1st Source Bank Mortgage Rates, Fees & Info
South Bend, INLEI: LCUAWMT4M5H8DJ8DFH49
Tax ID: 35-0309575
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Overview
1st Source Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. 1st Source Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include South Bend, Elkhart, Chicago, Fort Wayne, and Kalamazoo among others. 1st Source Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. 1st Source Bank is typically a low fee lendor.Originations
3,119Origination Dollar Volume (All Markets)
$515,945,000Employee count
1,131Awards
1st Source Bank - 2021
1st Source Bank is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
1st Source Bank's average 30 year fixed rate mortgage of loans were
3.27%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.12%.
Relative Fees
1st Source Bank's average total fees for a 30 year fixed rate
mortgage are $2,957.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1,032 | $157,550,000 | $152,665 | $2,656 | 3.32% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 376 | $60,940,000 | $162,074 | $2,714 | 3.30% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 272 | $41,680,000 | $153,235 | $2,553 | 3.37% |
| FORT WAYNE, IN (FHA|USDA|VA) | 292 | $40,710,000 | $139,418 | $2,473 | 3.36% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 37 | $29,885,000 | $807,703 | $3,346 | 3.26% |
| Warsaw, IN (FHA|USDA|VA) | 159 | $28,965,000 | $182,170 | $2,825 | 3.31% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 203 | $25,865,000 | $127,414 | $2,458 | 3.40% |
| Outside of Metro Areas | 160 | $22,990,000 | $143,688 | $2,802 | 3.33% |
| NILES, MI (FHA|USDA|VA) | 113 | $17,565,000 | $155,442 | $2,806 | 3.40% |
| Plymouth, IN (FHA|USDA|VA) | 132 | $13,780,000 | $104,394 | $2,821 | 3.36% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 71 | $11,645,000 | $164,014 | $2,528 | 3.30% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 14 | $8,480,000 | $605,714 | $7,512 | 3.38% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 10 | $7,430,000 | $743,000 | $6,610 | 3.25% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 25 | $6,575,000 | $263,000 | $2,851 | 3.19% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $4,100,000 | $1,025,000 | $6,462 | 3.19% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 7 | $3,555,000 | $507,857 | $6,329 | 3.25% |
| Huntington, IN (FHA|USDA|VA) | 53 | $3,525,000 | $66,509 | $2,459 | 3.40% |
| Kendallville, IN (FHA|USDA|VA) | 15 | $2,815,000 | $187,667 | $3,129 | 3.22% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $2,765,000 | $921,667 | $7,410 | 3.25% |
| Bluffton, IN (FHA|USDA|VA) | 31 | $2,545,000 | $82,097 | $1,985 | 3.36% |
| Angola, IN (FHA|USDA|VA) | 7 | $2,505,000 | $357,857 | $2,946 | 3.14% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $2,490,000 | $415,000 | $4,859 | 3.15% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $1,820,000 | $303,333 | $4,560 | 3.15% |
| Auburn, IN (FHA|USDA|VA) | 11 | $1,555,000 | $141,364 | $2,284 | 3.59% |
| Sturgis, MI (FHA|USDA|VA) | 11 | $1,515,000 | $137,727 | $3,959 | 3.50% |
| Traverse City, MI (FHA|USDA|VA) | 4 | $1,500,000 | $375,000 | $3,729 | 3.28% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 4 | $1,290,000 | $322,500 | $3,415 | 2.53% |
| Key West, FL (FHA|USDA|VA) | 1 | $885,000 | $885,000 | $7,477 | 3.50% |
| Wabash, IN (FHA|USDA|VA) | 8 | $790,000 | $98,750 | $2,126 | 3.66% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $5,002 | 2.69% |
| Okeechobee, FL (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $10,145 | 3.50% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $7,399 | 3.63% |
| Logansport, IN (FHA|USDA|VA) | 5 | $455,000 | $91,000 | $1,995 | 3.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 5 | $425,000 | $85,000 | $3,048 | 3.38% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $3,926 | 2.56% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,225 | 3.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,537 | 3.25% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $6,757 | 3.13% |
| MUNCIE, IN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,163 | 3.38% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,661 | 3.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,900 | 3.25% |
| Holland, MI (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $2,434 | 2.56% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,811 | 3.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,057 | 3.50% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,182 | 3.81% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,018 | 3.50% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $3,586 | 3.63% |
| Crawfordsville, IN (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,072 | 3.88% |
| KOKOMO, IN (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $2,333 | 2.67% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,976 | 3.63% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,646 | 2.75% |
| Peru, IN (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $3,372 | 3.94% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,973 | 2.50% |
| Marion, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.13% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.00% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,542 | 2.50% |
| Frankfort, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,888 | 3.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,705 | 2.00% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,445 | 2.63% |
| Decatur, IN (FHA|USDA|VA) | 3 | $65,000 | $21,667 | $0 | 3.67% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.00% |
1st Source Bank's top markets include South Bend, Elkhart, Chicago, Fort Wayne, and Kalamazoo among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 3,054 | $507,090,000 | $166,041 | $2,689 | 3.34% |
| FHA | 56 | $7,400,000 | $132,143 | $4,615 | 3.17% |
| VA | 6 | $1,020,000 | $170,000 | $4,187 | 3.21% |
| USDA | 3 | $435,000 | $145,000 | $3,874 | 3.58% |
For the 2021 period, 1st Source Bank's most frequently originated loan type of loans were Conventional, with 3,054 originations. Their 2nd most popular type is FHA, with 56 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 1,004 | $153,060,000 | $152,450 | $2,389 | 3.18% |
| Home Purchase | 641 | $181,545,000 | $283,222 | $3,201 | 3.30% |
| Cash Out Refi | 616 | $114,910,000 | $186,542 | $2,702 | 2.97% |
| Other | 432 | $41,210,000 | $95,394 | $2,610 | 3.79% |
| Home Improvement | 426 | $25,220,000 | $59,202 | $2,381 | 3.83% |
For the 2021, 1st Source Bank's most frequently cited loan purpose of loans were Refi, with 1,004 originations. The 2nd most popular reason of loans were Home Purchase, with 641 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 1,372 | $153,300,000 | $111,735 | $3,509 | 3.77% |
| 30 Year | 924 | $214,870,000 | $232,543 | $2,957 | 3.27% |
| 15 Year | 531 | $95,835,000 | $180,480 | $2,499 | 2.49% |
| 20 Year | 149 | $26,425,000 | $177,349 | $2,540 | 2.93% |
| 10 Year | 115 | $16,605,000 | $144,391 | $2,151 | 2.68% |
