years 47,706  
Amortized cost for five to ten years 75,422  
Amortized cost for after ten years 280,182  
Amortized cost, available for sale 419,146  
Total available for sale investment securities 0 $ 1,867,848
Fair value within one year 15,773  
Fair value for one to five years 46,646  
Fair value for five to ten years 69,653  
Fair value for after ten years 249,168  
Fair value, available for sale 381,240  
Fair Value 875,414 233,677
Amortized Cost 908,829  
U.S. government agency mortgage-backed securities    
Available for sale    
Amortized cost, available for sale, mortgage obligations and backed pools 489,683  
Total available for sale investment securities 0 349,726
Fair Value 494,174 14,543
Amortized Cost 489,683  
Private labeled mortgage-backed pools    
Available for sale    
Total available for sale investment securities $ 0 $ 29,278
v3.25.4
Securities - Schedule of Gross Unrealized Losses and Fair Value of Company's Investments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Available-for-sale Securities [Line Items]    
Fair value less than 12 months $ 67,351 $ 0
Unrealized losses less than 12 months (946) 0
Fair value more than 12 months 242,725 233,677
Unrealized losses more than 12 months (38,244) (48,345)
Total fair value 310,076 233,677
Total unrealized losses (39,190) (48,345)
U.S. Treasury, federal agencies, and government sponsored agencies    
Schedule of Available-for-sale Securities [Line Items]    
Fair value less than 12 months 0 0
Unrealized losses less than 12 months 0 0
Fair value more than 12 months 748 1,801
Unrealized losses more than 12 months (2) (457)
Total fair value 748 1,801
Total unrealized losses (2) (457)
State and municipal    
Schedule of Available-for-sale Securities [Line Items]    
Fair value less than 12 months 26,804 0
Unrealized losses less than 12 months (725) 0
Fair value more than 12 months 200,978 201,834
Unrealized losses more than 12 months (35,278) (41,687)
Total fair value 227,782 201,834
Total unrealized losses (36,003) (41,687)
U.S. government agency mortgage-backed securities    
Schedule of Available-for-sale Securities [Line Items]    
Fair value less than 12 months 40,547 0
Unrealized losses less than 12 months (221) 0
Fair value more than 12 months 200 14,543
Unrealized losses more than 12 months (13) (3,441)
Total fair value 40,747 14,543
Total unrealized losses (234) (3,441)
Corporate notes    
Schedule of Available-for-sale Securities [Line Items]    
Fair value less than 12 months 0 0
Unrealized losses less than 12 months 0 0
Fair value more than 12 months 40,799 15,499
Unrealized losses more than 12 months (2,951) (2,760)
Total fair value 40,799 15,499
Total unrealized losses $ (2,951) $ (2,760)
v3.25.4
Securities - Schedule of Allowance for Credit Loss on Available-for-Sale Debt Securities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-Sale, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 0 $ 0
Allowance for credit losses expense (benefit) - AFS Securities 120 0
Ending balance $ 120 $ 0
v3.25.4
Securities - Schedule of Credit Quality Indicators of Held-To-Maturity Securities at Amortized Cost (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold $ 0 $ 1,867,848
U.S. Treasury, federal agencies, and government sponsored agencies    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 278,383
State and municipal    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 1,048,862
U.S. government agency mortgage-backed securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 349,726
Private labeled mortgage-backed pools    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 29,278
Corporate notes    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 161,599
AAA    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 652,633
AAA | U.S. Treasury, federal agencies, and government sponsored agencies    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
AAA | State and municipal    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 273,629
AAA | U.S. government agency mortgage-backed securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 349,726
AAA | Private labeled mortgage-backed pools    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 29,278
AAA | Corporate notes    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
AA    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 982,987
AA | U.S. Treasury, federal agencies, and government sponsored agencies    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 278,383
AA | State and municipal    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 698,428
AA | U.S. government agency mortgage-backed securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
AA | Private labeled mortgage-backed pools    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
AA | Corporate notes    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 6,176
A    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 77,628
A | U.S. Treasury, federal agencies, and government sponsored agencies    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
A | State and municipal    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 66,079
A | U.S. government agency mortgage-backed securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
A | Private labeled mortgage-backed pools    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
A | Corporate notes    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 11,549
BBB    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 86,329
BBB | U.S. Treasury, federal agencies, and government sponsored agencies    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
BBB | State and municipal    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 10,726
BBB | U.S. government agency mortgage-backed securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
BBB | Private labeled mortgage-backed pools    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
BBB | Corporate notes    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 75,603
BB    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 4,543
BB | U.S. Treasury, federal agencies, and government sponsored agencies    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
BB | State and municipal    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
BB | U.S. government agency mortgage-backed securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
BB | Private labeled mortgage-backed pools    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
BB | Corporate notes    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 4,543
Not Rated    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 63,728
Not Rated | U.S. Treasury, federal agencies, and government sponsored agencies    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
Not Rated | State and municipal    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
Not Rated | U.S. government agency mortgage-backed securities    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
Not Rated | Private labeled mortgage-backed pools    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold 0 0
Not Rated | Corporate notes    
Schedule of Held-to-Maturity Securities [Line Items]    
Federal funds sold $ 0 $ 63,728
v3.25.4
Securities - Schedule of Allowance for Credit Losses on Held-To-Maturity Securities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 158 $ 157
Credit loss expense (benefit) (158) 1
Ending balance $ 0 $ 158
v3.25.4
Securities - Sales of Securities Available for Sale (Details) - USD ($)
$ in Thousands
 1 Months Ended 12 Months Ended
Aug. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]        
Proceeds   $ 1,409,870 $ 293,138 $ 439,285
Gross gains   0 6 215
Gross losses $ (299,500) $ (299,538) $ (39,145) $ (32,267)
v3.25.4
Securities - Fair Value and Amortized Cost of Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value    
Pledged securities for borrowing availability at the Federal Reserve $ 114,727 $ 851,384
Pledge securities for FHLB borrowings 0 279,136
Pledged securities for derivative instruments 0 6,234
Amortized Cost [Abstract]    
Pledged securities for borrowing availability at the Federal Reserve 140,512 1,032,916
Pledge securities for FHLB borrowings 0 333,613
Pledged securities for derivative instruments $ 0 $ 6,709
v3.25.4
Loans - Schedule of Loans Outstanding by Portfolio Class (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans $ 4,876,542 $ 4,847,040    
Allowance for credit losses (51,299) (51,980) $ (50,029) $ (50,464)
Net loans 4,825,243 4,795,060    
Commercial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 3,432,408 3,078,156    
Allowance for credit losses (35,473) (30,953) (29,736) (32,445)
Commercial | Owner occupied real estate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 699,327 667,165    
Commercial | Non–owner occupied real estate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 1,669,260 1,501,456    
Commercial | Residential spec homes        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 17,741 15,611    
Commercial | Development & spec land        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 35,535 18,627    
Commercial | Commercial and industrial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 1,010,545 875,297    
Real estate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 772,427 802,909    
Allowance for credit losses (3,183) (2,715) (2,503) (5,577)
Real estate | Residential mortgage        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 741,477 783,961    
Real estate | Residential construction        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 30,950 18,948    
Consumer        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 671,707 965,975    
Allowance for credit losses (12,643) (18,312) $ (17,309) $ (11,422)
Consumer | Direct installment        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 77,174 97,190    
Consumer | Indirect installment        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans 19,672 303,901    
Consumer | Home equity        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total loans $ 574,861 $ 564,884    
v3.25.4
Loans - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Deferred fees costs loans and leases $ 6,800,000 $ 14,900,000
Defaulted receivables 5,600,000 0
Repossessed assets 1,700,000  
Nonaccrual interest income 0 0
Financing receivable, accrued interest, writeoff 700,000 $ 0
Maximum    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Loans with an aggregate credit exposure $ 6,000,000  
Loans classified as TDR after a period 120 days  
Maximum | Satisfactory Pass    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Minimum number of years of satisfactory repayment required for satisfactory pass rating 2 years  
Minimum    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Loans with an aggregate credit exposure $ 3,000,000  
Loans classified as TDR after a period 90 days  
Minimum | Good Pass    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Number of consecutive years of profit for good pass rating 3 years  
Number of consecutive years of profit unaudited financial information for good pass rating 5 years  
Number of years of satisfactory relationship with bank for good pass rating 5 years  
Consumer    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Mortgage loans in process of foreclosure, amount $ 900,000  
v3.25.4
Loans - Schedule of Non-accrual, Loans Past Due Over 90 Days Still on Accrual, and Troubled Debt Restructured ("TDRs") by Class of Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Past Due [Line Items]    
Total Non-accrual $ 32,457 $ 25,792
Loans Past Due Over 90 Days Still Accruing 2,489 1,166
Non-accruing Loans with no Allowance for Credit Losses 8,049 3,636
Commercial    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 14,549 5,658
Loans Past Due Over 90 Days Still Accruing 0 0
Non-accruing Loans with no Allowance for Credit Losses 7,120 3,636
Commercial | Owner occupied real estate    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 5,396 2,448
Loans Past Due Over 90 Days Still Accruing 0 0
Non-accruing Loans with no Allowance for Credit Losses 1,599 1,419
Commercial | Non–owner occupied real estate    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 3,026 444
Loans Past Due Over 90 Days Still Accruing 0 0
Non-accruing Loans with no Allowance for Credit Losses 1,074 444
Commercial | Residential spec homes    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 0 0
Loans Past Due Over 90 Days Still Accruing 0 0
Non-accruing Loans with no Allowance for Credit Losses 0 0
Commercial | Development & spec land    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 496 534
Loans Past Due Over 90 Days Still Accruing 0 0
Non-accruing Loans with no Allowance for Credit Losses 496 534
Commercial | Commercial and industrial    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 5,631 2,232
Loans Past Due Over 90 Days Still Accruing 0 0
Non-accruing Loans with no Allowance for Credit Losses 3,951 1,239
Real estate    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 10,087 11,215
Loans Past Due Over 90 Days Still Accruing 90 0
Non-accruing Loans with no Allowance for Credit Losses 929 0
Real estate | Residential mortgage    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 10,087 11,215
Loans Past Due Over 90 Days Still Accruing 90 0
Non-accruing Loans with no Allowance for Credit Losses 929 0
