Tearsheet

1st Source (SRCE)

Market Price (12/18/2025): $66.165 | Market Cap: $1.6 Bil
Sector: Financials | Industry: Regional Banks

1st Source (SRCE)

Market Price (12/18/2025): $66.165
Market Cap: $1.6 Bil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 2.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.2%, FCF Yield is 12%	Trading close to highs Dist 52W High is -0.2%, Dist 3Y High is -0.2%	Key risks SRCE key risks include [1] elevated credit risk due to its significant concentration in commercial and commercial real estate loans.
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -81%	Weak multi-year price returns 2Y Excs Rtn is -13%, 3Y Excs Rtn is -37%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 48%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 44%
3	Low stock price volatility Vol 12M is 26%
4	Capital ratio is >2x the minimum of 6% Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 15%
5	Megatrend and thematic drivers Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Wealth Management Technology.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 2.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.2%, FCF Yield is 12%
1	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -81%
2	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 48%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 44%
3	Low stock price volatility Vol 12M is 26%
4	Capital ratio is >2x the minimum of 6% Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 15%
5	Megatrend and thematic drivers Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Wealth Management Technology.
6	Trading close to highs Dist 52W High is -0.2%, Dist 3Y High is -0.2%
7	Weak multi-year price returns 2Y Excs Rtn is -13%, 3Y Excs Rtn is -37%
8	Key risks SRCE key risks include [1] elevated credit risk due to its significant concentration in commercial and commercial real estate loans.

Valuation, Metrics & Events

	12/18/25	2024	2023	2022	2021
Share Price CYE	$66.17	$56.93	$52.25	$49.08	$44.70
Market Cap CYE ($ Bil)	1.6	1.4	1.3	1.2	1.1
Total Debt ($ Bil)	0.1	0.3	0.3	0.2	0.1
Total Cash ($ Bil)	0.1	0.1	0.1	0.1	0.1
Enterprise Value ($ Bil)	1.6	1.7	1.6	1.4	1.2
Valuation Ratios
P/S TTM	3.58	3.69	3.66	3.69	3.69
P/EBIT TTM	-	-	-	-	-
P/FCF TTM	8.07	7.88	7.43	7.57	7.58
P/E TTM	10.13	10.78	10.83	10.88	10.48
Sector Ratios
P/S TTM (Sector)	3.10	3.11	2.83	2.78	3.36
P/EBIT TTM (Sector)	8.60	8.76	8.05	8.08	7.63
P/FCF TTM (Sector)	8.26	8.78	7.81	6.54	7.45
P/E TTM (Sector)	11.68	11.57	10.13	9.44	10.14

	12/18/25	2024	2023
Share Price CYE	$66.17	$56.93	$52.25
Market Cap CYE ($ Bil)	1.6	1.4	1.3
Total Debt ($ Bil)	0.1	0.3	0.3
Total Cash ($ Bil)	0.1	0.1	0.1
Enterprise Value ($ Bil)	1.6	1.7	1.6
Valuation Ratios
P/S TTM	3.58	3.69	3.66
P/EBIT TTM	-	-	-
P/FCF TTM	8.07	7.88	7.43
P/E TTM	10.13	10.78	10.83
Sector Ratios
P/S TTM (Sector)	3.10	3.11	2.83
P/EBIT TTM (Sector)	8.60	8.76	8.05
P/FCF TTM (Sector)	8.26	8.78	7.81
P/E TTM (Sector)	11.68	11.57	10.13

	SRCE	S&P 500
REVENUE GROWTH	GOOD
Rev LTM ($ Bil)	0.4
Rev Chg Q	13.0%	7.3%
Rev Chg LTM	10.5%	6.0%
Rev Chg 3Y Avg	7.0%	5.5%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	�
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.1
CFO/Rev LTM	47.8%	20.4%
Net Inc Mgn	35.3%	13.1%
VALUATION	LOW
P/S	3.6	3.2
P/CFO	7.5	16.0
P/FCF	8.1	20.8
P/E	10.1	23.5

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Metric	Value	Date	Source
Number of banking centers	78	8152025	Link
Assets under management	approximately $5.9 billion	8152025	Link
Number of 1st Source Bank Specialty Finance Group locations	18	3062025	Link
Number of Trust and Wealth Advisory Services locations	9	3062025	Link
Number of 1st Source Insurance offices	10	3062025	Link
Number of loan production offices	3	3062025	Link
Annual metric tons of carbon emissions avoided	374749	10312025	Link
Number of Employees	1216	6302025	Link

Upcoming
1/22/2026	Earnings Release	Rev: $110 Mil (E) EPS: $1.62 (E)

SRCE Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are five key points explaining the stock movement for 1st Source (SRCE) for the approximate time period from August 31, 2025, to December 18, 2025: 1. Strong Third Quarter 2025 Earnings Performance: The company reported strong third-quarter results, exceeding analysts' expectations for both net interest income and earnings per share (EPS). Specifically, 1st Source announced quarterly earnings results on October 24, 2025, beating EPS expectations by $0.12.

2. Increase in Quarterly Dividend: On October 28, 2025, 1st Source announced an increase in its dividend to $0.40 per share. A higher dividend often signals financial strength and can attract investors, contributing to positive stock movement.

Stock Movement Drivers

Fundamental Drivers

The 5.2% change in SRCE stock from 9/17/2025 to 12/17/2025 was primarily driven by a 3.1% change in the company's Total Revenues ($ Mil).

	9172025	12172025	Change
Stock Price ($)	62.95	66.20	5.17%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	408.07	420.79	3.12%
Net Income Margin (%)	34.61%	35.31%	2.03%
P/E Multiple	10.94	10.90	-0.32%
Shares Outstanding (Mil)	24.54	24.47	0.28%
Cumulative Contribution			5.17%

LTM = Last Twelve Months as of date shown

Market Drivers

9/17/2025 to 12/17/2025

	Return	Correlation
SRCE	5.2%
Market (SPY)	1.9%	31.3%
Sector (XLF)	1.0%	55.7%

Fundamental Drivers

The 13.5% change in SRCE stock from 6/18/2025 to 12/17/2025 was primarily driven by a 7.1% change in the company's P/E Multiple.

