SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 11, 1997
Horizon Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
Texas 0-25096 74-2412835
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
5800 North MoPac, Austin, Texas 78731
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(Address of principal executive offices)
Registrant's telephone number, including area code: (512)371-0700
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
Compass Bancshares, Inc. issued the following press release
regarding the registrant:
Compass Bancshares Inc. (CBSS) completed the
acquisition of Horizon Bancorp, Inc. (LOAN) and its
Horizon Bank & trust unit in Austin, Texas, in a stock
swap.
In a press release Thursday, Compass Bancshares said
it exchanged 888,889 of its shares for 1,388,757
outstanding shares and options to acquire 190,408 shares
of Horizon Bancorp, a Texas savings and loan holding
company.
Compass Bancshares said Horizon Bancorp has $162
million in assets and $150 million in deposits. The
transaction includes eight Horizon locations to be added
to Compass Bancshares' Texas franchise.
Compass Bancshares reported 1996 net income of $129
million.
Compass Bancshares is a bank holding company.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
HORIZON BANCORP, INC.
Registrant
By:________________________________
Charles S. Nichols, Jr.
Executive Vice President
By:________________________________
Paul A. Antrim
Executive Vice President and
Chief Financial Officer
Dated: March 12, 1997