Real estate | Residential construction    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 0 0
Loans Past Due Over 90 Days Still Accruing 0 0
Non-accruing Loans with no Allowance for Credit Losses 0 0
Consumer    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 7,821 8,919
Loans Past Due Over 90 Days Still Accruing 2,399 1,166
Non-accruing Loans with no Allowance for Credit Losses 0 0
Consumer | Direct installment    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 342 338
Loans Past Due Over 90 Days Still Accruing 373 128
Non-accruing Loans with no Allowance for Credit Losses 0 0
Consumer | Indirect installment    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 1,058 1,542
Loans Past Due Over 90 Days Still Accruing 170 358
Non-accruing Loans with no Allowance for Credit Losses 0 0
Consumer | Home equity    
Financing Receivable, Past Due [Line Items]    
Total Non-accrual 6,421 7,039
Loans Past Due Over 90 Days Still Accruing 1,856 680
Non-accruing Loans with no Allowance for Credit Losses $ 0 $ 0
v3.25.4
Loans - Schedule of Payment Status by Class of Loan (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Past Due [Line Items]    
Current $ 4,827,922 $ 4,810,265
Total loans 4,876,542 4,847,040
Total Past Due 48,620 36,775
Total Loans 4,876,542 4,847,040
30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 18,603 16,928
60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 10,985 6,757
90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 19,032 13,090
Commercial    
Financing Receivable, Past Due [Line Items]    
Current 3,417,266 3,073,235
Total loans 3,432,408 3,078,156
Total Past Due 15,142 4,921
Total Loans 3,432,408 3,078,156
Commercial | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 7,767 4,281
Commercial | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 2,588 70
Commercial | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 4,787 570
Commercial | Owner occupied real estate    
Financing Receivable, Past Due [Line Items]    
Current 694,040 665,875
Total loans 699,327 667,165
Total Past Due 5,287 1,290
Total Loans 699,327 667,165
Commercial | Owner occupied real estate | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 2,671 1,195
Commercial | Owner occupied real estate | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 384 0
Commercial | Owner occupied real estate | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 2,232 95
Commercial | Non–owner occupied real estate    
Financing Receivable, Past Due [Line Items]    
Current 1,668,372 1,500,229
Total loans 1,669,260 1,501,456
Total Past Due 888 1,227
Total Loans 1,669,260 1,501,456
Commercial | Non–owner occupied real estate | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 490 931
Commercial | Non–owner occupied real estate | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 398 0
Commercial | Non–owner occupied real estate | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 0 296
Commercial | Residential spec homes    
Financing Receivable, Past Due [Line Items]    
Current 17,741 15,611
Total loans 17,741 15,611
Total Past Due 0 0
Total Loans 17,741 15,611
Commercial | Residential spec homes | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 0 0
Commercial | Residential spec homes | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 0 0
Commercial | Residential spec homes | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 0 0
Commercial | Development & spec land    
Financing Receivable, Past Due [Line Items]    
Current 35,039 18,627
Total loans 35,535 18,627
Total Past Due 496 0
Total Loans 35,535 18,627
Commercial | Development & spec land | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 0 0
Commercial | Development & spec land | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 496 0
Commercial | Development & spec land | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 0 0
Commercial | Commercial and industrial    
Financing Receivable, Past Due [Line Items]    
Current 1,002,074 872,893
Total loans 1,010,545 875,297
Total Past Due 8,471 2,404
Total Loans 1,010,545 875,297
Commercial | Commercial and industrial | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 4,606 2,155
Commercial | Commercial and industrial | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 1,310 70
Commercial | Commercial and industrial | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 2,555 179
Real estate    
Financing Receivable, Past Due [Line Items]    
Current 759,700 792,162
Total loans 772,427 802,909
Total Past Due 12,727 10,747
Total Loans 772,427 802,909
Real estate | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 4 0
Real estate | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 5,255 4,163
Real estate | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 7,468 6,584
Real estate | Residential mortgage    
Financing Receivable, Past Due [Line Items]    
Current 730,784 773,214
Total loans 741,477 783,961
Total Past Due 10,693 10,747
Total Loans 741,477 783,961
Real estate | Residential mortgage | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 4 0
Real estate | Residential mortgage | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 3,221 4,163
Real estate | Residential mortgage | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 7,468 6,584
Real estate | Residential construction    
Financing Receivable, Past Due [Line Items]    
Current 28,916 18,948
Total loans 30,950 18,948
Total Past Due 2,034 0
Total Loans 30,950 18,948
Real estate | Residential construction | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 0 0
Real estate | Residential construction | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 2,034 0
Real estate | Residential construction | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 0 0
Consumer    
Financing Receivable, Past Due [Line Items]    
Current 650,956 944,868
Total loans 671,707 965,975
Total Past Due 20,751 21,107
Total Loans 671,707 965,975
Consumer | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 10,832 12,647
Consumer | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 3,142 2,524
Consumer | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 6,777 5,936
Consumer | Direct installment    
Financing Receivable, Past Due [Line Items]    
Current 73,671 95,337
Total Past Due 3,503 1,853
Total Loans 77,174 97,190
Consumer | Direct installment | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 2,638 1,325
Consumer | Direct installment | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 343 181
Consumer | Direct installment | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 522 347
Consumer | Indirect installment    
Financing Receivable, Past Due [Line Items]    
Current 16,390 298,048
Total Past Due 3,282 5,853
Total Loans 19,672 303,901
Consumer | Indirect installment | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 2,203 4,179
Consumer | Indirect installment | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 478 806
Consumer | Indirect installment | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 601 868
Consumer | Home equity    
Financing Receivable, Past Due [Line Items]    
Current 560,895 551,483
Total loans 574,861 564,884
Total Past Due 13,966 13,401
Total Loans 574,861 564,884
Consumer | Home equity | 30-59 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 5,991 7,143
Consumer | Home equity | 60-89 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans 2,321 1,537
Consumer | Home equity | 90 Days or Greater Past Due    
Financing Receivable, Past Due [Line Items]    
Total loans $ 5,654 $ 4,721
v3.25.4
Loans - Modified Loans (Details) - Commercial - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 14,571 $ 9,531
% of Loans Held for Investment 0.30% 0.20%
Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 4,827 $ 5,486
Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Other-Than-Insignificant Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 5,840 1,391
Term Extension and Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 3,904 2,654
Multiple    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Owner occupied real estate    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 7,744 $ 5,107
% of Loans Held for Investment 0.16% 0.77%
Owner occupied real estate | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 550 $ 2,038
Weighted Average Term Extension (In Months) 17 months 6 months
Owner occupied real estate | Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 $ 0
Owner occupied real estate | Other-Than-Insignificant Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 5,242 $ 651
Weighted Average Payment Delay (In Months) 6 months 5 months
Owner occupied real estate | Term Extension and Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 1,952 $ 2,418
Weighted Average Term Extension (In Months) 12 months 60 months
Weighted average interest rate reduction (in percent) 1.50% 1.04%
Owner occupied real estate | Multiple    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 $ 0
Non–owner occupied real estate    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 398 $ 0
% of Loans Held for Investment 0.01% 0.00%
Non–owner occupied real estate | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 398 $ 0
Weighted Average Term Extension (In Months) 12 months  
Non–owner occupied real estate | Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 0
Non–owner occupied real estate | Other-Than-Insignificant Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Non–owner occupied real estate | Term Extension and Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Non–owner occupied real estate | Multiple    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Development & spec land    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 496 $ 0
% of Loans Held for Investment 0.01% 0.00%
Development & spec land | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 496 $ 0
Weighted Average Term Extension (In Months) 12 months  
Development & spec land | Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 0
Development & spec land | Other-Than-Insignificant Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Development & spec land | Term Extension and Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Development & spec land | Multiple    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Commercial and industrial    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 5,933 $ 4,424
% of Loans Held for Investment 0.12% 0.51%
Commercial and industrial | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 3,383 $ 3,448
Weighted Average Term Extension (In Months) 17 months 29 months
Commercial and industrial | Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 $ 0
Commercial and industrial | Other-Than-Insignificant Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 598 $ 740
Weighted Average Payment Delay (In Months) 5 months 6 months
Commercial and industrial | Term Extension and Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 1,952 $ 236
Weighted Average Term Extension (In Months) 30 months 21 months
Weighted average interest rate reduction (in percent) 1.73% 2.25%
Commercial and industrial | Multiple    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 $ 0
v3.25.4
Loans - Modified Loans Past Due (Details) - Commercial - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 14,571 $ 9,531
Total $ 14,571 $ 9,531
% of Loans Held for Investment 0.30% 0.20%
Other-Than-Insignificant Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 5,840 $ 1,391
Term Extension and Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 3,904 2,654
Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 4,827 5,486
Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Multiple    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Current    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 8,949 9,531
30-89 Days Past Due    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 2,992 0
90 Days or Greater Past Due    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 2,630 0
Owner occupied real estate    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 7,744 5,107
Total $ 7,744 $ 5,107
% of Loans Held for Investment 0.16% 0.77%
Owner occupied real estate | Other-Than-Insignificant Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 5,242 $ 651
Owner occupied real estate | Term Extension and Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 1,952 2,418
Owner occupied real estate | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 550 2,038
Owner occupied real estate | Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Owner occupied real estate | Multiple    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Owner occupied real estate | Current    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 3,711 5,107
Owner occupied real estate | 30-89 Days Past Due    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 1,845 0
Owner occupied real estate | 90 Days or Greater Past Due    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 2,188 0
Non–owner occupied real estate    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 398 0
Total $ 398 $ 0
% of Loans Held for Investment 0.01% 0.00%
Non–owner occupied real estate | Other-Than-Insignificant Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 $ 0
Non–owner occupied real estate | Term Extension and Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Non–owner occupied real estate | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 398 0