	6182025	12172025	Change
Stock Price ($)	58.35	66.20	13.45%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	397.09	420.79	5.97%
Net Income Margin (%)	35.43%	35.31%	-0.34%
P/E Multiple	10.18	10.90	7.10%
Shares Outstanding (Mil)	24.55	24.47	0.30%
Cumulative Contribution			13.45%

LTM = Last Twelve Months as of date shown

Market Drivers

6/18/2025 to 12/17/2025

	Return	Correlation
SRCE	13.5%
Market (SPY)	12.7%	42.5%
Sector (XLF)	9.2%	60.9%

Fundamental Drivers

The 8.8% change in SRCE stock from 12/17/2024 to 12/17/2025 was primarily driven by a 10.5% change in the company's Total Revenues ($ Mil).

	12172024	12172025	Change
Stock Price ($)	60.84	66.20	8.80%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	380.68	420.79	10.54%
Net Income Margin (%)	34.05%	35.31%	3.70%
P/E Multiple	11.51	10.90	-5.25%
Shares Outstanding (Mil)	24.51	24.47	0.17%
Cumulative Contribution			8.80%

LTM = Last Twelve Months as of date shown

Market Drivers

12/17/2024 to 12/17/2025

	Return	Correlation
SRCE	8.8%
Market (SPY)	12.1%	53.1%
Sector (XLF)	12.5%	65.6%

Fundamental Drivers

The 35.2% change in SRCE stock from 12/18/2022 to 12/17/2025 was primarily driven by a 22.4% change in the company's Total Revenues ($ Mil).

	12182022	12172025	Change
Stock Price ($)	48.97	66.20	35.19%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	343.89	420.79	22.36%
Net Income Margin (%)	34.07%	35.31%	3.63%
P/E Multiple	10.31	10.90	5.81%
Shares Outstanding (Mil)	24.66	24.47	0.75%
Cumulative Contribution			35.18%

LTM = Last Twelve Months as of date shown

Market Drivers

12/18/2023 to 12/17/2025

	Return	Correlation
SRCE	28.4%
Market (SPY)	44.9%	45.9%
Sector (XLF)	49.9%	65.5%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
SRCE Return	-20%	26%	10%	6%	9%	16%	50%
Peers Return	�	�	�	�	�	�	�
S&P 500 Return	16%	27%	-19%	24%	23%	14%	108%
Monthly Win Rates [3]
SRCE Win Rate	58%	67%	33%	50%	42%	67%
Peers Win Rate	�	�	�	�	�	�
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
SRCE Max Drawdown	-47%	-2%	-12%	-23%	-13%	-8%
Peers Max Drawdown	�	�	�	�	�	�
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: NEWT, ATLO, CBC, HYNE, NU.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/17/2025 (YTD)

How Low Can It Go

Unique Key	Event	SRCE	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-31.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	46.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	439 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-47.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	90.4%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	654 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-34.5%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	52.7%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	1,402 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-56.1%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	127.6%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,745 days	1,480 days

Compare to NEWT, ATLO, CBC, HYNE, NU

In The Past

1st Source's stock fell -31.9% during the 2022 Inflation Shock from a high on 11/10/2022. A -31.9% loss requires a 46.9% gain to breakeven.

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About 1st Source (SRCE)

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.

AI Generated Analysis | Feedback

Here are 1-2 brief analogies to describe 1st Source (SRCE):

SRCE is like a regional PNC Bank focused on Northern Indiana and Southwestern Michigan, but with an added national specialty in financing trucks, equipment, and aircraft.
SRCE is like a traditional community bank combined with a commercial Ally Financial, specializing in loans for trucks, equipment, and aircraft.

AI Generated Analysis | Feedback

Commercial Banking: Provides business loans, treasury management, and deposit services for companies.
Consumer Banking: Offers personal banking products such as checking, savings, mortgages, and consumer loans to individuals.
Wealth Management: Delivers investment management, trust, and financial planning services.
Specialty Financing: Engages in lease financing and secured lending for specific assets, primarily aircraft, vehicles, and other equipment.

AI Generated Analysis | Feedback

1st Source Corporation (SRCE) is a bank holding company, and its principal subsidiary is 1st Source Bank. As a financial institution, it provides a range of banking services.

Based on an analysis of its financial reports, particularly its loan portfolio composition, 1st Source Corporation primarily serves other companies (businesses). Its commercial loan segments (Commercial and Industrial, Commercial Real Estate, and Specialty Finance/Equipment Finance) constitute a significantly larger portion of its overall loan portfolio compared to its consumer and residential mortgage loans.

However, due to the nature of banking and financial services, 1st Source Bank serves a broad and highly diversified customer base. Banks do not typically disclose the names of their specific major customers, particularly public companies, for reasons of client confidentiality, competitive strategy, and the fact that their revenue is not concentrated among a few large clients but rather distributed across numerous small to medium-sized businesses. Therefore, it is not possible to list specific customer company names or their symbols.

Instead, 1st Source Bank caters to a wide array of businesses, including:

Small to medium-sized businesses requiring commercial and industrial loans, lines of credit, and treasury management services.
Companies and investors involved in commercial real estate development and ownership.
Businesses in specific industries such as transportation, construction, and manufacturing, which utilize the bank's specialty equipment financing and leasing services.

These businesses are primarily located within the bank's core market footprint, which includes northern Indiana, southern Michigan, and select regions of Ohio.

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Andrea G. Short, President and Chief Executive Officer, 1st Source Corporation

Andrea G. Short has over 40 years of banking and business experience, including 26 years at 1st Source Corporation and 1st Source Bank. She assumed the role of President and Chief Executive Officer of 1st Source Corporation in 2025, and Chief Executive Officer of 1st Source Bank in 2022. Prior to these appointments, she served as Executive Vice President, Treasurer, and Chief Financial Officer of both 1st Source Corporation and 1st Source Bank since 2013. Short began her career at 1st Source Bank in 1998 as Tax Director, later becoming Vice President and Controller responsible for all finance and accounting functions. Before joining 1st Source, she worked at Crowe LLP (formerly Crowe Horwath) as an Audit Manager and at First of America Bank (now PNC) as a Tax Manager.

