1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and investment management services, and insurance to individual and business clients. Its banking services include various deposit and lending products as well as financial planning, financial literacy, and other consultative services. The Company also offers commercial leasing, treasury management, and retirement planning services. In addition, it provides a range of trust, investment, agency, and custodial services, and manages investment accounts for individuals, employee benefit plans, and charitable foundations. Further, it provides corporate and personal property, casualty, and individual and group health and life insurance products and services, and investment advisory services to trust and investment clients.

Employee Rating

3.4More
TypePublic
HQSouth Bend, US
Founded1863
Size (employees)1,125 (est)-2%
Website1stsource.com
1st Source was founded in 1863 and is headquartered in South Bend, US
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1st Source Office Locations

1st Source has an office in South Bend
South Bend, US (HQ)
100 North Michigan Street P.O. Box 1602
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1st Source Financials and Metrics

1st Source Revenue

1st Source's revenue was reported to be $311.09 m in FY, 2017
USD

Revenue (Q3, 2018)

89.8m

Gross profit (Q3, 2018)

78.4m

Gross profit margin (Q3, 2018), %

87.4%

Net income (Q3, 2018)

19.9m

EBIT (Q3, 2018)

54.4m

Market capitalization (9-Nov-2018)

1.2b

Closing stock price (9-Nov-2018)

47.5

Cash (30-Sep-2018)

68.4m
1st Source's current market capitalization is $1.2 b.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

179.6m256.4m268.0m280.7m311.1m

Revenue growth, %

43%5%33%

Cost of goods sold

18.2m22.1m26.8m

Gross profit

249.8m258.6m284.3m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

67.7m68.0m68.4m70.2m71.0m72.7m76.5m80.0m83.0m88.9m89.8m

Cost of goods sold

4.5m4.6m5.5m5.6m5.6m5.6m6.5m7.2m8.7m10.7m11.3m

Gross profit

63.2m63.3m62.9m64.6m65.4m67.0m70.0m72.8m74.3m78.2m78.4m

Gross profit Margin, %

93%93%92%92%92%92%91%91%90%88%87%
Annual
USDFY, 2013FY, 2015FY, 2016FY, 2017

Cash

77.6m65.2m58.6m73.6m

Accounts Receivable

Inventories

Total Assets

4.7b5.2b5.5b5.9b
Quarterly
USDQ3, 2014Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

54.5m66.3m61.1m52.4m58.9m65.7m58.4m63.5m64.6m29.4m71.1m68.4m

Total Assets

4.8b5.0b5.1b5.2b5.4b5.4b5.5b5.7b5.8b6.1b6.3b6.3b

Accounts Payable

3.8b4.0b4.0b4.2b4.3b4.4b4.3b4.5b4.6b4.8b5.1b5.1b

Total Liabilities

4.2b4.4b4.5b4.6b4.7b4.8b4.8b5.0b5.1b5.3b5.6b5.5b
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

55.0m58.1m57.5m57.8m68.1m

Inventories

Accounts Payable

Short-term Borrowings

(12.6m)58.7m(77.3m)
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

14.5m14.9m13.5m29.1m43.1m13.8m28.3m42.6m16.2m32.9m50.1m19.1m41.1m61.0m

Short-term Borrowings

16.4m37.7m(51.3m)(27.3m)(17.2m)(12.2m)14.6m24.8m141.4m62.5m76.1m

Long-term Borrowings

(743.0k)(924.0k)(387.0k)(5.7m)(5.9m)(401.0k)(25.8m)(26.0m)(636.0k)(1.1m)(1.6m)
USDY, 2018

Financial Leverage

8.4 x
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1st Source Operating Metrics

1st Source's Assets Under Management was reported to be $4.2b in FY, 2016. 1st Source's Total Loans was reported to be $4.4b in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Assets Under Management

$3.95 b$3.78 b$4.19 b

Non-accrual Loans

$34.60 m$21.36 m$15.08 m$18.99 m$12.72 m$12.98 m$12.58 m$19.92 m$19.91 m$18.09 m$15.92 m

Non-performing Loans

$35.58 m$12.84 m$20.32 m

Total Loans

$3.69 b$3.70 b$3.85 b$3.96 b$3.99 b$4.03 b$4.15 b$4.18 b$4.19 b$4.23 b$4.38 b
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1st Source Online and Social Media Presence

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1st Source Company Life and Culture

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1st Source Frequently Asked Questions

  • When was 1st Source founded?

    1st Source was founded in 1863.

  • How many employees does 1st Source have?

    1st Source has 1,125 employees.

  • What is 1st Source revenue?

    Latest 1st Source annual revenue is $311.1 m.

  • What is 1st Source revenue per employee?

    Latest 1st Source revenue per employee is $276.5 k.

  • Who are 1st Source competitors?

    Competitors of 1st Source include Sterling Bancorp, Parke Bancorp and Oak Valley Bancorp.

  • Where is 1st Source headquarters?

    1st Source headquarters is located at 100 North Michigan Street P.O. Box 1602, South Bend.

  • Where are 1st Source offices?

    1st Source has an office in South Bend.

  • How many offices does 1st Source have?

    1st Source has 1 office.