Latest news with #HannahNicholsNicholsHa
Globe and Mail
03-04-2025
- Business
- Globe and Mail
1st Source Again Ranked in Top 50 Community Banks by S&P Global
S&P Global Market Intelligence's Top 50 Community Banks $3B-$10B South Bend, Indiana--(Newsfile Corp. - April 3, 2025) - 1st Source Corporation (NASDAQ: SRCE) is pleased to announce that they ranked #25 on S&P Global Market Intelligence's Top 50 Community Banks list of institutions with $3B-$10B in assets. This is the second year in a row that they've made the list of best-performing community banks. When determining the list, S&P put a special emphasis on the strength and risk profile of each financial institution's balance sheets while also considering their returns, growth, and funding. To view an enhanced version of this graphic, please visit: "1st Source is very pleased to be included in this list for a second year in a row," said Andrea Short, President of 1st Source Corporation, and President and CEO of 1st Source Bank. "It highlights our focus on quality earnings, investing for the future, and building a strong balance sheet. Our colleagues are committed to serving our clients well for the long term. I am proud of the way our colleagues consistently deliver on our mission to help our clients achieve security, build wealth, and realize their dreams, while also supporting our shareholders and each other in the process." S&P Global Market Intelligence rankings were launched in 2011 to assess the performance of banks and credit unions. According to their ranking analysis, they "calculated scores for each company based on eight metrics: pretax return on average assets, net interest margin, efficiency ratio, 3-year average operating revenue change, 8-quarter average deposit change, nonperforming assets and loans 90 days or more past due as a percentage of total assets, net charge-offs-to-average loans and leases ratio, and adjusted tangible common equity-to-tangible assets ratio weighted at 25%, 10%, 10%, 10%, 10%, 10%, 10% and 15%, respectively. Each company's standard deviation from the industry mean was calculated for every ranking metric, weighted, then combined to derive a performance score. To help normalize the data and mitigate the impact of outliers, caps and floors were applied for each metric." A full list of the rankings can be found here: S&P Global Market Intelligence 1st Source Corporation, parent company of 1st Source Bank, has assets of $8.9 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 77 banking centers, 18 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Advisory Services locations, 10 1st Source Insurance offices, and three loan production offices. For more than 160 years, 1st Source has been committed to our mission of helping our clients achieve security, build wealth and realize their dreams. For more information, visit Contact: Hannah Nichols NicholsHa@ 574-235-2128
Globe and Mail
27-02-2025
- Business
- Globe and Mail
1st Source Bank Named One of America's Best Banks by Forbes
Ranked #26 in Top 100 U.S. Banks South Bend, Indiana--(Newsfile Corp. - February 27, 2025) - 1st Source Bank (NASDAQ: SRCE) is pleased to announce that they were once again named to Forbes' America's Best Banks list, taking the 26 th spot out of 100. According to Forbes, they look at "10 metrics measuring growth, credit quality and profitability for the 12 months ending September 30, 2024, and stock performance for the 12 months ending January 10, 2025." 1st Source is one of only three banks in Indiana to make this year's list. "We are honored to receive recognition as one of America's Best Banks for the second year in a row," said Andrea Short, President and CEO of 1st Source Bank and President of 1st Source Corporation. "To rank number 26 on such a prestigious list of competitors is a testament to our colleagues' commitment to living out our mission to help our clients achieve security, build wealth, and realize their dreams. I am proud of our long history of serving our clients well while reinforcing our stability as a financial institution in the areas of growth, credit quality and performance." The 16 th annual America's Best Banks list is compiled from analyzing the 200 largest publicly traded U.S. banks and thrifts by assets. Forbes lists the 10 equally-weighted financial metrics as "net interest margin; return on average tangible common equity; return on average assets; CET1 ratio; efficiency ratio; nonperforming assets as a percentage of total assets; reserves as a percentage of total assets; risk-based capital ratio; operating revenue growth; and net charge-offs as a percentage of total loans." While S&P Global Market Intelligence provides the data, the rankings are done separately by Forbes. The entire list can be viewed here: Forbes 2025 America's Best Banks. America's Best Banks To view an enhanced version of this graphic, please visit: 1st Source Corporation, parent company of 1st Source Bank, has assets of $8.9 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 77 banking centers, 18 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Advisory Services locations, 10 1st Source Insurance offices, and three loan production offices. For more than 160 years, 1st Source has been committed to our mission of helping our clients achieve security, build wealth and realize their dreams. For more information, visit ### Contact: Hannah Nichols NicholsHa@ 574-235-2128
