secwatch.observer — SEC 8-K summary
======================================

Issuer:     1ST SOURCE CORP (SRCE)
CIK:        0000034782
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0000034782-23-000066
Event type: earnings
Sentiment:  positive
Materiality: 0.72
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/34782/000003478223000066/0000034782-23-000066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/34782/000003478223000066/source-20230420.htm
  HTML page:      https://secwatch.observer/filing/0000034782-23-000066

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer