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Horizon Bancorp, Inc.

$19.78 +$3.24 (+19.59%)
NASDAQ · 11 Sep 2026 20:00 UTC
Previous Close
$19.76
Day Range
$19.59$20.15
Year Range
$14.97$21.04
Market Cap
1.02B
AVG Volume
560.96K
Trailing/Forward PE
-6.26/8.87
PEG ratio
-1.28
Dividend Yield
3.24%
Next Earnings Date
2026-10-28
Primary Exchange
NASDAQUS
Revenue (USD)
-300M-200M-100M0100M200M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Revenue (USD) by quarter
PeriodRevenue (USD)
26 Q2100.52M
26 Q197.89M
25 Q4100.75M
25 Q3-203.74M
25 Q2101.17M
25 Q1104.98M
24 Q463.11M
24 Q3101.36M
24 Q296.43M
24 Q194.47M
Net Income (USD)
-300M-200M-100M0100M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Net Income (USD) by quarter
PeriodNet Income (USD)
26 Q224.91M
26 Q126.17M
25 Q426.92M
25 Q3-221.99M
25 Q220.64M
25 Q123.94M
24 Q4-10.88M
24 Q318.18M
24 Q214.14M
24 Q113.99M
Operating Income (USD)
-300M-200M-100M0100M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Operating Income (USD) by quarter
PeriodOperating Income (USD)
26 Q230.74M
26 Q132.34M
25 Q434.32M
25 Q3-286.33M
25 Q224.39M
25 Q128.08M
24 Q4-21.93M
24 Q318.11M
24 Q215.87M
24 Q115.3M
EBITDA (USD)
-300M-200M-100M0100M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC EBITDA (USD) by quarter
PeriodEBITDA (USD)
26 Q230.74M
26 Q135.8M
25 Q435.03M
25 Q3-281.05M
25 Q227.33M
25 Q131.07M
24 Q4-18.75M
24 Q321.11M
24 Q218.86M
24 Q118.43M
Cash Flows (USD)
-75M-50M-25M025M50M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Cash Flows (USD) by quarter
PeriodCash Flows (USD)
26 Q233.22M
26 Q120.76M
25 Q432.63M
25 Q39.4M
25 Q218.13M
25 Q114.12M
24 Q4-50.17M
24 Q331M
24 Q215.09M
24 Q15.37M
EPS (USD)
-6-4-20224 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC EPS (USD) by quarter
PeriodEPS (USD)
26 Q20.49
26 Q10.51
25 Q40.53
25 Q3-4.69
25 Q20.47
25 Q10.54
24 Q4-0.25
24 Q30.41
24 Q20.32
24 Q10.32
Expenses (USD)
-10M010M20M30M40MSG&ACapex24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Expenses (USD) by quarter
PeriodExpenses (USD)
26 Q227.84M
26 Q127.44M
25 Q437.67M
25 Q325.55M
25 Q225.32M
25 Q124.83M
24 Q428.55M
24 Q324.31M
24 Q222.73M
24 Q122.77M
Cash & Debt (USD)
0500M1B1.5BCashLong Term DebtShort Term Debt24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Cash & Debt (USD) by quarter
PeriodCash & Debt (USD)
26 Q21.12B
26 Q168.35M
25 Q470.7M
25 Q3983.95M
25 Q2149.99M
25 Q1184.13M
24 Q4527.84M
24 Q3776.74M
24 Q2674.87M
24 Q1808.12M