Brett A. Bauer, Executive Vice President, Treasurer, and Chief Financial Officer, 1st Source Corporation and 1st Source Bank

Brett A. Bauer serves as the Executive Vice President, Treasurer, and Chief Financial Officer for both 1st Source Corporation and 1st Source Bank. He is responsible for overseeing the finance and accounting functions, business financial analysis, asset and liability management, wholesale and corporate funding, capital management, investor relations, loan review, and risk management. Bauer initially joined 1st Source as a Corporate Trainee in 1999 and became a Trust Investment Analyst in 2000. He spent time working for Bear Stearn Japan LTD in Tokyo from 2002 to 2006 before returning to South Bend.

Christopher J. Murphy III, Executive Chairman of the Board, 1st Source Corporation and 1st Source Bank

Christopher J. Murphy III has over 52 years of banking and business experience, having served as a Director, President, and Chief Executive Officer of 1st Source Corporation and 1st Source Bank for 52 years before becoming Executive Chairman of the Board in 2025. He was named President and CEO of the bank in 1977, CEO of the corporation in 1979, and Chairman in 1998. In 1972, Murphy, along with his father-in-law and other investors, purchased the bank back into community ownership. Under his leadership, the bank grew from just over US$100 million to US$8 billion. Earlier in his career, he worked at Citibank and for the Office of the Comptroller of the Currency, U.S. Department of the Treasury.

Kevin C. Murphy, Executive Vice President, 1st Source Corporation and President, 1st Source Bank

Kevin C. Murphy is the Executive Vice President of 1st Source Corporation and became President of 1st Source Bank in 2025. He has over 25 years of experience in the financial industry. Murphy joined the 1st Source team in 2006 and has held several leadership positions, including Regional President of the Central Region (2017), Chief Information Officer (2019), Group Head of IT, Electronic Banking, Marketing, and Digital Strategy (2020), and Executive Vice President and Chief Digital Officer (2022).

John B. Griffith, Executive Vice President, Chief Risk Officer, 1st Source Corporation and 1st Source Bank

John B. Griffith holds the position of Executive Vice President and Chief Risk Officer for both 1st Source Corporation and 1st Source Bank. No further detailed background information was available in the provided search results.

AI Generated Analysis | Feedback

The key risks to 1st Source (SRCE) primarily stem from its core banking operations and the broader economic environment.

Credit Risks: As a financial institution, 1st Source is significantly exposed to credit risks associated with its loan and lease portfolios. These risks are particularly elevated with commercial and commercial real estate loans compared to residential real estate and consumer loans, as repayment often depends on the successful operation and management of underlying assets, which can be influenced by market or economic conditions. The company's loan loss provisions and nonperforming assets can rise, highlighting an inherent sensitivity to credit quality, especially in a slower economy.
Interest Rate Risk and Net Interest Margin Pressure: The profitability of 1st Source is heavily influenced by general economic conditions and the monetary policies set by the Federal Reserve. The company faces potential pressure on its net interest margins if funding costs increase faster than anticipated.
Operational Risks, particularly Cybersecurity: In an increasingly digital banking landscape, 1st Source is subject to operational risks, with technology security breaches being a significant concern. While the company implements various measures and engages third parties to test and evaluate its cybersecurity controls, the evolving and sophisticated nature of cyber threats means there is no absolute assurance that cybersecurity incidents will not adversely impact its financial condition or operations.

AI Generated Analysis | Feedback

The primary clear emerging threat for 1st Source (SRCE) is the rapid rise and increasing adoption of digital-first financial service providers and technologies. This includes:

    Neobanks and Digital Lenders: Companies like Chime, SoFi, Upstart, and Rocket Mortgage offer entirely digital banking experiences, often with lower fees, higher interest rates, and faster loan approvals powered by advanced technology. These entities directly compete with SRCE for consumer deposits, personal loans, mortgages, and small business lending, potentially eroding its traditional customer base and market share, especially among younger, digitally-native demographics.
    Big Tech in Finance: Major technology companies such as Apple, Google, and Amazon are increasingly integrating financial services into their vast ecosystems. They leverage their immense user bases and data to offer payment solutions (e.g., Apple Pay, Google Pay), credit cards (e.g., Apple Card), and lending services (e.g., Amazon lending to sellers). This trend threatens to disintermediate traditional banks like SRCE from direct customer relationships and core financial transactions, shifting customer loyalty towards technology platforms.

These forces represent a fundamental shift in how financial services are delivered and consumed, challenging SRCE's traditional branch-based model and its ability to attract and retain customers in an increasingly digital financial landscape.

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For 1st Source (symbol: SRCE), the addressable market sizes for its main products and services in the United States are as follows:

Commercial Banking: The U.S. commercial banking market size is estimated at USD 732.5 billion in 2025 and is projected to reach USD 915.45 billion by 2030, growing at a CAGR of 4.56% (United States). Another source estimates the market size at USD 1.6 trillion in 2025 (United States).
Auto Loans: The U.S. car loan market is valued at USD 595.19 billion in 2025 and is forecasted to reach USD 898.25 billion by 2030, advancing at a 5.28% CAGR (United States).
Wealth Advisory Services (Wealth Management): The private banking market in the U.S., a component of wealth management, is valued at USD 59.54 billion in 2025 and is expected to reach USD 94.89 billion by 2030, growing at a CAGR of 9.77% (United States). The broader North American wealth management market accounted for $937.45 billion in 2023.

Market sizes for other products or services, such as general consumer banking (excluding auto loans), home loans, insurance products, or highly specialized financing for construction equipment, aircraft, and fleet vehicles, could not be specifically identified within the provided information.

