secwatch.observer — SEC 8-K summary
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Issuer:     1ST SOURCE CORP (SRCE)
CIK:        0000034782
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0000034782-24-000052
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1st Source Q1 net income $29.5M, down 5.4% YoY; dividend raised 6.25% to $0.34
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- Net income $29.46M ($1.19 diluted EPS) vs $31.12M ($1.25) a year ago.
- Dividend raised 6.25% to $0.34/share, payable May 15 to holders of record May 6.
- Average loans grew $116.21M (1.82%) QoQ; average deposits declined $57.56M.
- Net charge-offs of $6.12M (0.38% of avg loans), up from net recoveries prior quarter.
- Tax-equivalent NIM 3.54%, up 3 bps QoQ but down 6 bps YoY.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/34782/000003478224000052/0000034782-24-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/34782/000003478224000052/source-20240425.htm
  HTML page:      https://secwatch.observer/filing/0000034782-24-000052

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