secwatch.observer — SEC 8-K summary
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Issuer:     1ST SOURCE CORP (SRCE)
CIK:        0000034782
Form:       8-K
Filed at:   2025-01-23T23:59:59+00:00
Accession:  0000034782-25-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1st Source Corp reports record annual net income $132.62M, Q4 EPS $1.27; raises dividend 5.88%
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- 2024 net income record $132.62M (+6.16% YoY); diluted EPS $5.26 (record); Q4 net income $31.44M (+10.58% YoY).
- Quarterly cash dividend raised 5.88% to $0.36/share; 37th consecutive year of dividend growth.
- Net interest margin (tax-equivalent) expanded to 3.64% for 2024, up 13 bps YoY; Q4 margin 3.78%.
- End-of-period loans/leases $6.85B (+5.16% YoY); deposits $6.73B (+5.06% YoY).
- Net charge-offs 0.09% of avg loans vs net recoveries of 0.04% in 2023; $3.9M pre-tax loss on securities repositioning.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/34782/000003478225000003/0000034782-25-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/34782/000003478225000003/source-20250123.htm
  HTML page:      https://secwatch.observer/filing/0000034782-25-000003

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