1st Source Announces Addition of Vinod M. Khilnani to Board of Directors

South Bend, IN - 1st Source Corporation announces the election of Vinod M. Khilnani to its Board of Directors. The vote was approved at the annual 1st Source shareholder meeting.


Khilnani is the Executive Chairman of the board of CTS Corporation, a designer and manufacturer of electronic components and accessories, based in Elkhart. He has extensive experience in finances, strategy, mergers and acquisitions and corporate governance. Khilnani received an MBA in Finance from the State University of New York at Albany and a BA in Business from Delhi University. Khilnani also serves on the board of Materion Corporation.


“I’m pleased to welcome Vinod Khilnani to the 1st Source Corporation Board of Directors,” said Christopher J. Murphy III, Chairman. “Throughout his career, Vinod has gained a wealth of executive and financial experience, both of which will be invaluable in his service on our Board.”


Re-elected to the 1st Source Board are Daniel B. Fitzpatrick, Chairman and CEO of Quality Dining in Mishawaka, Najeeb A. Khan, Chairman and CEO of Interlogic Outsourcing, Inc. in Elkhart and Christopher J. Murphy IV, co-owner and COO of Catharsis Productions in Chicago.


1st Source serves the northern half of Indiana and southwest Michigan and is the largest locally controlled financial institution headquartered in the area. While delivering a comprehensive range of consumer and commercial banking services through its community bank offices, 1st Source has distinguished itself with highly personalized services. 1st Source Bank also competes for business nationally by offering specialized financing services for new and used private and cargo aircraft, automobiles for leasing and rental agencies, medium and heavy duty trucks, construction and environmental equipment.


The Corporation includes 76 community banking centers in 17 counties, 9 trust and wealth management locations, 9 1st Source Insurance offices, as well as 22 specialty finance locations nationwide. Celebrating 150 years, 1st Source has a history dating back to 1863.  The Bank has a tradition of providing superior service to clients while playing a leadership role in the continued development of the communities it serves.


1st Source may be accessed on its home page at “www.1stsource.com.” Its common stock is traded on the NASDAQ Global Select Market under "SRCE" and appears in the National Market System tables in many daily newspapers under the code name "1st Src".


Media contact: Angie Dvorak, (574) 235-2000