1st Source Bank Makes KBW Bank Honor Roll for 6th Consecutive Year

Rhea-AI Summary

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.

Positive

• 1st Source Bank's inclusion in the KBW Bank Honor Roll for the sixth consecutive year demonstrates the bank's strong and consistent earnings growth.

• The bank's long-term performance has placed it among the top 5% of eligible banks in the United States, highlighting its financial stability and success.

• 1st Source 's assets totaling $8.7 billion solidify its position as the largest locally controlled financial institution in the northern Indiana-southwestern Michigan area.

Negative

• None.

Among 18 U.S. banks with the strongest/most consistent earnings growth

South Bend, Indiana--(Newsfile Corp. - May 9, 2024) - 1st Source Bank (NASDAQ: SRCE) once again made the annual Bank Honor Roll by Keefe, Bruyette & Woods, Inc. (KBW). This marks the sixth consecutive year that the bank has made the list, placing its long-term performance among the top 5% of eligible banks in the United States. Historically, the list was comprised of banks that had consistent earnings growth over the past 10 years. This year, KBW modified the Honor Roll to include a second criterion of the top 5% of banks based on a 10-year earnings per share (EPS) compounded annual growth rate (CAGR). Banks must also have more than $500 million in total assets to be eligible.

"Receiving this honor for the sixth year in a row is a welcome recognition of our team's commitment to serving our clients, our shareholders, and our colleagues," said Andrea Short, President and CEO of 1st Source Bank and President of parent company, 1st Source Corporation. "We are pleased to have another proof point that 1st Source is among the top performing banks in the country. It is confirmation that our mission of helping clients achieve security, build wealth, and realize their dreams also helps create a strong foundation on which to continue to build our organization."

KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S., and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors.

1st Source Corporation, parent company of 1st Source Bank, has assets of $8.7 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/.

Contact:
Hannah Nichols
NicholsHa@1stsource.com
574-235-2128

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SOURCE STRING: 1st Source Corporation

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208557

FAQ

How many years has 1st Source Bank been on the KBW Bank Honor Roll?

1st Source Bank has been on the KBW Bank Honor Roll for the sixth consecutive year.

What are the criteria for being included in the KBW Bank Honor Roll?

Banks need to demonstrate consistent earnings growth and have a 10-year earnings per share (EPS) compounded annual growth rate (CAGR) to be eligible. They must also have more than $500 million in total assets.

What is the total asset value of 1st Source ?

1st Source has assets totaling $8.7 billion.