MICHIGAN CITY – Horizon Bancorp, the parent company for Horizon Bank, announced a record quarterly profit of $4.6 million, up 79 percent from one year ago.

President and CEO Craig Dwight said the bank had $988.6 million in loans at the end of March, up from $179 million the previous year.

Dwight said Horizon purchased Heartland Bancshares Inc. of Franklin, Ind., in the first quarter, and opened its third branch in Valparaiso. Horizon now has 30 branches in northern Indiana and southwest Michigan.