Horizon Bancorp purchase branch in Indiana

• Horizon Bank, a subsidiary of Horizon Bancorp NASDAQ:HBNC enters into agreement with First Farmers Financial OTCQX:FFMR to purchase certain loans and substantially all of the deposits of a single branch located at Indiana.
• The purchaser anticipates purchasing ~$5.0M in loans, subject to review and assuming ~$15M in deposits. Additionally, it will not purchase fixed assets or assuming the underlying lease for the First Farmers branch.