See more : The Toronto-Dominion Bank (TD-PFK.TO) Income Statement Analysis – Financial Results
Complete financial analysis of 1st Source Corporation (SRCE) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of 1st Source Corporation, a leading company in the Banks – Regional industry within the Financial Services sector.
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1st Source Corporation (SRCE)
About 1st Source Corporation
1st Source Corporation operates as the bank holding company for 1st Source Bank that provides commercial and consumer banking services, trust and wealth advisory services, and insurance products to individual and business clients. Its consumer banking services include checking and savings accounts; certificates of deposit; individual retirement accounts; online and mobile banking products; consumer loans, real estate mortgage loans, and home equity lines of credit; and financial planning, financial literacy, and other consultative services, as well as debit and credit cards. 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 renewable energy and acquisition financing; and commercial leasing, treasury management, and retirement planning services. In addition, it provides trust, investment, agency, and custodial services comprising administration of estates and personal trusts, as well as management of investment accounts for individuals, employee benefit plans, and charitable foundations. Further, the company offers equipment loan and lease products for construction equipment, new and pre-owned aircraft, auto and light trucks, and medium and heavy duty trucks; and finances construction equipment, aircrafts, medium and heavy duty trucks, step vans, vocational work trucks, motor coaches, shuttle buses, funeral cars, automobiles, and other equipment. Additionally, it provides corporate and personal property, casualty, and individual and group health and life insurance products and services. As of December 31, 2021, the company operated through 79 banking centers in 18 counties in Indiana and Michigan, as well as Sarasota County in Florida. 1st Source Corporation was founded in 1863 and is headquartered in South Bend, Indiana.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 363.40M | 354.73M | 336.73M | 329.71M | 325.00M | 310.96M | 284.34M | 258.60M | 249.84M | 238.22M | 234.03M | 232.97M | 229.27M | 234.19M | 213.74M | 216.16M | 189.53M | 183.02M | 166.96M | 161.42M | 183.45M | 191.80M | 211.62M | 178.88M | 163.00M | 145.40M | 121.70M | 100.90M | 89.70M | 80.10M | 73.80M | 68.30M | 61.80M | 56.80M | 53.60M | 0.00 | 0.00 | 0.00 | 0.00 |
| Cost of Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 363.40M | 354.73M | 336.73M | 329.71M | 325.00M | 310.96M | 284.34M | 258.60M | 249.84M | 238.22M | 234.03M | 232.97M | 229.27M | 234.19M | 213.74M | 216.16M | 189.53M | 183.02M | 166.96M | 161.42M | 183.45M | 191.80M | 211.62M | 178.88M | 163.00M | 145.40M | 121.70M | 100.90M | 89.70M | 80.10M | 73.80M | 68.30M | 61.80M | 56.80M | 53.60M | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit Ratio | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 121.54M | 136.93M | 122.44M | 113.88M | 111.65M | 109.21M | 102.28M | 100.16M | 100.39M | 95.51M | 93.87M | 96.13M | 93.86M | 93.80M | 86.76M | 83.75M | 73.94M | 66.61M | 69.77M | 63.08M | 69.46M | 67.40M | 62.61M | 54.57M | 52.50M | 47.30M | 41.80M | 36.10M | 32.60M | 28.30M | 27.50M | 24.90M | 22.80M | 21.00M | 19.60M | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 7.16M | 5.82M | 8.01M | 4.16M | 6.30M | 6.11M | 7.48M | 4.94M | 4.84M | 6.05M | 4.94M | 4.23M | 4.03M | 3.77M | 3.49M | 3.75M | 4.79M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3.60M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 121.54M | 136.93M | 122.44M | 113.88M | 111.65M | 109.21M | 102.28M | 100.16M | 100.39M | 95.51M | 93.87M | 96.13M | 97.89M | 97.57M | 90.25M | 3.75M | 78.73M | 66.61M | 69.77M | 63.08M | 69.46M | 67.40M | 62.61M | 54.57M | 52.50M | 50.90M | 41.80M | 36.10M | 32.60M | 28.30M | 27.50M | 24.90M | 22.80M | 21.00M | 19.60M | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Expenses | 247.73M | -304.55M | -304.31M | -337.27M | -316.55M | -271.73M | -251.75M | -240.82M | -237.30M | -225.03M | -214.89M | -215.95M | -207.61M | -210.75M | -192.34M | -62.21M | -91.90M | -87.52M | -117.25M | -137.65M | -166.65M | -166.98M | -91.28M | -45.43M | -60.50M | -45.60M | -35.30M | -28.00M | -25.40M | -34.30M | -32.90M | -22.80M | -6.30M | 6.70M | 8.90M | 9.50M | 8.10M | 7.10M | 2.30M |
| Operating Expenses | 369.27M | -167.62M | -181.87M | -223.39M | -204.90M | -162.52M | -149.47M | -140.65M | -136.91M | -129.52M | -121.02M | -119.82M | -109.72M | -113.17M | -102.09M | -58.46M | -13.17M | -20.91M | -47.48M | -74.57M | -97.20M | -99.58M | -28.67M | 9.15M | -8.00M | 5.30M | 6.50M | 8.10M | 7.20M | -6.00M | -5.40M | 2.10M | 16.50M | 27.70M | 28.50M | 9.50M | 8.10M | 7.10M | 2.30M |
| Cost & Expenses | 369.27M | -167.62M | -181.87M | -223.39M | -204.90M | -162.52M | -149.47M | -140.65M | -136.91M | -129.52M | -121.02M | -119.82M | -109.72M | -113.17M | -102.09M | -58.46M | -13.17M | -20.91M | -47.48M | -74.57M | -97.20M | -99.58M | -28.67M | 9.15M | -8.00M | 5.30M | 6.50M | 8.10M | 7.20M | -6.00M | -5.40M | 2.10M | 16.50M | 27.70M | 28.50M | 9.50M | 8.10M | 7.10M | 2.30M |
| Interest Income | 416.91M | 293.82M | 254.77M | 263.03M | 282.88M | 257.32M | 212.39M | 191.76M | 184.68M | 178.55M | 179.59M | 182.09M | 187.52M | 200.63M | 200.41M | 235.31M | 253.59M | 208.99M | 168.53M | 151.44M | 162.32M | 199.50M | 242.18M | 235.39M | 200.40M | 196.10M | 173.30M | 148.80M | 135.10M | 112.90M | 104.10M | 106.60M | 111.10M | 115.50M | 111.80M | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 138.26M | 30.35M | 18.13M | 37.21M | 59.01M | 43.41M | 26.75M | 22.10M | 18.16M | 18.23M | 22.77M | 30.31M | 39.12M | 53.13M | 72.20M | 103.15M | 134.68M | 102.56M | 70.10M | 52.75M | 59.07M | 80.82M | 123.40M | 130.43M | 100.70M | 102.20M | 87.30M | 73.40M | 64.90M | 47.70M | 44.60M | 50.20M | 60.50M | 69.30M | 68.50M | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 15.46M | 17.80M | 21.88M | 28.72M | 33.96M | 31.87M | 30.87M | 26.92M | 18.28M | 13.89M | 13.06M | 15.20M | 18.65M | 20.72M | 20.52M | 19.45M | 24.50M | 24.08M | 29.15M | 34.07M | 38.90M | 39.24M | 31.97M | 27.40M | 24.30M | 13.60M | 9.20M | 5.10M | 3.60M | 3.30M | 2.90M | 2.50M | 1.40M | 1.40M | 1.10M | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | 0.00 | 172.91M | 167.36M | 120.39M | 150.91M | 134.63M | 128.84M | 112.97M | 112.31M | 104.05M | 102.89M | 96.44M | 96.17M | 85.32M | 60.95M | 0.00 | 0.00 | 0.00 | 64.94M | 68.17M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 9.50M | 8.10M | 7.10M | 2.30M |
