1st Source Q1 net income $31.12M ($1.25 EPS), up 13.6% YoY; dividend raised 3.2%

1ST SOURCE CORP

2023-Q1 EPS reported $1.25

Diluted EPS of $1.25 vs $1.10 in Q1 2022, up 13.6%.
Average loans grew $195.6M (3.35%) from Q4 2022; deposits up $110.5M (1.64%).
Tax-equivalent net interest margin 3.60%, down 9 bps QoQ but up 42 bps YoY.
Cash dividend increased to $0.32/share, payable May 12 to holders of record May 2.
NPAs improved to 0.30% of loans vs 0.45% at Dec 31, 2022; net recoveries of $0.19M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

1ST SOURCE CORP reported the first quarter of 2023 results: net income $31.12 million, EPS $1.25.

Period: the first quarter of 2023
Net income: $31.12 million
EPS: $1.25
Result: reported results

Exact text from the filing

Net income was $31.12 million for the quarter, up $3.73 million or 13.63% from the first quarter of 2022. Diluted net income per common share was $1.25, up $0.15 or 13.64% from the prior year’s first quarter of $1.10.

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Source: SEC EDGAR

accession 0000034782-23-000066

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