| 5 Year | 18 | $3,520,000 | $195,556 | $0 | 4.55% |
| 1 Year | 10 | $5,390,000 | $539,000 | $1,705 | 4.84% |
For the 2021, 1st Source Bank's most frequently cited loan length of loans were Other, with 1,372 originations. The 2nd most popular length of loans were 30 Year, with 924 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1,120 | $218,510,000 | $195,098 |
| $1k-2k | 502 | $108,920,000 | $216,972 |
| $2k-3k | 82 | $23,650,000 | $288,415 |
| $3k-4k | 52 | $17,690,000 | $340,192 |
| $5k+ | 7 | $2,685,000 | $383,571 |
$2,957 of loans were 1st Source Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,120 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,814 | $290,560,000 | $160,176 |
| 2.5-3% | 582 | $111,190,000 | $191,048 |
| <2.5% | 471 | $85,445,000 | $181,412 |
| 4-5% | 224 | $26,950,000 | $120,313 |
| 5-6% | 28 | $1,800,000 | $64,286 |
During 2021, 1st Source Bank's average interest rate of loans were 3.27%, while their most frequently originated rate bucket of loans were 3-4%, with 1,814 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 1,419 | $71,985,000 | $50,729 | $2,239 | 3.55% |
| $100k-200k | 940 | $129,490,000 | $137,755 | $2,531 | 3.14% |
| $200k-400k | 533 | $143,725,000 | $269,653 | $2,910 | 3.16% |
| $400k-600k | 143 | $69,175,000 | $483,741 | $3,820 | 3.07% |
| $600k-1MM | 56 | $44,040,000 | $786,429 | $4,819 | 3.41% |
| $1MM+ | 28 | $57,530,000 | $2,054,643 | $7,432 | 3.41% |
2021 saw 1st Source Bank place emphasis on $100,000 or less loans with 1,419 originations, totaling $71,985,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 724 | $57,060,000 | $78,812 | $2,347 | 3.30% |
| $50k-75k | 628 | $66,410,000 | $105,748 | $2,637 | 3.30% |
| $100k-150k | 468 | $74,500,000 | $159,188 | $2,683 | 3.39% |
| $75k-100k | 428 | $53,630,000 | $125,304 | $2,662 | 3.27% |
| $150k-250k | 348 | $76,770,000 | $220,603 | $3,100 | 3.35% |
| $250k+ | 345 | $133,605,000 | $387,261 | $3,727 | 3.33% |
1st Source Bank lent most frequently to those with incomes in the $50k or less range, with 724 originations. The second most popular income band? $50k-75k, with 628 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 778 | $118,830,000 | $152,738 | $2,660 | 3.26% |
| <20% | 576 | $98,360,000 | $170,764 | $2,693 | 3.19% |
| 30-36% | 515 | $73,565,000 | $142,845 | $2,748 | 3.36% |
| 37% | 99 | $13,805,000 | $139,444 | $2,844 | 3.43% |
| >60% | 95 | $24,415,000 | $257,000 | $5,848 | 3.76% |
| 50-60% | 94 | $12,110,000 | $128,830 | $3,339 | 3.72% |
| 36% | 93 | $13,225,000 | $142,204 | $2,622 | 3.35% |
| 40% | 90 | $10,960,000 | $121,778 | $2,728 | 3.35% |
| 41% | 88 | $14,420,000 | $163,864 | $2,802 | 3.28% |
| 44% | 86 | $10,700,000 | $124,419 | $2,810 | 3.41% |
| 42% | 84 | $12,520,000 | $149,048 | $2,766 | 3.44% |
| 43% | 81 | $12,165,000 | $150,185 | $2,681 | 3.23% |
| 38% | 77 | $10,885,000 | $141,364 | $2,493 | 3.25% |
| 39% | 75 | $12,855,000 | $171,400 | $3,061 | 3.32% |
| 47% | 54 | $8,980,000 | $166,296 | $2,715 | 3.31% |
| 48% | 54 | $7,730,000 | $143,148 | $3,203 | 3.35% |
| 46% | 49 | $8,315,000 | $169,694 | $2,970 | 3.40% |
| 45% | 47 | $7,835,000 | $166,702 | $2,972 | 3.37% |
| 49% | 34 | $6,650,000 | $195,588 | $2,711 | 3.22% |
1st Source Bank lent most frequently to those with DTI ratios of 20-30%, with 778 originations. The next most common DTI ratio? <20%, with 576 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2,725 | $414,195,000 | $151,998 | $2,726 | 3.33% |
| Not provided | 205 | $43,465,000 | $212,024 | $2,947 | 3.24% |
