1st Source Corporation · South Bend, IN United States ·(NASDAQ (GS): SRCE)
Company Description
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This link will open in a new window Need a bank? Don't give it a 2nd thought. Contact 1st Source Corporation, parent of 1st Source Bank, which provides commercial and consumer banking services through more than 75 branches in northern Indiana and southwestern Michigan. The bank offers deposit accounts; business, agricultural, and consumer loans; residential and commercial mortgages; credit cards; and trust services. Its specialty finance group provides financing for aircraft, automobile fleets, trucks, and construction and environmental equipment through about 25 offices nationwide; such loans account for approximately half of 1st Source's portfolio. Subsidiaries offer insurance and investment advisory services. To read the full description, subscribe now.
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Key 1st Source Corporation Financials
| Company Type | Public - NASDAQ (GS): SRCE Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $216.2 |
| 2008 Employees | 1,280 |
1st Source Corporation Executives
19 executives listed for 1st Source Corporation's South Bend, IN location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO; Chairman and CEO, 1st Source Bank | Christopher Murphy | Network |
| EVP and Director; President and COO, 1st Source Bank | Wellington Jones | Network |
| SVP, CFO, and Treasurer, 1st Source Corporation and 1st Source Bank | Larry Lentych | Network |
Competition
Competitive Landscape for 1st Source Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top 1st Source Corporation Competitors
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