South Bend, IN –1st Source Corporation announces the election of three new members to its Board of Directors. The vote was approved today at the annual 1st Source shareholder meeting. New directors Allison Nickle Egidi, Najeeb A. Khan and Christopher J. Murphy IV will replace retiring directors Terry L. Gerber and Dane A. Miller.
“The new directors have diverse backgrounds and experiences. A business systems entrepreneur, a creative development entrepreneur and a finance specialist, they will ensure a broad range of skills and perspectives for the 1st Source Board,” said Christopher J. Murphy III, Chairman of 1st Source. “They share a commitment to corporate governance and an adherence to the values upon which 1st Source was founded. And, as great grandchildren of E.M. Morris, First Bank Chairman in the 1930’s, Egidi and Murphy will carry on the 80 year tradition of family commitment to the clients, colleagues, and shareholders of 1st Source.”
Allison Nickle Egidi is a Vice President in BMO Capital Markets’ U.S. Securitization Group in Chicago, IL. She has experience across a wide range of asset classes including middle market loans, equipment finance and fleet leasing. Egidi graduated from the University of Virginia with a B.A. in Economics and American Politics. She serves on the Development Board at Comer Children’s Hospital at the University of Chicago, the Professional Board at PAWS, Inc. and is a member of the Junior League of Chicago.
Najeeb A. Khan is Chairman and CEO of Interlogic Outsourcing, Inc., a national and award winning provider of payroll and employer services in Elkhart, IN. Khan holds two undergraduate degrees, a B.S. in Math and Statistics from the University of Karachi and a degree in Computer Science and Math from Grand Valley State University. He also attended graduate school at Indiana University South Bend. Khan is active in the community as a member of the Finance Committee of several organizations, including Memorial Health Foundation, Memorial Health Systems, the Community Foundation of St. Joseph County, WNIT Public Television and Holy Cross College.
Christopher J. Murphy IV is co-owner, COO and Artistic Director of Catharsis Productions in Chicago, IL. Catharsis provides training and behavioral programming to colleges and universities in the United States and to the U.S. military around the world. Murphy graduated from the University of Notre Dame with a degree in Liberal Studies and Communication and Theatre. He is active with the West Suburban Montessori School, is co-chair of the Illinois State sub-committee of Men Endorsing Non-Violence and is a consultant with Lambda Chi Alpha Fraternity.
Re-elected to the 1st Source Board are Lawrence Hiler, Chairman of Hiler Industries in LaPorte, IN; Rex Martin, Chairman and CEO of NIBCO, Inc. based in Elkhart, IN; Christopher J. Murphy III, Chairman and CEO of 1st Source Corporation and 1st Source Bank; and Timothy K. Ozark, Chairman of Aim Financial Corporation, based 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, 22 specialty finance locations nationwide, 8 trust and wealth management locations, and 7 1st Source Insurance offices. With a history dating back to 1863, 1st Source 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".
Reporter Contact: Angie Dvorak, (574) 235-2000