NASDAQ : SRCE
1st Source Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 88.23 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.13B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 469.49M | 471.01M | 451.33M | 387.30M | 263.89M | 235.03M |
| Interest Income on Investments | 54.02M | 43.38M | 32.69M | 29.61M | 29.92M | 19.74M |
| Total Interest Income | 523.51M | 514.39M | 484.02M | 416.91M | 293.82M | 254.77M |
| Interest Paid on Deposits | 139.14M | 155.91M | 166.84M | 123.16M | 25.23M | 12.28M |
| Interest Paid on Borrowings | 12.21M | 10.30M | 16.36M | 15.10M | 5.12M | 5.86M |
| Total Interest Expense | 151.35M | 166.22M | 183.20M | 138.26M | 30.35M | 18.13M |
| Net Interest Income | 372.16M | 348.18M | 300.82M | 278.65M | 263.47M | 236.64M |
| Trust Income | 30.69M | 27.87M | 26.71M | 23.71M | 23.11M | 23.78M |
| Mortgage Banking Activities | 3.99M | 4.10M | 4.21M | 3.47M | 4.12M | 11.01M |
| Gain (Loss) on Sale of Investments | -10.38M | -9.45M | -4.75M | -2.93M | -184.00K | -680.00K |
| Other Non-Interest Income | 51.91M | 49.90M | 47.26M | 53.62M | 52.07M | 54.58M |
| Total Non-Interest Income | 90.25M | 85.60M | 86.31M | 90.62M | 91.26M | 99.28M |
| Revenues Before Loan Losses | 462.41M | 433.78M | 387.12M | 369.27M | 354.73M | 335.92M |
| Provision for Loan Losses | 10.43M | 12.56M | 12.47M | 5.87M | 13.24M | -4.30M |
| Revenue | 451.99M | 421.22M | 374.66M | 363.40M | 341.49M | 340.22M |
| Salaries and Employee Benefits | 125.11M | 123.37M | 116.25M | 110.72M | 101.52M | 101.59M |
| Occupancy Expenses | 9.74M | 8.91M | 8.07M | 7.35M | 7.17M | 7.02M |
| Federal Deposit Insurance | 5.83M | 5.79M | 6.14M | 5.93M | 3.62M | 2.68M |
| Selling, General & Administrative | 65.94M | 64.69M | 60.74M | 60.29M | 58.03M | 63.95M |
| Other Non-Interest Expense | 14.70M | 14.07M | 11.54M | 17.43M | 14.29M | 10.90M |
| Total Non-Interest Expense | 221.32M | 216.84M | 202.75M | 201.72M | 184.64M | 186.15M |
| EBT Excluding Unusual Items | 230.67M | 204.38M | 171.91M | 161.68M | 156.85M | 154.07M |
| Asset Writedown | -60.00K | 812.00K | ||||
| Other Unusual Items | -850.00K | |||||
| Pretax Income | 230.67M | 204.38M | 171.06M | 161.68M | 156.79M | 154.88M |
| Income Tax Expense | 52.49M | 46.12M | 38.44M | 36.75M | 36.26M | 36.33M |
| Earnings From Continuing Operations | 178.18M | 158.26M | 132.62M | 124.93M | 120.53M | 118.56M |
| Minority Interest in Earnings | 8.00K | 18.00K | 5.00K | -7.00K | -23.00K | -23.00K |
| Net Income | 178.18M | 158.28M | 132.62M | 124.93M | 120.51M | 118.53M |
| Preferred Dividends & Other Adjustments | 1.85M | 1.41M | 1.23M | 1.19M | 995.00K | 928.00K |
| Net Income to Common | 176.33M | 156.86M | 131.40M | 123.74M | 119.51M | 117.61M |
| Basic Shares Outstanding | 24.21M | 24.49M | 24.50M | 24.62M | 24.69M | 25.04M |