| Not applicable | 26 | $30,320,000 | $1,166,154 | $0 | 4.37% |
| Black | 94 | $11,780,000 | $125,319 | $2,628 | 3.41% |
| Asian | 39 | $10,965,000 | $281,154 | $3,936 | 3.37% |
| Asian Indian | 8 | $2,590,000 | $323,750 | $3,344 | 3.08% |
| American Indian | 11 | $1,585,000 | $144,091 | $2,720 | 3.09% |
| Other Asian | 6 | $670,000 | $111,667 | $2,844 | 3.04% |
| Native Hawaiian | 3 | $215,000 | $71,667 | $3,575 | 2.92% |
| Vietnamese | 1 | $125,000 | $125,000 | $1,560 | 3.25% |
| Korean | 1 | $35,000 | $35,000 | $0 | 4.00% |
Approval Rates
Total approvals of all applications86.14%
1st Source Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.62%
1st Source Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,119 | $515,945,000 | $165,420 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3,119 | $515,945,000 | $165,420 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 553 | $68,275,000 | $123,463 | $2,410 | 3.52% |
| 40-60% | 579 | $91,815,000 | $158,575 | $2,434 | 2.97% |
| 60-80% | 793 | $165,435,000 | $208,619 | $2,727 | 3.06% |
| 80-100% | 578 | $157,490,000 | $272,474 | $3,207 | 3.37% |
| Over 100% | 2 | $3,750,000 | $1,875,000 | $7,057 | 3.75% |
| Under 20% | 614 | $29,180,000 | $47,524 | $1,702 | 3.84% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| South Carolina State Housing Finance and Development Authority | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| South Carolina State Housing Finance and Development Authority | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| 1st Source Bank | 021 Lafortune Student Center Notre Dame, IN 46556 | Full Service B&M | $10,983 |
| 1st Source Bank | 100 West Main Street Winamac, IN 46996 | Full Service B&M | $36,211 |
| 1st Source Bank | 101 Lincolnway East Mishawaka, IN 46544 | Full Service B&M | $77,466 |
| 1st Source Bank | 101 South Main Street Goshen, IN 46526 | Full Service B&M | $40,835 |
| 1st Source Bank | 104 South Jackson Street Auburn, IN 46706 | Full Service B&M | $5,701 |
| 1st Source Bank | 10633 Coldwater Road Fort Wayne, IN 46845 | Full Service B&M | $49,355 |
| 1st Source Bank | 109 North Main Street North Liberty, IN 46554 | Full Service B&M | $31,535 |
| 1st Source Bank | 1100 Boyd Boulevard La Porte, IN 46350 | Full Service B&M | $101,519 |
| 1st Source Bank | 111 West Sigler Street Hebron, IN 46341 | Full Service B&M | $85,761 |
| 1st Source Bank | 120 Sanford School Road East Elkhart, IN 46514 | Full Service Retail | $15,220 |
| 1st Source Bank | 124 South Main Street Bluffton, IN 46714 | Full Service B&M | $43,805 |
| 1st Source Bank | 12460 State Road 23 Granger, IN 46530 | Full Service B&M | $77,110 |
| 1st Source Bank | 12850 State Rd 23 Granger, IN 46530 | Full Service Retail | $15,383 |
| 1st Source Bank | 131 East Franklin Street Elkhart, IN 46516 | Full Service B&M | $552,278 |
| 1st Source Bank | 133 North 4th Street Lafayette, IN 47901 | Full Service B&M | $86,654 |
| 1st Source Bank | 134 Lincoln Highway, West New Haven, IN 46774 | Full Service B&M | $32,853 |
| 1st Source Bank | 14 Indiana Avenue Valparaiso, IN 46383 | Full Service B&M | $213,175 |
| 1st Source Bank | 1409 West Plymouth Street Bremen, IN 46506 | Full Service B&M | $100,228 |
| 1st Source Bank | 1500 South Calumet Road Chesterton, IN 46304 | Full Service B&M | $100,873 |
| 1st Source Bank | 1600 East Market Street Nappanee, IN 46550 | Full Service B&M | $48,936 |
| 1st Source Bank | 1600 Hilltop Road St. Joseph, MI 49085 | Full Service B&M | $49,269 |
