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1st Source Announces Two Promotions with an Eye on the Future
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Rhea-AI Summary
1st Source Corporation announces leadership changes effective December 1, 2022. Andrea G. Short will become CEO of 1st Source Bank, while Christopher J. Murphy III continues as CEO of 1st Source Corporation. Short has a history with the bank since 1998 and has ascended through various roles to her current position. Kevin C. Murphy has been promoted to Chief Digital Officer and Executive VP at the bank. These appointments aim to address the company's challenges and foster leadership development, supporting its growth strategy.
Positive
Promotions of Andrea G. Short and Kevin C. Murphy signal a commitment to internal leadership development.
Andrea G. Short's extensive background in the bank enhances confidence in future leadership.
The focus on digital strategy may drive innovation and efficiency within the bank.
Negative
None.
SOUTH BEND, Ind.--(BUSINESS WIRE)--
1st Source Corporation and 1st Source Bank are pleased to announce that its Board of Directors has recently made two promotions with an eye on its future.
Chris Murphy (Photo: Business Wire)
Effective December 1, 2022, Andrea G. Short, President of 1st Source Bank will also become its CEO. Christopher J. Murphy III will remain Chairman, President and CEO of 1st Source Corporation and Chairman of 1st Source Bank. In her new role, Ms. Short will have Personal Banking, Business Banking, Specialty Finance, Wealth Advisory Services, Credit, and the Operations functions of the Bank reporting up through her. She remains an Executive Vice President of 1st Source Corporation.
Ms. Short is a CPA and joined 1st Source’s Tax Department in 1998 and in 2001 was promoted to Assistant Vice President and Tax Director. She successfully moved up the ranks as Senior Vice President and Controller, then Executive Vice President and Chief Financial Officer, and finally as President of the Bank and Executive Vice President of the Corporation. She is a graduate of Alma College with a B.A. in Business with an Accounting focus. She is also a graduate of the University of Chicago’s Booth School Chicago Management Institute and recently was graduated from The Harvard Business School’s Advanced Management Program.
Kevin C. Murphy has been named Chief Digital Officer and been promoted to Executive Vice President of the Bank and 1st Source Corporation. Other than interning with 1st Source as a CSR during his high school and college years, Mr. Murphy officially joined the Bank in 2006. His career has taken him through many different areas and management roles in the Bank: IT Web Development, Branch Systems, Treasury Products and Customer Support, Electronic Banking, Central Region President, Chief Information Officer and most recently as Group Head of IT, Marketing, and Digital Strategy. He was graduated from Wittenberg University with a B.A. in Political Science, DeVry University (Cum Laude) with a B.S. in Information Technology, and from the University of Notre Dame (Magna Cum Laude) with an MBA.
These promotions will take effect December 1, 2022 and recognize present day responsibilities, bring focus to the company’s most important challenges, continue a tradition of promoting from within, and prepare the company and bank for continued leadership development across the organization as it looks forward to years of future growth.
1st Source Corporation, parent company of 1st Source Bank, has assets of $8.1 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 79 banking centers, 19 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Advisory Services locations and 10 1st Source Insurance offices. For more than 155 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/.
What recent leadership changes occurred at 1st Source Corporation?
1st Source Corporation announced the promotion of Andrea G. Short to CEO of 1st Source Bank and Kevin C. Murphy to Chief Digital Officer, effective December 1, 2022.
Who is now the CEO of 1st Source Bank?
Effective December 1, 2022, Andrea G. Short has been promoted to CEO of 1st Source Bank.
What is the significance of the recent promotions at 1st Source Corporation?
The promotions aim to address current challenges and foster leadership development for future growth.
How long has Andrea G. Short worked at 1st Source Bank?
Andrea G. Short joined 1st Source Bank in 1998, bringing over two decades of experience to her new role.
What is the primary focus of Kevin C. Murphy's new role as Chief Digital Officer?
Kevin C. Murphy's focus will be on enhancing the bank's digital strategy, which is critical for innovation and customer engagement.
