As the parent company of 1st Source Bank, 1st Source Corporation delivers a comprehensive suite of financial solutions, encompassing commercial and retail ...
1st Source Corporation is a regional financial services company headquartered at 100 North Michigan Street in South Bend, Indiana. Its operating history dates to 1863, when the institution was chartered as the First National Bank of South Bend. 1st Source Corporation was later established as a bank holding company in ...1st Source Corporation is a regional financial services company headquartered at 100 North Michigan Street in South Bend, Indiana. Its operating history dates to 1863, when the institution was chartered as the First National Bank of South Bend. 1st Source Corporation was later established as a bank holding company in 1971. Through its principal subsidiary, 1st Source Bank, the company has developed a locally focused banking franchise serving northern Indiana and southwestern Michigan. It is described as the largest locally controlled financial institution headquartered in that region.
The company’s business is diversified across several financial categories. Retail and consumer banking includes checking and savings accounts, certificates of deposit, individual retirement accounts, online and mobile banking, debit and credit cards, personal loans, residential mortgages, and home-equity lines of credit. Commercial banking provides loans and deposit services to small businesses, middle-market companies, agricultural customers, and real-estate borrowers. Commercial customers may use financing for property acquisitions, construction, equipment purchases, working capital, accounts receivable, renewable-energy projects, and other operating needs. Treasury-management services help businesses manage payments, liquidity, deposits, fraud controls, and cash flows.
1st Source also maintains specialized finance capabilities, including commercial leasing and equipment lending. These activities cover construction equipment, aircraft, trucks, motor coaches, shuttle buses, vocational vehicles, funeral vehicles, automobiles, and other specialized assets. This niche financing can complement traditional banking by providing structured loans and leases for customers whose equipment needs require industry-specific expertise. The company’s wealth advisory operations provide trust, custodial, agency, estate-administration, investment-management, and employee-benefit-plan services for individuals, families, corporations, charitable organizations, and institutions. Insurance offerings include personal and commercial property and casualty coverage, as well as individual and group health and life products.
The company operates a branch network concentrated in its core Midwestern markets, with supplied sources citing approximately 79 to 81 branches and more than 1,100 employees. The provided financial data reports approximately 1,190 full-time employees and nearly $8 billion in assets, while more recent company search material references roughly $9.3 billion in assets and more than 1,200 employees. These differences likely reflect reporting dates and data-source updates. The company’s financial model is typical of a bank: it earns interest income from loans and securities, pays interest on deposits and other funding, and supplements net interest revenue with fees from wealth management, leasing, insurance, treasury services, and other activities. Major economic cost drivers include deposit funding costs, credit losses, personnel and branch expenses, technology investment, regulatory compliance, occupancy, and provisions for loan losses. Unlike a manufacturing business, 1st Source has no conventional bill-of-materials cost structure; its primary balance-sheet resources are deposits, capital, liquidity, technology, and credit underwriting capacity.
The supplied trailing data indicates a market capitalization of approximately $2.12 billion, a price-to-earnings ratio near 12.6, return on equity of approximately 13.4%, and a dividend yield near 1.9%, although market and financial metrics change over time. Andrea Gayle Short is identified as chief executive officer in the supplied data. The company’s stated mission centers on helping clients achieve security, build wealth, and realize their financial goals. Its principal strategic strengths are long operating history, regional relationships, locally oriented decision-making, diversified fee businesses, and specialized equipment-finance expertise. Key ongoing priorities are likely maintaining credit quality, growing deposits, managing interest-rate sensitivity, investing in digital banking, controlling operating costs, meeting regulatory requirements, and sustaining attractive returns while supporting customers and communities in its core markets.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$600.0M
+5.2%
+4.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$158.3M
+19.3%
+19.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+70.3%
+7.0%
+5.2%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+34.2%
+14.0%
+13.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+26.4%
+13.4%
+13.7%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$213.0M
+17.4%
-10.6%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+35.5%
+11.6%
-14.6%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
26.7%
-8.7%
-25.2%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
12.62x
+9138.2%
+187.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
