secwatch.observer — SEC 8-K summary
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Issuer:     1ST SOURCE CORP (SRCE)
CIK:        0000034782
Form:       8-K
Filed at:   2022-04-21T23:59:59+00:00
Accession:  0000034782-22-000044
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1st Source Q1 net income $27.39M, EPS $1.10 flat YoY; dividend raised to $0.31
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- Net income $27.39M ($1.10 diluted EPS), down 2.54% YoY but EPS flat vs $1.10 prior year.
- Cash dividend increased 3.33% to $0.31/share; payable May 13 to holders of record May 3.
- Average loans net of PPP grew $185.66M (+3.65%) YoY; net interest margin 3.17% (down 18bps YoY).
- Mortgage banking income $1.38M, down 64.70% YoY due to refinancing slowdown and low home inventory.
- Nonperforming assets ratio improved to 0.66% from 1.12% a year ago; net recoveries of $0.23M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/34782/000003478222000044/0000034782-22-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/34782/000003478222000044/source-20220421.htm
  HTML page:      https://secwatch.observer/filing/0000034782-22-000044

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