Horizon Bancorp Appoints New Chairman of the Board and Lead Director

  Horizon Bancorp Appoints New Chairman of the Board and Lead Director

Business Wire

MICHIGAN CITY, Ind. -- April 18, 2013

Horizon Bancorp (NASDAQ: HBNC) has named Craig M. Dwight its new Chairman of
the Board as well as Chief Executive Officer. Mr. Dwight has served as the
Company’s Chief Executive Officer since 2001, Director since 1998 and as
Chairman and Chief Executive Officer of the Company’s wholly owned subsidiary,
Horizon Bank NA since 1998. Mr. Dwight’s appointment will become effective
following the retirement of Robert C. Dabagia as Chairman and Director on June
30, 2013. Mr. Dabagia has served as Chairman since 1998, director of the
Company since 1986 and Director of the Company’s predecessor Citizens Bank
since 1980.

In addition, Horizon Bancorp’s Board of Directors approved an amendment to its
By-laws to establish the position of Lead Director whenever one person holds
both the Chairman and Chief Executive Officer positions. The Lead Director
will serve as a principal liaison between the independent Directors, all Board
members, the Chairman and Chief Executive Officer and other members of senior
management on matters including corporate policy, strategy and executive
management performance. The naming of a Lead Director has gained wide
acceptance during the past decade and the boards of many leading companies
have established this position to incorporate an additional level of
independence and leadership at the board level.

As a result of Mr. Dwight’s appointment as both Chairman and Chief Executive
Officer effective July 1, 2013, the Board of Directors has established the
Lead Director position effective as of that date. The Board of Directors, at
its April meeting, held a confidential ballot amongst the Board’s independent
directors. Daniel F. Hopp was unanimously elected to serve as Lead Director by
the Board of Directors. Mr. Hopp retired in June 2011 as Senior Vice
President, Corporate Affairs, and General Counsel of Whirlpool Corporation, a
Fortune 500 company located within Horizon’s market area. Mr. Hopp has
extensive knowledge and experience in manufacturing, management of a large and
complex organization, corporate law and the rules and regulations applicable
to large publicly traded companies. He has served on Horizon’s Board of
Directors since 2005 and on the Board of Directors of the Bank since 2004.

Horizon Bancorp is a locally owned, independent, commercial bank holding
company serving Northern and Central Indiana and Southwest Michigan through
its commercial banking subsidiary, Horizon Bank, which also operates under the
“Heartland Community Bank a Horizon Bank Company” name in certain markets.
Horizon also offers mortgage-banking services throughout the Midwest. Horizon
Bancorp may be reached online at www.accesshorizon.com. Its common stock is
traded on the NASDAQ Global Market under the symbol HBNC.

This press release may contain forward-looking statements regarding the
financial performance, business prospects, growth and operating strategies of
Horizon. For these statements, Horizon claims the protections of the safe
harbor for forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. Statements in this press release should be
considered in conjunction with the other information available about Horizon,
including the information in the filings we make with the Securities and
Exchange Commission. Forward-looking statements provide current expectations
or forecasts of future events and are not guarantees of future performance.
The forward-looking statements are based on management’s expectations and are
subject to a number of risks and uncertainties. We have tried, wherever
possible, to identify such statements by using words such as “anticipate,”
“estimate,” “project,” “intend,” “plan,” “believe,” “will” and similar
expressions in connection with any discussion of future operating or financial
performance. Although management believes that the expectations reflected in
such forward-looking statements are reasonable, actual results may differ
materially from those expressed or implied in such statements. Risks and
uncertainties that could cause actual results to differ materially include
risk factors relating to the banking industry and the other factors detailed
from time to time in Horizon’s reports filed with the Securities and Exchange
Commission, including those described in “Item 1A Risk Factors” of Part I of
Horizon’s Annual Report on Form 10-K for the fiscal year ended December 31,
2012. Undue reliance should not be placed on the forward-looking statements,
which speak only as of the date hereof. Horizon does not undertake, and
specifically disclaims any obligation, to publicly release the result of any
revisions that may be made to update any forward-looking statement to reflect
the events or circumstances after the date on which the forward-looking
statement is made, or reflect the occurrence of unanticipated events, except
to the extent required by law.

Contact:

Horizon Bancorp
Mark E. Secor, Chief Financial Officer
Phone: (219) 873-2611
Fax: (219) 874-9280
 
Press spacebar to pause and continue. Press esc to stop.