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.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Financial Condition
| December 31 (Dollars in thousands) | 2024 | 2023 |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $76,837 | $77,474 |
| Federal funds sold and interest bearing deposits with other banks | 47,989 | 52,194 |
| Investment securities available-for-sale (amortized cost of $1,650,684 and $1,762,357 at December 31, 2024 and 2023, respectively) | 1,536,299 | 1,622,600 |
| Other investments | 23,855 | 25,075 |
| Mortgages held for sale | 2,569 | 1,442 |
| Loans and leases, net of unearned discount: | ||
| Commercial and agricultural | 772,974 | 766,223 |
| Renewable energy | 487,266 | 399,708 |
| Auto and light truck | 948,435 | 966,912 |
| Medium and heavy duty truck | 289,623 | 311,947 |
| Aircraft | 1,123,797 | 1,078,172 |
| Construction equipment | 1,203,912 | 1,084,752 |
| Commercial real estate | 1,215,265 | 1,129,861 |
| Residential real estate and home equity | 680,071 | 637,973 |
| Consumer | 133,465 | 142,957 |
| Total loans and leases | 6,854,808 | 6,518,505 |
| Allowance for loan and lease losses | (155,540) | (147,552) |
| Net loans and leases | 6,699,268 | 6,370,953 |
| Equipment owned under operating leases, net | 11,483 | 20,366 |
| Premises and equipment, net | 53,456 | 46,159 |
| Goodwill and intangible assets | 83,897 | 83,916 |
| Accrued income and other assets | 396,285 | 427,779 |
| Total assets | $8,931,938 | $8,727,958 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-bearing demand | $1,639,101 | $1,655,728 |
| Interest-bearing deposits: | ||
| Interest-bearing demand | 2,544,839 | 2,430,833 |
| Savings | 1,256,370 | 1,213,334 |
| Time | 1,789,725 | 1,738,686 |
| Total interest-bearing deposits | 5,590,934 | 5,382,853 |
| Total deposits | 7,230,035 | 7,038,581 |
| Short-term borrowings: | ||
| Federal funds purchased and securities sold under agreements to repurchase | 72,346 | 55,809 |
| Other short-term borrowings | 176,852 | 256,550 |
| Total short-term borrowings | 249,198 | 312,359 |
| Long-term debt and mandatorily redeemable securities | 39,156 | 47,911 |
| Subordinated notes | 58,764 | 58,764 |
| Accrued expenses and other liabilities | 173,279 | 202,080 |
| Total liabilities | 7,750,432 | 7,659,695 |
| SHAREHOLDERS’ EQUITY | ||
| Preferred stock; no par valueAuthorized 10,000,000 shares; none issued or outstanding | — | — |
| Common stock; no par value Authorized 40,000,000 shares; issued 28,205,674 shares at December 31, 2024 and 2023 | 436,538 | 436,538 |
| Retained earnings | 890,937 | 789,842 |
| Cost of common stock in treasury (3,685,512 shares at December 31, 2024 and 3,771,070 shares at December 31, 2023) | (129,175) | (130,489) |
| Accumulated other comprehensive loss | (87,232) | (106,323) |
| Total shareholders’ equity | 1,111,068 | 989,568 |
| Noncontrolling interests | 70,438 | 78,695 |
| Total equity | 1,181,506 | 1,068,263 |
| Total liabilities and equity | $8,931,938 | $8,727,958 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.