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Expected Drivers of Future Revenue Growth for 1st Source (SRCE)

Over the next 2-3 years, 1st Source (SRCE) is expected to drive future revenue growth through several key areas:

Growth in Net Interest Income (NII) through Increased Average Loan and Lease Balances: The company has consistently demonstrated growth in its average loan and lease portfolios, which directly contributes to its net interest income. For example, average loans and leases grew by $46.93 million in Q3 2025, a 0.67% increase from the previous quarter, and by 6.20% from Q3 2024. Similarly, Q1 2025 saw average loans and leases grow by 1.84% from the previous quarter and 4.53% year-over-year. This growth is a primary component of the bank's earnings.
Continued Expansion of Net Interest Margin (NIM): 1st Source has achieved a "seventh consecutive quarter of margin expansion" in Q3 2025. This improvement has been attributed to "higher rates on increased average loan and lease balances, and lower short-term borrowing costs". Although forecasts suggest more measured gains ahead, with revenue growth projected at 4.7% per year, the ability to expand profitability through margin management remains a significant driver.
Strategic Expansion of Specialty Finance and Renewable Energy Financing Divisions: 1st Source is actively "expanding its national footprint through specialty finance and renewable energy initiatives". These distinct business segments are critical for diversifying lending and extending the company's market reach beyond its core community banking presence in northern Indiana and southwestern Michigan.
Growth in Fee-Based Services, including Wealth Management: While net interest income forms the foundation of bank earnings, fee-based services provide additional income. 1st Source's Wealth Management division offers financial planning, investment advisory, fiduciary, and custodial services, contributing to a diversified revenue stream.

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Share Repurchases

On October 19, 2023, 1st Source's Board of Directors authorized a stock repurchase plan allowing for the repurchase of up to 1,000,000 shares of its common stock.
From April 1, 2025, to July 24, 2025, the company repurchased 47,428 shares for $2.84 million under the October 2023 plan. As of July 24, 2025, a total of 57,979 shares had been repurchased under this plan.
During 2022, 1st Source repurchased 149,819 shares for treasury, which reduced common shareholders' equity by $6.84 million.

Share Issuance

No significant dollar amount of new share issuances by the company in the primary market were identified in the provided information for the last 3-5 years.

Inbound Investments

No large inbound investments by third-parties, such as strategic partners or private equity firms, were identified in the provided information for the last 3-5 years.

Outbound Investments

1st Source Bank, through its Renewable Energy Financing division, engages in tax equity investments with third parties for commercial solar projects across the United States.
These investments support a range of projects including community solar, commercial and industrial, small utility scale, university, and municipal initiatives.

Capital Expenditures

The provided information does not contain specific dollar values for capital expenditures (purchases of property and equipment) for the last 3-5 years.

Better Bets than 1st Source (SRCE)

	SRCE	Better Performance than SRCE
Metric	Value	INDUSTRY: Regional Banks
Rev Chg LTM	10.5%	SSB (45.2%), NU (22.3%), KEY (20.7%), WTFC (11.2%), HBAN (11.1%)
Rev Chg 3Y Avg	7.0%	NU (62.1%), FCNCA (42.2%), SSB (18.3%), MTB (11.4%), EWBC (10.1%)
CFO/Rev LTM	47.8%	AUB (184.3%), BOKF (76.1%), PNFP (65.7%), WBS (58.1%), KEY (52.4%)
FCF/Rev LTM	44.3%	BOKF (76.1%), PNFP (60.3%), WBS (56.4%), KEY (51.0%), EWBC (45.8%)
Total Yield	12.3%	SNV (14.9%), RF (13.0%), COLB (12.7%), CMA (12.5%), HBAN (12.4%)
P/S	3.6	FCNCA (2.4), CFG (2.8), HBAN (3.2), MTB (3.2), FITB (3.5)

	SRCE	Better Performance than SRCE
Metric	Value	SECTOR: Financials
Rev Chg LTM	10.5%	MS (17.6%), RY (15.7%), GS (15.2%), MA (14.6%), V (11.3%)
Rev Chg 3Y Avg	7.0%	BRK-B (19.8%), JPM (13.4%), MA (13.2%), V (10.9%), MS (7.6%)
CFO/Rev LTM	47.8%	RY (83.0%), CME (65.0%), V (57.6%), BAC (57.3%), MA (56.1%)
FCF/Rev LTM	44.3%	RY (79.6%), CME (63.8%), BAC (57.3%), V (53.9%), MA (52.5%)
Total Yield	12.3%	FNMA (21.2%), MFC (15.2%), TD (15.1%), USB (13.7%), TFC (13.5%)
P/S	3.6	C (2.2), BRK-B (2.7), RY (3.1), WFC (3.2), AXP (3.3)

	SRCE	Better Performance than SRCE
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	10.5%	NVDA (65.2%), META (21.3%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%)
Rev Chg 3Y Avg	7.0%	NVDA (91.6%), META (17.3%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%)
CFO/Rev LTM	47.8%	PLD (59.3%), META (56.8%), APP (50.6%), MSFT (50.0%), ANET (49.0%)
FCF/Rev LTM	44.3%	PLD (59.3%), SPG (50.7%), APP (50.6%), ANET (47.9%), PLTR (46.0%)
Total Yield	12.3%	CMCSA (23.8%), VZ (16.8%), PFE (13.5%), MRK (13.0%), ENB (12.9%)
P/S	3.6	WMT (1.2), XOM (1.5), COST (1.5), HD (2.1), AMZN (3.5)

		Best Bets In Financials Sector
	SRCE	JXN	FG	MTG	CME	KNSL	NMIH	CACC	ENVA	TW	HOOD
What You Pay
P/E	10.1	13.0	9.4	8.6	25.8	20.8	7.8	11.6	9.8	37.6	58.0
P/EBIT	�	10.3	5.9	6.6	19.4	16.2	5.7	9.2	7.5	25.4	63.5
What You Get
Rev Chg Q	13.0%	-35.5%	17.8%	-0.7%	-3.0%	19.0%	7.6%	6.0%	16.3%	13.3%	100.0%
Rev Chg LTM	10.5%	24.0%	-4.9%	2.2%	5.8%	18.1%	8.9%	10.2%	21.1%	22.2%	74.6%
Rev Chg 3Y Avg	7.0%	429.4%	22.0%	1.2%	8.9%	32.4%	10.3%	7.6%	23.5%	19.7%	47.5%
FCF/Rev 3Y Avg	48.3%	847.0%	120.8%	62.2%	61.9%	60.8%	58.4%	55.6%	54.7%	49.8%	45.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 21%, alpha of 9.1%, and sharpe of 0.94

