1st Source Bank Mortgage Rates, Fees & Info

South Bend, IN

LEI: LCUAWMT4M5H8DJ8DFH49

Tax ID: 35-0309575

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    1st Source Bank is a smaller bank specializing in Home Purchase and 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 by origination volume include: South Bend, Elkhart, Chicago, Fort Wayne, and Michigan City among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)

    1st Source Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. 1st Source Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.11% 11/22/24
    30 Year Conventional Purchase 6.67% 11/22/24
    30 Year Conventional Refi 6.66% 11/22/24
    30 Year Cash-out Refi 6.90% 11/22/24
    30 Year FHA Purchase 7.82% 11/22/24
    30 Year FHA Refi 7.67% 11/22/24
    30 Year VA Purchase 6.35% 11/22/24
    30 Year VA Refi 6.27% 11/22/24
    15 Year Conventional Purchase 6.15% 11/22/24
    15 Year Conventional Refi 6.18% 11/22/24
    15 Year Cash-out Refi 6.18% 11/22/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    1st Source Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from 1st Source Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,953

    Origination Dollar Volume (All Markets)

    $259,925,000

    Employee count

    1,153 Show all (6) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 703 $93,805,000 $133,435 $2,803 5.41%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 220 $27,480,000 $124,909 $2,727 5.41%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 189 $27,455,000 $145,265 $2,717 5.39%
    FORT WAYNE, IN (FHA|USDA|VA) 161 $22,355,000 $138,851 $2,866 5.45%
    Outside of Metro Areas 118 $15,660,000 $132,712 $2,881 5.63%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 123 $12,875,000 $104,675 $3,018 5.59%
    Warsaw, IN (FHA|USDA|VA) 71 $11,415,000 $160,775 $3,149 5.19%
    NILES, MI (FHA|USDA|VA) 67 $9,075,000 $135,448 $3,346 5.53%
    Plymouth, IN (FHA|USDA|VA) 97 $8,465,000 $87,268 $2,245 5.65%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 51 $7,865,000 $154,216 $2,491 5.25%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 26 $6,020,000 $231,538 $3,052 5.10%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 7 $2,445,000 $349,286 $7,296 5.08%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 8 $1,610,000 $201,250 $3,113 4.85%
    Sturgis, MI (FHA|USDA|VA) 8 $1,540,000 $192,500 $2,772 5.73%
    Bluffton, IN (FHA|USDA|VA) 21 $1,385,000 $65,952 $1,732 5.79%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 8 $1,300,000 $162,500 $3,934 4.96%
    Angola, IN (FHA|USDA|VA) 8 $1,270,000 $158,750 $2,293 5.13%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,025,000 $341,667 $6,444 4.42%
    Kendallville, IN (FHA|USDA|VA) 7 $895,000 $127,857 $2,353 5.20%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 4 $830,000 $207,500 $2,228 5.02%
    Huntington, IN (FHA|USDA|VA) 21 $705,000 $33,571 $1,911 5.98%
    Traverse City, MI (FHA|USDA|VA) 1 $605,000 $605,000 $7,931 4.38%
    Auburn, IN (FHA|USDA|VA) 5 $605,000 $121,000 $2,612 5.73%
    PUNTA GORDA, FL (FHA|USDA|VA) 3 $595,000 $198,333 $4,778 5.28%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $530,000 $265,000 $1,441 5.86%
    BLOOMINGTON, IN (FHA|USDA|VA) 1 $425,000 $425,000 $6,653 3.88%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $350,000 $175,000 $0 5.98%
    Decatur, IN (FHA|USDA|VA) 4 $270,000 $67,500 $2,090 5.08%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,412 4.13%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $225,000 $225,000 $4,945 4.75%
    MUSKEGON, MI (FHA|USDA|VA) 2 $140,000 $70,000 $2,154 5.18%
    KOKOMO, IN (FHA|USDA|VA) 1 $95,000 $95,000 $2,213 4.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,187 4.38%
    Wabash, IN (FHA|USDA|VA) 3 $65,000 $21,667 $0 5.93%
    BATTLE CREEK, MI (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.10%
    Peru, IN (FHA|USDA|VA) 2 $60,000 $30,000 $0 6.23%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.35%
    Logansport, IN (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.85%
    1st Source Bank's top markets include South Bend, Elkhart, Chicago, Fort Wayne, and Michigan City among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against 1st Source Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    UNITED
    Similarity Rank: 28
    The Garrett State Bank
    Similarity Rank: 48
    Fire Police City County Federal Credit Union
    Similarity Rank: 48
    Liberty Bank for Savings
    Similarity Rank: 104
    Security Federal Savings Bank
    Similarity Rank: 208
    Greenfield Banking Company
    Similarity Rank: 255
    Mercantile Bank of Michigan
    Similarity Rank: 374
    Hendricks County Bank and Trust Company
    Similarity Rank: 393
    PACIFIC GLOBAL BANK
    Similarity Rank: 408
    Kellogg Community Credit Union
    Similarity Rank: 420

