1st Source Corporation
1st Source Corporation operates as the holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients. Its consumer banking services include checking and savings accounts; certificates of deposit; individual retirement accounts; online and mobile banking products; consumer loans, real estate loans, and lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards. The company also offers commercial, small business, agricultural, and real estate loans for general corporate purposes, including financing for industrial and commercial properties, equipment, inventories, accounts receivables, and renewable energy and acquisition financing; and commercial leasing, treasury management, and retirement planning services. In addition, it provides trust, investment, agency, and custodial services comprising administration of estates and personal trusts, as well as management of investment accounts for individuals, employee benefit plans, and charitable foundations. Further, the company offers equipment loan and lease products for new and used aircraft, auto and light trucks, construction equipment, and medium and heavy duty trucks; and finances construction equipment, aircrafts, medium and heavy duty trucks, step vans, vocational work trucks, vans, automobiles, motor coaches, shuttle buses, and other equipment. Additionally, it provides corporate and personal property, casualty, and individual and group health and life insurance products and services. As of December 31, 2020, the company operated through 79 banking centers in 18 counties in Indiana and Michigan, as well as Sarasota County in Florida. 1st Source Corporation was founded in 1863 and is headquartered in South Bend, Indiana.
IPO Year:
Exchange: NASDAQ
Website: 1stsource.com
Recent Analyst Ratings for 1st Source Corporation
Date | Price Target | Rating | Analyst |
---|---|---|---|
1/27/2025 | $70.00 → $72.50 | Neutral → Overweight | Piper Sandler |
7/29/2024 | $60.00 → $67.50 | Overweight → Neutral | Piper Sandler |
1st Source Corporation Press Releases
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1st Source Bank Takes Top Spot in Indiana in "Best In State Banks" by Forbes Ranking
Makes list for second consecutive yearSouth Bend, Indiana--(Newsfile Corp. - June 22, 2023) - Forbes recently announced the results of a survey conducted in partnership with market research firm Statista, which recognized 1st Source Bank as the No. 1 bank in Indiana as part of the "Best In State Banks" list, also marking the second consecutive year 1st Source Bank has made the list. 31,000 Americans were asked to provide an overall satisfaction score for every bank where they have held a checking and/or savings account. Additionally, a sentiment analysis approach of publicly available online reviews and ratings was considered. "The continued trust and advocacy from our clients is something
1st Source Performance Earns Inclusion in the KBW Bank Honor Roll Among Top Performing Banks in Country
Named among 14 banking institutions with 10 years of increased earnings per shareSouth Bend, Indiana--(Newsfile Corp. - April 25, 2023) - Keefe, Bruyette & Woods, Inc. (KBW) recently announced the yearly Bank Honor Roll, and 1st Source (NASDAQ:SRCE) was named among this year's 14 honorees and has made the list for the fifth consecutive year, placing its long-term performance among the top 4% of eligible banks in the country. To be considered for this recognition, banks must be publicly traded institutions with more than $500 million in total assets and must have had 10 consecutive years of increased earnings per share. "We're thrilled to be part of the KBW Bank Honor Roll once again this ye
1st Source Announces Two Promotions with an Eye on the Future
1st Source Corporation and 1st Source Bank are pleased to announce that its Board of Directors has recently made two promotions with an eye on its future. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221123005341/en/Chris Murphy (Photo: Business Wire) Effective December 1, 2022, Andrea G. Short, President of 1st Source Bank will also become its CEO. Christopher J. Murphy III will remain Chairman, President and CEO of 1st Source Corporation and Chairman of 1st Source Bank. In her new role, Ms. Short will have Personal Banking, Business Banking, Specialty Finance, Wealth Advisory Services, Credit, and the Operations functions of
1st Source Corporation Reports Record Third Quarter Results, Cash Dividend Declared
QUARTERLY HIGHLIGHTS Net income was a record $32.74 million for the quarter, up $0.25 million or 0.78% from the third quarter of 2021. Diluted net income per common share was $1.32, up $0.03 from the prior year's third quarter of $1.29. Cash dividend of $0.32 per common share was approved, up 3.23% from the cash dividend declared a year ago. Return on average assets of 1.62% and return on average common shareholders' equity of 14.87% compared to 1.65% and 14.08%, respectively in the third quarter of 2021. Average loans and leases net PPP loans grew $177.10 million in the third quarter, up 3.25% (13% annualized growth) from the previous quarter and $451.88 million, up 8.74% from the
