1st Source Q2 net income $47.54M record; EPS $1.95, up 29% YoY; dividend raised to $0.45

1ST SOURCE CORP

Net income $47.54M, up 27.4% YoY; diluted EPS $1.95 vs $1.51 a year ago.
Cash dividend increased to $0.45/share (up $0.02 QoQ, up $0.07 YoY); payable Aug 14, record Aug 4.
Average loans and leases $7.14B, up 1.71% QoQ; average deposits $7.43B, up 3.28% QoQ.
Tax-equivalent net interest margin 4.24%, up 23 bps YoY; provision for credit losses $1.54M, down from $7.69M YoY.
Nonperforming assets ratio improved to 1.01% from 1.06% a year ago; net charge-offs $0.52M.

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