Horizon Bancorp Appoints Larry S. Magnesen to Board
Horizon Bancorp, Inc. (NASDAQ: HBNC) has appointed Larry S. Magnesen as an independent director on its Board of Directors, a role he officially took on this past October. This strategic move is set to bring fresh perspectives and extensive experience to the company's leadership team.
Experience and Background of Larry S. Magnesen
With a robust background in the banking sector spanning over four decades, Magnesen has served on Horizon Bank’s Board of Directors prior to his appointment. He has built a significant reputation as the retired Senior Vice President and Corporate Communications Director at Fifth Third Bank in Chicago, where he honed his skills in a variety of capacities including Chief Reputation Officer and Chief Marketing Officer. His previous roles at various banks, including Old Kent Bank and Citibank, highlight a career dedicated to excellence in retail and business banking.
Contributions to the Community
Beyond his corporate achievements, Larry has actively participated in community development through his involvement with non-profit organizations throughout the Midwest. His leadership roles with groups such as LISC Grand Rapids and Public Media Connect showcase his commitment to making a positive impact within the communities he serves.
Significance of Magnesen's Appointment
Thomas M. Prame, Horizon Bank's Chairman and CEO, noted the importance of Magnesen’s hire during this time of growth for Horizon. His insights into the banking industry are expected to be invaluable as the company continues to expand its footprint across its Midwest franchises. Prame expressed excitement about the potential contributions that Magnesen will bring to the boardroom discussions.
A Bright Future Ahead
In his new role, Magnesen will contribute to various committees, which include the Enterprise Risk Management, Credit Policy, and Fair Lending Committee, as well as the Wealth Committee. This diverse involvement reflects his multi-faceted expertise and dedication to ensuring Horizon's strategies align with its mission and vision.
About Horizon Bancorp, Inc.
Horizon Bancorp, Inc. (NASDAQ: HBNC) operates as a commercial bank holding company, managing assets worth approximately $7.7 billion. The bank is committed to serving its customers through an array of digital tools and branch services across the Midwest, focusing on fostering relationships grounded in trust and support.
Horizon offers a variety of services, including secured consumer lending, personal banking, and wealth management solutions, catering to both individual and business needs. The emphasis on community engagement and customer service is evident in the bank's strategic approach to lending, where commercial loans comprise over half of total loans issued.
Looking Ahead
With its headquarters in Michigan City and a strong presence in Indiana and Michigan, Horizon Bancorp is poised for continued success as it navigates the economic landscape while supporting the communities it serves. The leadership of Larry S. Magnesen is a step towards enhancing their operational strategies and community involvement.
Frequently Asked Questions
Who is Larry S. Magnesen?
Larry S. Magnesen is an experienced banking professional recently appointed as an independent director on Horizon Bancorp's Board with an extensive background in banking and corporate communications.
What does Horizon Bancorp do?
Horizon Bancorp, Inc. is a commercial bank holding company that provides a wide range of banking services and products to customers, primarily across the Midwest.
Why is Magnesen's appointment significant?
His appointment is significant because of his extensive experience in the banking industry, which will contribute valuable insights into Horizon's strategic decisions and community support efforts.
What committees will Magnesen serve on?
Magnesen will be serving on the Enterprise Risk Management, Credit Policy, and Fair Lending Committee, as well as the Wealth Committee, utilizing his expertise to guide Horizon's initiatives.
How does Horizon Bancorp support its communities?
Horizon Bancorp supports its communities through various banking products and services while also engaging in non-profit work and community service to improve local living standards.