Debt ratios
-10010203024 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Debt ratios by quarter
PeriodDebt ratios
26 Q24.13
26 Q1-1.71
25 Q4-1.78
25 Q32.18
25 Q215.45
25 Q115.86
24 Q420.62
24 Q314.05
24 Q218.88
24 Q114.29
Margins
0%50%100%150%24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Margins by quarter
PeriodMargins
26 Q274.2%
26 Q174.66%
25 Q474.38%
25 Q3115.16%
25 Q261.86%
25 Q163.53%
24 Q434.41%
24 Q355.58%
24 Q254.3%
24 Q154.72%
Return on Capital
-40%-30%-20%-10%0%10%24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Return on Capital by quarter
PeriodReturn on Capital
26 Q23.43%
26 Q13.74%
25 Q43.91%
25 Q3-33.6%
25 Q22.61%
25 Q13.09%
24 Q4-1.43%
24 Q32.41%
24 Q21.95%
24 Q11.94%
Shares Outstanding
020M40M60M24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Shares Outstanding by quarter
PeriodShares Outstanding
26 Q251.08M
26 Q150.99M
25 Q450.98M
25 Q347.31M
25 Q243.79M
25 Q143.78M
24 Q443.72M
24 Q343.71M
24 Q243.71M
24 Q143.66M
Dividends (USD)
00.511.5Apr 24Jul 24Oct 24Jan 25Apr 25Jul 25Oct 25Jan 26Apr 26Jul 26
HBNC Dividends (USD) by quarter
PeriodDividends (USD)
Jul 260.16
Apr 260.16
Jan 260.16
Oct 250.16
Jul 250.16
Apr 250.16
Jan 250.16
Oct 240.16
Jul 240.16
Apr 240.16
Employee Count
02505007501K2016201720182019202020212022202320242025
HBNC Employee Count by quarter
PeriodEmployee Count
2025465
2024841
2023818
2022852
2021843
2020761
2019839
2018716
2017701
2016665
Book Value Per Share (USD)
0510152024 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Book Value Per Share (USD) by quarter
PeriodBook Value Per Share (USD)
26 Q214.22
26 Q113.71
25 Q413.5
25 Q313.97
25 Q218.06
25 Q117.73
24 Q417.46
24 Q317.27
24 Q216.62
24 Q116.52
Total Assets (USD)
02B4B6B8B24 Q124 Q224 Q324 Q425 Q125 Q225 Q325 Q426 Q126 Q2
HBNC Total Assets (USD) by quarter
PeriodTotal Assets (USD)
26 Q26.57B
26 Q16.56B
25 Q46.44B
25 Q36.71B
25 Q27.65B
25 Q17.63B
24 Q47.8B
24 Q37.93B
24 Q27.91B
24 Q17.86B
PE Ratio
01020304050med 18.67Feb 24May 24Sep 24Dec 24Apr 25Jul 25Nov 25
HBNC PE Ratio by quarter
PeriodPE Ratio
Nov 2513.51
Oct 2513.17
Oct 2514.01
Oct 2512.87
Oct 2512.69
Oct 2513.4
Sep 2513.67
Sep 2513.93
Sep 2513.72
Sep 2514.05
Aug 2514.23
Aug 2513.21
Aug 2513.46
Aug 2514.68
Aug 2514.48
Jul 2515.07
Jul 2515.36
Jul 2515.15
Jul 2515.81
Jun 2514.94
Jun 2514.08
Jun 2514.08
Jun 2514.31
May 2514.32
May 2514.18
May 2515.24
May 2514.6
May 2518.63
Apr 2517.97
Apr 2516.72
Apr 2515.94
Apr 2516.4
Mar 2518.71
