1st Source Bank

100 North Michigan Street
South Bend, IN 46601


2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 9087
Date Established 1922
Assets $6.38 billion
Loans $4.83 billion
Deposits $5.12 billion
Capital $0.76 billion

1st Source Bank is an FDIC insured institution located in South Bend, IN. It was founded in 1922 and has approximately $6.38 billion in assets. Customers can open an account at one of its 88 branches.

For a more detailed analysis of 1st Source Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - September 16, 2019

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
3 Mo CD
0.05% $2,500 - Learn MoreShow Less
6 Mo CD
0.10% $2,500 - Learn MoreShow Less
12 Mo CD
0.15% $500 - Learn MoreShow Less
18 Mo CD
0.17% $500 - Learn MoreShow Less
24 Mo CD
0.22% $500 - Learn MoreShow Less
30 Mo CD
0.22% $500 - Learn MoreShow Less
36 Mo CD
0.50% $500 - Learn MoreShow Less
48 Mo CD
1.00% $500 - Learn MoreShow Less
60 Mo CD
1.25% $500 - Learn MoreShow Less

Fixed IRA
0.15% $500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.04% $25 - Learn MoreShow Less

Loan Rates - September 16, 2019

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for 1st Source Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Connecticut 30 Year Fixed Mortgage Rates 2019

Lender APR Rate (%) Points Fees Monthly
Learn More
NMLS ID: 2890
License#: 13256
3.751% 3.750% 0.00 $25 $1,158 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info

Note to 1st Source Bank
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Financial Details

1st Source Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of 1st Source Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
1st Source Bank U.S. Bank Average
1.81% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2019, 1st Source Bank had $15,196,000 in non-current loans and $417,000 in owned real estate. To cover these potential losses it had $762,071,000 in equity and $101,852,000 in loans loss reserves. That gives it a Texas Ratio of 1.81%.

Return on Equity
1st Source Bank U.S. Bank Average
12.42% 9.47%

1st Source Bank has a Return on Equity of 12.42% versus the BestCashCow average of 9.47%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

1st Source Bank U.S. Bank Average
11.95% 12.49%

1st Source Bank has a Capitalization of 11.95% versus the BestCashCow average of 12.49. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

1st Source Bank Balance Sheet Analysis

As of March 31, 2019, 1st Source Bank had assets of $6,375,094,000, loans of $4,833,545,000, and deposits of $5,124,593,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2019
Cash & Balances due from depository institutions $0.07 billion
Interest-bearing balances $0.01 billion
Total securities $1.00 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $4.83 billion
Loan loss allowance $0.10 billion
Trading account assets $0.01 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.09 billion
All other assets $0.31 billion
     Total Assets $5.61 billion
Total deposits $5.12 billion
      Interest-bearing deposits $3.98 billion
      Deposits held in domestic offices $5.12 billion
      % insured (estimated) 59.73%
Federal funds purchased and repurchase agreements $0.25 billion
Trading liabilities $0.01 billion
Other borrowed funds $0.16 billion
Subordinated debt $0.00 billion
All other liabilities $0.07 billion
      Total Liabilities $5.61 billion
      Shareholders’ Equity $0.76 billion

Summary Income Statement

March 31, 2019
Total Interest Income $0.07 billion
Total Interest Expense $0.01 billion
Net interest income $0.06 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.03 billion
Total non interest expense $0.05 billion
Pre-tax Net Operating Income $0.03 billion

Bank Loan Profile?

The top three loan types in 1st Source Bank’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and 1-4 Family Residential Loans.

Compared to other banks in Indiana, 1st Source Bank has a significantly higher percent of Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 11.23
Credit Card Loans 0.00
Consumer Auto Loans 1.14
Small Business Loans 4.00
Construction and Development Loans 2.77
Commercial Real Estate 13.79
Commercial and Industrial Loans 63.23
Farm Loans 0.95

Frequently Asked Questions About 1st Source Bank

Branches and Savings

Is 1st Source Bank FDIC insured?

Yes. It is covered under FDIC Certificate #9087.

Why does 1st Source Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are 1st Source Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is 1st Source Bank a commercial bank?


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Does 1st Source Bank offer mortgages?

Compare mortgage rates here.

Does 1st Source Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does 1st Source Bank offer personal loans?

Compare personal loan rates here.

Does 1st Source Bank offer student loans?

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Background on The Bank

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