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,123 $98,265,000 $87,502 n/a 5.94%
    Conventional 775 $155,125,000 $200,161 $2,756 4.73%
    FHA 45 $5,255,000 $116,778 $4,121 4.75%
    VA 8 $1,100,000 $137,500 $5,061 4.81%
    USDA 2 $180,000 $90,000 $2,675 5.50%

    For 2018, 1st Source Bank's most frequently originated type of loan was HELOC, with 1,123 originations. Their 2nd most popular type was Conventional, with 775 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 603 $121,165,000 $200,937 $2,991 4.84%
    Refi 575 $69,265,000 $120,461 $2,582 5.65%
    Other 379 $27,295,000 $72,018 $1,639 6.01%
    Home Improvement 214 $11,130,000 $52,009 $1,732 6.10%
    Cash Out Refi 182 $31,070,000 $170,714 $2,818 4.70%

    For 2018, 1st Source Bank's most frequently cited loan purpose was Home Purchase, with 603 originations. The 2nd most popular reason was Refi, with 575 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,180 $122,590,000 $103,890 $3,845 5.88%
    30 Year 534 $103,840,000 $194,457 $2,961 4.72%
    15 Year 157 $24,605,000 $156,720 $2,662 4.34%
    5 Year 31 $4,235,000 $136,613 $762 5.82%
    10 Year 27 $1,035,000 $38,333 $1,127 5.95%
    20 Year 12 $1,530,000 $127,500 $2,230 5.08%
    1 Year 12 $2,090,000 $174,167 $1,119 6.07%

    For 2018, 1st Source Bank's most frequently cited loan duration was Other, with 1,180 originations. The 2nd most popular length was 30 Year, with 534 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 486 $80,610,000 $165,864
    $1k-2k 178 $35,170,000 $197,584
    $2k-3k 52 $11,870,000 $228,269
    $3k-4k 18 $6,540,000 $363,333
    $5k+ 13 $9,345,000 $718,846
    $4k-5k 8 $3,000,000 $375,000

    1st Source Bank's average total fees were $2,961, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 486 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 666 $77,810,000 $116,832
    6-7% 571 $35,695,000 $62,513
    4-5% 562 $107,370,000 $191,050
    3-4% 113 $36,085,000 $319,336
    7-8% 22 $960,000 $43,636

    During 2018, 1st Source Bank's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 5-6%, with 666 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,121 $51,005,000 $45,500 $2,092 5.75%
    $100k-200k 480 $65,820,000 $137,125 $2,681 5.14%
    $200k-400k 236 $62,670,000 $265,551 $3,234 5.06%
    $400k-600k 70 $34,300,000 $490,000 $4,498 4.42%
    $600k-1MM 33 $23,435,000 $710,152 $5,771 4.47%
    $1MM+ 13 $22,695,000 $1,745,769 $8,795 4.78%

    2018 saw 1st Source Bank place emphasis on $100,000 or less loans with 1,121 originations, totaling $51,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 458 $28,030,000 $61,201 $2,310 5.45%
    $50k-75k 410 $33,820,000 $82,488 $2,660 5.50%
    $100k-150k 286 $34,720,000 $121,399 $2,704 5.56%
    $75k-100k 267 $25,875,000 $96,910 $2,620 5.62%
    $250k+ 255 $83,635,000 $327,980 $4,466 5.08%
    $150k-250k 185 $33,595,000 $181,595 $3,572 5.29%

