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Record Quarterly Earnings at 1st Source Corporation, Company Grows to Over $6 Billion, Increase in Cash Dividend

rot31st Source Corporation (NASDAQ: SRCE), parent company of 1st Source Bank, today reported a record high net income of $19.12 million for the first quarter of 2018, an improvement of 17.96% compared to $16.21 million reported in the first quarter a year ago. Income before taxes was $25.00 million compared to $24.92 million in the first quarter of 2017. The pretax income comparison was positively impacted by increased net interest income of $6.81 million primarily due to rising lending rates, higher average loan and lease balances and the recognition of a $0.62 million unaccreted purchase discount from an early loan payoff. These positives were offset by a $2.79 million increase in the provision for loan and lease losses to support loan and lease growth and a $4.44 million rise in noninterest expense. Non-recurring first quarter 2018 costs were approximately...

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Decrypting the Cryptocurrency: Making Sense of Bitcoin


Bitcoin. That simple word has caused quite a stir recently, leading to many to ask the question: What is it?

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1st Source Bank Is Now Hiring in La Porte and Porter Counties

1st-Source-Bank-Is-Now-Hiring-in-LaPorte-and-Porter-CountiesAt 1st Source Bank, we hire the best talent. If you are ambitious and want to work for a bank that has integrity and exceptional client service, join our team!

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1st Source Corporation Responds to Tax Act and Record Performance

1st-Source-Bank-Logo-20181st Source Corporation (NASDAQ: SRCE), parent company of 1st Source Bank, announces important investments in its people as a result of record performance in 2017 and new tax legislation opportunities. These new investments include the following:

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McColly Companies Host Performance Plus Meeting


Retirement isn’t something that the young think about. Neither is investment. However, as we age, we devote more thought into these things as our age begins to catch up to us. Our own mortality reminds us that we need to plan for a time when we can’t rely on our bodies to make us money, and relying solely on social security is no longer an option if we want to live comfortably.

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1st Source Corporation Reports Record Earnings

1st-Source-Corporation-Reports-Record-Earnings-20181st Source Corporation (NASDAQ: SRCE), parent company of 1st Source Bank, today reported a record high net income of $68.05 million for the year of 2017, an increase of 17.76% compared to $57.79 million earned in 2016. Fourth quarter net income was $17.99 million, an increase of 18.19% compared to $15.23 million earned in the fourth quarter of 2016. The annual net income comparison was impacted by both positive and negative pre-tax items. It was positively impacted by gains on the sale of investment securities of $4.34 million and gains on the sale of fixed assets and leased equipment of $1.08 million. These positives were partially offset by contributions to the 1st Source Foundation of $2.54 million and software and consulting costs of $1.31 million for the design and implementation planning of...

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Horizon Bancorp Announces Record Net Income for 2017


Horizon Bancorp (“Horizon”) today announced its unaudited financial results for the three-month and twelve-month periods ended December 31, 2017. All share data has been adjusted to reflect Horizon’s three-for-two stock split effective November 14, 2016.

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Purdue Federal Credit Union Offers Expansive ATM Access Wherever Members Go


If you’ve ever been travelling for work or leisure and needed to get out some cash, which is a must some days even in 2017, then banking with a financial institution with a large network of ATM’s can really pay off. With Purdue Federal Credit Union, that’s exactly what they try to provide for their members, wherever they might be.

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Partners of Life: Best of Banking, Finance, & Law


Throughout Northwest Indiana there are some truly great banking, finance, and wealth management experts who offer their clients the service and satisfaction that set them above many other companies in the region.

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Horizon Bank’s Wolves & Slicer Branches Promoting Financial Literacy and Rewarding Students Who Open New Checking Account


For Horizon Bank, educating high school students across Northwest Indiana about finances and banking is an important part of their mission to anticipate and fulfill customer needs with exceptional service and sensible advice.

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Being a Member Pays! - Purdue Federal Credit Union ‘My Member Perks’ Program Returns Over $13m to Members Since 2013


Initially launched in 2013, Purdue Federal Credit Union’s My Member Perks program was created by Purdue Federal’s own leadership team who established the program exclusively for members. Now, four years after the program got under way, over $13 million has been given back to members with $6.7 million being delivered in 2016.

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