Non–owner occupied real estate | Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Non–owner occupied real estate | Multiple    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Non–owner occupied real estate | Current    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Non–owner occupied real estate | 30-89 Days Past Due    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 398 0
Non–owner occupied real estate | 90 Days or Greater Past Due    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Development & spec land    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 496  
Total $ 496 $ 0
% of Loans Held for Investment 0.01% 0.00%
Development & spec land | Other-Than-Insignificant Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 $ 0
Development & spec land | Term Extension and Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Development & spec land | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 496 0
Development & spec land | Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Development & spec land | Multiple    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Development & spec land | Current    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0  
Development & spec land | 30-89 Days Past Due    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 496  
Development & spec land | 90 Days or Greater Past Due    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0  
Commercial and industrial    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 5,933 4,424
Total $ 5,933 $ 4,424
% of Loans Held for Investment 0.12% 0.51%
Commercial and industrial | Other-Than-Insignificant Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 598 $ 740
Commercial and industrial | Term Extension and Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 1,952 236
Commercial and industrial | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 3,383 3,448
Commercial and industrial | Interest Rate Reduction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Commercial and industrial | Multiple    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Commercial and industrial | Current    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 5,238 4,424
Commercial and industrial | 30-89 Days Past Due    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 253 0
Commercial and industrial | 90 Days or Greater Past Due    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 442 $ 0
v3.25.4
Loans - Schedule of Collateral Pledged Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans $ 4,876,542 $ 4,847,040
Commercial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 3,432,408 3,078,156
Commercial | Owner occupied real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 699,327 667,165
Commercial | Non–owner occupied real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 1,669,260 1,501,456
Commercial | Residential spec homes    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 17,741 15,611
Commercial | Development & spec land    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 35,535 18,627
Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 1,010,545 875,297
Consumer    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 671,707 965,975
Consumer | Home equity    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 574,861 564,884
Real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 772,427 802,909
Real estate | Residential mortgage    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 741,477 783,961
Collateral Pledged    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 16,401 5,658
ACL Allocation 1,329 955
Collateral Pledged | Commercial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 14,549 5,658
ACL Allocation 1,016 955
Collateral Pledged | Commercial | Owner occupied real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 5,395 2,448
ACL Allocation 114 224
Collateral Pledged | Commercial | Non–owner occupied real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 3,026 444
ACL Allocation 20 0
Collateral Pledged | Commercial | Residential spec homes    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0 0
ACL Allocation 0 0
Collateral Pledged | Commercial | Development & spec land    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 496 534
ACL Allocation 0 0
Collateral Pledged | Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 5,632 2,232
ACL Allocation 882 731
Collateral Pledged | Consumer    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 923  
ACL Allocation 313  
Collateral Pledged | Consumer | Home equity    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 923  
ACL Allocation 313  
Collateral Pledged | Real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 929  
ACL Allocation 0  
Collateral Pledged | Real estate | Residential mortgage    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 929  
ACL Allocation 0  
Real Estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 12,459 5,182
Real Estate | Commercial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 10,607 5,182
Real Estate | Commercial | Owner occupied real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 5,395 2,448
Real Estate | Commercial | Non–owner occupied real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 3,026 444
Real Estate | Commercial | Residential spec homes    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0 0
Real Estate | Commercial | Development & spec land    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 496 534
Real Estate | Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 1,690 1,756
Real Estate | Consumer    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 923  
Real Estate | Consumer | Home equity    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 923  
Real Estate | Real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 929  
Real Estate | Real estate | Residential mortgage    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 929  
Accounts Receivable/ Equipment    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 3,269 476
Accounts Receivable/ Equipment | Commercial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 3,269 476
Accounts Receivable/ Equipment | Commercial | Owner occupied real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0 0
Accounts Receivable/ Equipment | Commercial | Non–owner occupied real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0 0
Accounts Receivable/ Equipment | Commercial | Residential spec homes    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0 0
Accounts Receivable/ Equipment | Commercial | Development & spec land    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0 0
Accounts Receivable/ Equipment | Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 3,269 476
Accounts Receivable/ Equipment | Consumer    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0  
Accounts Receivable/ Equipment | Consumer | Home equity    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0  
Accounts Receivable/ Equipment | Real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0  
Accounts Receivable/ Equipment | Real estate | Residential mortgage    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0  
Other    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 673 0
Other | Commercial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 673 0
Other | Commercial | Owner occupied real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0 0
Other | Commercial | Non–owner occupied real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0 0
Other | Commercial | Residential spec homes    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0 0
Other | Commercial | Development & spec land    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0 0
Other | Commercial | Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 673 $ 0
Other | Consumer    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0  
Other | Consumer | Home equity    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0  
Other | Real estate    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans 0  
Other | Real estate | Residential mortgage    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total loans $ 0  
v3.25.4
Loans - Schedule of Loans by Credit Grades (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]      
Total $ 4,876,542 $ 4,847,040  
Total charge-offs 6,607 3,708 $ 4,286
Commercial      
Financing Receivable, Credit Quality Indicator [Line Items]      
Total 3,432,408 3,078,156  
Total charge-offs 953 154 1,403
Commercial | Owner occupied real estate      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 104,621 78,748  
Fiscal year before current fiscal year 99,007 83,066  
Two year before current fiscal year 92,929 93,647  
Three year before current fiscal year 77,177 77,054  
Four year before current fiscal year 63,191 36,920  
Prior 175,963 192,538  
Revolving Term Loans 71,797 92,227  
Revolving Loans 14,642 12,965  
Total 699,327 667,165  
Current fiscal year, charge-offs 316 0  
Fiscal year before current fiscal year, charge-offs 502 0  
Two year before current fiscal year, charge-offs 0 0  
Three year before current fiscal year, charge-offs 50 0  
Four year before current fiscal year, charge-offs 0 0  
Prior, charge-offs 49 1  
Revolving term loans, charge-offs 36 0  
Revolving Loans 0 0  
Total charge-offs 953 1  
Commercial | Owner occupied real estate | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 103,721 75,649  
Fiscal year before current fiscal year 90,288 74,305  
Two year before current fiscal year 83,508 90,872  
Three year before current fiscal year 75,503 68,978  
Four year before current fiscal year 61,816 36,778  
Prior 167,595 178,936  
Revolving Term Loans 69,454 92,227  
Revolving Loans 14,592 12,365  
Total 666,477 630,110  
Commercial | Owner occupied real estate | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 900 129  
Fiscal year before current fiscal year 5,013 0  
Two year before current fiscal year 0 1,724  
Three year before current fiscal year 0 1,769  
Four year before current fiscal year 1,375 142  
Prior 6,258 8,759  
Revolving Term Loans 2,343 0  
Revolving Loans 0 100  
Total 15,889 12,623  
Commercial | Owner occupied real estate | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 2,970  
Fiscal year before current fiscal year 3,706 8,761  
Two year before current fiscal year 9,421 1,051  
Three year before current fiscal year 1,674 6,307  
Four year before current fiscal year 0 0  
Prior 2,110 4,843  
Revolving Term Loans 0 0  
Revolving Loans 50 500  
Total 16,961 24,432  
Commercial | Owner occupied real estate | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 0 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 0 0  
Commercial | Non–owner occupied real estate      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 196,058 194,250  
Fiscal year before current fiscal year 194,733 119,886  
Two year before current fiscal year 157,592 260,675  
Three year before current fiscal year 259,514 134,938  
Four year before current fiscal year 133,516 100,688  
Prior 406,538 381,005  
Revolving Term Loans 306,700 298,288  
Revolving Loans 14,609 11,726  
Total 1,669,260 1,501,456  
Current fiscal year, charge-offs 0 0  
Fiscal year before current fiscal year, charge-offs 0 0  
Two year before current fiscal year, charge-offs 0 0  
Three year before current fiscal year, charge-offs 0 0  
Four year before current fiscal year, charge-offs 0 0  
Prior, charge-offs 0 0  
Revolving term loans, charge-offs 0 0  
Revolving Loans 0 0  
Total charge-offs 0 0  
Commercial | Non–owner occupied real estate | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 195,568 194,167  
Fiscal year before current fiscal year 192,570 115,378  
Two year before current fiscal year 152,602 244,266  
Three year before current fiscal year 230,638 133,689  
Four year before current fiscal year 133,516 100,688  
Prior 400,187 344,558  
Revolving Term Loans 306,632 298,288  
Revolving Loans 14,609 11,726  
Total 1,626,322 1,442,760  
Commercial | Non–owner occupied real estate | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 490 0  
Fiscal year before current fiscal year 0 4,211  
Two year before current fiscal year 1,304 16,409  
Three year before current fiscal year 28,267 1,249  
Four year before current fiscal year 0 0  
Prior 5,771 31,083  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 35,832 52,952  
Commercial | Non–owner occupied real estate | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 83  
Fiscal year before current fiscal year 2,163 297  
Two year before current fiscal year 3,686 0  
Three year before current fiscal year 609 0  
Four year before current fiscal year 0 0  
Prior 580 5,364  
Revolving Term Loans 68 0  
Revolving Loans 0 0  
Total 7,106 5,744  
Commercial | Non–owner occupied real estate | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 0 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 0 0  
Commercial | Residential spec homes      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 4,896 362  
Fiscal year before current fiscal year 294 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 420  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 5,329 10,986  
Revolving Loans 7,222 3,843  
Total 17,741 15,611  
Current fiscal year, charge-offs 0 0  
Fiscal year before current fiscal year, charge-offs 0 0  
Two year before current fiscal year, charge-offs 0 0  
Three year before current fiscal year, charge-offs 0 0  
Four year before current fiscal year, charge-offs 0 0  