    1st Source Bank lent most frequently to those with incomes in the $50k or less range, with 458 originations. The second most popular income band? $50k-75k, with 410 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 513 $60,805,000 $118,528 $2,794 5.41%
    <20% 336 $41,780,000 $124,345 $2,937 5.33%
    30-36% 282 $34,290,000 $121,596 $2,818 5.45%
    >60% 66 $13,960,000 $211,515 $7,114 5.88%
    42% 65 $7,855,000 $120,846 $2,644 5.28%
    50-60% 60 $9,080,000 $151,333 $4,798 5.82%
    39% 59 $9,455,000 $160,254 $3,181 5.32%
    37% 54 $6,440,000 $119,259 $2,966 5.46%
    44% 52 $5,390,000 $103,654 $2,878 5.51%
    38% 52 $7,680,000 $147,692 $3,059 5.53%
    36% 51 $5,755,000 $112,843 $2,513 5.64%
    41% 49 $5,675,000 $115,816 $2,994 5.36%
    40% 48 $5,380,000 $112,083 $2,559 5.45%
    46% 45 $5,965,000 $132,556 $2,721 5.30%
    43% 40 $4,030,000 $100,750 $2,508 5.38%
    47% 37 $5,325,000 $143,919 $3,324 5.34%
    49% 33 $5,705,000 $172,879 $2,780 5.24%
    45% 31 $4,975,000 $160,484 $2,951 5.31%
    48% 26 $2,830,000 $108,846 $2,499 5.31%

    1st Source Bank lent most frequently to those with DTI ratios of 20-30%, with 513 originations. The next most common DTI ratio? <20%, with 336 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,734 $220,200,000 $126,990 $2,868 5.44%
    Not provided 95 $13,825,000 $145,526 $2,529 5.47%
    Not applicable 29 $10,965,000 $378,103 $0 5.90%
    Asian 27 $6,945,000 $257,222 $2,735 5.17%
    Black 54 $5,290,000 $97,963 $2,958 5.34%
    Asian Indian 2 $1,150,000 $575,000 $5,051 4.19%
    American Indian 8 $740,000 $92,500 $2,726 5.13%
    Native Hawaiian or Islander 2 $630,000 $315,000 $8,883 4.68%
    Other Asian 2 $180,000 $90,000 $1,059 5.75%

    Approval Rates

    Total approvals of all applications
    81.16%

    1st Source Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.90%

    1st Source Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,953 $259,925,000 $133,090

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $605,000 $605,000
    Multifamily:Site-Built 8 $9,040,000 $1,130,000
    Single Family (1-4 Units):Manufactured 16 $1,180,000 $73,750
    Single Family (1-4 Units):Site-Built 1,928 $249,100,000 $129,201

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 425 $43,155,000 $101,541 $2,513 5.80%
    40-60% 235 $33,245,000 $141,468 $2,541 5.35%
    60-80% 448 $90,370,000 $201,719 $3,065 4.99%
    80-100% 378 $75,440,000 $199,577 $2,899 4.87%
    Over 100% 4 $1,370,000 $342,500 $5,223 4.81%
    Under 20% 462 $16,130,000 $34,913 $990 6.03%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    South Carolina State Housing Finance and Development Authority Conventional home mortgage Struggling to pay mortgage 2 100.0%

