South Bend, IN – 1st Source Bank has again been named to Bank Director Magazine’s ‘Nifty Fifty’ list of high performing banks. 1st Source ranks #43 on the list of the top rated banks in capital adjusted profitability.
“We are pleased to again be recognized in Bank Director Magazine’s ‘Nifty Fifty’ list of high performing banks,” said Christopher J. Murphy III, Chairman and CEO of 1st Source. “This recognition reflects our commitment to our clients and shareholders. Because of our strong balance sheet, we can more easily weather financial storms, providing consistency and stability for our clients. As we celebrate our 150th year, we remain focused on the basics that got us here - to be distinctively convenient, provide straight talk and sound advice to our clients, and always keeping our clients’ best interests in mind. We appreciate the recognition.”
In compiling the ‘Nifty Fifty’ list, Bank Director Magazine and Sandler O’Neill + Partners measured all banks and thrifts that publicly trade on the NYSE, NASDAQ, or NYSE Amex stock exchanges. The metrics of core return on tangible common equity and the ratio of tangible common equity to tangible assets were used to determine the rankings. Data was used from eight consecutive quarters through June 2013.
1st Source Corporation, parent company of 1st Source Bank, has assets of $4.72 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 77 banking centers in 17 counties, 22 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Management locations and eight 1st Source Insurance offices.
1st Source 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.” For 150 years, 1st Source has been committed to the success of the communities it serves.
For more information, visit www.1stsource.com
Media contact: Angie Dvorak, (574) 235-2000