Prior, charge-offs 0 0  
Revolving term loans, charge-offs 0 0  
Revolving Loans 0 0  
Total charge-offs 0 0  
Commercial | Residential spec homes | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 4,896 362  
Fiscal year before current fiscal year 294 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 420  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 5,329 10,986  
Revolving Loans 7,222 3,843  
Total 17,741 15,611  
Commercial | Residential spec homes | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 0 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 0 0  
Commercial | Residential spec homes | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 0 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 0 0  
Commercial | Residential spec homes | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 0 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 0 0  
Commercial | Development & spec land      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 3,892 819  
Fiscal year before current fiscal year 816 4,139  
Two year before current fiscal year 3,096 788  
Three year before current fiscal year 746 1,133  
Four year before current fiscal year 1,021 328  
Prior 1,813 2,356  
Revolving Term Loans 23,165 8,465  
Revolving Loans 986 599  
Total 35,535 18,627  
Current fiscal year, charge-offs 0 0  
Fiscal year before current fiscal year, charge-offs 0 0  
Two year before current fiscal year, charge-offs 0 0  
Three year before current fiscal year, charge-offs 0 0  
Four year before current fiscal year, charge-offs 0 0  
Prior, charge-offs 0 0  
Revolving term loans, charge-offs 0 0  
Revolving Loans 0 0  
Total charge-offs 0 0  
Commercial | Development & spec land | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 3,892 819  
Fiscal year before current fiscal year 816 4,139  
Two year before current fiscal year 3,096 788  
Three year before current fiscal year 746 1,133  
Four year before current fiscal year 1,021 328  
Prior 1,813 2,039  
Revolving Term Loans 22,669 7,931  
Revolving Loans 986 599  
Total 35,039 17,776  
Commercial | Development & spec land | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 0 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 317  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 0 317  
Commercial | Development & spec land | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 0 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 496 534  
Revolving Loans 0 0  
Total 496 534  
Commercial | Development & spec land | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 0 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 0 0  
Commercial | Commercial and industrial      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 277,104 244,651  
Fiscal year before current fiscal year 196,271 108,800  
Two year before current fiscal year 81,691 130,270  
Three year before current fiscal year 102,842 73,253  
Four year before current fiscal year 53,329 7,221  
Prior 54,538 59,507  
Revolving Term Loans 60,035 58,835  
Revolving Loans 184,735 192,760  
Total 1,010,545 875,297  
Current fiscal year, charge-offs 0 0  
Fiscal year before current fiscal year, charge-offs 0 0  
Two year before current fiscal year, charge-offs 0 0  
Three year before current fiscal year, charge-offs 0 0  
Four year before current fiscal year, charge-offs 0 0  
Prior, charge-offs 0 45  
Revolving term loans, charge-offs 0 108  
Revolving Loans 0 0  
Total charge-offs 0 153  
Commercial | Commercial and industrial | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 273,848 242,562  
Fiscal year before current fiscal year 193,508 105,877  
Two year before current fiscal year 74,420 128,707  
Three year before current fiscal year 102,213 73,008  
Four year before current fiscal year 53,264 6,954  
Prior 52,660 54,764  
Revolving Term Loans 48,648 48,313  
Revolving Loans 172,692 179,370  
Total 971,253 839,555  
Commercial | Commercial and industrial | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 1,229 1,246  
Fiscal year before current fiscal year 690 324  
Two year before current fiscal year 781 1,245  
Three year before current fiscal year 547 28  
Four year before current fiscal year 33 1  
Prior 300 1,573  
Revolving Term Loans 10,386 9,519  
Revolving Loans 10,921 9,281  
Total 24,887 23,217  
Commercial | Commercial and industrial | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 2,027 843  
Fiscal year before current fiscal year 2,073 2,599  
Two year before current fiscal year 6,490 318  
Three year before current fiscal year 82 217  
Four year before current fiscal year 32 266  
Prior 1,578 3,170  
Revolving Term Loans 1,001 1,003  
Revolving Loans 1,122 4,109  
Total 14,405 12,525  
Commercial | Commercial and industrial | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 0 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 0 0  
Real estate      
Financing Receivable, Credit Quality Indicator [Line Items]      
Total 772,427 802,909  
Total charge-offs 1,062 5 48
Real estate | Residential mortgage      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 58,110 69,465  
Fiscal year before current fiscal year 76,950 147,546  
Two year before current fiscal year 107,211 162,905  
Three year before current fiscal year 145,852 141,782  
Four year before current fiscal year 127,089 79,269  
Prior 226,265 182,994  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 741,477 783,961  
Current fiscal year, charge-offs 0 0  
Fiscal year before current fiscal year, charge-offs 135 0  
Two year before current fiscal year, charge-offs 223 0  
Three year before current fiscal year, charge-offs 188 0  
Four year before current fiscal year, charge-offs 355 0  
Prior, charge-offs 161 5  
Revolving term loans, charge-offs 0 0  
Revolving Loans 0 0  
Total charge-offs 1,062 5  
Real estate | Residential mortgage | Performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 58,110 69,264  
Fiscal year before current fiscal year 76,445 145,927  
Two year before current fiscal year 104,783 160,780  
Three year before current fiscal year 143,616 140,310  
Four year before current fiscal year 126,636 78,563  
Prior 221,710 177,902  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 731,300 772,746  
Real estate | Residential mortgage | Non–performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 201  
Fiscal year before current fiscal year 505 1,619  
Two year before current fiscal year 2,428 2,125  
Three year before current fiscal year 2,236 1,472  
Four year before current fiscal year 453 706  
Prior 4,555 5,092  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 10,177 11,215  
Real estate | Residential construction      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 2,034 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 28,916 18,948  
Revolving Loans 0 0  
Total 30,950 18,948  
Current fiscal year, charge-offs 0 0  
Fiscal year before current fiscal year, charge-offs 0 0  
Two year before current fiscal year, charge-offs 0 0  
Three year before current fiscal year, charge-offs 0 0  
Four year before current fiscal year, charge-offs 0 0  
Prior, charge-offs 0 0  
Revolving term loans, charge-offs 0 0  
Revolving Loans 0 0  
Total charge-offs 0 0  
Real estate | Residential construction | Performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 2,034 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 28,916 18,948  
Revolving Loans 0 0  
Total 30,950 18,948  
Real estate | Residential construction | Non–performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 0 0  
Two year before current fiscal year 0 0  
Three year before current fiscal year 0 0  
Four year before current fiscal year 0 0  
Prior 0 0  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 0 0  
Consumer      
Financing Receivable, Credit Quality Indicator [Line Items]      
Total 671,707 965,975  
Total charge-offs 4,592 3,549 $ 2,835
Consumer | Direct installment      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 8,330 11,307  
Fiscal year before current fiscal year 6,354 60,224  
Two year before current fiscal year 47,672 9,556  
Three year before current fiscal year 5,229 5,417  
Four year before current fiscal year 3,200 2,679  
Prior 4,970 6,029  
Revolving Term Loans 84 60  
Revolving Loans 1,335 1,918  
Total 77,174 97,190  
Current fiscal year, charge-offs 11 72  
Fiscal year before current fiscal year, charge-offs 141 93  
Two year before current fiscal year, charge-offs 85 169  
Three year before current fiscal year, charge-offs 73 1  
Four year before current fiscal year, charge-offs 84 35  
Prior, charge-offs 5 78  
Revolving term loans, charge-offs 8 9  
Revolving Loans 0 0  
Total charge-offs 407 457  
Consumer | Direct installment | Performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 8,330 11,306  
Fiscal year before current fiscal year 6,354 59,850  
Two year before current fiscal year 47,094 9,510  
Three year before current fiscal year 5,160 5,398  
Four year before current fiscal year 3,160 2,679  
Prior 4,942 6,003  
Revolving Term Loans 84 60  
Revolving Loans 1,335 1,918  
Total 76,459 96,724  
Consumer | Direct installment | Non–performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 1  
Fiscal year before current fiscal year 0 374  
Two year before current fiscal year 578 46  
Three year before current fiscal year 69 19  
Four year before current fiscal year 40 0  
Prior 28 26  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 715 466  
Consumer | Indirect installment      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 26,839  
Fiscal year before current fiscal year 249 70,568  
Two year before current fiscal year 3,859 131,410  
Three year before current fiscal year 10,039 49,762  
Four year before current fiscal year 3,501 17,889  
Prior 2,024 7,433  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 19,672 303,901  
Current fiscal year, charge-offs 0 161  
Fiscal year before current fiscal year, charge-offs 245 449  
Two year before current fiscal year, charge-offs 885 1,345  
Three year before current fiscal year, charge-offs 1,414 527  
Four year before current fiscal year, charge-offs 477 188  
Prior, charge-offs 237 99  
Revolving term loans, charge-offs 0 0  
Revolving Loans 0 0  
Total charge-offs 3,258 2,769  
Consumer | Indirect installment | Performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 26,839  
Fiscal year before current fiscal year 220 70,143  
Two year before current fiscal year 3,584 130,610  
Three year before current fiscal year 9,469 49,458  
Four year before current fiscal year 3,269 17,647  
Prior 1,902 7,304  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 18,444 302,001  
Consumer | Indirect installment | Non–performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 29 425  
Two year before current fiscal year 275 800  
Three year before current fiscal year 570 304  
Four year before current fiscal year 232 242  
Prior 122 129  
Revolving Term Loans 0 0  
Revolving Loans 0 0  
Total 1,228 1,900  
Consumer | Home equity      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 12,301 13,552  
Fiscal year before current fiscal year 10,629 22,266  
Two year before current fiscal year 17,237 16,562  
Three year before current fiscal year 12,685 5,110  
Four year before current fiscal year 4,497 1,932  
Prior 7,719 9,506  
Revolving Term Loans 39,269 25,122  
Revolving Loans 470,524 470,834  
Total 574,861 564,884  
Current fiscal year, charge-offs 0 0  
Fiscal year before current fiscal year, charge-offs 0 23  
Two year before current fiscal year, charge-offs 20 52  
Three year before current fiscal year, charge-offs 7 88  
Four year before current fiscal year, charge-offs 0 0  
Prior, charge-offs 57 39  
Revolving term loans, charge-offs 843 110  
Revolving Loans 0 11  
Total charge-offs 927 323  
Consumer | Home equity | Performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 12,301 13,552  
Fiscal year before current fiscal year 10,393 21,845  
Two year before current fiscal year 16,623 16,136  
Three year before current fiscal year 12,032 5,110  
Four year before current fiscal year 4,444 1,902  
Prior 7,546 9,210  
Revolving Term Loans 32,721 18,657  
Revolving Loans 470,524 470,753  
Total 566,584 557,165  
Consumer | Home equity | Non–performing      
Financing Receivable, Credit Quality Indicator [Line Items]      
Current fiscal year 0 0  
Fiscal year before current fiscal year 236 421  
Two year before current fiscal year 614 426  
Three year before current fiscal year 653 0  
Four year before current fiscal year 53 30  
Prior 173 296  
Revolving Term Loans 6,548 6,465  
Revolving Loans 0 81  
Total $ 8,277 $ 7,719  
v3.25.4
Allowance for Credit and Loan Losses - Schedule of Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period $ 51,980 $ 50,029 $ 50,464
Credit loss expense (recovery) 2,243 3,854 2,090
Charge-offs (6,607) (3,708) (4,286)
Recoveries 3,683 1,805 1,761
Balance, end of period 51,299 51,980 50,029
Mortgage warehouse      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period 0 481 1,020
Credit loss expense (recovery) 0 (481) (539)
Charge-offs 0 0 0
Recoveries 0 0 0
Balance, end of period 0 0 481
Commercial      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period 30,953 29,736 32,445
Credit loss expense (recovery) 5,286 1,018 (1,765)
Charge-offs (953) (154) (1,403)
Recoveries 187 353 459
Balance, end of period 35,473 30,953 29,736