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	How Low Can 1st Source Stock Really Go?	Return
2	Why 1st Source Stock Moved: SRCE Stock Has Gained 41% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues
3	1st Source (SRCE) Valuation Ratios Comparison	Financials
4	SRCE Dip Buy Analysis
5	Buy Or Fear 1st Source (SRCE) Stock?	Buy or Fear
6	1st Source (SRCE) Operating Cash Flow Comparison	Financials
7	1st Source (SRCE) Net Income Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to SRCE. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WU_11212025_Dip_Buyer_FCFYield	11212025	WU	Western Union	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.6%	14.6%	-0.4%
COIN_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	COIN	Coinbase Global	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.6%	1.6%	0.0%
PYPL_11142025_Dip_Buyer_FCFYield	11142025	PYPL	PayPal	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-4.2%	-4.2%	-7.5%
V_11142025_Monopoly_xInd_xCD_Getting_Cheaper	11142025	V	Visa	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	4.4%	4.4%	-2.7%
WD_11072025_Dip_Buyer_ValueBuy	11072025	WD	Walker & Dunlop	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-10.5%	-10.5%	-11.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WU_11212025_Dip_Buyer_FCFYield	11212025	WU	Western Union	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.6%	14.6%	-0.4%
COIN_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	COIN	Coinbase Global	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.6%	1.6%	0.0%
PYPL_11142025_Dip_Buyer_FCFYield	11142025	PYPL	PayPal	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-4.2%	-4.2%	-7.5%
V_11142025_Monopoly_xInd_xCD_Getting_Cheaper	11142025	V	Visa	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	4.4%	4.4%	-2.7%
WD_11072025_Dip_Buyer_ValueBuy	11072025	WD	Walker & Dunlop	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-10.5%	-10.5%	-11.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UDMY	Udemy	0.9	12.7%	-26.5%
TWO	Two Harbors Investment	1.2	12.1%	8.5%
IOVA	Iovance Biotherapeutics	0.9	12.0%	-65.9%
KOD	Kodiak Sciences	1.4	11.8%	171.1%
RXRX	Recursion Pharmaceuticals	2.1	11.4%	-30.8%
TTC	Toro	7.9	10.7%	2.0%
HUT	Hut 8	4.2	9.0%	96.0%
TPL	Texas Pacific Land	20.3	7.6%	-19.7%
AXGN	Axogen	1.5	7.0%	90.5%
SSII	SS Innovations International	1.1	6.7%	-25.6%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NOW	ServiceNow	32.5	-80.0%	-85.2%
FDMT	4D Molecular Therapeutics	0.5	-20.1%	65.4%
IMNM	Immunome	1.7	-15.8%	86.3%
HNRG	Hallador Energy	0.7	-15.2%	51.2%
AMPX	Amprius Technologies	1.1	-14.6%	213.6%
BNTC	Benitec Biopharma	0.4	-13.1%	-14.6%
FLNC	Fluence Energy	2.4	-12.9%	16.9%
IMSR	Terrestrial Energy	0.7	-12.6%
BE	Bloom Energy	18.1	-12.1%	246.6%
BW	Babcock & Wilcox Enterprises	0.5	-12.1%	182.9%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	13.7	55.9%	-3.2%
PL	Planet Labs PBC	5.0	27.3%	307.7%
EEX	Emerald	0.9	25.9%	-2.8%
EVCM	EverCommerce	2.2	17.2%	10.4%
CNL	Collective Mining	1.1	15.8%	229.3%
ENVA	Enova International	4.1	15.8%	70.8%
IMVT	Immunovant	4.6	14.5%	8.9%
QURE	uniQure	1.3	14.3%	30.4%
INNV	InnovAge	0.8	14.2%	49.6%
PGEN	Precigen	1.2	13.4%	255.4%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.7%	-85.2%
RZLT	Rezolute	0.2	-81.6%	-59.0%
FRMI	Fermi	6.3	-41.1%
LENZ	LENZ Therapeutics	0.5	-34.6%	-43.3%
BETR	Better Home & Finance	0.5	-30.9%	292.0%
LWLG	Lightwave Logic	0.4	-29.5%	41.4%
APLD	Applied Digital	5.6	-29.0%	188.0%
CRWV	CoreWeave	31.4	-26.8%
WULF	TeraWulf	4.5	-26.6%	104.4%
BW	Babcock & Wilcox Enterprises	0.5	-26.5%	182.9%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.8	282.6%	459.2%
WVE	WAVE Life Sciences	2.7	128.5%	32.1%
ALMS	Alumis	0.8	89.8%	34.6%
NUVB	Nuvation Bio	2.9	82.4%	220.3%
SEMR	SEMrush	1.8	75.7%	-0.2%
TE	T1 Energy	0.8	70.4%
ANF	Abercrombie & Fitch	5.6	68.4%	-21.6%
CBLL	CeriBell	0.8	67.5%	-16.6%
FTRE	Fortrea	1.5	65.4%	-13.2%
VERA	Vera Therapeutics	3.1	64.7%	14.8%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.3%	-85.2%
RZLT	Rezolute	0.2	-80.3%	-59.0%
JANX	Janux Therapeutics	0.9	-50.9%	-73.7%
FRMI	Fermi	6.3	-50.6%
AGIO	Agios Pharmaceuticals	1.5	-43.6%	-22.6%
IMSR	Terrestrial Energy	0.7	-38.9%
LENZ	LENZ Therapeutics	0.5	-36.3%	-43.3%
LWLG	Lightwave Logic	0.4	-36.3%	41.4%
UAMY	United States Antimony	0.5	-33.7%	156.5%
BETR	Better Home & Finance	0.5	-33.6%	292.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UDMY	Udemy	0.9	12.7%	-26.5%
TWO	Two Harbors Investment	1.2	12.1%	8.5%
IOVA	Iovance Biotherapeutics	0.9	12.0%	-65.9%
KOD	Kodiak Sciences	1.4	11.8%	171.1%
RXRX	Recursion Pharmaceuticals	2.1	11.4%	-30.8%
TTC	Toro	7.9	10.7%	2.0%
HUT	Hut 8	4.2	9.0%	96.0%
TPL	Texas Pacific Land	20.3	7.6%	-19.7%
AXGN	Axogen	1.5	7.0%	90.5%
SSII	SS Innovations International	1.1	6.7%	-25.6%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NOW	ServiceNow	32.5	-80.0%	-85.2%
FDMT	4D Molecular Therapeutics	0.5	-20.1%	65.4%
IMNM	Immunome	1.7	-15.8%	86.3%
HNRG	Hallador Energy	0.7	-15.2%	51.2%
AMPX	Amprius Technologies	1.1	-14.6%	213.6%
BNTC	Benitec Biopharma	0.4	-13.1%	-14.6%
FLNC	Fluence Energy	2.4	-12.9%	16.9%
IMSR	Terrestrial Energy	0.7	-12.6%
BE	Bloom Energy	18.1	-12.1%	246.6%
BW	Babcock & Wilcox Enterprises	0.5	-12.1%	182.9%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	13.7	55.9%	-3.2%
PL	Planet Labs PBC	5.0	27.3%	307.7%
EEX	Emerald	0.9	25.9%	-2.8%
EVCM	EverCommerce	2.2	17.2%	10.4%
CNL	Collective Mining	1.1	15.8%	229.3%
ENVA	Enova International	4.1	15.8%	70.8%
IMVT	Immunovant	4.6	14.5%	8.9%
QURE	uniQure	1.3	14.3%	30.4%
INNV	InnovAge	0.8	14.2%	49.6%
PGEN	Precigen	1.2	13.4%	255.4%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.7%	-85.2%
RZLT	Rezolute	0.2	-81.6%	-59.0%
FRMI	Fermi	6.3	-41.1%
LENZ	LENZ Therapeutics	0.5	-34.6%	-43.3%
BETR	Better Home & Finance	0.5	-30.9%	292.0%
LWLG	Lightwave Logic	0.4	-29.5%	41.4%
APLD	Applied Digital	5.6	-29.0%	188.0%
CRWV	CoreWeave	31.4	-26.8%
WULF	TeraWulf	4.5	-26.6%	104.4%
BW	Babcock & Wilcox Enterprises	0.5	-26.5%	182.9%