| EBITDA Ratio | 0.00% | 55.57% | 50.06% | 38.37% | 44.69% | 58.29% | 56.30% | 53.99% | 52.52% | 51.46% | 53.87% | 55.09% | 60.28% | 60.52% | 61.84% | 81.95% | 105.98% | 101.73% | 89.02% | 74.91% | 68.22% | 68.54% | 101.56% | 120.43% | 110.00% | 113.00% | 112.90% | 113.08% | 112.04% | 96.63% | 96.61% | 106.73% | 128.96% | 151.23% | 155.22% | 0.00% | 0.00% | 0.00% | 0.00% |
| Operating Income | 0.00 | 187.11M | 154.86M | 106.32M | 120.10M | 148.44M | 134.86M | 117.95M | 112.93M | 108.69M | 113.01M | 113.15M | 119.55M | 121.01M | 111.65M | 157.70M | 176.36M | 162.10M | 119.48M | 86.85M | 86.25M | 92.22M | 182.95M | 188.03M | 155.00M | 150.70M | 128.20M | 109.00M | 96.90M | 74.10M | 68.40M | 70.40M | 78.30M | 84.50M | 82.10M | 9.50M | 8.10M | 7.10M | 2.30M |
| Operating Income Ratio | 0.00% | 52.75% | 45.99% | 32.25% | 36.95% | 47.74% | 47.43% | 45.61% | 45.20% | 45.63% | 48.29% | 48.57% | 52.14% | 51.67% | 52.24% | 72.95% | 93.05% | 88.57% | 71.56% | 53.80% | 47.02% | 48.08% | 86.45% | 105.11% | 95.09% | 103.65% | 105.34% | 108.03% | 108.03% | 92.51% | 92.68% | 103.07% | 126.70% | 148.77% | 153.17% | 0.00% | 0.00% | 0.00% | 0.00% |
| Total Other Income/Expenses | 161.68M | -3.69M | -1.87M | -3.42M | -4.24M | -6.40M | -5.67M | -4.75M | -4.23M | -4.76M | -7.49M | -9.14M | 0.00 | 0.00 | 0.00 | 672.00K | -4.11M | 0.00 | -29.15M | -11.77M | -59.07M | -80.82M | -123.40M | -130.43M | -100.70M | -102.20M | -87.30M | -73.40M | -64.90M | -47.70M | -44.60M | -49.50M | -60.50M | -69.30M | -68.50M | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax | 161.68M | 156.79M | 154.89M | 106.34M | 120.15M | 105.03M | 101.36M | 89.13M | 88.56M | 84.44M | 83.94M | 75.68M | 73.79M | 60.48M | 31.52M | 46.40M | 41.68M | 59.54M | 49.38M | 34.10M | 27.18M | 11.41M | 59.56M | 57.60M | 54.30M | 48.50M | 40.90M | 35.60M | 32.00M | 26.40M | 23.80M | 20.90M | 17.80M | 15.20M | 13.60M | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax Ratio | 44.49% | 44.20% | 46.00% | 32.25% | 36.97% | 33.78% | 35.65% | 34.46% | 35.45% | 35.45% | 35.87% | 32.49% | 32.18% | 25.82% | 14.75% | 21.47% | 21.99% | 32.53% | 29.57% | 21.13% | 14.82% | 5.95% | 28.14% | 32.20% | 33.31% | 33.36% | 33.61% | 35.28% | 35.67% | 32.96% | 32.25% | 30.60% | 28.80% | 26.76% | 25.37% | 0.00% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | 36.75M | 36.26M | 36.33M | 24.88M | 28.14M | 22.61M | 33.31M | 31.34M | 31.08M | 26.37M | 28.99M | 26.05M | 25.59M | 19.23M | 6.03M | 13.02M | 11.14M | 20.25M | 15.63M | 9.14M | 8.03M | 1.37M | 21.06M | 20.03M | 18.50M | 17.50M | 14.40M | 12.40M | 11.00M | 7.90M | 7.10M | 6.30M | 5.20M | 3.30M | 3.00M | -9.50M | -8.10M | -7.10M | -2.30M |
| Net Income | 124.93M | 120.51M | 118.53M | 81.44M | 91.96M | 82.41M | 68.05M | 57.79M | 57.49M | 58.07M | 54.96M | 49.63M | 48.20M | 41.24M | 25.49M | 33.39M | 30.54M | 39.30M | 33.75M | 24.97M | 19.15M | 10.04M | 38.50M | 37.57M | 35.80M | 31.00M | 26.50M | 23.20M | 21.00M | 18.50M | 16.70M | 13.90M | 12.60M | 11.90M | 10.60M | 9.50M | 8.10M | 7.10M | 2.30M |
| Net Income Ratio | 34.38% | 33.97% | 35.20% | 24.70% | 28.30% | 26.50% | 23.93% | 22.35% | 23.01% | 24.38% | 23.48% | 21.30% | 21.02% | 17.61% | 11.93% | 15.44% | 16.11% | 21.47% | 20.21% | 15.47% | 10.44% | 5.23% | 18.19% | 21.00% | 21.96% | 21.32% | 21.77% | 22.99% | 23.41% | 23.10% | 22.63% | 20.35% | 20.39% | 20.95% | 19.78% | 0.00% | 0.00% | 0.00% | 0.00% |
| EPS | 5.03 | 4.88 | 4.70 | 3.17 | 3.57 | 3.18 | 2.62 | 2.22 | 2.20 | 2.21 | 2.05 | 1.86 | 1.81 | 1.55 | 0.96 | 1.26 | 1.18 | 1.58 | 1.22 | 1.00 | 0.76 | 0.40 | 1.53 | 1.42 | 1.51 | 1.11 | 0.69 | 0.49 | 0.77 | 0.72 | 0.68 | 0.54 | 0.51 | 0.49 | 0.45 | 0.37 | 0.31 | 0.29 | 0.11 |