Mar 2518.86
Mar 2519.29
Mar 2533.09
Feb 2535.31
Feb 2534.75
Feb 2535.64
Feb 2536.16
Jan 2534.79
Jan 2534.33
Jan 2532.8
Jan 2531.08
Jan 2532.68
Dec 2433.34
Dec 2434.15
Dec 2436.45
Dec 2437.15
Nov 2437.9
Nov 2438.37
Nov 2437.86
Nov 2441.17
Nov 2436.83
Oct 2436.37
Oct 2435.85
Oct 2434.82
Oct 2433.88
Sep 2434.13
Sep 2436.05
Sep 2436.17
Sep 2435.39
Aug 2436.62
Aug 2436.07
Aug 2434.29
Aug 2432.44
Aug 2427
Jul 2430.1
Jul 2427.01
Jul 2424.97
Jul 2421.87
Jun 2422.75
Jun 2421.61
Jun 2421.3
Jun 2421.79
May 2422.47
May 2422.51
May 2423.43
May 2423.26
May 2419.45
Apr 2418.19
Apr 2418.47
Apr 2418.02
Apr 2418.55
Mar 2420.01
Mar 2419.17
Mar 2418.49
Mar 247.34
Mar 247.03
Feb 247.1
Feb 247.47
Feb 247.35
Feb 247.45
Jan 248.07
Jan 247.91
Jan 247.75
Jan 248.26
Dec 238.4
Dec 238.33
Dec 238.12
Free Cash Flow Yield
-5%0%5%10%med 1.93%Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
HBNC Free Cash Flow Yield by quarter
PeriodFree Cash Flow Yield
Sep 269.5%
Sep 269.44%
Aug 269.61%
Aug 269.61%
Aug 269.14%
Aug 269.21%
Jul 267.76%
Jul 267.91%
Jul 267.82%
Jul 268.11%
Jul 268.02%
Jun 267.82%
Jun 268.21%
Jun 268.04%
Jun 268.46%
May 268.56%
May 268.65%
May 269.02%
May 268.58%
May 267.95%
Apr 268.17%
Apr 268.09%
Apr 268.23%
Apr 268.69%
Mar 268.99%
Mar 269.22%
Mar 269.17%
Mar 26-1.11%
Feb 26-1.07%
Feb 26-1%
Feb 26-1%
Feb 26-0.97%
Jan 26-1.02%
Jan 26-1.02%
Jan 26-1.03%
Jan 26-1.06%
Jan 26-1.09%
Dec 25-1.03%
Dec 25-1%
Dec 25-0.98%
Dec 25-1.04%
Nov 25-1.05%
Nov 25-1.1%
Nov 25-1.12%
Nov 251.87%
Oct 251.91%
Oct 251.8%
Oct 251.96%
Oct 251.98%
Oct 251.88%
Sep 251.84%
Sep 251.81%
Sep 251.84%
Sep 251.79%
Aug 251.77%
Aug 251.91%
Aug 251.87%
Aug 251.51%
Aug 251.53%
Jul 251.47%
Jul 251.44%
Jul 251.46%
Jul 251.4%
Jun 251.48%
Jun 251.57%
Jun 251.57%
Jun 251.55%
May 251.54%
May 251.56%
May 251.45%
May 251.51%
May 250.19%
Apr 250.2%
Apr 250.22%
Apr 250.23%
Apr 250.22%
Mar 250.19%
Mar 250.19%
Mar 250.19%
Mar 259.33%
Feb 258.74%
Feb 258.88%
Feb 258.66%
Feb 258.53%
Jan 258.87%
Jan 258.99%
Jan 259.41%
Jan 259.93%
Jan 259.44%
Dec 249.26%
Dec 249.04%
Dec 248.47%
Dec 248.31%
Nov 248.14%
Nov 248.04%
Nov 248.15%
Nov 247.97%
Nov 248.92%
Oct 249.03%
Oct 249.16%
Price to Sales
051015med 2.16Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
HBNC Price to Sales by quarter
PeriodPrice to Sales
Sep 2610.59
Sep 2610.66
Aug 2610.47
Aug 2610.46
Aug 2611.01
Aug 2610.93
Jul 2610.85
Jul 2610.65
Jul 2610.77
Jul 2610.39
Jul 2610.5
Jun 2610.77
Jun 2610.26
Jun 2610.48