1st Source Corporation Reports Second Quarter Results, a Record Quarter Adjusted for PPP Income Due to Government Response to COVID-19; Cash Dividend Increased
QUARTERLY HIGHLIGHTS Net income was $29.31 million for the quarter, down $0.91 million or 3.01% from the second quarter of 2021. Excluding tax-effected PPP income, net income was a record $28.47 million for the quarter, up $1.06 million or 3.87% from the second quarter of 2021. Diluted net income per common share was $1.18, down $0.01 from the prior year's second quarter of $1.19. Cash dividend of $0.32 per common share was approved, up 3.22% from the cash dividend declared a year ago. Small Business Administration (SBA) forgiveness and customer pay downs of Paycheck Protection Program (PPP) loans amounted to $29.84 million during the quarter which contributed to the recognition of
1st Source Bank Named as One of Indiana's "Best In State Banks" by Forbes
Forbes recently announced the results of a survey conducted in partnership with market research firm Statista, which recognized 1st Source Bank as one of the "Best In State Banks" in Indiana. 26,000 Americans across all 50 states were asked to provide an overall satisfaction score for every bank where they hold a checking account, and they were also asked if they would recommend that bank to friends and family. Only 2.7% of all banks nationwide made the list, and 1st Source ranked #3 in Indiana. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220624005264/en/(Graphic: Business Wire) "We are incredibly grateful to our clients for t
1st Source Performance Earns Inclusion in the KBW Bank Honor Roll
Named among 17 banking institutions with 10 years of increased earnings per share Keefe, Bruyette & Woods, Inc. (KBW) recently announced the yearly Bank Honor Roll, and 1st Source was named among this year's 17 honorees and has made the list for the fourth consecutive year, placing its long-term performance among the top 5% of eligible banks in the country. To be considered for this recognition, banks must be publicly traded institutions with more than $500 million in total assets and must have had 10 consecutive years of increased earnings per share. "Receiving this recognition for the fourth year in a row is a great honor, and it's a welcome confirmation, with an ongoing pandemic challe
1st Source Elects New Member to its Board of Directors
International business leader to bring extensive leadership skills 1st Source Corporation announces the election of Isaac P. Torres to its Board of Directors. Mr. Torres is President and Chief Executive Officer of InterCambio Express, Inc., an internet-based money transfer service with a U.S.A. headquarters in Elkhart, Ind. and a Mexican subsidiary located in Puebla, Mexico. Mr. Torres has expertise in internet-based industries and international payment systems as well as extensive skills in finance, accounting compliance and international business. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220422005483/en/Isaac P. Torres (
1st Source Corporation Reports First Quarter Results, Cash Dividend Declared
QUARTERLY HIGHLIGHTS Net income was $27.39 million for the quarter, down $715,000 or 2.54% from the first quarter of 2021. Diluted net income per common share was $1.10, equal to the prior year's first quarter of $1.10. Cash dividend of $0.31 per common share was approved, up 3.33% from the $0.30 per common share declared a year ago. Small Business Administration (SBA) forgiveness and customer pay downs of Paycheck Protection Program (PPP) loans amounted to approximately $36.61 million during the quarter which contributed to the recognition of $1.47 million in PPP-related loan fees in the quarter down from $132.91 million in forgiveness and $3.98 million in fees in the first quarter
1st Source Corporation Reports Record Annual Earnings, Cash Dividend Declared, History of Increased Dividends Continues
FULL YEAR AND QUARTERLY HIGHLIGHTS Net income was a record $118.53 million for the year of 2021, up 45.55% from 2020 and was $27.72 million for the fourth quarter of 2021, down 14.65% from the previous quarter and up 4.76% from the fourth quarter of 2020. Cash dividend of $0.31 per common share approved, up 6.90% from the $0.29 per common share declared a year ago. Diluted net income per common share was a record $4.70 for the year of 2021, up 48.26% from 2020 and was $1.11 for the fourth quarter of 2021, down 13.95% from the previous quarter and up 7.77% from the prior year's fourth quarter. Small Business Administration (SBA) forgiveness and customer pay downs of Paycheck Prote
1st Source Corporation Analyst Ratings
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1st Source Corp upgraded by Piper Sandler with a new price target
Piper Sandler upgraded 1st Source Corp from Neutral to Overweight and set a new price target of $72.50 from $70.00 previously
1st Source Corp downgraded by Piper Sandler with a new price target
Piper Sandler downgraded 1st Source Corp from Overweight to Neutral and set a new price target of $67.50 from $60.00 previously
