1st Source Corporation ( (SRCE) ) has released its Q2 earnings. Here is a breakdown of the information 1st Source Corporation presented to its investors.
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1st Source Corporation, a financial services company headquartered in South Bend, Indiana, operates primarily in the banking sector, offering a wide range of consumer and commercial banking services, including specialized financing services for various industries.
In the second quarter of 2025, 1st Source Corporation reported a net income of $37.32 million, a slight decrease from the previous quarter but an increase compared to the same quarter last year. The company declared a cash dividend of $0.38 per common share, marking a 5.56% increase from the previous year.
Key financial highlights include a 5.25% increase in tax-equivalent net interest income from the previous quarter, reaching $85.35 million, and a 2.49% growth in average loans and leases. However, the company faced a higher provision for credit losses, which rose to $7.69 million, reflecting increased net charge-offs and nonaccrual loans.
Looking forward, 1st Source Corporation remains optimistic about its financial health, despite the economic uncertainties. The company continues to focus on maintaining a strong balance sheet and liquidity position, while also being recognized for its long-term performance and community service efforts.