1st Source Bank Mortgage Rates, Fees & Info

South Bend, IN

LEI: LCUAWMT4M5H8DJ8DFH49

Tax ID: 35-0309575

5 stars - out of 5 stars, based on 56 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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

3,119

Origination Dollar Volume (All Markets)

$515,945,000

Employee count

1,131 Show all (6) awards

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 applications
86.14%

1st Source Bank has an average approval rate.

Pick Rate

Approvals leading to origination
81.62%

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