| 1st Source Bank | 1620 South U.S. 35 Knox, IN 46534 | Full Service B&M | $127,443 |
| 1st Source Bank | 1700 Mishawaka Avenue, Administration Building 183 South Bend, IN 46615 | Full Service B&M | $1,462 |
| 1st Source Bank | 1751 West Lexington Avenue Elkhart, IN 46514 | Full Service B&M | $56,159 |
| 1st Source Bank | 1800 Second Street, Suite 712 Sarasota, FL 34236 | Full Service B&M | $4,174 |
| 1st Source Bank | 1959 North Jefferson Street Huntington, IN 46750 | Full Service B&M | $23,227 |
| 1st Source Bank | 200 East Main Street, Suite 100 Fort Wayne, IN 46802 | Full Service B&M | $174,938 |
| 1st Source Bank | 200 West Michigan Avenue Kalamazoo, MI 49007 | Full Service B&M | $58,753 |
| 1st Source Bank | 2005 Laporte Ave. Valparaiso, IN 46383 | Full Service B&M | $56,067 |
| 1st Source Bank | 201 South Michigan St Lapaz, IN 46537 | Full Service B&M | $38,119 |
| 1st Source Bank | 2020 East Bristol Street Elkhart, IN 46514 | Full Service B&M | $68,166 |
| 1st Source Bank | 2044 W. St. Rd. 2 La Porte, IN 46350 | Full Service B&M | $63,598 |
| 1st Source Bank | 205 W. Jefferson Suite 404 South Bend, IN 46601 | Full Service Cyber Office | $6,641 |
| 1st Source Bank | 2060 East Ireland Road South Bend, IN 46614 | Full Service B&M | $114,014 |
| 1st Source Bank | 218 North Washington Street La Crosse, IN 46348 | Full Service B&M | $33,017 |
| 1st Source Bank | 221 South Main Street Kouts, IN 46347 | Full Service B&M | $52,880 |
| 1st Source Bank | 223 South Front Street Dowagiac, MI 49047 | Full Service B&M | $25,462 |
| 1st Source Bank | 2230 South Bend Avenue South Bend, IN 46635 | Full Service B&M | $90,967 |
| 1st Source Bank | 225 North Main Street South Bend, IN 46601 | Limited, Drive-thru | $0 |
| 1st Source Bank | 2323 South Michigan Street South Bend, IN 46614 | Full Service B&M | $38,386 |
| 1st Source Bank | 2356 W Morthland Drive Valparaiso, IN 46385 | Full Service B&M | $53,943 |
| 1st Source Bank | 2381 West Centre Ave. Portage, MI 49024 | Full Service B&M | $9,721 |
| 1st Source Bank | 2700 Calumet Avenue Valparaiso, IN 46383 | Full Service B&M | $88,580 |
| 1st Source Bank | 2804 E Center St Warsaw, IN 46580 | Full Service B&M | $26,887 |
| 1st Source Bank | 306 East Main Street Suite 100 Niles, MI 49120 | Full Service B&M | $39,711 |
| 1st Source Bank | 312 North Center Street Plymouth, IN 46563 | Limited, Drive-thru | $0 |
| 1st Source Bank | 315 North Michigan Street Plymouth, IN 46563 | Full Service B&M | $225,933 |
| 1st Source Bank | 325 South Lake Street Warsaw, IN 46580 | Full Service B&M | $98,026 |
| 1st Source Bank | 3395 Willowcreek Road Portage, IN 46368 | Full Service B&M | $31,513 |
| 1st Source Bank | 3602 North Anthony Boulevard Fort Wayne, IN 46805 | Full Service B&M | $32,555 |
| 1st Source Bank | 3655 Portage Avenue South Bend, IN 46628 | Full Service B&M | $81,640 |
| 1st Source Bank | 3800 E. Mishawaka Road Elkhart, IN 46517 | Full Service Retail | $2,173 |
| 1st Source Bank | 3905 Franklin Street Michigan City, IN 46360 | Full Service B&M | $66,056 |
| 1st Source Bank | 3944 Mccarty Lane Lafayette, IN 47905 | Full Service B&M | $38,741 |
| 1st Source Bank | 4009 Red Arrow Highway Saint Joseph, MI 49085 | Full Service B&M | $38,116 |
| 1st Source Bank | 401 North 4th Street Lafayette, IN 47902 | Limited, Drive-thru | $0 |
| 1st Source Bank | 405 East Mckinley Avenue Mishawaka, IN 46545 | Full Service B&M | $72,651 |
| 1st Source Bank | 4105 Lincoln Way West South Bend, IN 46628 | Full Service B&M | $37,526 |
| 1st Source Bank | 411 Illinois Street Walkerton, IN 46574 | Full Service B&M | $54,047 |
