Horizon Bancorp, Inc. announced a $3.0 million pre-tax expense to its reserves to address a civil verdict against its subsidiary, Horizon Bank, regarding a 2018 vehicle repossession and credit reporting matter. The jury awarded approximately $3.0 million in total damages, including $2.5 million in punitive damages. The company intends to challenge the decision via an appeal. Horizon Bancorp, Inc. is a community bank holding company providing financial services.
