Technology partnership to enhance customer experience and boost loan officer productivity

Horizon Bank, an $8 billion financial institution and division of Horizon Bancorp, Inc. (NASDAQ GS: HBNC), one of the largest independent bank holding companies in the Midwest, today announced a new partnership with Blend (NYSE: BLND), a leading provider of digital banking solutions, to digitally enhance their end-to-end mortgage lending process.

“Our goal was to find a technology partner that could enable us to deliver a fast, efficient, and convenient home buying application experience for our customers,” said David Pendley, President Retail Mortgage Banking at Horizon Bank. “Blend's advanced automation and loan officer mobile capabilities made the decision to upgrade a no-brainer.”

A Modern Mortgage Application Experience

Blend’s Mortgage Suite offers a comprehensive solution that integrates seamlessly with Horizon Bank’s existing infrastructure.

By automating manual workflows and reducing the number of steps borrowers must take to complete their application, Blend’s digital mortgage solution creates a smoother, and more efficient lending experience that enhances the borrower experience, reduces origination costs, and drives operational efficiency.

Supercharging Loan Officer Productivity

Blend's LO productivity tools will increase the ease and speed at which Horizon’s Loan Officers can serve their customers in this competitive environment.

Using Blend’s platform, Loan Officers can seamlessly perform tasks that include starting applications, pulling credit, structuring loans, granting pre-approvals, and locking in rates. These capabilities are accessible both on desktop via Blend’s LO Mobile App, allowing Horizon Bank’s Loan Officers to manage applications or engage with new leads while on-the-go.

A Leader in Mortgage Origination Technology

Blend has over 12 years of experience building leading mortgage and consumer lending solutions for hundreds of financial institutions, including 35 of the nation’s top 100 banks by AUM and 13 of the nation’s top 30 mortgage originators by lending volumes. Over 20% of the nation’s total mortgage origination volume share is being processed through Blend’s platform.

“We at Blend are committed to empowering financial institutions with the most digitally advanced tools they need to excel in today’s competitive market," said Nima Ghamsari, Co-Founder and Head of Blend. "We look forward to collaborating with the Horizon Bank team to make the goal of homeownership as simple, fast, and streamlined as possible for their customers.”

Based on an independent 2023 impact analysis conducted with Blend’s mortgage customers, Blend’s Mortgage Suite eliminates an average of 8 days from the overall loan cycle time, from processing to closing, resulting in $914 in average cost savings per loan.

To learn more about Blend’s Mortgage Suite, visit blend.com/products/mortgage-suite.

About Blend

Blend (NYSE: BLND) is the infrastructure powering the future of banking. Financial providers— from large banks, fintechs, and credit unions to community and independent mortgage banks—use Blend’s platform to transform banking experiences for their customers. Blend powers billions of dollars in financial transactions every day. To learn more, visit blend.com.

About Horizon Bancorp, Inc.

Horizon Bancorp, Inc. (NASDAQ GS: HBNC) is the nearly 8 billion–asset bank holding company for Horizon Bank, which serves customers across attractive Midwestern markets through convenient digital tools, as well as its Indiana and Michigan branches. Horizon's retail offerings include prime residential, indirect auto, and other secured consumer lending, as well as a range of personal banking and wealth management solutions. Horizon also provides a comprehensive array of in–market business banking and treasury management services, as well as equipment financing solutions for customers regionally and nationally, with commercial lending representing over half of total loans. More information on Horizon, headquartered in Northwest Indiana's Michigan City, is available at horizonbank.com.

Forward-Looking Disclaimer

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements generally relate to future events, future performance or expectations and involve substantial risks and uncertainties. Forward-looking statements in this press release may include, but are not limited to, our expectations regarding our product roadmap, future products/features, the timing of new product/feature introductions, market size and growth opportunities, macroeconomics and industry conditions, capital expenditures, plans for future operations, competitive position, technological capabilities and strategic relationships, as well as assumptions relating to the foregoing. The forward-looking statements contained in this press release are subject to risks and uncertainties that could cause actual outcomes to differ materially from the outcomes predicted. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “would,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other comparable terminology that concern Blend’s expectations, strategy, plans or intentions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which such performance or results will be achieved, if at all. Further information on these risks and uncertainties are set forth in our filings with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Blend and assumptions and beliefs as of the date hereof. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. Except as required by law, Blend does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

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