| Diluted Shares Outstanding | 24.21M | 24.49M | 24.50M | 24.62M | 24.69M | 25.04M |
| EPS (Basic) | 7.28 | 6.41 | 5.36 | 5.03 | 4.84 | 4.70 |
| EPS (Diluted) | 7.28 | 6.41 | 5.36 | 5.03 | 4.84 | 4.70 |
| Dividend Per Share | 0.40 | 1.56 | 1.42 | 1.32 | 1.27 | 1.23 |
| Effective Tax Rate | 22.76% | 22.56% | 22.47% | 22.73% | 23.12% | 23.46% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 104.80M | 119.86M | 124.83M | 129.67M | 122.80M | 525.19M |
| Investment Securities | 962.11M | 1.03B | 1.07B | 1.30B | 1.37B | 1.36B |
| Trading Asset Securities | 22.18M | 16.49M | 16.42M | 22.70M | 24.84M | 20.73M |
| Mortgage-Backed Securities | 694.38M | 712.14M | 695.92M | 598.25M | 637.06M | 659.73M |
| Total Investments | 1.68B | 1.75B | 1.78B | 1.92B | 2.03B | 2.04B |
| Gross Loans | 7.34B | 7.09B | 6.90B | 6.58B | 6.06B | 5.37B |
| Allowance for Loan Losses | -167.16M | -161.85M | -155.54M | -147.55M | -139.27M | -127.49M |
| Other Adjustments to Gross Loans | -39.72M | -45.06M | -57.93M | -50.63M | -22.55M | |
| Net Loans | 7.17B | 6.88B | 6.70B | 6.37B | 5.87B | 5.22B |
| Property, Plant & Equipment | 84.93M | 85.41M | 86.02M | 88.22M | 97.39M | 117.54M |
| Goodwill | 83.89M | 83.89M | 83.89M | 83.87M | 83.87M | |
| Other Intangible Assets | 83.89M | 2.00K | 21.00K | 40.00K | 60.00K | |
| Loans Held for Sale | 3.33M | 4.87M | 2.57M | 1.44M | 3.91M | 13.28M |
| Accrued Interest Receivable | 35.88M | 35.54M | 32.79M | 30.23M | 24.75M | 17.76M |
| Other Real Estate Owned & Foreclosed | 2.36M | 267.00K | 615.00K | 705.00K | 431.00K | 861.00K |
| Other Long-Term Assets | 123.87M | 86.85M | 123.10M | 106.62M | 101.04M | 77.02M |
| Total Assets | 9.34B | 9.06B | 8.93B | 8.73B | 8.34B | 8.10B |
| Accrued Expenses | 163.37M | 128.37M | 131.24M | 151.19M | 115.81M | 70.77M |
| Interest Bearing Deposits | 5.80B | 4.94B | 4.69B | 4.43B | 4.33B | 4.34B |
| Institutional Deposits | 685.03M | 897.93M | 953.09M | 600.37M | 290.89M | |
| Non-Interest Bearing Deposits | 1.67B | 1.60B | 1.64B | 1.66B | 2.00B | 2.05B |
| Total Deposits | 7.47B | 7.23B | 7.23B | 7.04B | 6.93B | 6.68B |
| Short-Term Borrowings | 256.22M | 255.42M | 265.93M | 335.50M | 240.84M | 221.20M |
| Current Portion of Leases | 3.97M | |||||
| Long-Term Debt | 35.63M | 5.55M | 7.08M | 5.52M | 7.33M | 6.50M |
| Federal Home Loan Bank Debt, Long-Term | 10.00M | 10.00M | 20.75M | 21.32M | 44.15M | |
| Long-Term Leases | 12.60M | 18.15M | 19.41M | 19.63M | 21.36M | |
| Trust Preferred Securities | 58.76M | 58.76M | 58.76M | 58.76M | 58.76M | 58.76M |
| Other Long-Term Liabilities | 8.63M | 36.94M | 29.24M | 29.97M | 23.69M | 25.01M |
| Total Liabilities | 7.99B | 7.74B | 7.75B | 7.66B | 7.42B | 7.13B |
