Horizon Bank Announces Equipment Finance Division led by Joel Mikolich

Rhea-AI Summary

Horizon Bank has announced the formation of a new equipment finance division, led by Joel Mikolich. The division will offer business equipment financing solutions to small and medium-sized businesses nationwide, aiming to enhance Horizon's services and promote profitable growth. Mikolich, a seasoned veteran of the industry, brings over 20 years of experience and a successful track record. The immediate goal is to build a well-rounded team and originations platform by Q4 2023, with operations expected to begin in early 2024.

MICHIGAN CITY, Ind., Oct. 30, 2023 (GLOBE NEWSWIRE) -- Horizon Bank announced today the formation of a new equipment finance division to be led by Joel Mikolich as the division President. The new division will provide business equipment financing solutions to small and medium sized businesses nationwide, while enhancing Horizon’s depth of services to its existing clients providing for continued profitable growth in Horizon’s Commercial platform.

Joel Mikolich is a seasoned veteran of the equipment finance industry with 20+ years of experience and a successful track record for leading banks into this strategic line of business. Throughout his career, Joel has provided innovative financing and developed successful teams that have assisted small and mid-sized companies obtain the funding and capital solutions necessary to fuel their growth.

“The entry into this business line strategically aligns with Horizon’s stated goal to continue to diversify our business model and revenue streams,” Chief Commercial Banking Officer, Lynn Kerber said. “We believe the success of this new division will be propelled by Horizon’s core commercial banking business that has served as trusted advisors to the unique financial needs of diverse industries for 150 years. This foundation, coupled with the experienced leadership brought by Joel will provide new and flexible financing solutions to our customers, while providing an additional revenue stream for the Bank to help maximize shareholder value."

The immediate goal for the new division is to build a well-rounded, experienced team and originations platform in the fourth quarter of 2023 with a target to be operational in early 2024.

“I am excited to leverage my industry network and experience to build out a team that shares my passion for providing customer-centric financing solutions that can be supported by the lending capacity of an established financial institution like Horizon Bank,” stated Mikolich.

About Horizon Bancorp, Inc.
Celebrating 150 years, Horizon Bancorp, Inc. is an independent, commercial bank holding company serving Indiana and Michigan through its commercial banking subsidiary, Horizon Bank. Horizon Bancorp, Inc. may be reached online at www.horizonbank.com. Its common stock is traded on the NASDAQ Global Select Market under the symbol HBNC.

Contact: Lynn Kerber
EVP, Chief Commercial Banking Officer
Phone: (219) 814-5815

FAQ

What did Horizon Bank announce?

Horizon Bank announced the formation of a new equipment finance division.

Who will lead the new division?

Joel Mikolich will be the President of the new equipment finance division.

What type of financing solutions will the division provide?

The division will offer business equipment financing solutions.

Who are the target customers for the new division?

The division aims to serve small and medium-sized businesses nationwide.

What is the goal of the new division?

The goal is to enhance Horizon's services and promote profitable growth.

What is Joel Mikolich's experience in the industry?

Joel Mikolich brings over 20 years of experience in the equipment finance industry.

When will the new division be operational?

The target is for the division to be operational in early 2024.

What is the immediate goal for the new division?

The immediate goal is to build a well-rounded team and originations platform by Q4 2023.

What is the strategic alignment of this business line for Horizon Bank?

The entry into this business line aligns with Horizon's goal to diversify their business model and revenue streams.

What value does Joel Mikolich bring to the new division?

Joel Mikolich brings experienced leadership and a successful track record to provide new and flexible financing solutions.