SRCE

1st Source Corporation

$60.92

1.42

(2.39%)

Exchange:	NASDAQ
Market Cap:	1.496B
Shares Outstanding:	21.88M

Overview

Earnings

Financials

Valuation

Chart

About The Company

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.

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Revenue Segmentation

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EPS

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Earnings Call

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Income Statement

Balance Sheet

Cash Flow Statement

Analyst Estimates

Income Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Revenue	249,837	258,604	284,337	310,956	324,996	329,709	336,730	354,731	363,404	484,017
? Cost Of Revenue	0	0	0	0	0	0	0	0	0	0
? Gross Profit	249,837	258,604	284,337	310,956	324,996	329,709	336,730	354,731	363,404	484,017
? Research And Development Expenses	0	0	0	0	0	0	0	0	0	0
? General And Administrative Expenses	100,393	100,164	102,281	109,212	111,650	113,882	122,440	136,933	121,538	7,098
? Selling And Marketing Expenses	4,837	4,936	7,477	6,112	6,303	4,157	8,013	5,823	0	6,876
? Operating Expenses	-136,907	-140,654	-149,473	-162,519	-204,897	-223,392	-181,868	-167,620	369,270	13,974
? Net Interest Income	0	0	0	0	0	0	0	0	0	0
? Interest Income	184,684	191,760	212,385	257,316	282,877	263,031	254,772	293,816	416,907	0
? Interest Expense	18,163	22,101	26,754	43,410	59,011	37,211	18,134	30,347	138,260	183,200
? Depreciation And Amortization	18,280	26,923	30,873	31,868	33,960	28,718	21,882	17,800	15,463	0
? EBITDA	112,313	112,970	128,836	134,626	150,914	120,392	167,359	172,905	0	0
? EBIT
? Operating Income	112,930	117,950	134,864	148,437	120,099	106,317	154,862	187,111	0	470,043
? Income Before Tax	88,563	89,126	101,360	105,027	120,154	106,341	154,885	156,787	161,680	171,057
? Income Tax Expense	31,077	31,340	33,309	22,613	28,139	24,880	36,328	36,255	36,746	38,439
? Net Income From Continuing Operations
? Net Income	57,486	57,786	68,051	82,414	91,960	81,437	118,534	120,509	124,927	132,618
? EPS (Earnings Per Share)	2.200	2.220	2.620	3.180	3.570	3.170	4.700	4.880	5.030	5.410
? EPS Diluted	2.200	2.220	2.620	3.180	3.570	3.170	4.700	4.880	5.030	5.410
? Weighted Average Shares Outstanding	26,173.351	25,879.397	25,925.820	25,937.599	25,600.138	25,527.154	25,038.127	24,687.324	24,615.546	24,496.148
? Weighted Average Shares Outstanding Diluted	26,173.351	26,059.762	25,925.820	25,937.599	25,600.138	25,527.154	25,038.127	24,687.324	24,615.546	24,496.148
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Balance Sheet

