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1st Source Corp. - SRCE STOCK NEWS

Welcome to our dedicated news page for 1st Source (Ticker: SRCE), a resource for investors and traders seeking the latest updates and insights on 1st Source.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect 1st Source's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of 1st Source's position in the market.

News
1st Source Corporation Reports First Quarter Results, Cash Dividend Declared
Rhea-AI Summary
1st Source (NASDAQ: SRCE) reported first quarter 2024 net income of $29.46 million, up 3.61% from the previous quarter. The cash dividend per common share increased by 6.25% from the prior year. Average loans grew by 1.82% in the first quarter, while net interest income increased by 3.26% year over year. Despite challenges in credit, the company maintained strong liquidity and capital positions. The company received notable rankings in Forbes' America's Best Banks list and S&P Global Market Intelligence's Top 50 Community Banks with $3B to $10B in assets. 1st Source Bank also retained its 5-star rating from BauerFinancial.
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End-of-Day
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1st Source Corporation Reports Record Annual Earnings, Cash Dividend Declared, History of Increased Dividends Continues
Rhea-AI Summary
1st Source Corporation (NASDAQ: SRCE) reported record net income of $124.93 million for 2023, up 3.67% from 2022, but net income for the fourth quarter was $28.43 million, a decrease of 8.49% compared to the previous year. The company approved a cash dividend of $0.34 per common share, up 6.25% from a year ago. Average loans and leases grew by $637.16 million in 2023, up 11.45% from 2022. Tax-equivalent net interest margin expanded to 3.51% in 2023, up six basis points from 2022. Noninterest income decreased by 0.70% in 2023, mainly due to lower equipment rental income and realized losses from repositioning the available-for-sale investment securities portfolio. Noninterest expense increased by 9.22% in 2023, primarily due to higher base salaries, software maintenance costs, and increased FDIC insurance premiums. The allowance for loan and lease losses as of December 31, 2023, was 2.26% of total loans and leases. The common equity-to-assets ratio was 11.34% as of December 31, 2023.
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End-of-Day
4.79%
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1st Source Corporation Reports Record Third Quarter Results, Cash Dividend Increased
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1st Source Corporation reports record quarterly net income of $32.94 million for Q3 2023
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End-of-Day
-0.16%
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dividends earnings
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1st Source Corporation Reports Strong Second Quarter Results, Cash Dividend Declared
Rhea-AI Summary
1st Source Corporation (NASDAQ: SRCE) reported a net income of $32.44 million for Q2 2023, up 10.65% from the previous year. The company also approved a cash dividend of $0.32 per common share. Average loans and leases grew by $104.95 million, and average deposits increased by $70.08 million. Tax-equivalent net interest income was $68.70 million, down 1.57% from Q1 2023, while net interest margin was 3.48%, down 12 basis points from the previous quarter.
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-0.63%
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1st Source Bank Takes Top Spot in Indiana in "Best In State Banks" by Forbes Ranking
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-1.29%
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1st Source Announces Two Promotions with an Eye on the Future
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-0.93%
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1st Source Corporation Reports Record Third Quarter Results, Cash Dividend Declared
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End-of-Day
12.09%
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1st Source Corporation Reports Second Quarter Results, a Record Quarter Adjusted for PPP Income Due to Government Response to COVID-19; Cash Dividend Increased
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End-of-Day
2.55%
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1st Source Bank Named as One of Indiana’s “Best In State Banks” by Forbes
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4.23%
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1st Source Performance Earns Inclusion in the KBW Bank Honor Roll
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-0.57%
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Stock SRCE logo
1st Source Corp.

Nasdaq:SRCE

SRCE Rankings

#2256 Ranked by Market Cap
#3549 Ranked by Stock Gains
#1209 Ranked by Dividends

SRCE Stock Data

1.18B
15.97M
35.94%
57.14%
0.73%
Commercial Banking
Finance and Insurance
Link
United States
South Bend

About SRCE

founded in 1863 in south bend, indiana, 1st source has offered clients a convenient and friendly way to bank for over 150 years. at 1st source, we’ll listen to you, understand your needs and always keep your best interests in mind. we are a top rated bank and have been recognized for our integrity and the exceptional services we provide to our clients. global and national recognition: 5 star “superior” rating from bauerfinancial – highest rating possible. based on capital ratio, profitability/loss trend, credit quality and cra ratings named to bank honor roll of superior performers by kbw, inc., 2012 - 2015 bank performance scorecard by bank director magazine - #8 of 93 banks on 2014 list, based on profitability, capital strength and credit quality bank director magazine nifty fifty, #43 on 2014 list of best users of capital based on profitability and capital strength top 15th percentile of community banks by seifried & brew the bank remains the largest locally controlled fi