1ST SOURCE CORP
For the period ended Dec 31, 2024. Filed Feb 18, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 18, 2025
SRCE$87.85-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flow
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31 (Dollars in thousands) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Operating activities: | |||
| Net income | $132,618 | $124,934 | $120,532 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 12,466 | 5,866 | 13,245 |
| Depreciation of premises and equipment | 4,457 | 4,452 | 4,596 |
| Depreciation of equipment owned and leased to others | 4,073 | 7,093 | 10,023 |
| Stock-based compensation | 5,655 | 4,891 | 3,587 |
| Amortization of investment securities premiums and accretion of discounts, net | 1,709 | 3,939 | 3,951 |
| Amortization of mortgage servicing rights | 781 | 845 | 1,287 |
| Amortization of right of use assets | 3,050 | 3,073 | 3,181 |
| Deferred income taxes | 2,432 | (9,462) | (9,461) |
| Losses on investment securities available-for-sale | 3,889 | 2,926 | 184 |
| Originations of loans held for sale, net of principal collected | (62,002) | (43,665) | (86,185) |
| Proceeds from the sales of loans held for sale | 61,781 | 47,060 | 97,166 |
| Net gains on sale of loans held for sale | (906) | (923) | (1,611) |
| Net gains on sale of other real estate and repossessions | (214) | (123) | (410) |
| Change in interest receivable | (2,558) | (5,485) | (6,987) |
| Change in interest payable | 6,974 | 23,521 | 4,115 |
| Change in other assets | (4,164) | 4,089 | 413 |
| Change in other liabilities | 23,627 | 17,864 | 21,910 |
| Other | 185 | (2,959) | (4,006) |
| Net change in operating activities | 193,853 | 187,936 | 175,530 |
| Investing activities: | |||
| Proceeds from sales of investment securities available-for-sale | 62,616 | 102,437 | 23,795 |
| Proceeds from maturities and paydowns of investment securities available-for-sale | 368,190 | 145,006 | 206,426 |
| Purchases of investment securities available-for-sale | (324,731) | (47,494) | (327,496) |
| Net change in partnership investments | (34,404) | (51,121) | (18,292) |
| Net change in other investments | 1,220 | 218 | 1,896 |
| Loans sold or participated to others | 119,678 | 49,603 | 57,473 |
| Proceeds from principal payments on direct finance leases | 68,806 | 71,044 | 58,654 |
| Net change in loans and leases | (534,763) | (628,268) | (784,355) |
| Net change in equipment owned under operating leases | 4,810 | 4,241 | 6,710 |
| Purchases of premises and equipment | (12,367) | (5,980) | (2,380) |
| Proceeds from disposal of premises and equipment | 613 | 142 | 49 |
| Purchases of bank owned life insurance policies | — | — | (10,000) |
| Proceeds from sales of other real estate and repossessions | 3,727 | 1,886 | 2,648 |
| Net change in investing activities | (276,605) | (358,286) | (784,872) |
| Financing activities: | |||
| Net change in demand deposits and savings accounts | 140,415 | (487,911) | (7,122) |
| Net change in time deposits | 51,039 | 598,227 | 256,322 |
| Net change in short-term borrowings | (63,161) | 96,830 | 15,502 |
| Payments on long-term debt | (12,630) | (3,450) | (25,530) |
| Stock issued under stock purchase plans | 153 | 78 | 252 |
| Acquisition of treasury stock | (178) | (12,469) | (6,836) |
| Net (distributions to) contributions from noncontrolling interests | (2,332) | 18,990 | 6,466 |
| Cash dividends paid on common stock | (35,396) | (33,074) | (32,102) |
| Net change in financing activities | 77,910 | 177,221 | 206,952 |
| Net change in cash and cash equivalents | (4,842) | 6,871 | (402,390) |
| Cash and cash equivalents, beginning of year | 129,668 | 122,797 | 525,187 |
| Cash and cash equivalents, end of year | $124,826 | $129,668 | $122,797 |
| Supplemental Information: | |||
| Non-cash transactions: | |||
| Loans transferred to other real estate and repossessions | $3,452 | $2,038 | $1,811 |
| Common stock matching contribution to Employee Stock Ownership and Profit Sharing Plan | 1,153 | 1,753 | 683 |
| Right of use assets obtained in exchange for lease obligation | 2,723 | 3,852 | 2,027 |
| Liquidation of noncontrolling interests | 5,920 | — | — |
| Purchases of mandatorily redeemable securities with common stock | 739 | — | — |
| Cash paid for: | |||
| Interest | $176,227 | $114,739 | $26,233 |
| Income taxes | 11,281 | 17,799 | 23,258 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.