1st Source Q2 net income $36.79M record, EPS $1.49, dividend raised to $0.36

1ST SOURCE CORP

2024-Q2 EPS reported $2.68

Net income of $36.79M up 13.44% YoY; diluted EPS $1.49 vs $1.30 a year ago.
Quarterly cash dividend increased 12.5% to $0.36 per share; payable Aug 15, 2024.
Average loans and leases grew $102.14M (1.57% QoQ); average deposits up $172.57M (2.46% QoQ).
Net interest margin (tax-equivalent) 3.59%, up 5 bps from prior quarter and 11 bps YoY.
Net recoveries of $1.99M versus net charge-offs of $6.12M in prior quarter.

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