Peer Comparisons for 1st Source

Peers to compare with:

Financials

	SRCE	NEWT	ATLO	CBC	HYNE	NU	Median
Name	1st Sour.	NewtekOne	Ames Nat.	Central .	Hoyne Ba.	Nu
Mkt Price	66.20	12.08	23.71	23.31	13.70	15.86	19.59
Mkt Cap	1.6	0.3	0.2	-	-	77.5	1.0
Rev LTM	421	269	63	-	14	9,600	269
Op Inc LTM	-	-	-	-	-	-	-
FCF LTM	187	-520	19	-	-2	3,666	19
FCF 3Y Avg	189	-229	16	-	-	1,968	102
CFO LTM	201	-519	20	-	-1	4,040	20
CFO 3Y Avg	198	-228	18	-	-	2,188	108

Growth & Margins

	SRCE	NEWT	ATLO	CBC	HYNE	NU	Median
Name	1st Sour.	NewtekOne	Ames Nat.	Central .	Hoyne Ba.	Nu
Rev Chg LTM	10.5%	21.8%	18.0%	-	-	22.3%	19.9%
Rev Chg 3Y Avg	7.0%	31.6%	0.3%	-	-	62.1%	19.3%
Rev Chg Q	13.0%	20.7%	22.9%	-	37.1%	30.2%	22.9%
QoQ Delta Rev Chg LTM	3.1%	4.7%	5.2%	-	7.8%	7.1%	5.2%
Op Mgn LTM	-	-	-	-	-	-	-
Op Mgn 3Y Avg	-	-	-	-	-	-	-
QoQ Delta Op Mgn LTM	-	-	-	-	-	-	-
CFO/Rev LTM	47.8%	-193.4%	31.5%	-	-10.8%	42.1%	31.5%
CFO/Rev 3Y Avg	50.6%	-91.8%	31.1%	-	-	21.7%	26.4%
FCF/Rev LTM	44.3%	-193.4%	30.8%	-	-15.9%	38.2%	30.8%
FCF/Rev 3Y Avg	48.3%	-91.9%	27.1%	-	-	18.7%	22.9%

Valuation

	SRCE	NEWT	ATLO	CBC	HYNE	NU	Median
Name	1st Sour.	NewtekOne	Ames Nat.	Central .	Hoyne Ba.	Nu
Mkt Cap	1.6	0.3	0.2	-	-	77.5	1.0
P/S	3.6	1.1	2.9	-	-	8.1	3.2
P/EBIT	-	-	-	-	-	-	-
P/E	10.1	4.9	11.2	-	-	30.6	10.7
P/CFO	7.5	-0.6	9.1	-	-	19.2	8.3
Total Yield	12.3%	20.2%	12.9%	-	-	3.3%	12.6%
Dividend Yield	2.5%	0.0%	4.0%	-	-	0.0%	1.2%
FCF Yield 3Y Avg	14.5%	-76.1%	-	-	-	-	-30.8%
D/E	0.1	2.6	-	-	-	-	1.3
Net D/E	-0.8	1.8	-	-	-	-	0.5

