South Bend, IN – 1st Source Bank has been named one of the top 1,000 banks in the world for 2013 according to rankings by The Banker magazine. 1st Source ranked #859 on the prestigious global list and #129 on the U.S. list, which recognized only 167 of the more than 7,000 banks in the U.S.
In its review of bank soundness, The Banker ranked1st Source the #38 soundest bank in the country. An analysis of capital-to-asset ratios was used in this ranking. 1st Source also ranked #132 in the U.S. based on asset size, #76 in the U.S. in pre-tax profits, #68 in the U.S. in performance rankings and #39 in the U.S. for return on assets.
According to Christopher J. Murphy III, Chairman and CEO, “I am very pleased with our ranking as one of the top banks in the world and one of the soundest in our country. Since 1863, we’ve been committed to offering outstanding client service, maintaining strong credit quality, and striving for a superior financial performance. This recognition is a result of that commitment and the hard work and dedication of my colleagues at the bank.”
Since 1970, The Banker
magazine has released its top 1,000 World Banks ranking, providing comprehensive intelligence about the health and wealth of the banking sector. For more information, visit www.thebanker.com/top1000worldbanks
1st Source Corporation, parent company of 1st Source Bank, has assets of $4.64 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 76 banking centers in 17 counties, 22 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Management locations and nine 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