1st Source
Community banking and nationwide specialty equipment finance through one bank platform.
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Profile
Provides commercial and consumer banking, wealth advice, insurance, and specialty equipment financing through 1st Source Bank. Regional deposits fund lending across Indiana, Michigan, and Florida, while nationwide teams finance aircraft, construction equipment, and vehicle fleets within one commercial-banking segment.
Provides commercial and consumer banking, Trust and Wealth Advisory Services, insurance through 1st Source Insurance, and equipment lending through the Specialty Finance Group, all centered on 1st Source Bank. Regional banking serves businesses and households through branches across northern Indiana, southwestern Michigan, and Sarasota County, Florida. Nationwide specialty teams finance construction equipment, private and cargo aircraft, and commercial vehicle fleets; renewable-energy financing serves projects across the contiguous United States.
Combines local relationship banking and deposit gathering with specialized collateral underwriting, while managing all activities as one commercial-banking reportable segment. Revenue comes mainly from interest on loans and leases, supplemented by wealth, deposit, mortgage, insurance, and leasing fees. Results depend on borrower credit quality, deposit funding, interest rates, equipment collateral values, and federal and state banking regulation.
Company facts
Key statistics
Year to date +38.4% · Average volume (30d) 131.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 28, 2026 | Piper Sandler | Reiterate | Overweight | $88 | $100 | |
| Jul 27, 2026 | DA Davidson | Reiterate | Neutral | $74 | $87 | |
| Apr 27, 2026 | Piper Sandler | Reiterate | Overweight | $83 | $88 | |
| Jan 28, 2026 | DA Davidson | Reiterate | Neutral | $69 | $74 | |
| Jan 26, 2026 | Piper Sandler | Reiterate | Overweight | $60 | $83 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $1.71 | $1.95 | +14.0% | $114.1M | $117.1M | +2.6% | +3.20% |
| Apr 23, 2026Q1 FY26 | $1.64 | $1.63 | −0.6% | $112.0M | $113.1M | +1.0% | −1.07% |
| Jan 22, 2026Q4 FY25 | $1.62 | $1.67 | +3.1% | $110.9M | $115.4M | +4.0% | −2.03% |
| Oct 23, 2025Q3 FY25 | $1.60 | $1.71 | +6.9% | $109.3M | $110.7M | +1.2% | +3.63% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $146.4M | $150.3M | $152.8M | $150.5M | $149.1M | $156.1M | |
| Gross profit | $100.8M | $100.6M | $109.8M | $110.8M | $105.9M | $116.6M | |
| Operating income | $47.7M | $48.1M | $55.0M | $54.3M | $51.4M | $60.8M | |
| Net income | $37.5M | $37.3M | $42.3M | $41.1M | $40.0M | $47.5M | |
| Diluted EPS | $1.52 | $1.51 | $1.71 | $1.69 | $1.65 | $1.93 | |
| Gross margin | 68.8% | 66.9% | 71.8% | 73.6% | 71.0% | 74.7% | |
| Operating margin | 32.6% | 32.0% | 36.0% | 36.1% | 34.4% | 39.0% |
Fiscal years (4-quarter sums)FY21 $354.9M · FY22 $385.1M · FY23 $507.5M · FY24 $570.3M · FY25 $600.0M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.60B · Total debt $294.3M · Total assets $9.26B · Shareholders' equity $1.31B
Dividends
Raised for 40 straight years — most recently to $0.45 from $0.43 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 4, 2026 | Aug 4 | Aug 14 | $0.45 | raised from $0.43 |
| May 5, 2026 | May 5 | May 15 | $0.43 | raised from $0.40 |
| Feb 3, 2026 | Feb 3 | Feb 13 | $0.40 | |
| Nov 4, 2025 | Nov 4 | Nov 14 | $0.40 | raised from $0.38 |
| Aug 5, 2025 | Aug 5 | Aug 15 | $0.38 | |
| May 5, 2025 | May 5 | May 15 | $0.38 | raised from $0.36 |
| Feb 4, 2025 | Feb 4 | Feb 14 | $0.36 | |
| Nov 5, 2024 | Nov 5 | Nov 15 | $0.36 |
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 24.07M · Float 17.75M · 73.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| 1St Source Bank | 5.11M | 21.23% | 13F | Aug 6, 2026 |
| Christopher J. Iii Murphy · director, 10 percent owner, officer: Executive Chairman | 3.01M | 12.50% | Form 4 | Jun 15, 2026 |
| BlackRock, Inc. | 2.04M | 8.47% | 13F | Aug 7, 2026 |
| Murphy Carmen C · 10 percent owner | 1.93M | 8.04% | Form 4 | Jun 15, 2026 |
| Dimensional Fund Advisors LP | 1.47M | 6.09% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Brett A. Bauer | officer: Treasurer and CFO | −500 | $87.89 |
| Aug 15, 2018 | Melody Birmingham | director | +1 | |
| Nov 15, 2018 | Melody Birmingham | director | +1 | |
| Feb 14, 2019 | Melody Birmingham | director | +1 | |
| May 15, 2019 | Melody Birmingham | director | +1 |
Peers
- Lakeland Financial
Pure Indiana community-bank overlap through Lake City Bank
- Horizon Bancorp
Direct northern Indiana and Michigan banking overlap
- Huntington Bancshares
Midwest banking plus vehicle and equipment finance overlap
- First Merchants
Indiana-Michigan community-bank competitor at larger scale
- Old National Bancorp
Larger Midwest regional bank across commercial and wealth banking
- Wintrust Financial
Specialty-finance bank rival in equipment and leasing
- Fifth Third
Larger regional bank with commercial leasing overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| 1st Source | $86.41 | −0.01% | $2.08B | 12.4 | 11.9 | 3.4 | +8.2% |
| Lakeland Financial | $59.61 | +0.08% | $1.49B | 13.7 | 13.5 | 3.5 | +6.8% |
| Horizon Bancorp | $19.56 | +0.05% | $1.00B | — | 9.1 | 10.5 | +16.1% |
| Huntington Bancshares | $16.95 | +0.18% | $34.19B | 12.6 | 9.8 | 2.4 | +47.4% |
| First Merchants | $41.93 | −0.02% | $2.63B | 13.4 | 9.9 | 2.4 | +23.2% |
| Old National Bancorp | $25.85 | +0.02% | $9.89B | 11.4 | 9.5 | 2.5 | +12.3% |
| Wintrust Financial | $161.72 | +5.73% | $10.32B | 12.1 | 11.6 | 2.4 | +10.1% |
| Fifth Third | $54.60 | +0.14% | $49.43B | 18.6 | 11.9 | 3.3 | +45.2% |
| Median | 13.0 | 9.9 | 2.5 | +16.1% |