Welcome to our dedicated page for 1St Source news (Ticker: SRCE), a resource for investors and traders seeking the latest updates and insights on 1St Source stock.
News and filings from 1st Source Corporation (NASDAQ: SRCE) focus on its role as a regional commercial banking and specialty finance company and parent of 1st Source Bank. Company announcements regularly highlight financial results, executive leadership changes, community initiatives, and developments in its specialty finance, advisory, and insurance activities.
Investors following SRCE news will see detailed quarterly and annual earnings releases, where the Corporation reports net income, loan and lease growth, deposit trends, net interest margin, credit quality metrics, and capital ratios. These releases often include commentary from senior management on economic conditions, credit performance, and the company’s approach to capital, liquidity, and risk management.
Corporate news also covers governance and leadership topics. Recent press releases and Form 8-K filings have described an executive succession plan involving the transition of the long-serving Chief Executive Officer to the role of Executive Chairman and the promotion of other senior leaders, as well as changes in roles such as Chief Operating Officer, Chief Administrative Officer, and General Counsel and Secretary. These updates provide context on how the organization structures its leadership for long-term continuity.
Other news items highlight recognition and strategic initiatives. 1st Source has reported inclusion on industry and business rankings, such as the KBW Bank Honor Roll, Forbes lists, and S&P Global Market Intelligence community bank rankings, as well as awards for community service and small business lending. The company also issues news about its participation in faster payments infrastructure, branch renovations and new banking centers, and community programs that align with its mission of helping clients achieve security, build wealth, and realize their dreams.
For readers interested in SRCE, this news stream offers ongoing insight into the company’s financial performance, leadership decisions, technology and payments initiatives, and community banking activities across its core markets and specialty finance platforms.
1st Source Bank (NASDAQ: SRCE) has been recognized on Forbes' America's Best Midsize Employers list for the fourth consecutive year, ranking #276 out of 498 companies in 2025. This recognition coincides with the list's 10th anniversary and follows the bank's previous appearances in 2021, 2022, and 2023.
The prestigious list was compiled through a comprehensive survey of over 217,000 employees at U.S. companies with more than 1,000 workers. Employees evaluated their employers on multiple factors including salary, work environment, training programs, and advancement opportunities.
1st Source , the bank's parent company, manages assets of $8.9 billion and operates 77 banking centers, 18 Specialty Finance Group locations, nine Trust and Wealth Advisory Services locations, and various other facilities across northern Indiana and southwestern Michigan.
1st Source Bank (NASDAQ: SRCE) has achieved a notable ranking of #26 on Forbes' America's Best Banks list for 2025. The bank is one of only three Indiana-based institutions to make this prestigious top 100 ranking, marking their second consecutive year on the list.
The evaluation was based on 10 key metrics measuring growth, credit quality, and profitability for the period ending September 30, 2024, along with stock performance through January 10, 2025. The metrics include net interest margin, return on average assets, CET1 ratio, efficiency ratio, and operating revenue growth among others.
Currently, 1st Source manages assets of $8.9 billion and operates 77 banking centers, 18 Specialty Finance Group locations, 9 Trust and Wealth Advisory Services locations, and various other facilities across northern Indiana and southwestern Michigan, maintaining its position as the largest locally controlled financial institution in the region.
1st Source Bank (NASDAQ: SRCE) has joined the U.S. Faster Payments Council (FPC), an industry-led organization shaping the future of U.S. payment systems. This membership follows the bank's early adoption of the FedNow Service in July 2023 and implementation of Real-time Payments (RTP®) platform in March 2023.
The bank, with assets of $8.9 billion, is strengthening its position in the instant payment space through this strategic membership. As the largest locally controlled financial institution in the northern Indiana-southwestern Michigan area, 1st Source operates 77 banking centers, 18 Specialty Finance Group locations, and various other service locations.
This initiative aligns with the FPC's mission of enabling Americans to make secure, instant payments with immediate funds availability, while focusing on safety, security, and adoption of faster payment solutions.
1st Source (NASDAQ: SRCE) reported record annual earnings for 2024, with net income reaching $132.62 million, up 6.16% from 2023. The company achieved $5.36 diluted earnings per share, a 6.56% increase year-over-year. Fourth quarter net income was $31.44 million, up 10.58% from Q4 2023.
Key financial metrics include a return on average assets of 1.52% and return on average shareholders' equity of 12.54%. The Board approved a cash dividend of $0.36 per share, marking the 37th consecutive year of dividend growth. End-of-period loans increased by 5.16% to $6.85 billion, while deposits grew 5.06% to $6.73 billion. The tax-equivalent net interest margin improved to 3.64% for 2024, up 13 basis points from 2023.
1st Source (NASDAQ: SRCE) reported Q3 2024 net income of $34.94 million, up 6.07% from Q3 2023. Diluted earnings per share reached $1.41, a 6.82% increase year-over-year. The Board approved a quarterly cash dividend of $0.36 per share, up 12.50% from last year. Tax-equivalent net interest income was $75.63 million, up 8.97% from Q3 2023, with net interest margin expanding to 3.64%. Credit quality showed some challenges with net charge-offs of $0.85 million. The company maintained strong capital ratios with Common Equity Tier 1 at 14.18%.
1st Source (NASDAQ: SRCE) reported record quarterly net income of $36.79 million for Q2 2024, up 13.44% year-over-year. Diluted EPS reached $1.49, a 14.62% increase from Q2 2023. The company declared a cash dividend of $0.36 per share, up 12.50% from last year. Key highlights include:
- Average loans and leases grew 7.57% YoY to $6.61 billion
- Average deposits increased 3.52% YoY to $7.18 billion
- Tax-equivalent net interest income rose 8.00% YoY to $74.19 million
- Net interest margin improved to 3.59%, up 11 basis points YoY
- Net recoveries of $1.99 million recorded for the quarter
The company maintained a strong financial position with a common equity-to-assets ratio of 11.75% and a Common Equity Tier 1 ratio of 13.74%.
1st Source Bank, listed on NASDAQ under the ticker SRCE, has been recognized by U.S. News & World Report as one of the 'Best Companies to Work For in the Midwest' for 2024 - 2025. This accolade is part of the Best Companies Ratings, which evaluates the top companies from the Russell 3000 list based on six key factors important to employee wellbeing: quality of pay and benefits, work/life balance, job and company stability, safety, career opportunities, and belongingness.
Chief Human Resources Officer Dan Lifferth emphasized the company's commitment to an engaging workplace that fosters both personal and professional growth, underpinned by core values of integrity, teamwork, and client service.
1st Source Bank operates 78 banking centers and has a strong presence in the northern Indiana-southwestern Michigan area, with assets totaling $8.7 billion.
1st Source Bank (NASDAQ: SRCE) has once again been included in the annual Bank Honor Roll by Keefe, Bruyette & Woods, Inc. (KBW) for the sixth consecutive year. This recognition places the bank's long-term performance among the top 5% of eligible banks in the United States. The Honor Roll now includes a second criterion based on a 10-year earnings per share (EPS) compound annual growth rate (CAGR), with banks needing more than $500 million in total assets to be eligible. 1st Source , the bank's parent company, is the largest locally controlled financial institution in the northern Indiana-southwestern Michigan area, with assets totaling $8.7 billion. The bank is committed to helping clients achieve security, build wealth, and realize their dreams.
1st Source announced the promotion of Andrea Short to President, who will continue as President and CEO of 1st Source Bank. Andrea has been with the company for 26 years and has a strong background in banking and leadership. The promotion reflects the company's commitment to internal talent development and succession planning.
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