| EPS Diluted | 5.03 | 4.88 | 4.70 | 3.17 | 3.57 | 3.18 | 2.62 | 2.22 | 2.20 | 2.21 | 2.05 | 1.86 | 1.81 | 1.55 | 0.96 | 1.24 | 1.16 | 1.56 | 1.21 | 0.98 | 0.75 | 0.39 | 1.50 | 1.41 | 1.49 | 1.09 | 0.69 | 0.49 | 0.42 | 0.72 | 0.68 | 0.54 | 0.51 | 0.49 | 0.45 | 0.37 | 0.31 | 0.29 | 0.11 |
| Weighted Avg Shares Out | 24.62M | 24.69M | 25.04M | 25.53M | 25.60M | 25.94M | 25.93M | 25.88M | 26.17M | 26.25M | 26.78M | 26.69M | 26.66M | 26.66M | 26.58M | 26.51M | 25.84M | 24.84M | 27.59M | 24.97M | 25.19M | 25.31M | 25.18M | 26.37M | 23.65M | 27.85M | 38.28M | 47.38M | 27.13M | 25.61M | 24.52M | 25.55M | 24.83M | 24.49M | 23.51M | 25.83M | 25.99M | 24.27M | 21.88M |
| Weighted Avg Shares Out (Dil) | 24.62M | 24.69M | 25.04M | 25.53M | 25.60M | 25.94M | 25.93M | 26.06M | 26.17M | 26.25M | 26.78M | 26.71M | 26.67M | 26.66M | 26.64M | 26.83M | 26.24M | 25.13M | 27.97M | 25.38M | 25.47M | 25.85M | 25.59M | 26.67M | 24.03M | 28.53M | 38.28M | 47.38M | 49.92M | 25.61M | 24.52M | 25.55M | 24.83M | 24.49M | 23.51M | 25.83M | 25.99M | 24.27M | 21.88M |
1st Source (SRCE) Q3 Earnings and Revenues Beat Estimates
1st Source (SRCE) came out with quarterly earnings of $1.32 per share, beating the Zacks Consensus Estimate of $1.13 per share. This compares to earnings of $1.32 per share a year ago.
1st Source Corporation Reports Record Third Quarter Results, Cash Dividend Increased
QUARTERLY HIGHLIGHTS Net income was a record $32.94 million for the quarter, up $0.20 million or 0.62% from the third quarter of 2022. Diluted net income per common share was $1.32, equal to the prior year's third quarter.
New Strong Buy Stocks for September 25th
MCS, ELF, DAN, MKL and SRCE have been added to the Zacks Rank #1 (Strong Buy) List on September 25, 2023.
1st Source Corporation Reports Strong Second Quarter Results, Cash Dividend Declared
QUARTERLY HIGHLIGHTS Net income was $32.44 million for the quarter, up $3.12 million or 10.65% from the second quarter of 2022. Diluted net income per common share was $1.30, up $0.12 or 10.17% from the prior year's second quarter of...
Earnings Preview: 1st Source (SRCE) Q2 Earnings Expected to Decline
1st Source (SRCE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
1st Source Bank says it is another victim of Progress Software's MOVEit hack
1st Source Corp.'s S, +2.10% 1st Source Bank said Monday it is one of the several companies impacted by a cyberattack involving Progress Software Corp. PRGS, +0.90% file-transfer software. The company used the software, called MOVEit, for secure file transfers...
1st Source (SRCE) Upgraded to Buy: Here's Why
1st Source (SRCE) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
1st Source (SRCE) Q4 Earnings and Revenues Miss Estimates
1st Source (SRCE) delivered earnings and revenue surprises of -3.85% and 1.93%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
1st Source (SRCE) Tops Q3 Earnings Estimates
1st Source (SRCE) delivered earnings and revenue surprises of 10% and 1.04%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?
8 Upcoming Dividend Increases
All stocks have at least five fiscal years of dividend growth history and come from the U.S. Dividend Champions List. They have an average increase of 7.1% and a median increase of 4.8%. I've tracked 336 increases in 2022, 211...
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