OverviewSuggest Edit

1st Source Corporation is a bank holding company providing a range of financial products and services. Its banking subsidiary, 1st Source Bank, offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients. Through its Specialty Finance Group, the company also provides specialized financing services for construction equipment, new and used private and cargo aircraft, and various vehicle types for fleet purposes.

TypePublic
Founded1863
HQSouth Bend, IN, US
Website1stsource.com
Employee Ratings3.6

Latest Updates

Employees (est.) (Dec 2019)1,175(+3%)
Job Openings90
Revenue (FY, 2020)$103.9 M(-72%)
Share Price (Oct 2021)$49.6(+3%)
Cybersecurity ratingBMore
Discover new suppliers and conduct deeper comparison analysis with Craft for EnterpriseLearn more
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Key People/Management at 1st Source

Christopher J. Murphy

Christopher J. Murphy

Chairman and CEO
Christopher L. Craft

Christopher L. Craft

President and Chief Operating Officer, Specialty Finance Group, 1st Source Bank
John B. Griffith

John B. Griffith

Executive Vice President, Chief Administration Officer, Secretary and General Counsel, 1st Source Corporation and 1st Source Bank
Jeffrey L. Buhr

Jeffrey L. Buhr

Executive Vice President and Chief Credit Officer, 1st Source Bank
Andrea G. Short

Andrea G. Short

President and CFO
James R. Seitz

James R. Seitz

President, 1st Source Bank and 1st Source Corporation
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1st Source Office Locations

1st Source has offices in South Bend, Elkhart, Fort Wayne, Goshen and in 6 other locations
South Bend, IN, US (HQ)
100 N Michigan St
Elkhart, IN, US
131 E Franklin St #18
Fort Wayne, IN, US
200 E Main St #720
Fort Wayne, IN, US
2532 Goshen Rd
Goshen, IN, US
101 S Main St
Knox, IN, US
1620 US-35
Show all (11)

1st Source Financials and Metrics

1st Source Revenue

1st Source's revenue was reported to be $103.89 m in FY, 2020
USD

Revenue (Q1, 2021)

25.9m

Net income (Q1, 2021)

28.1m

Market capitalization (22-Oct-2021)

1.3b

Closing stock price (22-Oct-2021)

49.6

Cash (31-Mar-2021)

336.0m

EV

1.1b
1st Source's current market capitalization is $1.3 b.
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

311.1m354.4m384.0m103.9m

Revenue growth, %

11%14%8%

Cost of goods sold

26.8m43.4m59.0m

Gross profit

284.3m311.0m325.0m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Revenue

72.7m76.5m80.0m83.0m88.9m89.8m93.1m97.3m98.4m92.3m25.2m28.0m25.9m

Cost of goods sold

5.6m6.5m7.2m8.7m10.7m11.3m14.1m15.2m15.5m12.8m

Gross profit

67.0m70.0m72.8m74.3m78.2m78.4m79.1m82.1m83.0m79.5m

Gross profit Margin, %

92%91%91%90%88%87%85%84%84%86%
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Cash

73.6m94.9m67.2m243.0m

Accounts Receivable

4.4b4.7b5.0b5.3b

PP&E

54.6m52.1m52.2m49.4m

Goodwill

83.9m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Cash

58.4m63.5m64.6m29.4m71.1m68.4m64.6m71.9m94.2m72.8m180.2m154.2m336.0m

Accounts Receivable

4.1b4.3b4.3b4.6b4.7b4.7b4.8b5.0b5.0b5.0b5.6b5.5b5.4b

PP&E

55.2m54.8m53.3m54.8m53.4m53.5m51.4m51.6m51.7m52.4m51.5m49.9m48.3m

Goodwill

84.0m84.0m83.9m
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Net Income

68.1m82.4m92.0m81.5m

Depreciation and Amortization

30.9m31.9m5.8m5.7m

Accounts Payable

1.2m3.0m5.0m

Cash From Operating Activities

117.3m144.4m164.6m154.5m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Net Income

16.2m32.9m50.1m19.1m41.1m61.0m22.2m45.6m70.1m16.4m34.9m55.0m28.1m

Depreciation and Amortization

7.1m14.7m22.9m7.7m15.8m23.8m8.0m15.9m4.4m1.4m2.8m4.3m1.4m

Accounts Payable

(225.0k)357.0k1.3m1.1m2.5m3.8m2.4m4.0m5.9m(199.0k)

Cash From Operating Activities

34.2m57.7m98.7m34.3m69.8m92.4m32.2m56.0m83.2m33.3m44.4m97.0m42.5m
USDQ1, 2017

Debt/Equity

0.6 x

Debt/Assets

0.1 x

Financial Leverage

8 x
Show all financial metrics

1st Source Operating Metrics

1st Source's Assets Under Management was reported to be $3.8b in Q1, 2020. 1st Source's Total Loans was reported to be $5.1b in Q1, 2020.
Show all operating metrics

1st Source Acquisitions / Subsidiaries

Company NameDateDeal Size
1st Source Bank
1st Source Capital Corporation
1st Source Corporation Investment Advisors, Inc.
1st Source Funding, LLC
1st Source Insurance, Inc.
1st Source Intermediate Holding, LLC
1st Source Master Trust
1st Source Solar 1, LLC
1st Source Solar 2, LLC
1st Source Specialty Finance, Inc.
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1st Source Cybersecurity Score

Cybersecurity ratingPremium dataset

B

88/100

SecurityScorecard logo

1st Source Online and Social Media Presence

Embed Graph

1st Source News and Updates

1st Source Bank Taps ACI Worldwide to Accelerate Digital Banking Across the Midwest

ACI’s cloud-based digital banking solution allows 1st Source to effectively compete with larger banks and increase cash management market share.read more

1st Source Frequently Asked Questions

  • When was 1st Source founded?

    1st Source was founded in 1863.

  • Who are 1st Source key executives?

    1st Source's key executives are Christopher J. Murphy, Christopher L. Craft and John B. Griffith.

  • How many employees does 1st Source have?

    1st Source has 1,175 employees.

  • What is 1st Source revenue?

    Latest 1st Source annual revenue is $103.9 m.

  • What is 1st Source revenue per employee?

    Latest 1st Source revenue per employee is $88.4 k.

  • Who are 1st Source competitors?

    Competitors of 1st Source include American Financial Group, Brighthouse Financial and UMB Financial.

  • Where is 1st Source headquarters?

    1st Source headquarters is located at 100 N Michigan St, South Bend.

  • Where are 1st Source offices?

    1st Source has offices in South Bend, Elkhart, Fort Wayne, Goshen and in 6 other locations.

  • How many offices does 1st Source have?

    1st Source has 11 offices.