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SRCE

1st Source Corporation

SRCE

1st Source Corporation • NASDAQ
$62.44 ▼ -1.00% (-0.63)
Market Cap $1.53 B
52w High $67.77
52w Low $52.14
Dividend Yield 1.52%
P/E 10.39
Volume 54.17K
Outstanding Shares 24.52M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $152.794M ▲ $54.776M ▲ $42.296M ▲ 27.682% ▲ $1.73 ▲ $57.788M ▲
Q2-2025 $150.273M ▲ $52.43M ▼ $37.326M ▼ 24.839% ▼ $1.51 ▼ $50.914M ▲
Q1-2025 $146.407M ▲ $53.076M ▼ $37.52M ▲ 25.627% ▲ $1.52 ▲ $50.529M ▲
Q4-2024 $141.632M ▼ $55.963M ▲ $31.438M ▼ 22.197% ▼ $1.27 ▼ $43.088M ▼
Q3-2024 $145.678M $49.443M $34.937M 23.982% $1.41 $48.436M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.324B ▲ $9.057B ▼ $7.765B ▼ $1.236B ▲
Q2-2025 $1.31B ▼ $9.087B ▲ $7.83B ▲ $1.199B ▲
Q1-2025 $1.349B ▲ $8.963B ▲ $7.743B ▼ $1.161B ▲
Q4-2024 $1.022B ▼ $8.932B ▲ $7.75B ▲ $1.111B ▲
Q3-2024 $1.663B $8.764B $7.589B $1.104B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $42.279M ▲ $51.047M ▲ $100.455M ▲ $-86.352M ▼ $65.15M ▲ $55.38M ▲
Q2-2025 $37.326M ▼ $44.852M ▼ $-179.565M ▼ $61.002M ▲ $-73.711M ▼ $43.031M ▼
Q1-2025 $37.523M ▲ $71.793M ▲ $39.296M ▲ $-13.096M ▼ $97.993M ▲ $69.281M ▲
Q4-2024 $31.437M ▼ $33.545M ▼ $-255.863M ▼ $177.783M ▲ $-44.535M ▲ $27.005M ▼
Q3-2024 $34.914M $68.362M $34.799M $-203.043M $-99.882M $66.69M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Debit Card
Debit Card
 $0 ▲$0 ▲$0 ▲$0 ▲
Deposit Account
Deposit Account
 $0 ▲$0 ▲$0 ▲$0 ▲
Fiduciary and Trust
Fiduciary and Trust
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past five years, 1st Source has shown steady, fairly consistent growth in its core earnings. Revenue has moved upward at a measured pace, and profits have generally kept in step, suggesting disciplined expense control and a stable business model. Earnings per share have trended higher as well, which points to value being built for shareholders over time, not just through one strong year. Even through more volatile interest-rate conditions, the bank appears to have maintained healthy margins, indicating it has handled funding costs and loan pricing reasonably well. Overall, the income statement reads like that of a conservative regional bank that grows gradually rather than chasing aggressive expansion.

Balance Sheet

Balance Sheet The balance sheet looks like a textbook example of steady, conservative banking. Total assets have grown moderately year by year, and shareholder equity has risen as profits are retained, which strengthens the bank’s capital base. Debt levels appear manageable relative to the size of the institution, suggesting the bank is not overly reliant on wholesale borrowing. Cash on hand is modest, which is typical for a bank that mainly holds earning assets such as loans and securities. Taken together, the balance sheet signals a traditional regional bank profile: gradual asset growth, strengthening capital, and no obvious signs of excessive leverage.

Cash Flow

Cash Flow Cash generation appears solid and stable, with operating cash flow and free cash flow consistently positive and inching upward over time. The gap between operating cash flow and free cash flow is small, which means the bank is not heavily burdened by capital spending needs. That fits with a regional bank whose main “assets” are loans and relationships rather than physical plants or heavy infrastructure. This pattern suggests that 1st Source has had adequate internal cash to support its ongoing operations, invest modestly in the business, and still have room to return capital or build its balance sheet, all without relying excessively on outside financing.

Competitive Edge

Competitive Edge 1st Source occupies an interesting middle ground: it is a community-focused bank with a national reach in specific lending niches. Its specialty in aircraft, construction equipment, and commercial trucking finance gives it a clear identity and a defensible position against more generic lenders. These sectors are not simple to underwrite; experience and industry insight matter, and 1st Source has built that expertise over decades. Its strong record with small-business lending awards also underscores its reputation in relationship banking. On the flip side, this specialization ties the bank to cyclical industries, which can face pressure in economic downturns. Competition from larger banks and non-bank lenders remains a constant consideration, but the bank’s depth of knowledge and longstanding client ties form a meaningful competitive cushion.

Innovation and R&D

Innovation and R&D Innovation at 1st Source is more about service design and process than cutting-edge technology. The “side-by-side” banking model is a good example: it rethinks the in-branch experience to be more collaborative and advisory rather than transactional. Technologically, the bank offers the standard menu of digital services—online and mobile banking, remote deposits, electronic payments—and relies on outside partners to keep its infrastructure secure and up to date. This is a pragmatic, follower strategy rather than a disruptive one. The main risk is that, if digital expectations rise faster than the bank upgrades its platforms, it could feel dated to tech-savvy customers. The opportunity lies in combining its high-touch, relationship-driven approach with progressively better digital tools so that clients get both personal service and modern convenience.

Summary

1st Source Corporation presents as a steady, conservatively run regional bank with a clear specialty in niche commercial finance and community-based relationship banking. Financially, it has delivered gradual growth in revenue and earnings, supported by a strengthening balance sheet and consistent cash generation. Strategically, its deep expertise in areas like aircraft, equipment, and trucking finance, along with its recognized small-business focus, provides a meaningful competitive edge. At the same time, its reliance on certain cyclical sectors, the evolving interest-rate environment, regulatory demands, and rising expectations for digital banking all introduce ongoing uncertainties. Overall, the story is one of measured, disciplined growth built on specialization and relationships, rather than rapid expansion or aggressive innovation.

NEWS

November 20, 2025 · 3:17 PM UTC

1st Source Bank Announces Promotion of Two Senior Leaders

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October 23, 2025 · 4:01 PM UTC

1st Source Corporation Reports Record Third Quarter Results, Increased Cash Dividend Declared

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