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1st Source Company profile

About 1st Source Corporation

1st Source Corporation is a bank holding company. The Company through its subsidiary, 1st Source Bank offers a range of consumer and commercial banking services through its lending operations, retail branches and fee-based businesses. 1st Source Bank provides commercial, small business, agricultural and real estate loans to primarily privately owned business clients. Loans are made for a variety of general corporate purposes, including financing for industrial and commercial properties, financing for equipment, inventories and accounts receivable, renewable energy financing, and acquisition financing. 1st Source Bank provides a range of consumer banking products and services through its banking centers and at 1stsource.com. 1st Source also offers insurance products through 1st Source Insurance offices or in its banking centers. The traditional banking services include checking and savings accounts, certificates of deposits and Individual Retirement Accounts.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, 1st Source Corporation interest income decreased 3% to $254.8M. Net interest income after loan loss provision increased 15% to $240.9M. Net income applicable to common stockholders increased 45% to $117.6M. Net interest income after loan loss provision reflects Other increase of 7% to $1.4M. Net income benefited from Deposits decrease of 60% to $12.3M (expense).

Equity composition

Common Stock no Par, 03/11, 40M auth., 25,643,506 issd., less 1,339,860 shs. in Treas. @ $29.7M. Insiders control 34.97%. PO:12/86, 300K shares @ $17.25 by Edward Jones. 5/01, 8/00, 2/96, 1/95, 1/94, 1/91, 5% stock divs. 2/99, 2/98, 1/90, 10% stock divs. 8/06, 10% stock dividend. 08/15, 10%, Stock dividend.