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Cash And Cash Equivalents	65,171	58,578	73,635	94,907	67,215	74,186	54,420	84,703	77,474	76,837
? Short Term Investments	791,727	850,467	904,033	990,129	1,040,583	1,197,467	1,863,041	1,775,128	500	1,536,299
? Cash And Short Term Investments	856,898	909,045	977,668	1,085,036	1,107,798	1,271,653	1,917,461	1,859,831	106,389	1,613,136
? Net Receivables	129,852	130,059	155,412	159,271	0	0	0	0	0	0
? Accounts Receivables										0
? Inventory	0	0	0	0	-92,510	-265,624	-543,808	-147,975	0	0
? Total Current Assets	4,125,978	4,353,740	4,679,363	5,004,635	1,335,788	1,560,228	2,186,930	2,239,841	106,389	1,613,136
? Property Plant Equipment Net	163,562	175,501	194,193	186,579	163,903	114,413	95,471	76,473	88,217	53,456
? Goodwill	84,676	84,102	83,742	83,998	83,867	83,948	83,926	83,907	83,895	83,900
? Intangible Assets	84,676	84,102	83,742	83,998	104	82	60	40	21	2
? Long Term Investments	813,700	872,925	929,986	1,018,533	1,068,997	1,224,896	1,890,230	1,800,421	1,647,675	0
? Total Non Current Assets	1,061,938	1,132,528	1,207,921	1,289,110	1,316,871	1,423,257	2,069,627	1,960,801	9,947,013	137,353
? Total Assets	5,187,916	5,486,268	5,887,284	6,293,745	6,622,776	7,316,411	8,096,289	8,339,416	8,727,958	8,931,938
? Account Payables	0	0	0	0	0	0	0	0	0	0
? Short Term Debt	102,567	129,030	8,761	0	25,434	7,077	5,300	74,097	256,550	176,852
? Deferred Revenue	0	0	0	0	0	0	0	0	0	0
? Total Current Liabilities	102,567	129,030	8,761	85,717	25,434	7,077	5,300	74,097	151,195	176,852
? Long Term Debt	116,143	133,072	109,876	129,887	112,431	120,270	109,417	87,414	85,034	0
? Deferred Revenue Non Current	0	0	0	0	0	0	0	0	0	0
? Deferred Tax Liabilities Non Current	0	0	0	0	0	0	0	0	0	0
? Total Non Current Liabilities	116,143	133,072	128,824	113,345	130,403	140,628	130,015	74,097	7,508,500	7,573,580
? Total Liabilities	4,543,863	4,813,618	5,168,747	5,530,155	5,774,140	6,385,741	7,126,825	7,415,650	7,659,695	7,750,432
? Treasury Stock										0
? Preferred Stock	0	0	0	0	0	0	0	0	0	0
? Common Stock	436,538	436,538	436,538	436,538	436,538	436,538	436,538	436,538	436,538	436,538
? Retained Earnings	251,812	290,824	339,959	398,980	463,269	514,176	603,787	694,862	789,842	890,937
? Additional Paid In Capital										0
? Total Stockholders Equity	644,053	672,650	718,537	762,082	828,277	886,845	916,255	864,068	989,568	1,111,068
? Total Equity	644,053	672,650	718,537	763,590	848,636	930,670	969,464	923,766	1,068,263	1,181,506
? Minority Interest	0	0	0	1,508	20,359	43,825	53,209	59,698	78,695	70,438
? Total Liabilities And Total Equity	5,187,916	5,486,268	5,887,284	6,293,745	6,622,776	7,316,411	8,096,289	8,339,416	8,727,958	8,931,938
? Total Investments	1,605,427	1,723,392	1,834,019	2,008,662	2,109,580	2,422,363	3,753,271	3,575,549	3,270,275	1,536,299
? Total Debt	218,710	262,102	137,585	215,604	155,837	147,705	135,315	179,416	341,584	176,852
? Net Debt	153,539	203,524	63,950	120,697	88,622	73,519	80,895	94,713	264,110	100,015
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Cash Flow Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Net Income	57,486	57,786	68,051	82,414	92,015	81,461	118,557	120,532	124,934	132,618
? Depreciation And Amortization	24,484	28,401	31,965	32,824	35,272	31,079	23,999	19,087	15,463	12,361
? Deferred Income Tax	1,620	2,856	2,767	-550	-5,730	-24,160	15,396	-9,461	-9,462	2,432
? Stock Based Compensation	3,843	2,884	2,963	3,553	2,765	3,293	4,214	3,587	4,891	5,655
? Change In Working Capital	657	2,037	-5,599	549	29,428	12,035	3,138	19,451	39,989	23,879
? Accounts Receivables	-549	-1,326	-2,119	-1,747	-245	-1,117	2,482	-6,987	0	0
? Inventory	203	-4,221,917	-4,675,304	-4,919,619	0	0	0	0	0	0
? Accounts Payables	798	570	1,222	2,997	4,968	-9,923	-2,111	4,115	23,521	6,974
? Net Cash Provided By Operating Activities	101,031	98,060	117,261	144,374	164,606	154,493	166,761	175,530	187,936	193,853
? Investments In Property Plant And Equipment	-64,006	-39,035	-51,447	-24,165	-10,528	-2,850	-2,886	-2,380	-5,980	0
? Acquisitions Net	-313,976	-203,742	-350,382	-332,669	-369,528	-500,559	69,182	13,225	0	0
? Purchases Of Investments	-148,943	-313,559	-472,880	-257,656	-351,199	-597,296	-1,145,697	-327,496	-98,397	-324,731
? Sales Maturities Of Investments	137,948	244,300	406,309	158,427	317,295	453,005	435,812	232,117	-2,926	434,695
? Net Cash Provided By Investing Activities	0	0	0	0	0	0	0	0	0	-276,605
? Net Debt Issuance	0	0	0	0	0	0	0	0	0	-75,791
? Long Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	-12,630
? Short Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	-63,161
? Net Stock Issuance	0	0	0	0	0	0	0	0	0	-178
? Net Dividends Paid	-18,126	-19,416	-20,431	-25,686	-29,021	-29,764	-31,340	-32,101.999	-33,073.999	-35,396
? Common Dividends Paid										-35,396
? Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0
? Net Cash Provided By Financing Activities	294,536	240,370	314,674	319,302	153,597	587,847	713,938	206,952	177,221	77,910
? Effect Of Forex Changes On Cash	0	0	0	0	0	0	0	0	0	0
? Net Change In Cash	13,531	28,583	-30,271	21,046	-15,714	159,682	282,140	-402,390	6,871	-4,842
? Cash At End Of Period	79,721	108,304	78,033	99,079	83,365	243,047	525,187	122,797	129,668	124,826
? Cash At Beginning Of Period	66,190	79,721	108,304	78,033	99,079	83,365	243,047	525,187	122,797	129,668
? Operating Cash Flow	101,031	98,060	117,261	144,374	164,606	154,493	166,761	175,530	187,936	193,853
? Capital Expenditure	-64,006	-39,035	-51,447	-24,165	-10,528	-2,850	-2,886	-2,380	-5,980	-12,367
? Free Cash Flow	37,025	59,025	65,814	120,209	154,078	151,643	163,875	173,150	181,956	181,486
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Analyst Estimates

