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<a href="http://www.accessmylibrary.com/article-1G1-152650394/horizon-sell-its-msr.html" title="Facts and information about Horizon to Sell Its MSR Portfolio.(Horizon Bancorporation Inc. )(Indiana Bank and Trust Co.)(Brief article)">Horizon to Sell Its MSR Portfolio.(Horizon Bancorporation Inc. )(Indiana Bank and Trust Co.)(Brief article)</a>
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Horizon to Sell Its MSR Portfolio.(Horizon Bancorporation Inc. )(Indiana Bank and Trust Co.)(Brief article)
MICHIGAN CITY, IN -- Horizon Bancorp here said it has entered into an agreement to sell its mortgage servicing rights in a deal scheduled to close before the end of this quarter.
Horizon Bank said the MSR portfolio has a book value of approximately $1 million. The Indiana bank said it expects to generate a pretax gain of about $550,000 from the sale of "substantially all" of its mortgage servicing rights asset. The bank did not name the proposed buyer.
The Indiana bank is a locally owned, independent bank holding ...
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