Correction: Earns-Horizon Bancorp story

MICHIGAN CITY, Ind. (AP) - In a story Oct. 26 about Horizon Bancorp's earnings - generated by Automated Insights using data from Zacks Investment Research - The Associated Press erroneously compared split-adjusted earnings per share with an earnings estimate that was not split-adjusted.

A corrected version of the story is below:

Horizon Bancorp posts 3Q profit

Horizon Bancorp posts 3rd-quarter profit of $6.6 million

MICHIGAN CITY, Ind. (AP) - Horizon Bancorp (HBNC) on Wednesday reported third-quarter net income of $6.6 million.

The bank, based in Michigan City, Indiana, said it had earnings of 30 cents per share. Earnings, adjusted for one-time gains and costs, were 39 cents per share. Results reflect a 3-for-2 stock split. Removing the effect of the stock split, the company earned 45 cents per share, or 57 cents per share adjusted for one-time gains and costs.

On that unadjusted basis, the results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The bank holding company posted revenue of $34.5 million in the period.

Horizon Bancorp shares have increased 10 percent since the beginning of the year. The stock has risen 14 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HBNC at http://www.zacks.com/ap/HBNC

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Keywords: Horizon Bancorp, Earnings Report