1st Source Corporation (SRCE) Financial Statements (2024 and earlier)

Company Profile

Business Address 100 NORTH MICHIGAN STREET
SOUTH BEND, IN 46601
State of Incorp. IN
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments    83,36599,07978,033
Cash and cash equivalents    83,36599,07978,033
Financing receivable, accrued interest, after allowance for credit loss18,750  
Total current assets:18,750  83,36599,07978,033
Noncurrent Assets
Operating lease, right-of-use asset 20,91622,07123,82524,147
Property, plant and equipment 44,77347,03849,37352,21952,13954,612
Intangible assets, net (including goodwill), including:83,90783,92683,94883,97183,99883,742
Goodwill 83,87083,87083,87083,87083,87083,680
Intangible assets, net (excluding goodwill) 40608010013060
Other undisclosed intangible assets, net (including goodwill)(3)(4)(2)1(2)2
Total noncurrent assets:149,596153,035157,146160,337136,137138,354
Other undisclosed assets8,171,0707,930,3147,142,8756,379,0746,058,5295,670,897
TOTAL ASSETS:8,339,4168,096,2897,316,4116,622,7766,293,7455,887,284
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt215,529200,027150,641145,893199,344214,595
Total current liabilities:215,529200,027150,641145,893199,344214,595
Noncurrent Liabilities
Other undisclosed liabilities7,200,1216,926,7986,235,1005,628,2475,330,8114,954,152
Total liabilities:7,415,6507,126,8256,385,7415,774,1405,530,1555,168,747
Equity
Equity, attributable to parent864,068916,255886,845828,277762,082718,537
Common stock436,538436,538436,538436,538436,538436,538
Treasury stock, value(119,642)(114,209)(82,240)(76,702)(62,760)(54,628)
Accumulated other comprehensive income (loss)(147,690)(9,861)18,3715,172(10,676)(3,332)
Retained earnings694,862603,787514,176463,269398,980339,959
Equity, attributable to noncontrolling interest59,69853,20943,82520,3591,508 
Total equity:923,766969,464930,670848,636763,590718,537
TOTAL LIABILITIES AND EQUITY:8,339,4168,096,2897,316,4116,622,7766,293,7455,887,284

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues300,335261,339270,335282,877257,316291,008
Net investment income293,816254,772263,031282,877257,316212,385
Financial services revenue48,242
Cost of revenue(1,287)(2,117)(2,361)(1,312)(26,248)(25,215)
Cost of goods and services sold     (26,248)(25,215)
Amortization of mortgage servicing rights (msrs)(1,287)(2,117)(2,361)(1,312)  
Gross profit:299,048259,222267,974281,565231,068265,793
Operating expenses(33,103)(10,524)(10,276)(10,528)(10,041)(97,536)
Other operating income, net
(Noninterest Income, Other Operating Income)
15,04212,56011,949  10,947
Operating income:280,987261,258269,647271,037221,027179,204
Nonoperating income
(Investment Income, Nonoperating)
      7,425
Interest and debt expense(30,347)(18,134)(37,211)(59,011)(43,410)(26,754)
Other undisclosed loss from continuing operations before equity method investments, income taxes(93,853)(88,239)(126,095)(91,872)(72,590)(58,515)
Income from continuing operations before equity method investments, income taxes:156,787154,885106,341120,154105,027101,360
Other undisclosed loss from continuing operations before income taxes      
Income from continuing operations before income taxes:156,787154,885106,341120,154105,027101,360
Income tax expense(36,255)(36,328)(24,880)(28,139)(22,613)(33,309)
Income from continuing operations:120,532118,55781,46192,01582,41468,051
Income before gain (loss) on sale of properties:118,55781,46192,01582,41468,051
Other undisclosed net loss      (520)
Net income:120,532118,55781,46192,01582,41467,531
Net loss attributable to noncontrolling interest(23)(23)(24)(55)  
Other undisclosed net income attributable to parent      520
Net income available to common stockholders, diluted:120,509118,53481,43791,96082,41468,051

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:120,532118,55781,46192,01582,41467,531
Other comprehensive income (loss)(137,829)(28,232)13,19915,848(6,626) 
Comprehensive income (loss):(17,297)90,32594,660107,86375,78867,531
Comprehensive loss, net of tax, attributable to noncontrolling interest(23)(23)(24)(55)  
Other undisclosed comprehensive loss, net of tax, attributable to parent      (4,156)
Comprehensive income (loss), net of tax, attributable to parent:(17,320)90,30294,636107,80875,78863,375

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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