| 1st Source Bank | 4505 West Western Avenue South Bend, IN 46619 | Full Service B&M | $69,829 |
| 1st Source Bank | 4594 Elkhart Rd. Elkhart, IN 46517 | Full Service B&M | $26,528 |
| 1st Source Bank | 4605 East Dupont Road Fort Wayne, IN 46825 | Full Service B&M | $17,533 |
| 1st Source Bank | 4720 Lincolnway East Mishawaka, IN 46544 | Full Service B&M | $66,824 |
| 1st Source Bank | 501 North Flynn Road Westville, IN 46391 | Full Service B&M | $41,135 |
| 1st Source Bank | 516 Main Street Rochester, IN 46975 | Full Service B&M | $70,810 |
| 1st Source Bank | 518 North Michigan Street Argos, IN 46501 | Full Service B&M | $33,575 |
| 1st Source Bank | 52990 State Road 933 South Bend, IN 46637 | Full Service B&M | $64,761 |
| 1st Source Bank | 5445 State Road 993 North, Student Center Room 157 Notre Dame, IN 46556 | Full Service B&M | $13,297 |
| 1st Source Bank | 5719 Bluffton Road Fort Wayne, IN 46809 | Full Service B&M | $33,813 |
| 1st Source Bank | 6043 Central Avenue Portage, IN 46368 | Full Service B&M | $103,933 |
| 1st Source Bank | 630 Countryside Drive Columbia City, IN 46725 | Full Service B&M | $18,901 |
| 1st Source Bank | 6506 East State Boulevard Fort Wayne, IN 46815 | Full Service B&M | $47,960 |
| 1st Source Bank | 6909 North Grape Road Mishawaka, IN 46545 | Full Service B&M | $158,781 |
| 1st Source Bank | 715 Ship Street St. Joseph, MI 49085 | Full Service B&M | $34,724 |
| 1st Source Bank | 720 South 11th Street Niles, MI 49120 | Full Service Retail | $27,312 |
| 1st Source Bank | 7355 Heritage Square Drive Granger, IN 46530 | Full Service Retail | $19,352 |
| 1st Source Bank | 7821 Carnegie Blvd Fort Wayne, IN 46804 | Full Service B&M | $45,744 |
| 1st Source Bank | 809 West Wayne Street Middlebury, IN 46540 | Full Service B&M | $19,423 |
| 1st Source Bank | 848 West Michigan Street New Carlisle, IN 46552 | Full Service B&M | $111,844 |
| 1st Source Bank | 926 Erskine Plaza South Bend, IN 46614 | Full Service Retail | $18,031 |
| 1st Source Bank | 100 North Michigan Street, Suite B South Bend, IN 46601 | Full Service B&M | $1,495,362 |
For 2021, 1st Source Bank had 81 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $254,772 |
| Net interest income | $241,683 |
| Total noninterest income | $101,098 |
| Gross Fiduciary activities income | $23,782 |
| Service charges on deposit accounts | $10,589 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $66,727 |
| Pre-tax net operating income | $160,705 |
| Securities gains (or losses, -) | $-680 |
| Income before extraordinary items | $122,700 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $122,700 |
| Minority interest net income | $23 |
| Net income | $122,677 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $123,237 |
1st Source Bank's gross interest income from loans was $254,772,000.
1st Source Bank's net interest income from loans was $241,683,000.
1st Source Bank's fee based income from loans was $10,589,000.
1st Source Bank's net income from loans was $122,677,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $13,089 |
| Provision for credit losses | $-4,606 |
| Total noninterest expense | $186,682 |
| Salaries and employee benefits | $105,496 |
| Premises and equipment expense | $16,564 |
| Additional noninterest expense | $64,622 |
| Applicable income taxes | $37,325 |
| Net charge-offs | $8,859 |
| Cash dividends | $46,207 |
1st Source Bank's interest expense for loans was $13,089,000.
1st Source Bank's payroll and benefits expense were $105,496,000.