Real estate      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period 2,715 2,503 5,577
Credit loss expense (recovery) 468 184 (3,107)
Charge-offs (1,062) (5) (48)
Recoveries 1,062 33 81
Balance, end of period 3,183 2,715 2,503
Consumer      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance, beginning of period 18,312 17,309 11,422
Credit loss expense (recovery) (3,511) 3,133 7,501
Charge-offs (4,592) (3,549) (2,835)
Recoveries 2,434 1,419 1,221
Balance, end of period $ 12,643 $ 18,312 $ 17,309
v3.25.4
Allowance for Credit and Loan Losses - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Receivables [Abstract]      
Accrued interest $ 23.7 $ 25.6 $ 23.7
v3.25.4
Allowance for Credit and Loan Losses - Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Off-Balance-Sheet, Credit Loss, Liability [Roll Forward]      
Balance, beginning of period $ 2,149 $ 615 $ 403
Credit loss expense (reversal) (309) 1,534 212
Ending balance 1,840 2,149 615
Mortgage Warehouse      
Off-Balance-Sheet, Credit Loss, Liability [Roll Forward]      
Balance, beginning of period 0 0 0
Credit loss expense (reversal) 0 0 0
Ending balance 0 0 0
Commercial      
Off-Balance-Sheet, Credit Loss, Liability [Roll Forward]      
Balance, beginning of period 1,385 0 0
Credit loss expense (reversal) (317) 1,385 0
Ending balance 1,068 1,385 0
Real Estate      
Off-Balance-Sheet, Credit Loss, Liability [Roll Forward]      
Balance, beginning of period 61 64 161
Credit loss expense (reversal) 31 (3) (97)
Ending balance 92 61 64
Consumer      
Off-Balance-Sheet, Credit Loss, Liability [Roll Forward]      
Balance, beginning of period 703 551 242
Credit loss expense (reversal) (23) 152 309
Ending balance $ 680 $ 703 $ 551
v3.25.4
Premises and Equipment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Total cost $ 168,737 $ 163,876  
Accumulated depreciation (75,932) (70,012)  
Net premises and equipment 92,805 93,864  
Depreciation 6,000 5,800 $ 5,900
Land      
Property, Plant and Equipment [Line Items]      
Total cost 31,106 31,310  
Buildings and improvements      
Property, Plant and Equipment [Line Items]      
Total cost 93,806 91,911  
Furniture and equipment      
Property, Plant and Equipment [Line Items]      
Total cost $ 43,825 $ 40,655  
v3.25.4
Loan Servicing - Additional Information (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Unpaid principal balances of loans serviced for others totaled $ 1,412 $ 1,438
Minimum | Measurement Input, Discount Rate    
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Servicing asset, measurement input 0.085 0.090
Minimum | Measurement Input, Prepayment Rate    
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Servicing asset, measurement input 0.064 0.056
Maximum | Measurement Input, Discount Rate    
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Servicing asset, measurement input 0.110 0.115
Maximum | Measurement Input, Prepayment Rate    
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Line Items]    
Servicing asset, measurement input 0.120 0.133
v3.25.4
Loan Servicing - Schedule of Originated Mortgage Servicing Rights (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Mortgage servicing rights      
Beginning balance $ 18,195 $ 18,807 $ 18,619
Servicing rights capitalized 1,434 1,359 1,220
Amortization of servicing rights (2,095) (1,971) (1,032)
Ending balance 17,534 18,195 18,807
Beginning balance 0 0 0
Additions 0 0 0
Reductions 0 0 0
Ending balance 0 0 0
Mortgage servicing rights, net 17,534 18,195 18,807
Fair value, beginning of period 19,766 19,891 19,992
Fair value, end of period $ 17,547 $ 19,766 $ 19,891
v3.25.4
Goodwill - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]      
Acquisition of goodwill $ 155,211,000 $ 155,211,000  
Goodwill impairment loss 0 0  
Core deposit intangible amortization $ 3,044,000 $ 3,403,000 $ 3,612,000
Minimum | Core deposit intangible      
Finite-Lived Intangible Assets [Line Items]      
Core deposit intangible amortization period 7 years    
Maximum | Core deposit intangible      
Finite-Lived Intangible Assets [Line Items]      
Core deposit intangible amortization period 10 years    
Weighted Average | Core deposit intangible      
Finite-Lived Intangible Assets [Line Items]      
Core deposit intangible amortization period 3 years 4 months 2 days 4 years 1 month 20 days  
v3.25.4
Goodwill - Schedule of Amortizable Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount $ 7,200  
Core deposit intangible    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Amount 33,633 $ 33,633
Accumulated Amortization $ (26,453) $ (23,410)
v3.25.4
Goodwill - Schedule of Estimated Amortization (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]  
2026 $ 2,566
2027 2,119
2028 1,754
2029 512
2030 136
Thereafter 92
Estimated amortization $ 7,179
v3.25.4
Deposits - Schedule of Deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deposits [Line Items]    
Non interest-bearing demand deposits $ 1,078,708 $ 1,064,818
Interest-bearing demand deposits 1,639,857 1,767,984
Money market 831,631 960,008
Savings deposits 622,743 718,689
Certificates of deposit of less than $250,000 539,840 539,792
Total interest-bearing deposits 4,196,709 4,535,834
Total deposits 5,275,417 5,600,652
Certificates of deposit of $250,000 or more    
Deposits [Line Items]    
Certificates of deposit of $250,000 or more $ 562,638 $ 549,361
v3.25.4
Deposits - Additional Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deposits [Line Items]    
Time deposits, $100,000 or more $ 807,000 $ 775,700
Total deposits 5,275,417 5,600,652
Director And Executive Officers    
Deposits [Line Items]    
Total deposits $ 1,100 $ 1,300
v3.25.4
Deposits - Schedule of Certificates and Other Time Deposits for Both Retail and Brokered (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Time Deposits By Maturity [Line Items]  
2026 $ 910,467
2027 77,216
2028 84,306
2029 3,794
2030 26,695
Thereafter 0
Certificates and other time deposits 1,102,478
Retail  
Time Deposits By Maturity [Line Items]  
2026 820,434
2027 12,216
2028 4,306
2029 3,794
2030 1,695
Thereafter 0
Certificates and other time deposits 842,445
Brokered  
Time Deposits By Maturity [Line Items]  
2026 90,033
2027 65,000
2028 80,000
2029 0
2030 25,000
Thereafter 0
Certificates and other time deposits $ 260,033
v3.25.4
Repurchase Agreements - Schedule of Repurchase Agreements Accounted as Secured Borrowings the Related Securities, at Fair Value, Pledged (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements $ 88,468 $ 89,912
Repurchase Agreements subject to offsetting arrangements 0 0
Overnight and Continuous    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements 88,468 89,912
Up to 30 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements 0 0
30-90 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements 0 0
Greater Than 90 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements 0 0
U.S. Treasury, federal agencies, and government sponsored agencies    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements   34,191
U.S. Treasury, federal agencies, and government sponsored agencies | Overnight and Continuous    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements   34,191
U.S. Treasury, federal agencies, and government sponsored agencies | Up to 30 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements   0
U.S. Treasury, federal agencies, and government sponsored agencies | 30-90 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements   0
U.S. Treasury, federal agencies, and government sponsored agencies | Greater Than 90 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements   0
U.S. government agency mortgage-backed securities    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements 88,468 55,721
U.S. government agency mortgage-backed securities | Overnight and Continuous    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements 88,468 55,721
U.S. government agency mortgage-backed securities | Up to 30 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements 0 0
U.S. government agency mortgage-backed securities | 30-90 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements 0 0
U.S. government agency mortgage-backed securities | Greater Than 90 Days    
Assets Sold under Agreements to Repurchase [Line Items]    
Total Repurchase Agreements $ 0 $ 0
v3.25.4
Repurchase Agreements - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Disclosure of Repurchase Agreements [Abstract]    
Securities loaned, gross including not subject to master netting arrangement $ 90.7 $ 96.8
v3.25.4
Subordinated Notes (Details)
Oct. 01, 2025
USD ($)
Aug. 29, 2025
USD ($)
Dec. 08, 2023
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Jun. 24, 2020
USD ($)
Debt Instrument, Redemption [Line Items]            
Debt instrument, face amount           $ 60,000,000.0
Interest rate on junior subordinated debentures and securities           5.625%
Redemption price, percentage   100.00%        
Debt extinguished $ 56,500,000          
Extinguishment of debt, price to par     0.895      
Unamortized debt issuance costs       $ 1,800,000 $ 800,000  
Subordinated Debt            
Debt Instrument, Redemption [Line Items]            
Debt issuance costs, net       $ 98,200,000 $ 55,700,000  
Secured Debt            
Debt Instrument, Redemption [Line Items]            
Debt extinguished     $ 3,500,000      
Gain on extinguishment     $ 400,000      
2035 Notes | Subordinated Debt            
Debt Instrument, Redemption [Line Items]            
Debt instrument, face amount   $ 100,000,000.0        
Interest rate on junior subordinated debentures and securities   7.00%        
Junior subordinated debentures and the securities variable rate   3.60%        
v3.25.4
Junior Subordinated Debentures Issued to Capital Trusts (Details) - USD ($)
$ in Millions
 1 Months Ended
Dec. 31, 2006
Oct. 31, 2004
Jun. 30, 2004
Mar. 31, 2004
Oct. 31, 2003
Jun. 30, 2003
Dec. 31, 2025
Jun. 24, 2020
Subordinate Debenture [Line Items]                
Interest rate on junior subordinated debentures and securities               5.625%
Related Party                
Subordinate Debenture [Line Items]                
Trust preferred capital securities sold         $ 19.0      
Junior subordinated debentures and the securities variable rate         2.95%      
Interest rate on junior subordinated debentures and securities             6.88%  
Subordinated notes             $ 18.5  
Horizon Statutory Trust II                
Subordinate Debenture [Line Items]                
Trust preferred capital securities sold   $ 10.0            
Junior subordinated debentures and the securities variable rate   2.21%            
Interest rate on junior subordinated debentures and securities             6.09%  
Horizon Bancorp Capital Trust III                
Subordinate Debenture [Line Items]                
Trust preferred capital securities sold $ 12.0              
Junior subordinated debentures and the securities variable rate 1.91%              
Interest rate on junior subordinated debentures and securities             5.75%  
Alliance Financial Statutory Trust I                
Subordinate Debenture [Line Items]                
Trust preferred capital securities sold     $ 5.0          
Junior subordinated debentures and the securities variable rate     2.91%          
Interest rate on junior subordinated debentures and securities             6.62%  
Am Tru Statutory Trust I                
Subordinate Debenture [Line Items]                
Trust preferred capital securities sold       $ 3.5        
Junior subordinated debentures and the securities variable rate       2.85%        
Interest rate on junior subordinated debentures and securities             6.82%  
Heartland Trust                
Subordinate Debenture [Line Items]                
Trust preferred capital securities sold $ 3.0              
Junior subordinated debentures and the securities variable rate 1.93%              
Interest rate on junior subordinated debentures and securities             5.65%  
Subordinated notes             $ 2.3  
City Savings Trust                
Subordinate Debenture [Line Items]                
Trust preferred capital securities sold           $ 5.0    
Junior subordinated debentures and the securities variable rate           3.10%    
Interest rate on junior subordinated debentures and securities             7.05%  
Subordinated notes             $ 4.6  
v3.25.4
Borrowings - Schedule of Borrowings (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Jun. 24, 2020
Debt Instrument [Line Items]      
Federal Home Loan Bank advances, variable and fixed rates ranging from 2.63% to 3.78%, due at various dates through April 7, 2027 $ 150,075 $ 1,130,148  
Securities sold under agreements to repurchase, fixed rates ranging from 0.01% to 3.33%, due overnight and continuous 88,468 89,912  
Federal funds purchased 169 0  
Secured borrowings, fixed rates ranging from 3.75% to 9.00%, due at various dates through March 28, 2043 9,874 12,192  
Total borrowings $ 248,586 $ 1,232,252  
Interest rate on junior subordinated debentures and securities     5.625%
Minimum      
Debt Instrument [Line Items]      
Federal Home Loan Bank advances, variable and fixed rates 2.63%    
Securities sold under agreements to repurchase, interest rate, overnight and continuous 0.01%    
Interest rate on junior subordinated debentures and securities 3.75%    
Maximum      
Debt Instrument [Line Items]      
Federal Home Loan Bank advances, variable and fixed rates 3.78%    