    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 $7,017
    1st Source Bank 100 North Michigan Street South Bend, IN 46601 Full Service B&M $1,337,810
    1st Source Bank 100 West Main Street Winamac, IN 46996 Full Service B&M $24,746
    1st Source Bank 101 Lincolnway East Mishawaka, IN 46544 Full Service B&M $61,289
    1st Source Bank 101 South Main Street Goshen, IN 46526 Full Service B&M $28,482
    1st Source Bank 10633 Coldwater Road Fort Wayne, IN 46845 Full Service B&M $34,369
    1st Source Bank 109 North Main Street North Liberty, IN 46554 Full Service B&M $24,489
    1st Source Bank 1100 Boyd Boulevard La Porte, IN 46350 Full Service B&M $134,538
    1st Source Bank 111 West Sigler Street Hebron, IN 46341 Full Service B&M $75,849
    1st Source Bank 120 Sanford School Road East Elkhart, IN 46514 Full Service Retail $11,470
    1st Source Bank 124 South Main Street Bluffton, IN 46714 Full Service B&M $55,211
    1st Source Bank 12455 Adams Road Granger, IN 46530 Full Service B&M $57,512
    1st Source Bank 12850 State Rd 23 Granger, IN 46530 Full Service Retail $12,484
    1st Source Bank 131 East Franklin Street Elkhart, IN 46516 Full Service B&M $399,090
    1st Source Bank 133 North 4th Street Lafayette, IN 47901 Full Service B&M $55,268
    1st Source Bank 134 Lincoln Highway, West New Haven, IN 46774 Full Service B&M $47,395
    1st Source Bank 14 Indiana Avenue Valparaiso, IN 46383 Full Service B&M $170,288
    1st Source Bank 1409 West Plymouth Street Bremen, IN 46506 Full Service B&M $78,936
    1st Source Bank 1500 South Calumet Road Chesterton, IN 46304 Full Service B&M $81,277
    1st Source Bank 1600 East Market Street Nappanee, IN 46550 Full Service B&M $32,286
    1st Source Bank 1600 Hilltop Road St. Joseph, MI 49085 Full Service B&M $34,841
    1st Source Bank 1620 South U.S. 35 Knox, IN 46534 Full Service B&M $91,177
    1st Source Bank 1751 West Lexington Avenue Elkhart, IN 46514 Full Service B&M $32,565
    1st Source Bank 1800 Second Street, Suite 712 Sarasota, FL 34236 Full Service B&M $769
    1st Source Bank 1959 North Jefferson Street Huntington, IN 46750 Full Service B&M $24,227
    1st Source Bank 200 East Main Street, Suite 100 Fort Wayne, IN 46802 Full Service B&M $164,541
    1st Source Bank 200 West Michigan Avenue Kalamazoo, MI 49007 Full Service B&M $28,535
    1st Source Bank 2005 Laporte Ave. Valparaiso, IN 46383 Full Service B&M $42,233
    1st Source Bank 201 South Michigan St Lapaz, IN 46537 Full Service B&M $32,860
    1st Source Bank 2020 East Bristol Street Elkhart, IN 46514 Full Service B&M $42,179
    1st Source Bank 2044 W. St. Rd. 2 La Porte, IN 46350 Full Service B&M $29,573
    1st Source Bank 205 W. Jefferson Suite 404 South Bend, IN 46601 Full Service Cyber Office $6,372
    1st Source Bank 312 North Center Street Plymouth, IN 46563 Limited, Drive-thru $0
    1st Source Bank 2060 East Ireland Road South Bend, IN 46614 Full Service B&M $96,301
    1st Source Bank 218 North Washington Street La Crosse, IN 46348 Full Service B&M $23,455
    1st Source Bank 221 South Main Street Kouts, IN 46347 Full Service B&M $36,751
    1st Source Bank 223 South Front Street Dowagiac, MI 49047 Full Service B&M $18,193
    1st Source Bank 2230 South Bend Avenue South Bend, IN 46635 Full Service B&M $89,326
    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 $31,197
