1st Source reports record annual net income $124.93M, raises dividend 6.25%

1ST SOURCE CORP

2023-FY EPS reported $5.03

Record annual net income $124.93M (+3.67% YoY); diluted EPS $5.03 (+3.93%).
Q4 net income $28.43M (-8.49% YoY); Q4 diluted EPS $1.15 vs $1.25.
Cash dividend raised 6.25% to $0.34/share; 36th consecutive year of dividend growth.
Average loans and leases up 11.45% for year; tax-equivalent NIM 3.51%, +6 bps.
Securities repositioning caused $2.88M loss; $1M charitable contribution; net recoveries 0.04%.

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 1.0

1ST SOURCE CORP reported fourth quarter 2023 results: net income $28.43 million, EPS $1.15.

Period: fourth quarter 2023
Net income: $28.43 million
EPS: $1.15
Result: reported results

Exact text from the filing

Fourth quarter net income was $28.43 million, a decrease of 8.49% compared to $31.07 million earned in the fourth quarter of 2022 after losses due to repositioning the Company's investment securities portfolio and a contribution to the 1st Source Foundation.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

1ST SOURCE CORP reported fourth quarter 2023 results: net income $28.43 million, EPS $1.15.

Period: fourth quarter 2023
Net income: $28.43 million
EPS: $1.15
Result: reported results

Exact text from the filing

Diluted net income per common share for the fourth quarter was $1.15, down 8.00% from the $1.25 earned in the fourth quarter of the previous year.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

1ST SOURCE CORP reported full year 2023 results: net income $124.93 million, EPS $5.03.

Period: full year 2023
Net income: $124.93 million
EPS: $5.03
Result: reported results

Exact text from the filing

1st Source Corporation (NASDAQ: SRCE), parent company of 1st Source Bank, today reported record net income of $124.93 million for 2023, an increase of 3.67% compared to $120.51 million earned in 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

1ST SOURCE CORP reported full year 2023 results: net income $124.93 million, EPS $5.03.

Period: full year 2023
Net income: $124.93 million
EPS: $5.03
Result: reported results

Exact text from the filing

Diluted net income per common share for the year was a record $5.03, up 3.93% from the $4.84 earned a year earlier.

View on SEC.gov

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1ST SOURCE CORP filing history →

Source: SEC EDGAR

accession 0000034782-24-000010

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