Securities sold under agreements to repurchase, interest rate, overnight and continuous 3.33%    
Interest rate on junior subordinated debentures and securities 9.00%    
v3.25.4
Borrowings - Additional Information (Details)
$ in Billions
Dec. 31, 2025
USD ($)
Debt Disclosure [Abstract]  
Federal home loan bank, advances, weighted average interest rate 3.78%
Federal Home Loan Bank advances are secured by first and second mortgage loans and mortgage warehouse loans $ 2.5
Available credit lines with various money center banks $ 1.7
v3.25.4
Borrowings - Schedule of Contractual Maturities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Long-Term Debt, Fiscal Year Maturity [Abstract]    
2026 $ 91,506  
2027 150,066  
2028 0  
2029 6,148  
Thereafter 866  
Total borrowings $ 248,586 $ 1,232,252
v3.25.4
Non-Qualified Deferred Compensation Plan (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Assets held in rabbi trust $ 11,000 $ 10,700  
ESOP liability $ 11,000 10,700  
Service period 6 years    
Matching contribution $ 280 $ 433 $ 344
First Contribution      
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Employer matching contribution, percent of match 100.00%    
Employer matching contribution, percent of employees' gross pay 2.00%    
Remaining Contributions      
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Employer matching contribution, percent of match 50.00%    
Employer matching contribution, percent of employees' gross pay 4.00%    
v3.25.4
Employee Benefit Plans (Details) - Employee Thrift Plan - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Bank's expense related to the thrift plan $ 2.1 $ 1.7 $ 1.9
Thrift plan owns outstanding shares (in shares) 581,791    
Percentage of outstanding shares owns with thrift plan 1.10%    
v3.25.4
Income Tax - Schedule of Reconciliation of Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Currently payable      
Federal $ 21,195 $ 8,558 $ 14,980
State 13,606 363 (640)
Deferred      
Federal (72,848) (15,528) (3,393)
State (12,624) (1,472) 71
Income tax expense (benefit) $ (50,671) $ (8,079) $ 11,018
v3.25.4
Income Tax - Reconciliation of Effective Tax Rate (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Tax expense (benefit) calculated at the statutory federal income tax rate $ (42,242) $ 5,743 $ 8,190
State and local income tax, net of federal income tax effect (1,844) (1,185) 142
Tax credit investments, net of amortization (1,105) (1,290) (2,976)
Income not subject to tax      
Tax Exempt Interest (5,277) (6,427) (6,777)
Tax exempt BOLI income (417) (273) (779)
Nondeductible Expenses 227 404 628
Other, net (13) 150 (459)
Revaluation of deferred tax assets 0 (5,201) 5,201
BOLI redemption ordinary income 0 0 5,316
BOLI redemption excise 0 0 2,532
Income tax expense (benefit) $ (50,671) $ (8,079) $ 11,018
Percent      
Tax expense (benefit) calculated at the statutory federal income tax rate 21.00% 21.00% 21.00%
State and local income tax, net of federal income tax effect 1.00% (4.00%) 0.00%
Tax credit investments, net of amortization 1.00% (5.00%) (8.00%)
Income not subject to tax      
Tax Exempt Interest 3.00% (24.00%) (17.00%)
Tax exempt BOLI income 0.00% (1.00%) (2.00%)
Nondeductible Expenses 0.00% 1.00% 2.00%
Other, net 0.00% 1.00% (1.00%)
Revaluation of deferred tax assets 0.00% (19.00%) 13.00%
BOLI redemption ordinary income 0.00% 0.00% 14.00%
BOLI redemption excise 0.00% 0.00% 7.00%
Actual tax expense (benefit) 25.20% (29.50%) 28.20%
v3.25.4
Income Tax - Schedule of Reconciliation of Deferred Tax Assets & Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Allowance for credit losses $ 12,578 $ 12,590
Net operating loss and tax credits 461 10,805
Director and employee benefits 5,342 3,334
Unrealized loss on AFS securities and fair value hedge 20,482 29,355
Net capitalized expenses 96,561 0
Basis in partnership equity investments 2,649 1,940
Fair value adjustment on acquisitions 789 883
Other 2,613 2,938
Total assets 141,475 61,845
Liabilities    
Depreciation (4,213) (4,061)
Federal Home Loan Bank stock dividends (297) (353)
Difference in basis of intangible assets (5,821) (6,553)
Other (1,291) (1,003)
Total liabilities (11,622) (11,970)
Valuation allowance 0 0
Net deferred tax asset/(liability) $ 129,853 $ 49,875
v3.25.4
Income Tax - Income Taxes Paid (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Examination [Line Items]      
Federal $ 10,536 $ 10,710 $ 2,137
Income taxes paid 27,407 10,710 2,137
Indiana      
Income Tax Examination [Line Items]      
State 15,869 0 0
All others      
Income Tax Examination [Line Items]      
State $ 1,002 $ 0 $ 0
v3.25.4
Income Tax - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating Loss Carryforwards [Line Items]    
Investment tax credit $ 5,100 $ 7,500
Valuation allowance 0 $ 0
Previously acquired institutions amount of allocated income to bad debt deductions 12,800  
Unrecorded deferred income tax liability 2,700  
Federal | General Business Tax Credit Carryforward    
Operating Loss Carryforwards [Line Items]    
Tax credit carryforward $ 400  
v3.25.4
Stockholders' Equity - Schedule of Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Total accumulated other comprehensive income (loss) $ 688,251 $ 763,582 $ 718,812 $ 677,375
Unrealized gain (loss) on securities available for sale        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Total accumulated other comprehensive income (loss) (25,996) (38,193)    
Unamortized gain (loss) on securities held to maturity, previously transferred from AFS        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Total accumulated other comprehensive income (loss) 0 1,892    
Accumulated Other Comprehensive Loss        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Total accumulated other comprehensive income (loss) $ (25,996) $ (36,301) $ (66,609) $ (106,198)
v3.25.4
Stockholders' Equity - Narrative (Details)
$ / shares in Units, $ in Millions
Aug. 22, 2025
USD ($)
$ / shares
shares
2025 Public Offering  
Equity, Class of Treasury Stock [Line Items]  
Number of shares issued (in shares) 7,138,050
Shares issued, price per share (in USD per share) | $ / shares $ 14.50
Sale of stock, consideration received on transaction | $ $ 98
Over-Allotment Option  
Equity, Class of Treasury Stock [Line Items]  
Number of shares issued (in shares) 931,050
v3.25.4
Off-Balance Sheet Arrangements, Commitments, and Contingencies (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Commitments to extend credit $ 1,124,850 $ 1,018,302
Commitments under outstanding standby letters of credit 22,274 23,457
Total $ 1,147,124 $ 1,041,759
v3.25.4
Regulatory Capital - Schedule of Regulatory Capital Requirement (Details)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Total capital (to risk-weighted assets), actual, amount $ 762,541,000 $ 800,209,000
Total capital (to risk-weighted assets), actual, ratio 0.1436 0.1391
Total capital (to risk-weighted assets), for capital adequacy purposes, amount $ 424,791,000 $ 460,266,000
Total capital (to risk-weighted assets), For capital adequacy purposes, Ratio 0.0800 0.0800
Total capital (to risk-weighted assets), required for capital1 adequacy purposes with capital buffer, amount $ 557,538,000 $ 604,099,000
Total capital (to risk-weighted assets), required for capital1 adequacy purposes with capital buffer, ratio 10.50% 10.50%
Tier 1 capital (to average assets), actual, amount $ 611,186,000 $ 690,183,000
Tier 1 capital (to average assets), actual, ratio 0.1151 0.1200
Tier 1 capital (to average assets), for capital adequacy purposes, amount $ 318,593,000 $ 345,199,000
Tier 1 capital (to average assets), for capital adequacy purpose, ratio 0.0600 0.0600
Tier 1 capital (to average assets), required for capital1 adequacy purposes with capital buffer, amount $ 451,340,000 $ 489,033,000
Tier 1 capital (to average assets), required for capital1 adequacy purposes with capital buffer, ratio 8.50% 8.50%
Common equity tier 1 capital, actual amount $ 553,498,000 $ 632,760,000
Common equity tier 1 capital, actual ratio 0.1042 0.1111
Common equity tier 1 capital, for capital adequacy purposes, amount $ 238,945,000 $ 258,900,000
Common equity tier 1 capital, for capital adequacy purpose, ratio 4.50% 4.50%
Common equity tier 1 capital (to risk-weighted assets), required for capital1 adequacy purposes with capital buffer, amount $ 371,692,000 $ 402,733,000
Common equity tier 1 capital (to risk-weighted assets), required for capital1 adequacy purposes with capital buffer, ratio 7.00% 7.00%
Tier 1 capital (to average assets), actual, amount $ 611,186,000 $ 690,183,000
Tier 1 capital (to average assets), actual, ratio 0.0955 0.0888
Tier 1 capital (to average assets), for capital adequacy purposes, amount $ 256,006,000 $ 310,825,000
Tier 1 capital (to average assets), for capital adequacy purpose, ratio 0.0400 0.0400
Tier 1 capital (to average assets), required for capital1 adequacy purposes with capital buffer, amount $ 256,006,000 $ 310,825,000
Tier 1 capital (to average assets), required for capital1 adequacy purposes with capital buffer, ratio 4.00% 4.00%
Bank    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Total capital (to risk-weighted assets), actual, amount $ 687,316,000 $ 725,383,000
Total capital (to risk-weighted assets), actual, ratio 0.1299 0.1264
Total capital (to risk-weighted assets), for capital adequacy purposes, amount $ 423,209,000 $ 459,039,000
Total capital (to risk-weighted assets), For capital adequacy purposes, Ratio 0.0800 0.0800
Total capital (to risk-weighted assets), required for capital1 adequacy purposes with capital buffer, amount $ 555,461,000 $ 602,489,000
Total capital (to risk-weighted assets), required for capital1 adequacy purposes with capital buffer, ratio 10.50% 10.50%
Total capital (to risk-weighted assets), for well capitalized purpose, amount $ 529,011,000 $ 573,799,000
Total capital (to risk-weighted assets), for well capitalized purpose, ratio 0.1000 0.1000
Tier 1 capital (to average assets), actual, amount $ 634,176,000 $ 671,095,000
Tier 1 capital (to average assets), actual, ratio 0.1199 0.1170
Tier 1 capital (to average assets), for capital adequacy purposes, amount $ 317,407,000 $ 344,279,000
Tier 1 capital (to average assets), for capital adequacy purpose, ratio 0.0600 0.0600
Tier 1 capital (to average assets), required for capital1 adequacy purposes with capital buffer, amount $ 449,659,000 $ 487,729,000
Tier 1 capital (to average assets), required for capital1 adequacy purposes with capital buffer, ratio 8.50% 8.50%
Tier 1 capital (to average assets), for well capitalized purpose, amount $ 423,209,000 $ 459,039,000
Tier 1 capital (to average assets), for well capitalized purposes, ratio 0.0800 0.0800
Common equity tier 1 capital, actual amount $ 634,176,000 $ 671,095,000
Common equity tier 1 capital, actual ratio 0.1199 0.1170
Common equity tier 1 capital, for capital adequacy purposes, amount $ 238,055,000 $ 258,209,000
Common equity tier 1 capital, for capital adequacy purpose, ratio 4.50% 4.50%
Common equity tier 1 capital (to risk-weighted assets), required for capital1 adequacy purposes with capital buffer, amount $ 370,308,000 $ 401,659,000
Common equity tier 1 capital (to risk-weighted assets), required for capital1 adequacy purposes with capital buffer, ratio 7.00% 7.00%
Common equity tier 1 capital, for well capitalized purpose, amount $ 343,857,000 $ 372,969,000
Common equity tier 1 capital, for well capitalized purposes, ratio 6.50% 6.50%
Tier 1 capital (to average assets), actual, amount $ 634,176,000 $ 671,095,000
Tier 1 capital (to average assets), actual, ratio 0.0994 0.0864
Tier 1 capital (to average assets), for capital adequacy purposes, amount $ 255,282,000 $ 310,539,000
Tier 1 capital (to average assets), for capital adequacy purpose, ratio 0.0400 0.0400
Tier 1 capital (to average assets), required for capital1 adequacy purposes with capital buffer, amount $ 255,282,000 $ 310,539,000
Tier 1 capital (to average assets), required for capital1 adequacy purposes with capital buffer, ratio 4.00% 4.00%
Tier 1 capital (to average assets), for well capitalized purpose, amount $ 319,103,000 $ 388,174,000
Tier 1 capital (to average assets), for well capitalized purposes, ratio 0.0500 0.0500
v3.25.4
Share-Based Compensation - Additional Information (Details)
$ in Thousands
 12 Months Ended
Jan. 19, 2021
USD ($)
shares
Jun. 15, 2018
Dec. 31, 2025
USD ($)
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Jun. 18, 2013
shares
Schedule Of Stock Based Compensation [Line Items]            
Unrecognized compensation cost     $ 2,400      
Total assets     6,436,611 $ 7,801,146    
Exercised     126 418 $ 355  
Total fair value of shares vested     5,900 2,000 1,800  
Compensation expense     $ 1,600 4,600 3,600  
Weighted-average period cost over which cost is expected to be recognized     11 months      
Restricted and Performance Shares            
Schedule Of Stock Based Compensation [Line Items]            
Tax benefit associated with compensation expense     $ 340 963 753  
Actual tax benefit realized for the tax deductions     22 $ 72 $ 58  
Minimum | Performance Based Share Awards            
Schedule Of Stock Based Compensation [Line Items]            
Total assets $ 5,000,000   1,000,000      
Maximum | Performance Based Share Awards            
Schedule Of Stock Based Compensation [Line Items]            
Total assets $ 10,000,000   $ 5,000,000      
Option Activity Under the 2013 Plan            
