1st Source Corporation announced that it has been named to the Keefe, Bruyette & Woods (KBW) Bank Honor Roll of superior performers, one of only 31 banking institutions achieving admission this year. This is the third year in a row that 1st Source has made the list. The list acknowledges those institutions that achieved positive earnings per share growth trends over the last decade, regardless of the economic environment.
“We believe it is fair to say that the past decade has been one of the most challenging in the history of U.S. banking,” noted Fred Cannon, KBW Director of Research. “The Bank Honor Roll is a way for KBW to acknowledge companies that have managed to excel during these tumultuous times and position their companies for further growth in what remains a rate-challenged environment.”
Christopher J. Murphy III, Chairman of 1st Source Bank, commented, “We’re thankful for this recognition of our strong financial performance and for being named to this prestigious list for the third consecutive year. As KBW mentioned, it’s been a tough 10 years for the economy. To succeed, we have remained focused on our goals - delivering exceptional client service, offering straight talk and sound advice while always keeping our clients’ best interests in mind, providing distinctive convenience, managing costs tightly, and operating with pristine credit quality. For the long term, the better we serve our clients, the better we will perform for our shareholders.”
KBW Bank Honor Roll winners are publicly traded banking companies with more than $500 million in total assets that meet the following three criteria:
- No annual loss reported in net income per share before extraordinary items over the past 10 years.
- 2013 annual reported net income per share before extraordinary items must have been equal to or greater than peak net income per share over the past 10 years.
- Consecutive increases in net income per share before extraordinary items since 2009.