1st Source Bank Recognized with A+ Rating
DepositAccounts.com, a subsidiary of LendingTree, has released its first quarter 2020 analysis of the healthiest banks in America, and 1st Source Bank has received an A+ rating. According to DepositAccounts.com, roughly 11% of banks and credit unions in the country receive an A+ rating.
“At 1st Source Bank, our focus is always on the long-term, for the financial stability of both our organization and our clients,” states James Seitz, President of 1st Source Bank. “We’re always honored when outside sources recognize the work we do, and it’s especially gratifying at a time like this. Our mission of helping people achieve security, build wealth and realize their dreams is always our driving force, and this A+ rating is welcome validation that we are doing just that for our clients and communities.”
DepositAccounts.com evaluates the financial health of over 10,000 banks and credit unions in the United States once per quarter. To determine bank ranking and recognition, DepositAccounts.com grades each institution on a number of factors, including capitalization, deposit growth and loan-to-reserve ratios.
For an explanation of the DepositAccounts.com financial health analysis and its history, visit their evaluation page here.