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Horizon Bank Deal for Lafayette Community Bank is Completed

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The deal that folds Lafayette Community Bank into Horizon Bank is now officially complete and the Lafayette Community Bank name has faded into history.

Horizon Bancorp, the parent of Horizon Bank, says the acquisition of Lafayette Community Bancorp and its wholly-owned subsidiary Lafayette Community Bank in Indiana became effective September 1, 2017. Lafayette Community Bancorp merged into Horizon and simultaneously Lafayette Community Bank merged into Horizon Bank. As previously announced, the bank will operate exclusively under the name Horizon Bank.

As part of the transaction, Horizon Bank added four new branches to expand its branch network to 60 offices throughout northern and central Indiana and southern Michigan and Ohio. Craig Dwight is Chairman & CEO of Horizon Bank. He says, “We’re confident customers will be pleased that many of the familiar faces they’ve come to know and trust will remain with Horizon at their local branch, and they will still be completely invested in the Lafayette community.” Dwight adds, “Teaming up with the experienced banking professionals at Lafayette Community Bank has truly been a pleasure. They are a cohesive group of professionals committed to their customers and the community.”

Bradley Marley is President and Chief Executive Officer of Lafayette Community Bank. He says, “We are excited to team up with a company that covets the same values and culture ours has throughout the years. Horizon is a solid, growing company and we look forward to better serving the Lafayette community.”

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Dwight went on to further say, “Horizon Bank will add value to the customers served by Lafayette Community Bank with an expanded branch network; a more robust product line-up including advanced treasury management services for businesses; a wide range of mortgage products; higher lending limits; and service guarantees on loan approvals.”

Marley also added, “Local efforts will continue to be led by myself, Steve Hickman and Dick Murray, and we intend to establish a Greater Lafayette Advisory Board to maintain the pulse of the community.”

The companies are finalizing integration plans that include a systems integration and sign change expected to take place the weekend of September 23, 2017. As a result, customer accounts will automatically change to Horizon accounts with no action required on the part of the customer. Customer checks, direct deposits, payments, and account numbers will remain unchanged in order to make this transition as smooth as possible.

Horizon was advised by the law firm of Barnes & Thornburg LLP. Lafayette Community Bancorp was advised by Renninger & Associates, LLC and the law firm of SmithAmundsen LLC.

Horizon Bancorp is an independent, commercial bank holding company serving northern and central Indiana, southwest and central Michigan, and central Ohio through its commercial banking subsidiary Horizon Bank. Horizon also offers mortgage-banking services throughout the Midwest. Horizon Bancorp may be reached online at www.horizonbank.com.  Its common stock is traded on the NASDAQ Global Select Market under the symbol HBNC.