| Common Stock | 436.54M | 436.54M | 436.54M | 436.54M | 436.54M | 436.54M |
| Retained Earnings | 1.12B | 1.02B | 890.94M | 789.84M | 694.86M | 603.79M |
| Treasury Stock | -164.48M | -141.95M | -129.18M | -130.49M | -119.64M | -114.21M |
| Comprehensive Income & Other | -76.11M | -34.78M | -87.23M | -106.32M | -147.69M | -9.86M |
| Total Common Equity | 1.32B | 1.27B | 1.11B | 989.57M | 864.07M | 916.25M |
| Minority Interest | 30.90M | 43.12M | 70.44M | 78.69M | 59.70M | 53.21M |
| Shareholders' Equity | 1.35B | 1.32B | 1.18B | 1.07B | 923.77M | 969.46M |
| Total Liabilities & Equity | 9.34B | 9.06B | 8.93B | 8.73B | 8.34B | 8.10B |
| Total Debt | 350.62M | 346.30M | 359.92M | 439.95M | 347.88M | 351.98M |
| Net Cash (Debt) | -223.65M | -209.95M | -218.67M | -287.57M | -200.25M | 193.94M |
| Net Cash Per Share | -9.24 | -8.57 | -8.93 | -11.68 | -8.11 | 7.75 |
| Filing Date Shares Outstanding | 24.08M | 24.33M | 24.55M | 24.46M | 24.70M | 24.75M |
| Total Common Shares Outstanding | 24.08M | 24.37M | 24.52M | 24.43M | 24.66M | 24.74M |
| Book Value Per Share | 54.79 | 52.32 | 45.31 | 40.50 | 35.04 | 37.04 |
| Tangible Book Value | 1.24B | 1.19B | 1.03B | 905.65M | 780.16M | 832.33M |
| Tangible Book Value Per Share | 51.31 | 48.88 | 41.89 | 37.06 | 31.63 | 33.64 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 178.18M | 158.28M | 132.62M | 124.93M | 120.51M | 118.53M |
| Depreciation & Amortization | 9.74M | 9.11M | 8.31M | 8.48M | 9.08M | 10.32M |
| Other Amortization | 1.73M | 2.42M | 4.07M | 7.09M | 10.02M | 13.69M |
| Gain (Loss) on Sale of Assets | -499.00K | -229.00K | -214.00K | -123.00K | -410.00K | -672.00K |
| Gain (Loss) on Sale of Investments | 6.01M | 5.56M | 5.60M | 6.87M | 4.13M | 7.36M |
| Total Asset Writedown | -812.00K | |||||
| Provision for Credit Losses | 10.43M | 12.56M | 12.47M | 5.87M | 13.24M | -4.30M |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 6.47M | -586.00K | -221.00K | 3.40M | 10.98M | 6.67M |
| Accrued Interest Receivable | -3.74M | -2.75M | -2.56M | -5.49M | -6.99M | 2.48M |
| Change in Other Net Operating Assets | 23.90M | 52.93M | 19.46M | 21.95M | 22.32M | 2.77M |
| Other Operating Activities | 3.70M | -6.90M | 2.59M | -12.52M | -13.46M | 15.68M |
| Operating Cash Flow | 236.39M | 223.12M | 193.85M | 187.94M | 175.53M | 166.76M |
| Capital Expenditures | -6.39M | -10.08M | -12.37M | -5.98M | -2.38M | -2.89M |
| Sale of Property, Plant and Equipment | 1.55M | 2.36M | 5.42M | 4.38M | 6.76M | 3.04M |
| Investment in Securities | -83.45M | 53.86M | 72.89M | 149.05M | -113.67M | -734.78M |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -395.66M | -205.97M | -346.28M | -507.62M | -668.23M | 131.79M |
| Other Investing Activities | 4.13M | 5.61M | 3.73M | 1.89M | -7.35M | 4.28M |
