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Horizon Bancorp shareholders approve increase in authorized common shares

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Horizon Bancorp shareholders approve increase in authorized common shares

Shareholdersof Michigan City, Ind.-based Horizon Bancorp on May 6 approved the board's to increase the numberof authorized common shares from 22.5 million to 44 million.

According to a Form 8-K filed May10, 8,486,499 shares were voted infavor of the increase, while 1,147,666 were voted against and 152,224 abstained.

HorizonBancorp initiated the proposal to, among other things, raise additional capitaland use it as consideration in business acquisitions, including the recentlyannounced merger withKosciusko FinancialInc., as noted in the company's March 15 definitive filing.