Horizon Bancorp To Purchase All Assets Of 1st Mortgage Of Indiana, Inc.

(RTTNews) - Horizon Bancorp (HBNC), the parent company of Horizon Bank NA, announced that it has signed an asset purchase agreement to purchase all of the assets and assume certain liabilities of 1st Mortgage of Indiana, Inc. located in Indianapolis, Indiana.

Under the terms of the agreement, Horizon will purchase the assets of 1st Mortgage of Indiana in a 100% cash transaction. This transaction is expected to close within the next 30 days.

Horizon Bank's Executive Vice President, James Neff said, "We are extremely pleased to have this opportunity to expand our mortgage presence in the Indianapolis area. The addition of this team of mortgage experts, with their commitment to exceptional customer service, is a natural fit for our Company."