---
schema_version: "secwatch.filing_event.v1"
accession: "0000034782-24-000010"
form_type: "8-K"
ticker: "SRCE"
cik: "0000034782"
company_name: "1ST SOURCE CORP"
filed_at: "2024-01-18T23:59:59+00:00"
generated_at: "2026-06-06T22:10:28.052315+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0000034782-24-000010
- form_type: 8-K
- ticker: SRCE
- cik: 0000034782
- company_name: 1ST SOURCE CORP
- filed_at: 2024-01-18T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/34782/000003478224000010/0000034782-24-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/34782/000003478224000010/source-20240118.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000034782-24-000010
- JSON: https://secwatch.observer/filing/0000034782-24-000010.json
- Plain text: https://secwatch.observer/filing/0000034782-24-000010.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/34782/000003478224000010/0000034782-24-000010-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/34782/000003478224000010/0000034782-24-000010-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/34782/000003478224000010/0000034782-24-000010-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/34782/000003478224000010/0000034782-24-000010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.