Horizon Bancorp, Inc. (NASDAQ:HBNC) Q4 2022 Earnings Call Transcript

Noe Najera: Yes, thank you for the question. And the first quarter outlook will be very similar to what we saw in the fourth quarter. As far as the pipeline, we obviously saw a decrease late in the year with the rising rate environment as the forecast for the pricing has stabilized somewhat. We still expect a few rate hikes, but — So we expect that will perform very similar to the fourth quarter as far as dollar wise.

Brian Martin: Okay, perfect. And last one was just on — maybe for Mark, on the margin. I think you said a little bit lower second quarter. And I guess is the — I guess is that the inflection point, Mark? Is the third quarter kind of in your mind today how we should — as assets begin to reprice trending higher, is that what I’m hearing or maybe I missed what you said there?

Mark Secor: No, I think that’s the trend as we have a lag in the asset repricing and we see — with the anticipation that rate increases will stop here in the first quarter and let the assets start to catch up. That would be the trajectory, Brian.

Brian Martin: Yes. Okay, perfect. Thanks for taking the questions and congratulations to Craig and Tom. Thanks.

Craig Dwight: Thank you, Brian.

Operator: And ladies and gentlemen, this concludes our question-and-answer session. I’d like to turn the conference back over to Mr. Dwight for any closing remarks.

Craig Dwight: Thank you, Rocco. In closing, we’d like to invite you to join us for our 2023 Virtual Investor Analyst Day on Tuesday, February 21st, starting at noon Eastern Time. Registration information will be sent out next week and we will post on the Investor Relations section of our website. Thank you for participating in today’s earnings call. And we look forward to speaking to you again at our Investor Day conference. Now I’ll turn the call back over to Rocco to close out the conference. Thank you.

Operator: Thank you, sir. This concludes today’s conference call. We thank you all for attending today’s presentation. You may now disconnect your lines and have a wonderful day.