(* All numbers are in thousands)

Fiscal Year	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Estimated Revenue (Low)	278,964.985	308,472.487	323,987.083	321,009.868	336,364.355	351,251.922	363,281.460	381,932.558	404,619.258	416,294.359
Estimated Revenue (High)	282,858.776	312,778.143	328,509.291	325,490.521	341,059.326	356,546.743	372,400.769	391,520.057	414,776.252	426,744.429
Estimated Revenue (Avg)	281,100	310,833.333	326,466.667	323,466.667	338,938.667	353,899.333	368,298.333	387,207	410,207	422,043.333
Estimated Ebitda (Low)	125,933.891	154,162.682	168,503.022	118,864.064	135,203.646	146,296.789	160,926.466	138,560.613	146,791.079	151,026.668
Estimated Ebitda (High)	188,900.838	231,244.022	252,754.534	178,296.097	202,805.470	219,445.184	241,389.700	142,038.844	150,475.917	154,817.830
Estimated Ebitda (Avg)	157,417.365	192,703.353	210,628.778	148,580.081	169,004.558	182,870.987	201,158.083	140,474.118	148,818.246	153,112.328
Estimated Net Income (Low)	53,661.667	70,033.488	72,212.353	53,894.955	81,501.793	89,984.204	98,988.798	131,795.895	137,846.444	139,481.562
Estimated Net Income (High)	80,492.501	105,050.233	108,318.531	80,842.433	122,252.690	134,976.307	148,483.200	134,232.282	138,796.894	144,052.298
Estimated Net Income (Avg)	67,077.084	87,541.861	90,265.442	67,368.694	101,877.242	112,480.256	123,736	132,622.999	138,145.330	140,625
Estimated SGA Expense (Low)	80,723.673	92,951.036	87,839.882	77,838.819	84,647.595	97,084.414	106,792.853	135,434.925	143,479.727	147,619.768
Estimated SGA Expense (High)	121,085.510	139,426.554	131,759.824	116,758.226	126,971.395	145,626.625	160,189.286	138,834.694	147,081.440	151,325.407
Estimated SGA Expense (Avg)	100,904.592	116,188.795	109,799.853	97,298.523	105,809.495	121,355.520	133,491.070	137,305.265	145,461.164	149,658.379
Estimated EPS (Avg)	2.540	3.310	3.610	2.860	4.800	4.850	4.960	5.430	5.650	5.800
Estimated EPS (High)	2.560	3.340	3.640	2.880	4.840	4.900	5.030	5.480	5.670	5.880
Estimated EPS (Low)	2.510	3.280	3.570	2.830	4.750	4.800	4.950	5.380	5.630	5.690
Number of Analysts (Estimated Revenue)	10	10	1	1	1	1	2	1	2	2
Number of Analysts (Estimated EPS)	9	9	1	1	1	1	2	2	2	2

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Current Key Metrics

?	Revenue (TTM) :	567.683M	?	P/S (TTM) :	2.53
?	Net Income (TTM) :	131.395M	?	P/E (TTM) :	10.4
?	Enterprise Value (TTM) :	1.535B	?	EV/FCF (TTM) :	7.33
?	Dividend Yield (TTM) :	0.02	?	Payout Ratio (TTM) :	0.26
?	ROE (TTM) :	0.13	?	ROIC (TTM) :	0.09
?	Net Debt (TTM) :	288.431M	?	Debt/Equity (TTM) :	0.14
?	P/B (TTM) :	1.26	?	Current Ratio (TTM) :	0.18

Forward P/E Ratios

?

Forward P/E calculated based on:

Forward P/E 1Y	Forward P/E 2Y	Forward P/E 3Y	Forward P/E 4Y	Forward P/E 5Y
23.98	18.40	16.88	21.30	12.69

SWOT Analysis

No SWOT analysis available for this stock.

SRCE

2.39

4.23

1.31

-0.94

3.01

20.8

73.81

Trading Metrics:

Open:	59.75	Previous Close:	59.5
Day Low:	59.27	Day High:	60.95
Year Low:	49.78	Year High:	68.13
Price Avg 50:	59.59	Price Avg 200:	60.84
Volume:	114602	Average Volume:	103607

Relevant news

04-02-2025 12:03

1st Source Bank Joins U.S. Faster Payments Council

SRCE

1st Source Corporation

About The Company

Revenue Segmentation

EPS

Earnings Call

Income Statement

Balance Sheet

Cash Flow Statement

Analyst Estimates

Current Key Metrics

Forward P/E Ratios

SWOT Analysis

Relevant news

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