1st Source Corporation (SRCE)

1st Source Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	444.61	387.3	263.89	235.03	242.77	258.35
Interest Income on Investments	30.83	29.61	29.92	19.74	20.26	24.53
Total Interest Income	475.44	416.91	293.82	254.77	263.03	282.88
Interest Paid on Deposits	165.25	123.16	25.23	12.28	30.46	50.5
Interest Paid on Borrowings	17.41	15.1	5.12	5.86	6.75	8.52
Total Interest Expense	182.66	138.26	30.35	18.13	37.21	59.01
Net Interest Income	292.78	278.65	263.47	236.64	225.82	223.87
Net Interest Income Growth (YoY)	5.03%	5.76%	11.34%	4.79%	0.87%	4.66%
Trust Income	25.8	23.71	23.11	23.78	21.11	20.69
Mortgage Banking Activities	4.04	3.47	4.12	11.01	16.49	4.7
Gain (Loss) on Sale of Assets	-	-	-	-	-	1.25
Gain (Loss) on Sale of Investments	-2.88	-2.93	1.69	-0.68	0.28	-
Other Non-Interest Income	48.05	53.62	50.2	54.58	57.34	63.77
Total Non-Interest Income	87.9	90.62	91.26	99.28	104.7	101.42
Non-Interest Income Growth (YoY)	-6.32%	-0.70%	-8.08%	-5.18%	3.23%	4.37%
Revenues Before Loan Losses	380.68	369.27	354.73	335.92	330.52	325.29
Provision for Loan Losses	11.67	5.87	13.25	-4.3	36	15.83
Revenue	369.01	363.4	341.49	340.22	294.52	309.45
Revenue Growth (YoY)	1.57%	6.42%	0.37%	15.52%	-4.83%	6.11%
Salaries and Employee Benefits	114.57	110.72	101.52	101.59	98.26	94.33
Occupancy Expenses	8.1	7.35	7.18	7.02	6.8	7
Federal Deposit Insurance	6.33	5.93	4.01	2.68	2.61	1.8
Selling, General & Administrative	61.38	60.29	58.03	63.95	63.14	75.95
Other Non-Interest Expense	11.11	17.43	14.29	10.9	16.56	7.79
Total Non-Interest Expense	201.49	201.72	185.02	186.15	187.37	190.26
EBT Excluding Unusual Items	167.52	161.68	156.47	154.07	107.15	119.19
Asset Writedown	-	-	-0.06	0.81	-0.81	-
Other Unusual Items	-	-	0.38	-	-	0.96
Pretax Income	167.52	161.68	156.79	154.89	106.34	120.15
Income Tax Expense	37.92	36.75	36.26	36.33	24.88	28.14
Earnings From Continuing Operations	129.6	124.93	120.53	118.56	81.46	92.02
Minority Interest in Earnings	0.02	-0.01	-0.02	-0.02	-0.02	-0.06
Net Income	129.61	124.93	120.51	118.53	81.44	91.96
Preferred Dividends & Other Adjustments	1.23	1.19	1	0.93	0.53	0.52
Net Income to Common	128.38	123.74	119.51	117.61	80.9	91.44
Net Income Growth	1.61%	3.67%	1.67%	45.55%	-11.44%	11.58%
Basic Shares Outstanding	24	25	25	25	26	26
Diluted Shares Outstanding	24	25	25	25	26	26
Shares Change (YoY)	-0.80%	-0.29%	-1.40%	-1.91%	-0.29%	-1.30%
EPS (Basic)	5.25	5.03	4.84	4.70	3.17	3.57
EPS (Diluted)	5.25	5.03	4.84	4.70	3.17	3.57
EPS Growth	2.45%	3.86%	3.04%	48.19%	-11.22%	13.10%
Dividend Per Share	1.400	1.320	1.270	1.230	1.130	1.120
Dividend Growth	7.69%	3.94%	3.25%	8.85%	0.89%	10.89%
Effective Tax Rate	22.64%	22.73%	23.12%	23.45%	23.40%	23.42%

Source: S&P Capital IQ. Banks template. Financial Sources.