1st Source Corp (OQ:SRCE)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 100 N Michigan St SOUTH BEND IN 46601 |
| Tel: | N/A |
| Website: | https://www.1stsource.com |
| IR: | See website |
| Key People | ||
| Christopher J. Murphy Chairman of the Board, Chief Executive Officer | Andrea G. Short President | Brett A. Bauer Chief Financial Officer, Senior Vice President, Principal Accounting Officer, Treasurer |
| John B. Griffith Executive Vice President, Chief Risk Officer, General Counsel, Secretary of 1st Source Corporation and 1st Source Bank | Jeffrey L. Buhr Executive Vice President and Chief Credit Officer - 1st Source Bank | |
| Business Overview |
| 1st Source Corporation is a bank holding company. The Company, through its subsidiaries, offers a range of financial products and services. Its banking subsidiary, 1st Source Bank (Bank), offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients through its 78 banking center locations in 18 counties in Indiana and Michigan and Sarasota County in Florida. The Bank offers specialized financing services for construction equipment, new and pre-owned private and cargo aircraft, and various vehicle types for fleet purposes. It also offers a range of trust, investment, agency, and custodial services for individual, estate and trust, corporate, and not-for-profit clients. Its insurance agency subsidiary, 1st Source Insurance, Inc., offers property and casualty, individual and group health, and life insurance for individuals and businesses. It also owns and manages certain available-for-sale investment securities. |
| Financial Overview |
| For the three months ended 31 March 2024, 1st Source Corp interest income increased 23% to $116.5M. Net interest income after loan loss provision decreased 2% to $65.3M. Net income applicable to common stockholders decreased 5% to $29.2M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% decrease of 2% to 3.54%, Investment in Securities Taxable decrease of 9% to $6.1M, Investment Securities. |
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