    1st Source Bank 2356 W Morthland Drive Valparaiso, IN 46385 Full Service B&M $45,150
    1st Source Bank 2381 West Centre Ave. Portage, MI 49024 Full Service B&M $9,460
    1st Source Bank 2700 Calumet Avenue Valparaiso, IN 46383 Full Service B&M $50,353
    1st Source Bank 2804 E Center St Warsaw, IN 46580 Full Service B&M $15,729
    1st Source Bank 306 East Main Street Suite 100 Niles, MI 49120 Full Service B&M $34,428
    1st Source Bank 315 North Michigan Street Plymouth, IN 46563 Full Service B&M $161,731
    1st Source Bank 325 South Lake Street Warsaw, IN 46580 Full Service B&M $77,495
    1st Source Bank 3395 Willowcreek Road Portage, IN 46368 Full Service B&M $25,372
    1st Source Bank 3602 North Anthony Boulevard Fort Wayne, IN 46805 Full Service B&M $29,551
    1st Source Bank 3655 Portage Avenue South Bend, IN 46628 Full Service B&M $59,761
    1st Source Bank 3800 E. Mishawaka Road Elkhart, IN 46517 Full Service B&M $652
    1st Source Bank 3905 Franklin Street Michigan City, IN 46360 Full Service B&M $61,145
    1st Source Bank 3944 Mccarty Lane Lafayette, IN 47905 Full Service B&M $30,217
    1st Source Bank 4009 Red Arrow Highway Saint Joseph, MI 49085 Full Service B&M $18,675
    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 $57,563
    1st Source Bank 4105 Lincoln Way West South Bend, IN 46628 Full Service B&M $33,013
    1st Source Bank 411 Illinois Street Walkerton, IN 46574 Full Service B&M $46,208
    1st Source Bank 4505 West Western Avenue South Bend, IN 46619 Full Service B&M $59,517
    1st Source Bank 4594 Elkhart Rd. Elkhart, IN 46517 Full Service B&M $18,949
    1st Source Bank 4605 East Dupont Road Fort Wayne, IN 46825 Full Service B&M $11,606
    1st Source Bank 4720 Lincolnway East Mishawaka, IN 46544 Full Service B&M $52,124
    1st Source Bank 501 North Flynn Road Westville, IN 46391 Full Service B&M $27,820
    1st Source Bank 516 Main Street Rochester, IN 46975 Full Service B&M $44,841
    1st Source Bank 518 North Michigan Street Argos, IN 46501 Full Service B&M $26,082
    1st Source Bank 52990 State Road 933 South Bend, IN 46637 Full Service B&M $58,621
    1st Source Bank 5445 State Road 993 North Notre Dame, IN 46556 Full Service B&M $10,002
    1st Source Bank 555 East Jackson Blvd Elkhart, IN 46516 Full Service B&M $841
    1st Source Bank 5639 Cleveland Avenue Stevensville, MI 49127 Full Service Retail $11,122
    1st Source Bank 5719 Bluffton Road Fort Wayne, IN 46809 Full Service B&M $40,642
    1st Source Bank 6043 Central Avenue Portage, IN 46368 Full Service B&M $81,886
    1st Source Bank 630 Countryside Drive Columbia City, IN 46725 Full Service B&M $14,344
    1st Source Bank 6506 East State Boulevard Fort Wayne, IN 46815 Full Service B&M $38,939
    1st Source Bank 6909 North Grape Road Mishawaka, IN 46545 Full Service B&M $102,186
    1st Source Bank 715 Ship Street St. Joseph, MI 49085 Full Service B&M $23,760
    1st Source Bank 720 South 11th Street Niles, MI 49120 Full Service Retail $15,064
    1st Source Bank 7355 Heritage Square Drive Granger, IN 46530 Full Service Retail $13,010
    1st Source Bank 7821 Carnegie Blvd Fort Wayne, IN 46804 Full Service B&M $42,143
    1st Source Bank 801 West Wayne St Middlebury, IN 46540 Full Service B&M $25,405
    1st Source Bank 848 West Michigan Street New Carlisle, IN 46552 Full Service B&M $65,718
    1st Source Bank 926 Erskine Plaza South Bend, IN 46614 Full Service Retail $12,915