1st Source Bank's property, plant and equipment expenses $16,564,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $6,679,568 |
| Deposits held in domestic offices | $6,679,568 |
| Deposits by Individuals, partnerships, and corporations | $5,715,028 |
| Deposits by U.S. Government | $17 |
| Deposits by States and political subdivisions in the U.S. | $949,201 |
| Deposits by Commercial banks and other depository institutions in U.S. | $15,322 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $451,377 |
| Demand deposits | $451,377 |
| Nontransaction accounts | $6,228,191 |
| Money market deposit accounts (MMDAs) | $4,693,606 |
| Other savings deposits (excluding MMDAs) | $665,005 |
| Total time deposits | $869,580 |
| Total time and savings deposits | $6,228,191 |
| Noninterest-bearing deposits | $2,052,984 |
| Interest-bearing deposits | $4,626,584 |
| Retail deposits | $6,395,904 |
| IRAs and Keogh plan accounts | $146,494 |
| Brokered deposits | $146,324 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $8,096,004 |
| Cash & Balances due from depository institutions | $529,592 |
| Interest-bearing balances | $475,172 |
| Total securities | $1,863,041 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $5,232,006 |
| Loan and leases loss allowance | $127,492 |
| Trading account assets | $24,436 |
| Bank premises and fixed assets | $70,647 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $87,898 |
| All other assets | $288,384 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $8,096,004 |
| Total Liabilities | $7,135,564 |
| Total deposits | $6,679,568 |
| Interest-bearing deposits | $4,626,584 |
| Deposits held in domestic offices | $6,679,568 |
| % insured (estimated) | $55 |
| Federal funds purchased and repurchase agreements | $289,268 |
| Trading liabilities | $24,873 |
| Other borrowed funds | $45,483 |
| Subordinated debt | $0 |
| All other liabilities | $96,372 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $5,232,006 |
| Loan and leases loss allowance | $127,492 |
| Total loans and leases (domestic) | $5,359,498 |
| All real estate loans | $1,468,835 |
| Real estate loans in domestic offices | $1,468,835 |
| Construction and development loans | $119,589 |
| Residential 1-4 family construction | $17,884 |
| Other construction, all land development and other land | $101,705 |
| Loans secured by nonfarm nonresidential properties | $699,911 |
| Nonfarm nonresidential secured by owner-occupied properties | $378,861 |
| Commercial real estate & other non-farm, non-residential | $321,050 |
| Multifamily residential real estate | $48,272 |
| 1-4 family residential loans | $520,777 |
| Farmland loans | $80,286 |
| Loans held in foreign offices | $0 |
| Farm loans | $57,153 |
| Commercial and industrial loans | $3,519,338 |
| To non-U.S. addressees | $97,850 |
| Loans to individuals | $133,090 |
| Credit card loans | $0 |
| Related Plans | $21,387 |
| Consumer Auto Loans | $63,266 |
| Other loans to individuals | $48,437 |
| All other loans & leases | $181,082 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $31,825 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $49,625 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $319 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
1st Source Bank had $5,232,006,000 of loans outstanding in 2021. $1,468,835,000 of loans were in real estate loans. $119,589,000 of loans were in development loans. $48,272,000 of loans were in multifamily mortgage loans. $520,777,000 of loans were in 1-4 family mortgage loans. $57,153,000 of loans were in farm loans. $0 of loans were in credit card loans. $63,266,000 of loans were in the auto loan category.
Small Business Loans
| Categorization | # of Loans in Category | $ amount of loans (in 000's) | Average $/loan |
|---|---|---|---|
| Nonfarm, nonresidential loans - <$1MM | 912 | $188,824 | $207,044 |
| Nonfarm, nonresidential loans - <$100k | 193 | $7,867 | $40,762 |
| Nonfarm, nonresidential loans - $100-250k | 315 | $36,962 | $117,340 |
| Nonfarm, nonresidential loans - $250k-1MM | 404 | $143,995 | $356,423 |
| Commercial & Industrial, US addressed loans - <$1MM | 3,524 | $347,139 | $98,507 |
| Commercial & Industrial, US addressed loans - <$100k | 1,827 | $34,997 | $19,155 |
| Commercial & Industrial, US addressed loans - $100-250k | 773 | $69,194 | $89,514 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 924 | $242,948 | $262,931 |
| Farmland loans - <$1MM | 176 | $18,869 | $107,210 |
| Farmland loans - <$100k | 55 | $2,293 | $41,691 |
| Farmland loans - $100-250k | 76 | $7,190 | $94,605 |
| Farmland loans - $250k-1MM | 45 | $9,386 | $208,578 |
| Agriculture operations loans - <$1MM | 197 | $10,925 | $55,457 |
| Agriculture operations loans - <$100k | 107 | $1,972 | $18,430 |
| Agriculture operations loans - $100-250k | 50 | $3,541 | $70,820 |
| Agriculture operations loans - $250k-1MM | 40 | $5,412 | $135,300 |