Jun 269.95
May 269.84
May 269.73
May 269.34
May 269.81
May 269.05
Apr 268.81
Apr 268.9
Apr 268.75
Apr 268.28
Mar 268.01
Mar 267.81
Mar 267.85
Mar 2611.76
Feb 2612.16
Feb 2613.05
Feb 2613
Feb 2613.42
Jan 2612.72
Jan 2612.71
Jan 2612.64
Jan 2612.3
Jan 2611.94
Dec 2512.61
Dec 2513.05
Dec 2513.34
Dec 2512.48
Nov 2512.38
Nov 2511.83
Nov 2511.65
Nov 251.89
Oct 251.84
Oct 251.96
Oct 251.8
Oct 251.78
Oct 251.88
Sep 251.91
Sep 251.95
Sep 251.92
Sep 251.97
Aug 251.99
Aug 251.85
Aug 251.88
Aug 251.82
Aug 251.8
Jul 251.87
Jul 251.9
Jul 251.88
Jul 251.96
Jun 251.85
Jun 251.75
Jun 251.75
Jun 251.77
May 251.78
May 251.76
May 251.89
May 251.81
May 251.86
Apr 251.79
Apr 251.67
Apr 251.59
Apr 251.64
Mar 251.87
Mar 251.88
Mar 251.92
Mar 251.97
Feb 252.1
Feb 252.07
Feb 252.12
Feb 252.15
Jan 252.07
Jan 252.05
Jan 251.95
Jan 251.85
Jan 251.95
Dec 241.99
Dec 242.04
Dec 242.17
Dec 242.21
Nov 242.26
Nov 242.29
Nov 242.26
Nov 242.29
Nov 242.05
Oct 242.02
Oct 242
EV/EBITDA
010203040med 28.28Feb 24May 24Sep 24Dec 24Apr 25Jul 25Nov 25
HBNC EV/EBITDA by quarter
PeriodEV/EBITDA
Nov 2526.98
Oct 2526.69
Oct 2527.42
Oct 2526.44
Oct 2526.29
Oct 2526.9
Sep 2527.13
Sep 2527.34
Sep 2527.16
Sep 2527.45
Aug 2527.6
Aug 2526.73
Aug 2526.95
Aug 2528.6
Aug 2528.43
Jul 2528.94
Jul 2529.19
Jul 2529.01
Jul 2529.58
Jun 2528.83
Jun 2528.08
Jun 2528.08
Jun 2528.28
May 2528.28
May 2528.17
May 2529.09
May 2528.53
May 2537.27
Apr 2536.67
Apr 2535.56
Apr 2534.87
Apr 2535.27
Mar 2537.34
Mar 2537.47
Mar 2537.85
Mar 2530.35
Feb 2531.44
Feb 2531.16
Feb 2531.6
Feb 2531.86
Jan 2531.18
Jan 2530.96
Jan 2530.2
Jan 2529.36
Jan 2530.14
Dec 2430.47
Dec 2430.87
Dec 2432
Dec 2432.35
Nov 2432.72
Nov 2432.95
Nov 2432.7
Nov 2437.56
Nov 2435.59
Oct 2435.38
Oct 2435.14
Oct 2434.68
Oct 2434.25
Sep 2434.37
Sep 2435.24
Sep 2435.29
Sep 2434.94
Aug 2435.5
Aug 2435.25
Aug 2434.44
Aug 2433.6
Aug 2428.09
Jul 2429.68
Jul 2428.1
Jul 2427.05
Jul 2425.47
Jun 2425.92
Jun 2425.33
Jun 2425.17
Jun 2425.43
May 2425.78
May 2425.79
May 2426.26
May 2426.18
May 249.9
Apr 249.2
Apr 249.36
Apr 249.11
Apr 249.4
Mar 2410.2
Mar 249.74
Mar 249.37
Mar 2410.45
Mar 2410.2
Feb 2410.26
Feb 2410.55
Feb 2410.46
Feb 2410.54
Jan 2411.03
Jan 2410.9
Jan 2410.78
Jan 2411.18
Dec 2311.29
Dec 2311.24
Dec 2311.07
Price/Operating Cashflow
0255075100125med 11.42Aug 24Dec 24Mar 25Jul 25Oct 25May 26Sep 26
HBNC Price/Operating Cashflow by quarter
PeriodPrice/Operating Cashflow
Sep 2610.27
Sep 2610.33
Aug 2610.15
Aug 2610.15
