1st Source Corporation (SRCE) Income Statement Analysis

See more : Paragon Care Limited (PGC.AX) 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)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.1stsource.com

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) Q2 Earnings Beat Estimates

July 21, 2022zacks.com

1st Source (SRCE) delivered earnings and revenue surprises of 11.32% and 0.47%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

1st Source (SRCE) Q1 Earnings and Revenues Top Estimates

April 21, 2022zacks.com

1st Source (SRCE) delivered earnings and revenue surprises of 10% and 0.56%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

1st Source (SRCE) Upgraded to Buy: What Does It Mean for the Stock?

March 31, 2022zacks.com

1st Source (SRCE) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

1st Source: Balanced Bank With Attractive Fee Income Mix

February 6, 2022seekingalpha.com

The Specialty Finance segment helps with consistent, less rate-sensitive NIM. Wealth management and insurance offices drive fee income.

1st Source (SRCE) May Find a Bottom Soon, Here's Why You Should Buy the Stock Now

January 31, 2022zacks.com

1st Source (SRCE) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near...

1st Source (SRCE) Lags Q4 Earnings and Revenue Estimates

January 20, 2022zacks.com

1st Source (SRCE) delivered earnings and revenue surprises of -6.72% and 2.79%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

1st Source (SRCE) Earnings Expected to Grow: Should You Buy?

January 13, 2022zacks.com

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.

Dividend Champions On Sale - The December 2021 Heat Map

December 10, 2021seekingalpha.com

Dividend Champions can form the cornerstone of any income-oriented portfolio, but most of us don't have enough time to analyze all 139 stocks thoroughly. To represent the trade-off between quality and price, we group the candidates into three categories, namely...

1st Source (SRCE) Q3 Earnings and Revenues Beat Estimates

October 21, 2021zacks.com

1st Source (SRCE) delivered earnings and revenue surprises of 18.35% and 3.57%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?