Returns

	SRCE	NEWT	ATLO	CBC	HYNE	NU	Median
Name	1st Sour.	NewtekOne	Ames Nat.	Central .	Hoyne Ba.	Nu
1M Rtn	10.9%	23.4%	14.5%	-	-	1.7%	12.7%
3M Rtn	5.2%	2.2%	17.2%	-	-	-0.6%	3.7%
6M Rtn	13.5%	19.4%	40.0%	-	-	29.6%	24.5%
12M Rtn	8.8%	-2.1%	49.7%	-	-	35.6%	22.2%
3Y Rtn	35.2%	-21.9%	21.2%	-	-	306.7%	28.2%
1M Excs Rtn	10.2%	22.7%	13.8%	-	-	0.9%	12.0%
3M Excs Rtn	0.9%	-3.3%	14.5%	-	-	-2.2%	-0.7%
6M Excs Rtn	1.1%	7.0%	27.6%	-	-	17.2%	12.1%
12M Excs Rtn	-3.9%	-19.5%	37.0%	-	-	21.8%	8.9%
3Y Excs Rtn	-36.6%	-87.9%	-50.4%	-	-	226.1%	-43.5%

FDIC Bank Data

Bank Capital

FDIC Data As Of	3312025
CAPITAL
Equity Total Capital ($ Bil)	1
Tier 1 (Core) Capital ($ Bil)	1
ASSETS
Total Assets ($ Bil)	9
Adjusted Average Assets ($ Bil)	9
Risk Weighted Assets Adjusted ($ Bil)	8
LEVERAGE RATIOS
Tier 1 Capital / Total Assets Ratio	12.9%
Tier 1 Capital / Adjusted Avg Assets Ratio	13.0%
Tier 1 Capital / Risk Wtd Assets Ratio	14.8%

Bank Deposits

FDIC Data As Of	3312025
DEPOSITS
Total Deposits ($ Bil)	7
Uninsured Deposits ($ Bil)	4
Uninsured Deposits Ratio %	54.0%

Bank Assets

FDIC Data As Of	3312025
ASSETS
Cash Balance ($ Bil)	0
Securities ($ Bil)	2
Net Loans ($ Bil)	7
Trading Assets ($ Bil)	0
Bank Premises Assets ($ Bil)	0
Other Real Estate Owned ($ Bil)	0
Goodwill & Intangibles ($ Bil)	0
Other Assets ($ Bil)	0
Total Assets (Sum) ($ Bil)	9
Total Assets (Reported) ($ Bil)	9
Risk Weighted Assets ($ Bil)	8
SECURITIES DETAILS
US Govt Securities ($ Bil)	1
Equity Securities Not Held for Trading ($ Bil)	0
Total Debt Securities ($ Bil)	2
Mortgage-Backed Securities ($ Bil)	1
SECURITIES VALUATION
Securities Held to Maturity (Book Value) ($ Bil)	0
Securities Available for Sale (Fair Market) ($ Bil)	2

Bank Loans

[valid:true, table:

FDIC Data As Of	3312025
LOAN DETAILS
All Real Estate Loans ($ Bil)	2
Farm Loans ($ Bil)	0
Commercial and Industrial Loans ($ Bil)	5
Loans to Individuals (CC, revolving credit, auto, other) (non-mortgage) ($ Bil)	0
Commercial Real Estate Loans not Secured by Real Estate ($ Bil)	0
Commercial Real Estate Owner-Occupied ($ Bil)	0
Commercial Real Estate Other Non-Farm Non-Residential ($ Bil)	0
Total Net Loans ($ Bil)	7

, map:[FDIC Data As Of:3312025, LOAN DETAILS:null, All Real Estate Loans ($ Bil):1.920904, Farm Loans ($ Bil):0.040168, Commercial and Industrial Loans ($ Bil):4.549996, Loans to Individuals (CC, revolving credit, auto, other) (non-mortgage) ($ Bil):0.127192, Commercial Real Estate Loans not Secured by Real Estate ($ Bil):0.083611, Commercial Real Estate Owner-Occupied ($ Bil):0.466992, Commercial Real Estate Other Non-Farm Non-Residential ($ Bil):0.288880, Total Net Loans ($ Bil):6.708228]]

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/23/2025	2/18/2025	2/20/2024	2/16/2023	2/17/2022	2/18/2021	2/20/2020
Key Financials
Total Revenue	421	387	369	355	337	330	325
Net Income	149	133	125	121	119	81	92
EPS	6.01	5.36	5.03	4.84	4.70	3.17	3.57
Growth Rates
Total Revenue Growth	10.5%	4.8%	4.1%	5.3%	2.1%	1.5%	4.5%
Net Income Growth	14.6%	6.2%	3.7%	1.7%	45.6%	-11.4%	11.6%
Margins
Net Income Margin	35.3%	34.3%	33.8%	34.0%	35.2%	24.7%	28.3%
Cash & Debt
Total Cash	1,324	1,022	1,700	1,860	1,917	1,272	1,108
Total Debt	102	253	342	162	115	127	138
Net Debt / (Cash)	-1,222	-769	-1,358	-1,698	-1,803	-1,144	-970
Cash Flows
Net Cash from Operations	201	194	188	176	167	154	165
Free Cash from Operations	187	181	182	173	164	152	154
Returns to Shareholders
Dividends	37	35	33	32	31	30	29
Share Repurchases	10	0	12	7	33	6	15

