Last $34.56 USD
Change Today +0.06 / 0.17%
Volume 13.1K
SRCE On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

1st source corp (SRCE) Snapshot

Open
$34.70
Previous Close
$34.50
Day High
$34.99
Day Low
$34.31
52 Week High
12/26/14 - $34.99
52 Week Low
01/31/14 - $27.56
Market Cap
824.7M
Average Volume 10 Days
48.9K
EPS TTM
$2.32
Shares Outstanding
23.9M
EX-Date
11/3/14
P/E TM
14.9x
Dividend
$0.72
Dividend Yield
2.05%
Current Stock Chart for 1ST SOURCE CORP (SRCE)

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1st source corp (SRCE) Details

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 consumer banking services include checking and savings accounts; certificates of deposits and individual retirement accounts; on-line and mobile banking products; automated teller machine services; consumer loans, real estate loans, and lines of credit; and financial planning, financial literacy, and other services. The company also offers commercial, small business, agricultural, and real estate loans for general corporate purposes, including financing for industrial and commercial properties, equipment, inventories, accounts receivables, and acquisition; and commercial leasing, cash management, and retirement planning services. In addition, it provides a range of trust, investment, agency, and custodial services comprising administration of estates and personal trusts for individual, corporate, and not-for-profit clients; and manages investment accounts for individuals, employee benefit plans, and charitable foundations. Further, the company offers equipment loan and lease finance products for auto and light trucks, medium and heavy duty trucks, new and used aircraft, and construction and environmental equipment, as well as leases construction equipment, medium and heavy duty trucks, automobiles, and other equipment. Additionally, it provides corporate and personal property, casualty, and individual and group health and life insurance products and services to individuals and businesses; and investment advisory services to trust and investment clients. The company operates through 77 banking center locations in 17 counties in Indiana and Michigan; and 22 locations of its Specialty Finance Group in the United States. 1st Source Corporation was founded in 1863 and is headquartered in South Bend, Indiana.

1,100 Employees
Last Reported Date: 02/21/14
Founded in 1863

1st source corp (SRCE) Top Compensated Officers

Chairman, Chief Executive Officer, Member of ...
Total Annual Compensation: $695.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $220.0K
President of Specialty Finance Group - 1st So...
Total Annual Compensation: $263.7K
Executive Vice President, General Counsel, Se...
Total Annual Compensation: $311.0K
Chief Credit Officer of 1st Source Bank and E...
Total Annual Compensation: $226.6K
Compensation as of Fiscal Year 2013.

1st source corp (SRCE) Key Developments

1st Source Announces Promotion of Todd Bemenderfer to Vice President

1st Source announced the promotion of Todd Bemenderfer to Vice President. Todd is a Business Development Officer with 1st Source Retirement Plan Services. In this role, he develops action plans and solutions for businesses that result in an improved integration of their retirement plan with their overall business plan and company values. Todd is a past President of the Notre Dame Club of St. Joseph Valley and a founding member and former board member of the Notre Dame Executive MBA Alumni Association.

1st Source Corporation Announces Executive Changes

1st Source Corporation announced that 1st Source Bank President Jim Seitz has been elected President by the Board of Directors. Seitz earned the promotion to President of 1st Source Corporation due to the leadership he has shown as President of the Bank during the past two years. In his new role, all of the Bank's business and commercial banking areas, specialty finance lending units and banking centers will report to him. Similarly, Andrea Short, Chief Financial Officer and Principal Accounting Officer, has been promoted by the Board to Executive Vice President of the Corporation with the company's lending and deposit operations being added to her accounting and finance responsibilities. Lastly, Jeff Buhr, Chief Credit Officer of 1st Source, with responsibility for credit analysis and underwriting, loan workout and recovery and loan administration was promoted to Executive Vice President of the Bank.

1st Source Corporation Announces 2014 Third Quarter Cash Dividend, Payable on November 14, 2014; Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Net Charge-Offs for the Quarter Ended September 30, 2014

1st Source Corporation announced that the Board of Directors approved 2014 third quarter cash dividend of $0.18 per common share. The dividend is payable to shareholders of record on November 5, 2014 and will be paid on November 14, 2014. The company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total interest income of $45,152,000 against $46,966,000 a year ago. Net interest income was $40,710,000 against $41,158,000 a year ago. Income before income taxes was $21,243,000 against $23,305,000 a year ago. Net income was $14,947,000 against $14,896,000 a year ago. Basic and diluted net income per share was $0.62 against $0.60 a year ago. Return on average assets was 1.22% against 1.28% a year ago. Return on average common shareholders' equity was 9.86% against 10.29% a year ago. For the nine months, the company reported total interest income of $133,358,000 against $135,455,000 a year ago. Net interest income was $119,490,000 against $117,783,000 a year ago. Income before income taxes was $64,899,000 against $64,655,000 a year ago. Net income was $43,073,000 against $41,242,000 a year ago. Basic and diluted net income per share was $1.77 against $1.67 a year ago. Book value per common share was $25.27 against $23.77 a year ago. Tangible book value per common share was $21.68 against $20.21 a year ago. Return on average assets was 1.20% against 1.20% a year ago. Return on average common shareholders' equity was 9.62% against 9.65% a year ago. For the quarter, the company reported net charge-offs of $2.58 million (primarily due to one relationship) compared with net charge-offs of $0.76 million in the same quarter a year ago.

 

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Industry Analysis

SRCE

Industry Average

Valuation SRCE Industry Range
Price/Earnings 14.9x
Price/Sales 3.6x
Price/Book 1.4x
Price/Cash Flow 14.5x
TEV/Sales 1.7x
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