1St Source Stock Price, News & Analysis

1st Source Corporation (NASDAQ: SRCE) reported Q2 2025 results with net income of $37.32 million ($1.51 per diluted share), showing a slight decrease from Q1 but a 1.43% increase year-over-year. The company declared a quarterly cash dividend of $0.38 per share, up 5.56% from the previous year.

Key highlights include average loan and lease growth of $169.51 million (2.49% quarterly increase), tax-equivalent net interest income of $85.35 million (up 5.25% quarterly), and a net interest margin of 4.01%. The company recorded a provision for credit losses of $7.69 million, with nonperforming assets ratio increasing to 1.06% from 0.63% in Q1 2025.

The quarter included $1.00 million in pre-tax losses from the sale of available-for-sale securities, while maintaining strong capital ratios with a Common Equity Tier 1 ratio of 14.60%.

1st Source Corporation (NASDAQ: SRCE) has announced the promotion of Brian Duba to General Counsel and Secretary of both 1st Source Corporation and 1st Source Bank. Duba, who joined the company as Deputy General Counsel in September 2024, will maintain his Senior Vice President position while managing all legal affairs, regulatory relationships, and providing legal guidance to senior management.

Duba brings extensive legal experience in banking, industrial production, real estate, and corporate law. The former General Counsel and Secretary, John Griffith, will continue as Executive Vice President and Chief Risk Officer, focusing on risk management and oversight functions. 1st Source Corporation currently manages $9.0 billion in assets and operates 78 banking centers, along with various specialty finance, trust, insurance, and loan production locations.

1st Source Corporation (NASDAQ: SRCE) has been named to the prestigious KBW Bank Honor Roll for the seventh consecutive year, positioning itself among just 16 elite U.S. banks representing the top 5% of eligible institutions. To qualify, banks must have assets exceeding $500 million and demonstrate either consistent earnings growth over the past decade or rank in the top 5% based on 10-year EPS CAGR.

The company, with $9.0 billion in assets, is the largest locally controlled financial institution in the northern Indiana-southwestern Michigan area. 1st Source operates 78 banking centers, 18 Specialty Finance Group locations, 9 Trust and Wealth Advisory Services locations, 10 insurance offices, and 3 loan production offices.

1st Source (NASDAQ: SRCE) reported record first quarter 2025 results with net income of $37.52 million, up 19.35% from previous quarter and 27.38% year-over-year. Diluted earnings per share reached $1.52, a 27.73% increase from Q1 2024.

Key performance metrics showed strong growth with return on average assets at 1.72% and return on equity at 13.33%. The Board approved a quarterly cash dividend of $0.38 per share, up 11.76% year-over-year. Average loans grew by $122.53 million (1.84%) quarter-over-quarter, while deposits increased by $187.39 million (2.62%).

The bank's tax-equivalent net interest margin improved to 3.90%, up 12 basis points from the previous quarter. The allowance for loan and lease losses stood at 2.29% of total loans, with minimal net charge-offs of $0.18 million for the quarter.

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.

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.