Schedule Of Stock Based Compensation [Line Items]            
Maximum common issued under the plan (in shares) | shares           1,556,325
Number of shares available incentive stock options (in shares) | shares           225,000
Non-option awards granted (in shares) | shares           900,000
Stock split   1.5        
Granted (in shares) | shares     0 0 0  
Exercised     $ 126,429      
Option Activity Under the 2021 Plan            
Schedule Of Stock Based Compensation [Line Items]            
Maximum common issued under the plan (in shares) | shares 1,787,548          
Vesting period 3 years          
v3.25.4
Share-Based Compensation - Schedule of Option Activity (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Weighted- Average Exercise Price      
Exercised $ 126,000 $ 418,000 $ 355,000
Option Activity Under the 2013 Plan      
Shares      
Outstanding, beginning of year (in shares) 94,798    
Granted (in shares) 0 0 0
Exercised (in shares) (7,695)    
Forfeited (in shares) (1,500)    
Expired (in shares) 0    
Outstanding, end of year (in shares) 85,603 94,798  
Exercisable, end of year (in shares) 85,603    
Weighted- Average Exercise Price      
Outstanding, beginning of year (in dollars per share) $ 16.87    
Granted (in dollars per share) 0    
Exercised (in dollars per share) 10.38    
Forfeited (in dollars per share) 16.76    
Expired (in dollars per share) 0    
Outstanding, end of year (in dollars per share) 17.46 $ 16.87  
Exercisable, end of year (in dollars per share) $ 17.46    
Outstanding, weighted average remaining contractual term 2 years 2 years 10 months 2 days  
Exercisable, weighted average remaining contractual term 2 years    
Beginning balance, aggregate intrinsic value $ 56,985,000    
Ending balance, aggregate intrinsic value 14,805,000 $ 56,985,000  
Exercised 126,429,000    
Exercisable, aggregate intrinsic value $ 14,805,000    
v3.25.4
Share-Based Compensation - Schedule of Status of Non-vested, Restricted and Performance Shares (Details) - Restricted and Performance Shares - Option Activity Under the 2021 Plan
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Shares  
Non-vested, beginning of year (in shares) | shares 718,197
Vested (in shares) | shares (374,108)
Granted (in shares) | shares 146,436
Forfeited (in shares) | shares (34,021)
Non-vested, end of year (in shares) | shares 456,504
Weighted Average Grant Date Fair Value  
Non-vested, beginning of year (in dollars per share) | $ / shares $ 13.73
Vested (in dollars per share) | $ / shares 14.74
Granted (in dollars per share) | $ / shares 15.76
Forfeited (in dollars per share) | $ / shares 20.03
Non-vested, end of year (in dollars per share) | $ / shares $ 13.08
v3.25.4
Derivative Financial Instruments - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Derivative Asset, Statement of Financial Position [Extensible Enumeration]   Other assets
Gain on discontinuation of fair value hedge $ 2.3 $ 1.7
Mark-To-Market Adjustment $ 0.3  
v3.25.4
Derivative Financial Instruments - Schedule of Fair Value of Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Derivatives, Fair Value [Line Items]    
Derivative asset, notional amount $ 585,462 $ 534,531
Fair Value 14,059 29,046
Derivative liability, notional amount 471,530 521,520
Fair Value 13,672 28,817
Less: Gross amounts offset, notional amount 0 0
Total derivatives subject to enforceable master netting arrangements, net, notional amount 585,462 534,531
Less: Gross amounts offset, fair value 0 0
Total derivatives subject to enforceable master netting arrangements, net, fair value 14,059 29,046
Less: Gross amounts offset, notional amount 0 0
Total derivatives subject to enforceable master netting arrangements, net, notional amount 471,530 521,520
Less: Gross amounts offset, fair value 0 0
Total derivatives subject to enforceable master netting arrangements, net 13,672 28,817
Derivatives designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Derivative asset, notional amount 121,542 0
Fair Value 307 0
Derivative liability, notional amount 0
Fair Value 0 0
Derivatives designated as hedging instruments | Interest Rate Contract    
Derivatives, Fair Value [Line Items]    
Derivative asset, notional amount 121,542 0
Fair Value 307 0
Derivative liability, notional amount 0
Fair Value 0 0
Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Derivative asset, notional amount 463,920 534,531
Fair Value 13,752 29,046
Derivative liability, notional amount 471,530 521,520
Fair Value 13,672 28,817
Derivatives not designated as hedging instruments | Interest Rate Contract    
Derivatives, Fair Value [Line Items]    
Derivative asset, notional amount 460,276 521,520
Fair Value 13,658 28,817
Derivative liability, notional amount 460,276 521,520
Fair Value 13,658 28,817
Derivatives not designated as hedging instruments | Mortgage loan contracts    
Derivatives, Fair Value [Line Items]    
Derivative asset, notional amount 0 6,155
Fair Value 0 27
Derivative liability, notional amount 11,254 0
Fair Value 14 0
Derivatives not designated as hedging instruments | Commitments to originate mortgage loans    
Derivatives, Fair Value [Line Items]    
Derivative asset, notional amount 3,644 6,856
Fair Value 94 202
Derivative liability, notional amount 0 0
Fair Value $ 0 $ 0
v3.25.4
Derivative Financial Instruments - Schedule of Effect of the Derivative Designated as a Hedging Instrument on the Consolidated Statements of Income Derivative in Fair Value Hedging Relationship (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivatives designated as hedging instruments      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain (loss) recognized on derivative $ 25 $ 0 $ 0
Derivatives not designated as hedging instruments      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain (loss) recognized on derivative (150) 1 (76)
Interest Rate Contract | Derivatives designated as hedging instruments | Interest income - loans receivable      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain (loss) recognized on derivative 0 1,166 1,169
Interest Rate Contract | Derivatives designated as hedging instruments | Interest income - investment securities      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain (loss) recognized on derivative 332 (220) 240
Hedged item | Derivatives designated as hedging instruments | Interest income - loans receivable      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain (loss) recognized on derivative 0 (1,166) (1,169)
Hedged item | Derivatives designated as hedging instruments | Interest income - investment securities      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain (loss) recognized on derivative (307) 220 (240)
Mortgage loan contracts | Derivatives not designated as hedging instruments      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain (loss) recognized on derivative (42) 68 83
Commitments to originate mortgage loans | Derivatives not designated as hedging instruments      
Derivative Instruments, Gain (Loss) [Line Items]      
Amount of gain (loss) recognized on derivative $ (108) $ (67) $ (159)
v3.25.4
Derivative Financial Instruments - Amortized Cost and Cumulative Amount of Fair Value Heading Adjustments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Amortized Cost of Hedged Items $ 122,442 $ 0
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Items $ (307) $ 0
v3.25.4
Disclosures about Fair Value of Assets and Liabilities - Schedule of Fair Value Measurements of Assets and Liabilities Recognized on a Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets:    
Investment securities, available for sale $ 875,414 $ 233,677
Equity securities in other assets 7,871 595
Investment securities, held for trading 3,883 0
Interest rate swap agreements asset and liability    
Assets:    
Derivative asset 13,965 28,817
Liabilities:    
Derivative liability (13,658) (28,817)
Commitments to originate mortgage loans    
Assets:    
Derivative asset 94 202
Mortgage loans contracts    
Assets:    
Derivative asset   27
Liabilities:    
Derivative liability (14)  
U.S. Treasury, federal agencies, and government sponsored agencies    
Assets:    
Investment securities, available for sale 16,905 1,801
Investment securities, held for trading 3,883 0
State and municipal    
Assets:    
Investment securities, available for sale 319,665 201,834
Investment securities, held for trading 0 0
U.S. government agency mortgage-backed securities    
Assets:    
Investment securities, available for sale 494,174 14,543
Investment securities, held for trading 0 0
Corporate notes    
Assets:    
Investment securities, available for sale 44,670 15,499
Investment securities, held for trading 0 0
Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Assets:    
Investment securities, available for sale 0 0
Equity securities in other assets 7,871 595
Investment securities, held for trading 0  
Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate swap agreements asset and liability    
Assets:    
Derivative asset 0 0
Liabilities:    
Derivative liability 0 0
Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commitments to originate mortgage loans    
Assets:    
Derivative asset 0 0
Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage loans contracts    
Assets:    
Derivative asset   0
Liabilities:    
Derivative liability 0  
Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury, federal agencies, and government sponsored agencies    
Assets:    
Investment securities, available for sale 0 0
Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | State and municipal    
Assets:    
Investment securities, available for sale 0 0
Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government agency mortgage-backed securities    
Assets:    
Investment securities, available for sale 0 0
Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate notes    
Assets:    
Investment securities, available for sale 0 0
Recurring Basis | Significant Other Observable Inputs (Level 2)    
Assets:    
Investment securities, available for sale 871,543 233,677
Equity securities in other assets 0 0
Investment securities, held for trading 3,883  
Recurring Basis | Significant Other Observable Inputs (Level 2) | Interest rate swap agreements asset and liability    
Assets:    
Derivative asset 13,965 28,817
Liabilities:    
Derivative liability (13,658) (28,817)
Recurring Basis | Significant Other Observable Inputs (Level 2) | Commitments to originate mortgage loans    
Assets:    
Derivative asset 94 202
Recurring Basis | Significant Other Observable Inputs (Level 2) | Mortgage loans contracts    
Assets:    
Derivative asset   27
Liabilities:    
Derivative liability (14)  
Recurring Basis | Significant Other Observable Inputs (Level 2) | U.S. Treasury, federal agencies, and government sponsored agencies    
Assets:    
Investment securities, available for sale 16,905 1,801
Recurring Basis | Significant Other Observable Inputs (Level 2) | State and municipal    
Assets:    
Investment securities, available for sale 319,665 201,834
Recurring Basis | Significant Other Observable Inputs (Level 2) | U.S. government agency mortgage-backed securities    
Assets:    
Investment securities, available for sale 494,174 14,543
Recurring Basis | Significant Other Observable Inputs (Level 2) | Corporate notes    
Assets:    
Investment securities, available for sale 40,799 15,499
Recurring Basis | Significant Unobservable Inputs (Level 3)    
Assets:    
Investment securities, available for sale 3,871 0
Equity securities in other assets 0 0
Investment securities, held for trading 0  
Recurring Basis | Significant Unobservable Inputs (Level 3) | Interest rate swap agreements asset and liability    
Assets:    
Derivative asset 0 0
Liabilities:    
Derivative liability 0 0
Recurring Basis | Significant Unobservable Inputs (Level 3) | Commitments to originate mortgage loans    
Assets:    
Derivative asset 0 0
Recurring Basis | Significant Unobservable Inputs (Level 3) | Mortgage loans contracts    
Assets:    
Derivative asset   0
Liabilities:    
Derivative liability 0  
Recurring Basis | Significant Unobservable Inputs (Level 3) | U.S. Treasury, federal agencies, and government sponsored agencies    
Assets:    
Investment securities, available for sale 0 0
Recurring Basis | Significant Unobservable Inputs (Level 3) | State and municipal    
Assets:    
Investment securities, available for sale 0 0
Recurring Basis | Significant Unobservable Inputs (Level 3) | U.S. government agency mortgage-backed securities    
Assets:    
Investment securities, available for sale 0 0
Recurring Basis | Significant Unobservable Inputs (Level 3) | Corporate notes    
Assets:    
Investment securities, available for sale $ 3,871 $ 0
v3.25.4
Disclosures about Fair Value of Assets and Liabilities - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]      
Amortized Cost $ 908,829    
Debt securities, available-for-sale, allowance for credit loss, excluding accrued interest 120 $ 0 $ 0
Corporate notes      
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]      
Amortized Cost 5,000    
Debt securities, available-for-sale, transfer in, allowance for credit loss, expense 150    
Debt securities, available-for-sale, excluding accrued interest, allowance for credit loss, not previously recorded 2,100    
Total gains/losses included in earnings (subsequent ACL change - AFS securities) 30    
Debt securities, available-for-sale, allowance for credit loss, excluding accrued interest $ 120    
