South Bend, IN – 1st Source Corporation announces that it has been named to the KBW, Inc. Bank Honor Roll of superior performers. 1st Source is one of 45 U.S. banks to be named to this esteemed list.
“We are pleased to receive this recognition of our strong financial performance and return to this prestigious list as it validates our actions in avoiding the recent consumer and commercial mortgage melt down by staying true to our values of straight talk and sound advice, keeping our clients’ best interests in mind,” said Christopher J. Murphy III, Chairman of
1st Source. “Our commitment as a community bank to exceptional client service, pristine credit quality and rigorous cost control drives our decision making and has produced good financial results.”
In a news release, KBW said the Bank Honor Roll is a way for it to “acknowledge companies that have managed to successfully navigate a variety of obstacles as they have arisen, despite difficult conditions in what remains a growth-challenged environment.”
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.
- 2011 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.
In terms of stock price performance, KBW reported that Bank Honor Roll companies significantly outperformed both the banking industry and the overall stock market during the five-year period between 2006 and 2011.
1st Source Corporation, parent company of 1st Source Bank, is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 75 banking centers, eight Trust and Wealth Management locations, and eight 1st Source Insurance offices in 18 Indiana and Michigan counties, and 23 1st Source Bank Specialty Finance locations nationwide.
1st Source’s assets totaled $4.37 billion as of December 31, 2011. 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.” Since 1863, 1st Source has been committed to the success of the communities it serves. For more information, visit www.1stsource.com
KBW, Inc. operates in the U.S., Europe and Asia through its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and Keefe, Bruyette & Woods Asia Limited. Celebrating its 50th anniversary, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking, real estate and specialty finance sectors. Founded in 1962, the firm maintains industry-leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities and debt securities of financial services companies.
Media Contact: Angie Dvorak, (574) 235-2000