1st Source Corporation Insider Purchases
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Fitzpatrick Daniel B bought $49,650 worth of shares (1,000 units at $49.65), increasing direct ownership by 2% to 48,542 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
1st Source Corporation Insider Trading
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Exec VP / Secy 1st Source Bank Griffith John B was granted 1,753 shares, increasing direct ownership by 3% to 67,876 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
President Short Andrea G was granted 2,660 shares, increasing direct ownership by 4% to 77,375 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
Executive Vice President Buhr Jeffrey L was granted 2,278 shares, increasing direct ownership by 3% to 69,605 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
Treasurer and CFO Bauer Brett A. was granted 1,558 shares, increasing direct ownership by 7% to 22,687 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
Director Schurz Todd F. was granted 175 shares, increasing direct ownership by 1% to 11,890 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
Director Shrewsbury Ronda was granted 254 shares, increasing direct ownership by 3% to 10,378 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
Director Schwabero Mark D was granted 175 shares, increasing direct ownership by 0.66% to 26,873 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
Director Affleck-Graves John F was granted 215 shares, increasing direct ownership by 1% to 17,736 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
Director Torres Isaac P. was granted 302 shares, increasing direct ownership by 4% to 8,490 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
Director Ozark Timothy K was granted 302 shares, increasing direct ownership by 0.64% to 47,705 units (SEC Form 4)
4 - 1ST SOURCE CORP (0000034782) (Issuer)
1st Source Corporation SEC Filings
SEC Form DEF 14A filed by 1st Source Corporation
DEF 14A - 1ST SOURCE CORP (0000034782) (Filer)
SEC Form 10-K filed by 1st Source Corporation
10-K - 1ST SOURCE CORP (0000034782) (Filer)
1st Source Corporation filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits
8-K - 1ST SOURCE CORP (0000034782) (Filer)
1st Source Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits
8-K - 1ST SOURCE CORP (0000034782) (Filer)
1st Source Corporation filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits
8-K - 1ST SOURCE CORP (0000034782) (Filer)
SEC Form 10-Q filed by 1st Source Corporation
10-Q - 1ST SOURCE CORP (0000034782) (Filer)
1st Source Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Other Events, Financial Statements and Exhibits
8-K - 1ST SOURCE CORP (0000034782) (Filer)
1st Source Corporation filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits
8-K - 1ST SOURCE CORP (0000034782) (Filer)
SEC Form 10-Q filed by 1st Source Corporation
10-Q - 1ST SOURCE CORP (0000034782) (Filer)
1st Source Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits
8-K - 1ST SOURCE CORP (0000034782) (Filer)
1st Source Corporation Financials
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1st Source Corporation Reports Record Third Quarter Results, Cash Dividend Declared
QUARTERLY HIGHLIGHTS Net income was a record $32.74 million for the quarter, up $0.25 million or 0.78% from the third quarter of 2021. Diluted net income per common share was $1.32, up $0.03 from the prior year's third quarter of $1.29. Cash dividend of $0.32 per common share was approved, up 3.23% from the cash dividend declared a year ago. Return on average assets of 1.62% and return on average common shareholders' equity of 14.87% compared to 1.65% and 14.08%, respectively in the third quarter of 2021. Average loans and leases net PPP loans grew $177.10 million in the third quarter, up 3.25% (13% annualized growth) from the previous quarter and $451.88 million, up 8.74% from the
1st Source Corporation Reports Second Quarter Results, a Record Quarter Adjusted for PPP Income Due to Government Response to COVID-19; Cash Dividend Increased
QUARTERLY HIGHLIGHTS Net income was $29.31 million for the quarter, down $0.91 million or 3.01% from the second quarter of 2021. Excluding tax-effected PPP income, net income was a record $28.47 million for the quarter, up $1.06 million or 3.87% from the second quarter of 2021. Diluted net income per common share was $1.18, down $0.01 from the prior year's second quarter of $1.19. Cash dividend of $0.32 per common share was approved, up 3.22% from the cash dividend declared a year ago. Small Business Administration (SBA) forgiveness and customer pay downs of Paycheck Protection Program (PPP) loans amounted to $29.84 million during the quarter which contributed to the recognition of
1st Source Corporation Reports First Quarter Results, Cash Dividend Declared
QUARTERLY HIGHLIGHTS Net income was $27.39 million for the quarter, down $715,000 or 2.54% from the first quarter of 2021. Diluted net income per common share was $1.10, equal to the prior year's first quarter of $1.10. Cash dividend of $0.31 per common share was approved, up 3.33% from the $0.30 per common share declared a year ago. Small Business Administration (SBA) forgiveness and customer pay downs of Paycheck Protection Program (PPP) loans amounted to approximately $36.61 million during the quarter which contributed to the recognition of $1.47 million in PPP-related loan fees in the quarter down from $132.91 million in forgiveness and $3.98 million in fees in the first quarter
1st Source Corporation Reports Record Annual Earnings, Cash Dividend Declared, History of Increased Dividends Continues
FULL YEAR AND QUARTERLY HIGHLIGHTS Net income was a record $118.53 million for the year of 2021, up 45.55% from 2020 and was $27.72 million for the fourth quarter of 2021, down 14.65% from the previous quarter and up 4.76% from the fourth quarter of 2020. Cash dividend of $0.31 per common share approved, up 6.90% from the $0.29 per common share declared a year ago. Diluted net income per common share was a record $4.70 for the year of 2021, up 48.26% from 2020 and was $1.11 for the fourth quarter of 2021, down 13.95% from the previous quarter and up 7.77% from the prior year's fourth quarter. Small Business Administration (SBA) forgiveness and customer pay downs of Paycheck Prote
1st Source Corporation Reports Record Third Quarter Results, Cash Dividend Declared
QUARTERLY HIGHLIGHTS Net income was a record $32.48 million for the quarter, up 7.48% from the second quarter and up 61.95% from the third quarter of 2020. Diluted net income per common share was also a record at $1.29, up compared to the $1.19 in the previous quarter and up from the prior year's third quarter of $0.78. Cash dividend of $0.31 per common share was approved by our Board, up 10.71% from the $0.28 per common share declared a year ago. Small Business Administration (SBA) forgiveness and customer pay downs of Paycheck Protection Program (PPP) loans amounted to approximately $150.16 million during the quarter which contributed to the recognition of $6.69 million in PPP-relat
1st Source Corporation Reports Record Second Quarter Results, Cash Dividend Increased
QUARTERLY HIGHLIGHTS Net income was a record $30.22 million for the quarter, up 63.35% from the second quarter of 2020. Diluted net income per common share was also a record at $1.19, up from the prior year's second quarter of $0.72. Cash dividend of $0.31 per common share approved, up 10.71% from the $0.28 per common share declared a year ago. Return on average assets of 1.58% and return on average common shareholders' equity of 13.49% compared to 1.04% and 8.63%, respectively in the second quarter of 2020. Excluding the Paycheck Protection Program (PPP) loans, average loans and leases increased slightly from the previous quarter and decreased slightly from the second quarter of
1st Source Corporation Reports Record First Quarter Results, Cash Dividend Increased
QUARTERLY HIGHLIGHTS Net income was a record $28.11 million for the quarter, up 71.24% from the first quarter of 2020. Diluted net income per common share was also a record at $1.10, up from the prior year's first quarter of $0.64. Cash dividend of $0.30 per common share approved, up 7.14% from the $0.28 per common share declared a year ago. Return on average assets of 1.55% and return on average common shareholders' equity of 12.74% compared to 1.00% and 7.81%, respectively in the first quarter of 2020. Average loans and leases were relatively flat from the previous quarter and up $400.61 million or 7.86% from the first quarter of 2020. Excluding the Paycheck Protection Program, av
1st Source Corporation Reports Earnings for Full Year and Fourth Quarter 2020, Cash Dividend Increased, History of Increased Dividends Continues
SOUTH BEND, Ind.--(BUSINESS WIRE)--1st Source Corporation (NASDAQ: SRCE), parent company of 1st Source Bank, today reported net income of $81.44 million for 2020, a decrease of 11.44% compared to $91.96 million earned in 2019. Fourth quarter net income was $26.46 million, an increase of 20.61% compared to $21.94 million earned in the fourth quarter of 2019. The annual net income comparison was adversely impacted by an increased provision for credit losses of $20.17 million primarily due to the negative impact on our clients from COVID-19, sizeable impairments in a few accounts, and higher special attention loan balances. Diluted net income per common share for the year was $3.17,
1st Source Corporation Large Ownership Changes
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SEC Form SC 13G/A filed by 1st Source Corporation (Amendment)
SC 13G/A - 1ST SOURCE CORP (0000034782) (Subject)
SEC Form SC 13G/A filed by 1st Source Corporation (Amendment)
SC 13G/A - 1ST SOURCE CORP (0000034782) (Subject)
SEC Form SC 13G/A filed by 1st Source Corporation (Amendment)
SC 13G/A - 1ST SOURCE CORP (0000034782) (Subject)
SEC Form SC 13G/A filed by 1st Source Corporation (Amendment)
SC 13G/A - 1ST SOURCE CORP (0000034782) (Subject)
SEC Form SC 13G/A filed
SC 13G/A - 1ST SOURCE CORP (0000034782) (Subject)
SEC Form SC 13G/A filed
SC 13G/A - 1ST SOURCE CORP (0000034782) (Subject)