Aug 2610.68
Aug 2610.6
Jul 2612.3
Jul 2612.07
Jul 2612.21
Jul 2611.78
Jul 2611.9
Jun 2612.21
Jun 2611.64
Jun 2611.88
Jun 2611.28
May 2611.16
May 2611.03
May 2610.59
May 2611.12
May 2611.79
Apr 2611.47
Apr 2611.59
Apr 2611.39
Apr 2610.78
Mar 2610.43
Mar 2610.17
Mar 2610.22
Nov 2537.57
Oct 2536.63
Oct 2538.98
Oct 2535.81
Oct 2535.32
Oct 2537.29
Sep 2538.04
Sep 2538.75
Sep 2538.16
Sep 2539.1
Aug 2539.59
Aug 2536.75
Aug 2537.45
Aug 2544.22
Aug 2543.61
Jul 2545.38
Jul 2546.25
Jul 2545.64
Jul 2547.62
Jun 2545
Jun 2542.42
Jun 2542.42
Jun 2543.09
May 2543.11
May 2542.71
May 2545.9
May 2543.99
May 25103.67
Apr 2599.97
Apr 2593.03
Apr 2588.71
Apr 2591.25
Mar 25104.08
Mar 25104.91
Mar 25107.31
Mar 2510.01
Feb 2510.68
Feb 2510.51
Feb 2510.78
Feb 2510.94
Jan 2510.53
Jan 2510.39
Jan 259.92
Jan 259.4
Jan 259.89
Dec 2410.09
Dec 2410.33
Dec 2411.03
Dec 2411.24
Nov 2411.47
Nov 2411.61
Nov 2411.45
Nov 2411.7
Nov 2410.47
Oct 2410.34
Oct 2410.19
Oct 249.89
Oct 249.63
Sep 249.7
Sep 2410.25
Sep 2410.28
Sep 2410.06
Aug 2410.41
Aug 2410.25
Aug 249.74
Aug 249.22
Aug 249.13
Jul 2410.19
Jul 249.14
Jul 248.45
Jul 247.4
Jun 247.7
Jun 247.31
Price to Book
0.60.811.21.41.6med 1.01Dec 24Apr 25Jul 25Oct 25Feb 26May 26Sep 26
HBNC Price to Book by quarter
PeriodPrice to Book
Sep 261.39
Sep 261.4
Aug 261.38
Aug 261.38
Aug 261.45
Aug 261.44
Jul 261.49
Jul 261.46
Jul 261.48
Jul 261.43
Jul 261.44
Jun 261.48
Jun 261.41
Jun 261.44
Jun 261.37
May 261.35
May 261.34
May 261.28
May 261.35
May 261.36
Apr 261.32
Apr 261.33
Apr 261.31
Apr 261.24
Mar 261.2
Mar 261.17
Mar 261.18
Mar 261.17
Feb 261.21
Feb 261.29
Feb 261.29
Feb 261.33
Jan 261.26
Jan 261.26
Jan 261.25
Jan 261.22
Jan 261.18
Dec 251.25
Dec 251.29
Dec 251.32
Dec 251.24
Nov 251.23
Nov 251.17
Nov 251.16
Nov 250.89
Oct 250.86
Oct 250.92
Oct 250.84
Oct 250.83
Oct 250.88
Sep 250.9
Sep 250.91
Sep 250.9
Sep 250.92
Aug 250.93
Aug 250.87
Aug 250.88
Aug 250.86
Aug 250.85
Jul 250.88
Jul 250.9
Jul 250.89
Jul 250.92
Jun 250.87
Jun 250.82
Jun 250.82
Jun 250.84
May 250.84
May 250.83
May 250.89
May 250.85
May 250.86
Apr 250.83
Apr 250.78
Apr 250.74
Apr 250.76
Mar 250.87
Mar 250.87
Mar 250.89
Mar 250.92
Feb 250.99
Feb 250.97
Feb 251
Feb 251.01
Jan 250.97
Jan 250.96
Jan 250.92
Jan 250.87
Jan 250.91
Dec 240.93
Dec 240.95
Dec 241.02
Dec 241.04
Nov 241.06
Nov 241.07
Nov 241.06
Nov 241.08
Nov 240.97
Oct 240.96
Oct 240.94
Horizon Bancorp, Inc.
HBNC
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News: HBNC

