1st Source Q3 net income $32.94M record; dividend raised 6.25% to $0.34

1ST SOURCE CORP

2023-Q3 EPS reported $3.87

Net income $32.94M (record) vs $32.74M YoY; diluted EPS flat at $1.32.
Cash dividend increased 6.25% to $0.34/share, payable Nov 15 to holders of record Nov 6.
Average loans and leases grew $104.73M QoQ (1.71%) and $618.17M (10.98%) YoY.
Net interest margin 3.45%, down 2 bps QoQ and 14 bps YoY on deposit rate competition.
Nonperforming assets to loans improved to 0.27% from 0.33% prior quarter; repurchased 260,887 shares for $10.29M.

item 2.02 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

1ST SOURCE CORP reported the third quarter of 2023 results: net income $32.94 million, EPS $1.32.

Period: the third quarter of 2023
Net income: $32.94 million
EPS: $1.32
Result: reported results

Exact text from the filing

1st Source Corporation Reports Record Third Quarter Results, Cash Dividend Increased

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

1ST SOURCE CORP: Amended bylaws to establish procedures for shareholder director nominations in conformity with SEC Rule 14a-19 (Universal Proxy Rule) and procedures for shareholder proposals for action at meetings (effective 2023-10-19).

Change: bylaw amendment
Effective: 2023-10-19

Exact text from the filing

The Board of Directors amended the Company’s bylaws effective October 19, 2023 to establish procedures to be followed by a shareholder seeking to nominate a director for election, in conformity with Securities and Exchange Commission Rule 14a-19 promulgated under the Securities and Exchange Act of 1934, also known as the “Universal Proxy Rule”, and procedures to be followed by a shareholder seeking to propose action for a vote at a meeting of shareholders.

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1ST SOURCE CORP filing history →

Source: SEC EDGAR

accession 0000034782-23-000135

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