1st Source Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Other Events, Financial Statements and Exhibits
$SRCE
Major Banks
Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 24, 2024
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ITEM 2.02 Results of Operations and Financial Condition.
On October 24, 2024 , 1st Source Corporation issued a press release that announced its third quarter earnings for 2024. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
ITEM 8.01 Other Events.
The Executive Compensation and Human Resources Committee of the Board of Directors took action on October 23, 2024, to further define the normal retirement age of Participants in the Plan. Specifically, the Committee amended the 1982 Executive Incentive Plan effective October 23, 2024, to stipulate that the normal retirement age is 65 and that a Participant who is 60 or older will be treated as having attained the normal retirement age if they have completed either 15 years in the Plan or 20 years of service with the Corporation so long as notice of retirement is given 150 days beforehand. Additionally, the method of calculating interest paid on the purchase price was adjusted from the Bank’s one-year certificate of deposit rate to a calculation of dividends for the most recently completed calendar year divided by the ending market value of common stock for the most recently completed calendar year. Interest is adjusted annually on the anniversary date of the note documenting the sale agreement.
ITEM 9.01 Financial Statements and Exhibits.
Exhibit 99.1: Press release dated October 24, 2024 , with respect to 1st Source Corporation’s financial results for the third quarter ended September 30, 2024.
101 Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business reporting Language).
104 Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| 1st SOURCE CORPORATION | ||||||||
| (Registrant) | ||||||||
Date: | /s/ BRETT A. BAUER | |||||||
| Brett A. Bauer | ||||||||
| Treasurer and Chief Financial Officer | ||||||||
| Principal Accounting Officer | ||||||||