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/23/2025	7/24/2025	4/24/2025	2/18/2025	10/24/2024	7/25/2024	4/25/2024	2/20/2024	10/19/2023	7/20/2023	4/20/2023	2/16/2023
Key Financials Quarterly
Total Revenue	111	108	104	98	98	97	94	91	94	91	93	95
Net Income	42	37	38	31	35	37	29	28	33	32	31	31
EPS	1.71	1.51	1.52	1.27	1.41	1.49	1.19	1.15	1.32	1.30	1.25	1.25
Key Financials TTM
Total Revenue TTM	421	408	397	387	381	376	370	369	373	370	365	355
Net Income TTM	149	141	141	133	130	128	123	125	128	127	124	121
Growth Rates Quarterly
Total Revenue Growth	13.0%	11.3%	10.6%	7.0%	4.5%	6.6%	1.3%	-3.5%	3.0%	5.8%	12.2%	12.9%
Net Income Growth	21.1%	1.4%	27.4%	10.6%	6.1%	13.4%	-5.4%	-8.5%	0.6%	10.6%	13.6%	12.1%
Margins Quarterly
Net Income Margin	38.2%	34.5%	36.1%	32.1%	35.7%	37.8%	31.3%	31.1%	35.2%	35.5%	33.5%	32.8%
Cash & Debt
Total Cash	1,324	1,310	1,349	1,022	1,663	1,613	1,625	1,700	1,681	1,748	1,780	1,860
Total Debt	102	152	101	253	200	315	265	342	329	224	335	162
Net Debt / (Cash)	-1,222	-1,157	-1,248	-769	-1,463	-1,298	-1,360	-1,358	-1,352	-1,524	-1,445	-1,698
Cash Flows Quarterly
FCF from Operations	51	45	72	34	68	50	42	44	52	45	47	44
Cash Flows TTM
FCF from Operations TTM	201	219	224	194	204	188	183	188	188	180	181	176
Returns to Shareholders Quarterly
Dividends	10	10	9	9	9	9	9	9	8	8	8	8
Share Repurchases	6	3	0	0	-0	-0	-0	-0	10	1	1	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-	-	-	-	-	-	-	-	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-	-	-	-	-	-	-	-	-	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Commercial Banking	369	355	337	330	325
Total	369	355	337	330	325

Price Behavior

Price Behavior

Market Price	$66.20
Market Cap ($ Bil)	1.6
First Trading Date	09/03/1996
Distance from 52W High	-0.2%
	50 Days	200 Days
DMA Price	$61.43	$60.63
DMA Trend	indeterminate	indeterminate
Distance from DMA	7.8%	9.2%
	3M	1YR
Volatility	23.8%	26.3%
Downside Capture	24.39	76.81
Upside Capture	47.53	76.31
Correlation (SPY)	31.7%	53.2%

SRCE Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.51	0.62	0.64	1.01	0.71	0.80
Up Beta	0.28	0.73	1.08	1.62	0.55	0.74
Down Beta	-0.15	0.93	0.72	0.93	0.82	0.81
Up Capture	102%	49%	31%	68%	63%	52%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	11	22	28	60	116	366
Down Capture	45%	46%	63%	97%	91%	97%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	20	34	65	132	379

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of SRCE With Other Asset Classes (Last 1Y)
	SRCE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	6.7%	11.4%	12.1%	61.5%	2.2%	-2.2%	-12.7%
Annualized Volatility	26.3%	19.3%	19.7%	19.3%	15.9%	17.7%	35.4%
Sharpe Ratio	0.22	0.44	0.46	2.36	-0.05	-0.28	-0.17
Correlation With Other Assets		65.6%	53.1%	-1.9%	11.3%	54.3%	19.9%

ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of SRCE With Other Asset Classes (Last 5Y)
	SRCE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	13.4%	15.7%	14.4%	18.3%	11.4%	4.8%	36.3%
Annualized Volatility	28.4%	18.9%	17.1%	15.5%	18.9%	18.9%	48.9%
Sharpe Ratio	0.47	0.69	0.68	0.95	0.49	0.17	0.63
Correlation With Other Assets		63.3%	43.6%	0.9%	10.6%	43.6%	19.8%

Based On 10-Year Data

		Comparison of SRCE With Other Asset Classes (Last 10Y)
	SRCE	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	10.4%	13.0%	14.5%	14.6%	6.1%	5.4%	70.7%
Annualized Volatility	30.6%	22.3%	18.0%	14.7%	17.7%	20.8%	55.9%
Sharpe Ratio	0.39	0.54	0.69	0.82	0.27	0.23	0.91
Correlation With Other Assets		72.8%	54.9%	-7.3%	19.5%	50.7%	13.9%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	180,262
Short Interest: % Change Since 11152025	3.0%
Average Daily Volume	67,595
Days-to-Cover Short Interest	2.67
Basic Shares Quantity	24,472,035
Short % of Basic Shares	0.7%

Returns Analyses

	Title
0	How Low Can 1st Source Stock Really Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/23/2025	3.6%	1.8%	6.2%
7/24/2025	-1.8%	-3.5%	4.0%
4/24/2025	3.2%	5.3%	6.9%
1/23/2025	-0.0%	9.2%	12.4%
10/24/2024	-3.4%	-0.4%	12.1%
7/25/2024	4.9%	0.2%	-1.4%
4/25/2024	0.4%	-0.7%	-0.8%
1/18/2024	4.8%	5.5%	0.8%
...
SUMMARY STATS
# Positive	14	12	15
# Negative	10	12	9
Median Positive	2.6%	5.4%	8.1%
Median Negative	-1.5%	-3.2%	-1.4%
Max Positive	12.1%	16.6%	16.7%
Max Negative	-8.0%	-5.5%	-6.1%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10232025	10-Q 9/30/2025
6302025	7242025	10-Q 6/30/2025
3312025	4242025	10-Q 3/31/2025
12312024	2182025	10-K 12/31/2024
9302024	10242024	10-Q 9/30/2024
6302024	7252024	10-Q 6/30/2024
3312024	4252024	10-Q 3/31/2024
12312023	2202024	10-K 12/31/2023
9302023	10192023	10-Q 9/30/2023
6302023	7202023	10-Q 6/30/2023
3312023	4202023	10-Q 3/31/2023
12312022	2162023	10-K 12/31/2022
9302022	10202022	10-Q 9/30/2022
6302022	7212022	10-Q 6/30/2022
3312022	4212022	10-Q 3/31/2022
12312021	2172022	10-K 12/31/2021

Industry Resources

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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1st Source (SRCE)

Market Price (12/18/2025): $66.165 | Market Cap: $1.6 BilSector: Financials | Industry: Regional Banks

1st Source (SRCE)

Market Price (12/18/2025): $66.165Market Cap: $1.6 BilSector: FinancialsIndustry: Regional Banks

Valuation, Metrics & Events

SRCE Stock

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Market Price (12/18/2025): $66.165 | Market Cap: $1.6 Bil
Sector: Financials | Industry: Regional Banks

Market Price (12/18/2025): $66.165
Market Cap: $1.6 Bil
Sector: Financials
Industry: Regional Banks