    For 2018, 1st Source Bank had 81 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $257,316
    Net interest income $218,929
    Total noninterest income $98,431
    Gross Fiduciary activities income $21,071
    Service charges on deposit accounts $10,454
    Trading account gains and fees $0
    Additional Noninterest Income $66,906
    Pre-tax net operating income $110,250
    Securities gains (or losses, -) $-345
    Income before extraordinary items $86,284
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $86,284
    Minority interest net income $0
    Net income $86,284
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $86,556

    1st Source Bank's gross interest income from loans was $257,316,000.
    1st Source Bank's net interest income from loans was $218,929,000.
    1st Source Bank's fee based income from loans was $10,454,000.
    1st Source Bank's net income from loans was $86,284,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $38,387
    Provision for credit losses $19,462
    Total noninterest expense $187,648
    Salaries and employee benefits $93,601
    Premises and equipment expense $17,668
    Additional noninterest expense $76,379
    Applicable income taxes $23,621
    Net charge-offs $13,876
    Cash dividends $45,080

    1st Source Bank's interest expense for loans was $38,387,000.
    1st Source Bank's payroll and benefits expense were $93,601,000.
    1st Source Bank's property, plant and equipment expenses $17,668,000.

    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 $5,122,824
    Deposits held in domestic offices $5,122,824
    Deposits by Individuals, partnerships, and corporations $4,345,938
    Deposits by U.S. Government $10
    Deposits by States and political subdivisions in the U.S. $759,170
    Deposits by Commercial banks and other depository institutions in U.S. $17,706
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $310,206
    Demand deposits $310,206
    Nontransaction accounts $4,812,618
    Money market deposit accounts (MMDAs) $2,930,217
    Other savings deposits (excluding MMDAs) $425,570
    Total time deposits $1,456,831
    Total time and savings deposits $4,812,618
    Noninterest-bearing deposits $1,217,122
    Interest-bearing deposits $3,905,702
    Retail deposits $4,456,059
    IRAs and Keogh plan accounts $170,084
    Brokered deposits $381,422
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,289,875
    Cash & Balances due from depository institutions $104,709
    Interest-bearing balances $9,802
    Total securities $990,129
    Federal funds sold & reverse repurchase $0
    Net loans and leases $4,746,285
    Loan and leases loss allowance $100,469
    Trading account assets $7,128
    Bank premises and fixed assets $54,348
    Other real estate owned $299
    Goodwill and other intangibles $87,582
    All other assets $299,395

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,289,875
    Total Liabilities $5,547,671
    Total deposits $5,122,824
    Interest-bearing deposits $3,905,702
    Deposits held in domestic offices $5,122,824
    % insured (estimated) $58
    Federal funds purchased and repurchase agreements $220,273
    Trading liabilities $7,253
    Other borrowed funds $127,839
    Subordinated debt $0
    All other liabilities $69,482

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $4,746,285
    Loan and leases loss allowance $100,469
    Total loans and leases (domestic) $4,846,754
    All real estate loans $1,472,654
    Real estate loans in domestic offices $1,472,654
    Construction and development loans $136,529
    Residential 1-4 family construction $13,400
    Other construction, all land development and other land $123,129
    Loans secured by nonfarm nonresidential properties $656,799
    Nonfarm nonresidential secured by owner-occupied properties $394,269
    Commercial real estate & other non-farm, non-residential $262,530
    Multifamily residential real estate $17,824
    1-4 family residential loans $558,011
    Farmland loans $103,491
    Loans held in foreign offices $0
    Farm loans $51,877
    Commercial and industrial loans $2,940,570
    To non-U.S. addressees $92,648
    Loans to individuals $136,649
    Credit card loans $0
    Related Plans $29,100
    Consumer Auto Loans $52,052
    Other loans to individuals $55,497
    All other loans & leases $245,004
    Loans to foreign governments and official institutions $0
    Other loans $32,238
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $12,877
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $344
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    1st Source Bank had $4,746,285,000 of loans outstanding in 2018. $1,472,654,000 of loans were in real estate loans. $136,529,000 of loans were in development loans. $17,824,000 of loans were in multifamily mortgage loans. $558,011,000 of loans were in 1-4 family mortgage loans. $51,877,000 of loans were in farm loans. $0 of loans were in credit card loans. $52,052,000 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 1,029 $194,141 $188,670
    Nonfarm, nonresidential loans - <$100k 231 $9,619 $41,641
    Nonfarm, nonresidential loans - $100-250k 370 $40,762 $110,168
    Nonfarm, nonresidential loans - $250k-1MM 428 $143,760 $335,888
    Commercial & Industrial, US addressed loans - <$1MM 3,151 $318,165 $100,973
    Commercial & Industrial, US addressed loans - <$100k 1,672 $32,714 $19,566
    Commercial & Industrial, US addressed loans - $100-250k 654 $57,217 $87,488
    Commercial & Industrial, US addressed loans - $250k-1MM 825 $228,234 $276,647
    Farmland loans - <$1MM 223 $25,214 $113,067
    Farmland loans - <$100k 70 $2,646 $37,800
    Farmland loans - $100-250k 93 $8,829 $94,935
    Farmland loans - $250k-1MM 60 $13,739 $228,983
    Agriculture operations loans - <$1MM 221 $14,729 $66,647
    Agriculture operations loans - <$100k 114 $2,606 $22,860
    Agriculture operations loans - $100-250k 65 $4,924 $75,754
    Agriculture operations loans - $250k-1MM 42 $7,199 $171,405