1st Source Again Ranked in Top 50 Community Banks by S&P Global

Rhea-AI Summary

1st Source (NASDAQ: SRCE) has achieved the #25 ranking on S&P Global Market Intelligence's Top 50 Community Banks list for institutions with $3B-$10B in assets for the second consecutive year. The ranking assessment focused on balance sheet strength, risk profile, returns, growth, and funding.

The company, with $8.9 billion in assets, maintains 77 banking centers, 18 Specialty Finance Group locations, nine Trust and Wealth Advisory Services locations, and other facilities. President Andrea Short emphasized their commitment to quality earnings, future investments, and strong balance sheet maintenance.

S&P's ranking methodology evaluated eight key metrics, including pretax return on average assets, net interest margin, efficiency ratio, operating revenue change, deposit change, nonperforming assets, net charge-offs ratio, and adjusted tangible common equity ratio, with weighted scoring between 10-25% for each metric.

S&P Global Market Intelligence's Top 50 Community Banks $3B-$10B

South Bend, Indiana--(Newsfile Corp. - April 3, 2025) - 1st Source Corporation (NASDAQ: SRCE) is pleased to announce that they ranked #25 on S&P Global Market Intelligence's Top 50 Community Banks list of institutions with $3B-$10B in assets. This is the second year in a row that they've made the list of best-performing community banks. When determining the list, S&P put a special emphasis on the strength and risk profile of each financial institution's balance sheets while also considering their returns, growth, and funding.

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"1st Source is very pleased to be included in this list for a second year in a row," said Andrea Short, President of 1st Source Corporation, and President and CEO of 1st Source Bank. "It highlights our focus on quality earnings, investing for the future, and building a strong balance sheet. Our colleagues are committed to serving our clients well for the long term. I am proud of the way our colleagues consistently deliver on our mission to help our clients achieve security, build wealth, and realize their dreams, while also supporting our shareholders and each other in the process."

S&P Global Market Intelligence rankings were launched in 2011 to assess the performance of banks and credit unions. According to their ranking analysis, they "calculated scores for each company based on eight metrics: pretax return on average assets, net interest margin, efficiency ratio, 3-year average operating revenue change, 8-quarter average deposit change, nonperforming assets and loans 90 days or more past due as a percentage of total assets, net charge-offs-to-average loans and leases ratio, and adjusted tangible common equity-to-tangible assets ratio weighted at 25%, 10%, 10%, 10%, 10%, 10%, 10% and 15%, respectively. Each company's standard deviation from the industry mean was calculated for every ranking metric, weighted, then combined to derive a performance score. To help normalize the data and mitigate the impact of outliers, caps and floors were applied for each metric."

A full list of the rankings can be found here: S&P Global Market Intelligence

1st Source Corporation, parent company of 1st Source Bank, has assets of $8.9 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 77 banking centers, 18 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Advisory Services locations, 10 1st Source Insurance offices, and three loan production offices. For more than 160 years, 1st Source has been committed to our mission of helping our clients achieve security, build wealth and realize their dreams. For more information, visit https://www.1stsource.com/.

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SOURCE STRING: 1st Source Corporation

Contact:
Hannah Nichols 
NicholsHa@1stsource.com
574-235-2128

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247278

FAQ

What ranking did 1st Source (SRCE) achieve in S&P Global's 2025 Top 50 Community Banks list?

1st Source (SRCE) ranked #25 on S&P Global Market Intelligence's Top 50 Community Banks list for institutions with $3B-$10B in assets.

How many consecutive years has SRCE been included in S&P Global's Top 50 Community Banks list?

SRCE has made S&P Global's Top 50 Community Banks list for two consecutive years.

What are the key metrics S&P Global used to evaluate SRCE's ranking?

S&P evaluated eight metrics including pretax return on assets, net interest margin, efficiency ratio, operating revenue change, deposit change, nonperforming assets, net charge-offs ratio, and tangible common equity ratio.

What is the current asset size of 1st Source (SRCE) as of 2025?

1st Source has assets of $8.9 billion and is the largest locally controlled financial institution in the northern Indiana-southwestern Michigan area.

How many banking centers and specialty locations does SRCE currently operate?

SRCE operates 77 banking centers, 18 Specialty Finance Group locations, 9 Trust and Wealth Advisory Services locations, 10 insurance offices, and 3 loan production offices.