v3.25.4
Disclosures about Fair Value of Assets and Liabilities - Level 3 Instruments at Fair Value (Details) - Corporate notes
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Fair value beginning of year $ 0
Transfers into Level 3 (at fair value on transfer date) 2,787
Total gains/losses included in earnings (subsequent ACL change - AFS securities) 30
Total gains/losses included in OCI 1,054
Ending balance – December 31, 2025 $ 3,871
v3.25.4
Disclosures about Fair Value of Assets and Liabilities - Schedule of Other Assets Measured at Fair Value on Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]    
Collateral dependent loans $ 7,429 $ 3,797
Fair Value, Nonrecurring | Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]    
Collateral dependent loans 0 0
Fair Value, Nonrecurring | Significant Other Observable Inputs (Level 2)    
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]    
Collateral dependent loans 0 0
Fair Value, Nonrecurring | Significant Unobservable Inputs (Level 3)    
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]    
Collateral dependent loans $ 7,429 $ 3,797
v3.25.4
Disclosures about Fair Value of Assets and Liabilities - Schedule of Qualitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements, Other than Goodwill (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Collateral dependent loans $ 7,429 $ 3,797
Significant Unobservable Inputs (Level 3) | Valuation Technique, Collateral Based | Measurement Input, Discount Rate    
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Collateral dependent loans $ 7,429 $ 3,797
Minimum | Significant Unobservable Inputs (Level 3) | Valuation Technique, Collateral Based | Measurement Input, Discount Rate    
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Range (Weighted Average) 0.342 0.161
Maximum | Significant Unobservable Inputs (Level 3) | Valuation Technique, Collateral Based | Measurement Input, Discount Rate    
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Range (Weighted Average) 0.674 0.401
Weighted Average | Significant Unobservable Inputs (Level 3) | Valuation Technique, Collateral Based | Measurement Input, Discount Rate    
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Range (Weighted Average) 0.306 0.366
v3.25.4
Fair Value of Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 66,813 $ 92,300
Interest- bearing deposits in banks 72,646 201,131
Total cash and cash equivalents 139,459 293,431
Interest earning time deposits 0 735
Federal funds sold 0 1,867,848
Loans held for sale 9,778 67,597
Loans, net 4,825,243 4,795,060
Stock in FHLB 45,713 53,826
Interest receivable 29,733 39,747
Liabilities    
Non-interest bearing deposits 1,078,708 1,064,818
Interest bearing deposits 4,196,709 4,535,834
Short and long term borrowings 248,586 1,232,252
Interest payable 12,892 11,137
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring Basis    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 139,459  
Cash and due from banks   92,300
Interest- bearing deposits in banks   201,131
Federal funds sold   0
Total cash and cash equivalents   293,431
Interest earning time deposits 0 0
Federal funds sold 0 0
Loans held for sale 0 0
Loans, net 0 0
Stock in FHLB 0 0
Interest receivable 0  
Liabilities    
Non-interest bearing deposits 1,078,708 1,064,818
Interest bearing deposits 3,094,231 3,446,680
Short and long term borrowings 0 0
Subordinated notes 0 0
Junior subordinated debentures issued to capital trusts 0 0
Interest payable 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring Basis | Interest-Bearing Deposits    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 72,646  
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring Basis | Cash    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 66,813  
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring Basis | US Treasury Securities    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 0  
Significant Other Observable Inputs (Level 2) | Recurring Basis    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 0  
Cash and due from banks   0
Interest- bearing deposits in banks   0
Federal funds sold   0
Total cash and cash equivalents   0
Interest earning time deposits 0 735
Federal funds sold 0 1,566,268
Loans held for sale 0 64,824
Loans, net 0 0
Stock in FHLB 45,713 53,826
Interest receivable 29,733  
Liabilities    
Non-interest bearing deposits 0 0
Interest bearing deposits 1,100,237 1,084,986
Short and long term borrowings 248,580 1,230,860
Subordinated notes 98,835 55,284
Junior subordinated debentures issued to capital trusts 51,468 48,559
Interest payable 12,892 11,137
Significant Other Observable Inputs (Level 2) | Recurring Basis | Interest-Bearing Deposits    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 0  
Significant Other Observable Inputs (Level 2) | Recurring Basis | Cash    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 0  
Significant Other Observable Inputs (Level 2) | Recurring Basis | US Treasury Securities    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 0  
Significant Unobservable Inputs (Level 3) | Recurring Basis    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 0  
Cash and due from banks   0
Interest- bearing deposits in banks   0
Federal funds sold   0
Total cash and cash equivalents   0
Interest earning time deposits 0 0
Federal funds sold 0 0
Loans held for sale 9,778 2,773
Loans, net 4,695,231 4,611,702
Stock in FHLB 0 0
Interest receivable 0  
Liabilities    
Non-interest bearing deposits 0 0
Interest bearing deposits 0 0
Short and long term borrowings 0 0
Subordinated notes 0 0
Junior subordinated debentures issued to capital trusts 0 0
Interest payable 0 0
Significant Unobservable Inputs (Level 3) | Recurring Basis | Interest-Bearing Deposits    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 0  
Significant Unobservable Inputs (Level 3) | Recurring Basis | Cash    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 0  
Significant Unobservable Inputs (Level 3) | Recurring Basis | US Treasury Securities    
Assets    
Cash and Cash Equivalents, Fair Value Disclosure 0  
Carrying Amount    
Assets    
Cash and due from banks 66,813 92,300
Interest- bearing deposits in banks 72,646 201,131
Federal funds sold 0 0
Total cash and cash equivalents 139,459 293,431
Interest earning time deposits 0 735
Federal funds sold 0 1,867,690
Loans held for sale 9,778 67,597
Loans, net 4,825,243 4,795,060
Stock in FHLB 45,713 53,826
Interest receivable 29,733  
Liabilities    
Non-interest bearing deposits 1,078,708 1,064,818
Interest bearing deposits 4,196,709 4,535,834
Short and long term borrowings 248,586 1,232,252
Subordinated notes 98,215 55,738
Junior subordinated debentures issued to capital trusts 57,688 57,477
Interest payable $ 12,892 $ 11,137
v3.25.4
Condensed Financial Information (Parent Company Only) - Condensed Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Assets        
Total cash and cash equivalents $ 139,459 $ 293,431    
Other assets 215,460 152,635    
Total assets 6,436,611 7,801,146    
Liabilities        
Subordinated notes 98,215 55,738    
Junior subordinated debentures issued to capital trusts 57,688 57,477    
Other liabilities 55,562 80,308    
Stockholders’ Equity 688,251 763,582 $ 718,812 $ 677,375
Total liabilities and stockholders’ equity 6,436,611 7,801,146    
Parent Company        
Assets        
Total cash and cash equivalents 81,246 86,938    
Investment in subsidiaries 770,811 803,799    
Other assets 17,254 9,806    
Total assets 869,311 900,543    
Liabilities        
Subordinated notes 98,215 55,738    
Junior subordinated debentures issued to capital trusts 57,688 57,477    
Other liabilities 25,157 23,748    
Stockholders’ Equity 688,251 763,580    
Total liabilities and stockholders’ equity $ 869,311 $ 900,543    
v3.25.4
Condensed Financial Information (Parent Company Only) - Condensed Statements of Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income:      
Other income $ 133,293 $ 167,879 $ 136,561
Total interest income 362,777 356,483 312,305
Expenses:      
Interest expense 7,245 9,680 4,967
Salaries and employee benefit expense (89,737) (88,244) (80,809)
Income (Loss) Before Income Taxes (201,153) 27,350 38,999
Income Tax Benefit 50,671 8,079 (11,018)
Net Income (Loss) Available to Common Shareholders (150,482) 35,429 27,981
Parent Company      
Income:      
Dividend income from subsidiaries 40,000 38,000 55,500
Other income 9,653 7,906 8,226
Total interest income 40,343 38,117 55,931
Expenses:      
Interest expense 343 117 431
Salaries and employee benefit expense 2,101 5,351 3,502
Other expense 1,190 434 370
Total interest expense 12,944 13,691 12,098
Income Before Undistributed Income of Subsidiaries 27,399 24,426 43,833
Undistributed Income (loss) of Subsidiaries (181,244) 8,198 (17,838)
Income (Loss) Before Income Taxes (153,845) 32,624 25,995
Income Tax Benefit 3,363 2,805 1,986
Net Income (Loss) Available to Common Shareholders $ (150,482) $ 35,429 $ 27,981
v3.25.4
Condensed Financial Information (Parent Company Only) - Condensed Statements of Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Condensed Comprehensive Income [Line Items]      
Net Income (Loss) $ (150,482) $ 35,429 $ 27,981
Change in fair value of derivative instruments      
Change in fair value of derivative instruments for the period 0 0 (523)
Reclassification adjustment for swap termination (gains) realized in income 0 0 (1,453)
Income tax effect 0 0 415
Changes from derivative instruments 0 0 (1,561)
Change in securities:      
Unrealized gain (loss) for the period on AFS securities (284,181) (120) 20,728
Amortization (accretion) from transfer of securities from available for sale to held to maturity securities (2,395) (657) (691)
Reclassification adjustment for securities (gains) losses realized in income 299,538 39,140 32,052
Income tax effect (2,657) (8,055) (10,939)
Unrealized gains (losses) on securities 10,305 30,308 41,150
Other Comprehensive Income (Loss), Net of Tax 10,305 30,308 39,589
Comprehensive Income (Loss) (140,177) 65,737 67,570
Parent Company      
Condensed Comprehensive Income [Line Items]      
Net Income (Loss) (150,482) 35,429 27,981
Change in fair value of derivative instruments      
Change in fair value of derivative instruments for the period 0 0 (523)
Reclassification adjustment for swap termination (gains) realized in income 0 0 (1,453)
Income tax effect 0 0 415
Changes from derivative instruments 0 0 (1,561)
Change in securities:      
Unrealized gain (loss) for the period on AFS securities (284,181) (120) 20,728
Amortization (accretion) from transfer of securities from available for sale to held to maturity securities (2,395) (657) (691)
Reclassification adjustment for securities (gains) losses realized in income 299,538 39,140 32,052
Income tax effect (2,657) (8,055) (10,939)
Unrealized gains (losses) on securities 10,305 30,308 41,150
Other Comprehensive Income (Loss), Net of Tax 10,305 30,308 39,589
Comprehensive Income (Loss) $ (140,177) $ 65,737 $ 67,570
v3.25.4
Condensed Financial Information (Parent Company Only) - Condensed Statements of Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities      
Net Income (loss) $ (150,482) $ 35,429 $ 27,981
Change in:      
Share based compensation 1,621 4,586 3,586
Other assets 21,874 (9,698) 13,199
Other liabilities (25,586) 10,093 (21,671)
Net cash provided by operating activities 79,231 6,368 88,936
Investing Activities      
Net cash provided by (used in) investing activities 979,484 (52,776) 329,518
Financing Activities      
Dividends paid on common shares (29,488) (28,328) (28,311)
Net settlement of share awards (4,089) (1,371) (1,221)
Proceeds from issuance of common stock, net 97,950 0 0
Proceeds from issuance of subordinated notes, net 98,215 0 0
Repayment of subordinated notes (56,500) 0 (3,132)
Net cash used in financing activities (1,212,687) (186,676) (15,444)
Net Change in Cash and Cash Equivalents (153,972) (233,084) 403,010
Cash and Cash Equivalents, Beginning of Period 293,431 526,515 123,505
Cash and Cash Equivalents, End of Period 139,459 293,431 526,515
Parent Company      
Operating Activities      
Net Income (loss) (150,482) 35,429 27,981
Items not requiring (providing) cash      
Equity in undistributed net income of subsidiaries 181,244 (8,198) 17,838
Change in:      
Share based compensation 1,621 4,586 3,586
Other assets (8,026) (4,621) 7,184
Other liabilities 1,236 3,717 (413)
Net cash provided by operating activities 25,593 30,913 56,176
Investing Activities      
Capital contribution to subsidiary (138,108) 0 0
Other investing activities 735 1,829 1,762
Net cash provided by (used in) investing activities (137,373) 1,829 1,762
Financing Activities      
Other change in borrowings 0 0 378
Dividends paid on common shares (29,488) (28,328) (28,311)
Net settlement of share awards (4,089) (1,371) (1,221)
Proceeds from issuance of common stock, net 97,950 0 0
Proceeds from issuance of subordinated notes, net 98,215 0 0
Repayment of subordinated notes (56,500) 0 (3,132)
Other 0 4,146 0
Net cash used in financing activities 106,088 (25,553) (32,286)
Net Change in Cash and Cash Equivalents (5,692) 7,189 25,652
Cash and Cash Equivalents, Beginning of Period 86,938 79,749 54,097
Cash and Cash Equivalents, End of Period $ 81,246 $ 86,938 $ 79,749
v3.25.4
Segment Reporting (Details)
 12 Months Ended
Dec. 31, 2025
reportable_segment
Segment Reporting [Abstract]  
Number of reportable segments 1