| Investing Cash Flow | -479.81M | -154.22M | -276.61M | -358.29M | -784.87M | -598.56M |
| Short-Term Debt Issued | 96.83M | 15.50M | 49.39M | |||
| Total Debt Issued | 96.83M | 15.50M | 49.39M | |||
| Short-Term Debt Repaid | -10.58M | -63.16M | ||||
| Long-Term Debt Repaid | -2.35M | -12.63M | -3.45M | -25.53M | -13.46M | |
| Total Debt Repaid | 147.74M | -12.92M | -75.79M | -3.45M | -25.53M | -13.46M |
| Net Debt Issued (Repaid) | 147.74M | -12.92M | -75.79M | 93.38M | -10.03M | 35.93M |
| Issuance of Common Stock | 132.00K | 133.00K | 153.00K | 78.00K | 252.00K | 90.00K |
| Repurchase of Common Stock | -27.55M | -13.87M | -178.00K | -12.47M | -6.84M | -33.14M |
| Common Dividends Paid | -42.12M | -38.43M | -35.40M | -33.07M | -32.10M | -31.34M |
| Net Increase (Decrease) in Deposit Accounts | 59.39M | -4.46M | 191.45M | 110.32M | 249.20M | 733.04M |
| Other Financing Activities | -3.64M | -4.32M | -2.33M | 18.99M | 6.47M | 9.36M |
| Financing Cash Flow | 133.96M | -73.87M | 77.91M | 177.22M | 206.95M | 713.94M |
| Net Cash Flow | -109.46M | -4.97M | -4.84M | 6.87M | -402.39M | 282.14M |
| Free Cash Flow | 230.00M | 213.03M | 181.49M | 181.96M | 173.15M | 163.88M |
| Free Cash Flow Margin | 50.89% | 50.58% | 48.44% | 50.07% | 50.70% | 48.17% |
| Free Cash Flow Per Share | 9.50 | 8.70 | 7.41 | 7.39 | 7.01 | 6.54 |
| Cash Interest Paid | 155.22M | 177.98M | 176.23M | 114.74M | 26.23M | 20.25M |
| Cash Income Tax Paid | 18.95M | -6.68M | 11.28M | 17.80M | 23.26M | 15.36M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.11B | 1.53B | 1.43B | 1.34B | 1.31B | 1.23B |
| Last Close Price | 87.42 | 61.45 | 55.99 | 51.39 | 48.26 | 43.95 |
| PE Ratio | 12.00 | 9.73 | 10.89 | 10.85 | 10.95 | 10.46 |
| PS Ratio | 4.66 | 3.62 | 3.82 | 3.69 | 3.83 | 3.62 |
| PB Ratio | 1.60 | 1.16 | 1.21 | 1.26 | 1.42 | 1.27 |
| P/FCF Ratio | 9.15 | 7.17 | 7.89 | 7.38 | 7.56 | 7.50 |
| P/OCF Ratio | 8.91 | 6.84 | 7.38 | 7.14 | 7.46 | 7.38 |
| Debt / Equity Ratio | 0.26 | 0.26 | 0.30 | 0.41 | 0.38 | 0.36 |
| Debt / FCF Ratio | 1.52 | 1.63 | 1.98 | 2.42 | 2.01 | 2.15 |
| Net Debt / Equity Ratio | 0.17 | 0.16 | 0.18 | 0.27 | 0.22 | -0.20 |
| Net Debt / FCF Ratio | 0.97 | 0.99 | 1.21 | 1.58 | 1.16 | -1.18 |
| Return on Equity (ROE) | 13.49% | 12.66% | 11.79% | 12.54% | 12.73% | 12.48% |
| Return on Assets (ROA) | 1.94% | 1.76% | 1.50% | 1.46% | 1.47% | 1.54% |
| Earnings Yield | 8.33% | 10.37% | 9.27% | 9.31% | 9.21% | 9.64% |
| FCF Yield | 10.92% | 13.95% | 12.68% | 13.55% | 13.23% | 13.32% |
| Dividend Yield | 1.97% | 2.49% | 2.43% | 2.40% | 2.39% | 2.47% |
| Payout Ratio | 23.75% | 24.28% | 26.69% | 26.47% | 26.64% | 26.44% |
| Buyback Yield / Dilution | 1.28% | 0.04% | 0.48% | 0.29% | 1.40% | 1.91% |
| Total Shareholder Return | 3.25% | 2.53% | 2.92% | 2.69% | 3.79% | 4.38% |