Horizon Bank Appoints Nicholas Ritter and Charles Sulerzyski to Serve as Independent Directors

globenewswire.com · 18 Aug 2026

Horizon Bank Appoints Nicholas Ritter and Charles Sulerzyski to Serve as Independent Directors

MICHIGAN CITY, Ind., Aug. 18, 2026 (GLOBE NEWSWIRE) -- (NASDAQ GS: HBNC) Horizon Bancorp, Inc. (“Horizon” or the “Company”) announced the appointments on August 18, 2026 of Nicholas J.

Empowered Funds LLC Lowers Stock Holdings in Horizon Bancorp (IN) $HBNC

defenseworld.net · 18 Aug 2026

Empowered Funds LLC Lowers Stock Holdings in Horizon Bancorp (IN) $HBNC

Empowered Funds LLC reduced its holdings in Horizon Bancorp (IN) (NASDAQ: HBNC) by 66.6% in the undefined quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,152 shares of the financial services provider's stock after selling 108,000 shares during the quarter. Empowered Funds LLC owned approximately

Horizon Bancorp (IN) $HBNC Shares Sold by Empowered Funds LLC

defenseworld.net · 10 Aug 2026

Horizon Bancorp (IN) $HBNC Shares Sold by Empowered Funds LLC

Empowered Funds LLC trimmed its stake in shares of Horizon Bancorp (IN) (NASDAQ: HBNC) by 66.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,152 shares of the financial services provider's stock after selling 108,000 shares during the quarter. Empowered Funds

Horizon Bancorp, Inc. (HBNC) Q2 2026 Earnings Call Transcript

seekingalpha.com · 23 Jul 2026

Horizon Bancorp, Inc. (HBNC) Q2 2026 Earnings Call Transcript

Horizon Bancorp, Inc. (HBNC) Q2 2026 Earnings Call Transcript

Horizon Bancorp (IN) Q2 Earnings Call Highlights

marketbeat.com · 23 Jul 2026

Horizon Bancorp (IN) Q2 Earnings Call Highlights

Horizon Bancorp IN) (NASDAQ: HBNC management said the bank's second-quarter 2026 results reflected continued strength in net interest margin, fee income, commercial lending and credit quality, while also noting a one-time legal expense accrual tied to an unfavorable litigation decision.

Compared to Estimates, Horizon Bancorp (HBNC) Q2 Earnings: A Look at Key Metrics

zacks.com · 22 Jul 2026

Compared to Estimates, Horizon Bancorp (HBNC) Q2 Earnings: A Look at Key Metrics

The headline numbers for Horizon Bancorp (HBNC) give insight into how the company performed in the quarter ended June 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Horizon Bancorp (HBNC) Lags Q2 Earnings and Revenue Estimates

zacks.com · 22 Jul 2026

Horizon Bancorp (HBNC) Lags Q2 Earnings and Revenue Estimates

Horizon Bancorp (HBNC) came out with quarterly earnings of $0.49 per share, missing the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.47 per share a year ago.

Horizon Bancorp, Inc. Reports Strong Second Quarter 2026 Results, Highlighted by Continued Peer Leading Profitability Metrics

globenewswire.com · 22 Jul 2026

Horizon Bancorp, Inc. Reports Strong Second Quarter 2026 Results, Highlighted by Continued Peer Leading Profitability Metrics

MICHIGAN CITY, Ind., July 22, 2026 (GLOBE NEWSWIRE) -- (NASDAQ GS: HBNC) – Horizon Bancorp, Inc. (“Horizon” or the “Company”), the parent company of Horizon Bank (the “Bank”), announced its unaudited financial results for the three months ended June 30, 2026.

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