Horizon Bancorp reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company's total interest income was $19,765,000 compared to $17,439,000 a year ago. Net interest income was $16,523,000 compared to $14,129,000 a year ago. Income before income tax was $6,612,000 compared to $5,203,000 a year ago. Net income was $4,948,000 compared to $4,115,000 a year ago. The increase in net income from the previous year reflects an increase in interest income primarily due to loan growth and an increase in non-interest income due to an increase in gain on sale of loans, interchange fees and fiduciary activities partially offset by an increase in the provision expense. Net income available to common shareholders was $4,917,000 or $0.51 per diluted share compared to $4,052,000 or $0.45 per diluted share a year ago. Return on average assets was 0.96% compared to 0.93% a year ago. Return on average common stockholders' equity was 10.72% compared to 10.44% a year ago.

For the year, the company's total interest income was $76,205,000 compared to $74,886,000 a year ago. Net interest income was $62,983,000 compared to $61,383,000 a year ago. Income before income tax was $24,256,000 compared to $26,924,000 a year ago. Net income was $18,101,000 compared to $19,876,000 a year ago. The decrease in net income compared to the previous year was due to $1.3 million in expenses related to the Summit acquisition in 2014 and a decrease of $3.5 million in income from acquisition-related purchase accounting adjustments partially offset by an increase of $614,000 in income from the gain on sale of investment securities. Net income available to common shareholders was $17,968,000 or $1.90 per diluted share compared to $19,506,000 or $2.17 per diluted share a year ago. Book value per common share as on December 31, 2014 was $19.75 compared to $17.64 a year ago. Tangible book value per common share as on December 31, 2014 was $16.26 compared to $14.97 a year ago. Return on average assets was 0.93% compared to 1.13% a year ago. Return on average common stockholders' equity was 10.60% compared to 12.86% a year ago.

For the quarter, the company reported total net charge-offs of $636,000 compared to $859,000 a year ago.