1st Source Announces the Retirement of John Griffith

Rhea-AI Summary

1st Source Corporation (NASDAQ: SRCE) announced that John Griffith, Executive Vice President and Chief Risk Officer, will retire effective December 31, 2025. Mr. Griffith joined 1st Source in 2001, was elevated to EVP and Chief Risk Officer in 2011, and has served nearly 25 years with the company while retaining chief legal counsel duties.

He retires with over 40 years of business and legal experience, has taught as an adjunct at Notre Dame Law School since 2017, and previously practiced banking and insolvency law in Chicago. 1st Source reports $9.1 billion in assets and a regional footprint of 78 banking centers.

Key Figures

Total assets $9.1 billion 1st Source Corporation asset base

Banking centers 78 locations Banking centers in northern Indiana-southwestern Michigan area

Specialty finance locations 18 locations 1st Source Bank Specialty Finance Group nationwide

Trust & Wealth locations 9 locations Trust and Wealth Advisory Services network

Insurance offices 10 offices 1st Source Insurance presence

Loan production offices 3 offices Loan production footprint

Griffith tenure at 1st Source Almost 25 years Service at 1st Source since 2001

Business & legal experience Over 40 years Broad business and legal expertise, including 15 years at law firms

Market Reality Check

$63.97 Last Close

Volume Volume 104,481 is 18% above 20-day average 88,740. normal

Technical Price $66.20 is trading above 200-day MA at $61.24, near 52-week high $67.77.

Peers on Argus

Regional bank peers like STBA, GABC, FCF, LKFN, and STEL show gains between 0.49% and 1.68%, while SRCE is nearly flat at 0.05%, suggesting modest underperformance rather than a broad sector-driven move.

Common Catalyst Limited peer news overlap; only GABC reported a recognition-related headline, pointing to company-specific rather than sector-wide catalysts.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 20	Leadership promotions	Neutral	-0.0%	Promotions of two senior leaders following earlier succession changes.
Oct 23	Earnings & dividend	Positive	+3.6%	Record Q3 results and increased quarterly cash dividend to $0.40.
Jul 24	Executive succession	Positive	-1.8%	CEO transition with Executive Chairman role and new bank president.
Jul 24	Earnings & dividend	Neutral	-1.8%	Q2 results with modest YoY growth and small dividend increase.

Pattern Detected

Earnings and dividend news have aligned with positive price reactions, while major succession announcements have seen mild negative responses.

Recent Company History

This announcement continues a steady stream of leadership updates at 1st Source. Earlier in 2025, the company outlined a CEO succession plan and promoted two senior leaders, reflecting ongoing management transition. Financially, SRCE reported Q2 and record Q3 2025 results, with net income of $37.32 million in Q2 and $42.30 million in Q3, alongside dividend increases to $0.38 and then $0.40 per share. Throughout these events, the bank has consistently cited $9.1 billion in assets and a network of 78 banking centers, underscoring stable scale as leadership evolves.

Market Pulse Summary

This announcement details the year-end retirement of the long-serving Chief Risk Officer, following earlier succession steps across 1st Source’s leadership team. The company underscores its scale with $9.1 billion in assets and 78 banking centers plus specialty finance, trust, insurance, and loan production offices. Investors may focus on how risk, legal, and regulatory oversight transitions, and monitor upcoming earnings, credit quality metrics, and any further management changes for continuity signals.

AI-generated analysis. Not financial advice.

South Bend, Indiana--(Newsfile Corp. - December 18, 2025) - 1st Source Corporation (NASDAQ: SRCE) announces the retirement of John Griffith, Executive Vice President and Chief Risk Officer of both the Corporation and 1st Source Bank, effective December 31, 2025. Mr. Griffith has served the organization for almost 25 years, joining 1st Source in 2001 as Senior Vice President, General Counsel, and Secretary of the Board. In 2011, he was elevated to Executive Vice President and Chief Risk Officer, retaining his chief legal counsel responsibilities of both the Bank and Corporation.

"John's dedicated service to 1st Source over the past 25 years will leave a lasting legacy," said Andrea Short, CEO and President of 1st Source Corporation and CEO of 1st Source Bank. "His commitment to our mission, culture, and values has created a foundation for management of legal, regulatory, and other risks designed to support the long-term success of both the Bank and the Corporation."

"John has had an extraordinary career at the Bank. He is cooperative and professional, sensitive to the needs of others, sufficiently accommodating, conscientious and responsible, with the ability to act decisively," added Christopher Murphy, Executive Chairman of 1st Source Corporation and 1st Source Bank. "We wish him well in his retirement and we trust he will always remain a great friend to the Bank and Corporation."

Mr. Griffith holds an undergraduate degree in Accounting from Washington University in St. Louis as well as a Juris Doctor degree from Cornell Law School. He retires with over 40 years of broad business and legal expertise, including 15 years of experience with law firms in Chicago as a banking, financial restructuring and insolvency lawyer. In addition to his tenure at 1st Source, Mr. Griffith has been an adjunct professor at the University of Notre Dame Law School since 2017.

John Griffith, 1st Source Corporation

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1st Source Corporation, parent company of 1st Source Bank, has assets of $9.1 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 78 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/278538

FAQ

When will John Griffith retire from 1st Source (SRCE)?

John Griffith will retire effective December 31, 2025.

What roles did John Griffith hold at 1st Source (SRCE) before retiring?

He served as Executive Vice President, Chief Risk Officer and retained chief legal counsel responsibilities for both the bank and corporation.

How long did John Griffith work at 1st Source (SRCE)?

He joined 1st Source in 2001 and served almost 25 years before retiring.

What is 1st Source's (SRCE) asset size and branch footprint?

The corporation reports $9.1 billion in assets, 78 banking centers, and several specialty, trust, insurance, and loan production locations.

Will John Griffith continue any academic roles after retiring from 1st Source (SRCE)?

He has been an adjunct professor at Notre Dame Law School since 2017; the announcement notes this affiliation but does not state future academic plans.

Who commented on John Griffith's retirement at 1st Source (SRCE)?

Comments were attributed to Andrea Short, CEO and President, and Christopher Murphy, Executive Chairman, expressing thanks and well wishes.