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
  • 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 Refi and Home Purchase 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, Kalamazoo, and Fort Wayne among others. We have data for 46 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

    2,772

    Origination Dollar Volume (All Markets)

    $421,060,000

    Employee count

    1,177 Show all (11) 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) 944 $131,830,000 $139,650 $2,608 4.58%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 367 $52,055,000 $141,839 $2,598 4.61%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 256 $35,710,000 $139,492 $2,445 4.76%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 34 $31,100,000 $914,706 $3,314 4.75%
    FORT WAYNE, IN (FHA|USDA|VA) 244 $28,530,000 $116,926 $2,658 4.73%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 168 $20,180,000 $120,119 $2,777 4.72%
    Plymouth, IN (FHA|USDA|VA) 158 $18,190,000 $115,127 $2,727 4.90%
    Outside of Metro Areas 140 $15,990,000 $114,214 $2,780 4.85%
    NILES, MI (FHA|USDA|VA) 105 $14,005,000 $133,381 $3,103 4.75%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 69 $13,945,000 $202,101 $2,500 4.56%
    Warsaw, IN (FHA|USDA|VA) 85 $12,835,000 $151,000 $2,448 4.61%
    BATTLE CREEK, MI (FHA|USDA|VA) 1 $8,405,000 $8,405,000 $0 4.93%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 19 $5,155,000 $271,316 $2,819 4.23%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $3,870,000 $645,000 $6,785 3.92%
    Huntington, IN (FHA|USDA|VA) 48 $3,240,000 $67,500 $2,275 5.01%
    Bluffton, IN (FHA|USDA|VA) 45 $3,115,000 $69,222 $2,275 4.87%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 5 $3,015,000 $603,000 $2,910 5.06%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 4 $2,170,000 $542,500 $6,055 4.19%
    Auburn, IN (FHA|USDA|VA) 13 $2,065,000 $158,846 $2,431 4.56%
    Sturgis, MI (FHA|USDA|VA) 7 $1,965,000 $280,714 $2,639 4.51%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,555,000 $1,555,000 $12,127 3.75%
    Angola, IN (FHA|USDA|VA) 7 $1,355,000 $193,571 $3,795 4.61%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $1,215,000 $405,000 $2,533 4.79%
    OCALA, FL (FHA|USDA|VA) 3 $995,000 $331,667 $8,836 5.05%
    PUNTA GORDA, FL (FHA|USDA|VA) 3 $895,000 $298,333 $5,188 3.38%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $805,000 $268,333 $3,169 4.13%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $755,000 $755,000 $10,680 3.38%
    BLOOMINGTON, IN (FHA|USDA|VA) 3 $675,000 $225,000 $2,635 3.83%
    Kendallville, IN (FHA|USDA|VA) 6 $640,000 $106,667 $0 5.17%
    Cadillac, MI (FHA|USDA|VA) 2 $630,000 $315,000 $4,951 4.56%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $600,000 $300,000 $3,522 3.94%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $585,000 $195,000 $4,035 4.13%
    KOKOMO, IN (FHA|USDA|VA) 2 $580,000 $290,000 $2,598 3.88%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $440,000 $220,000 $4,411 3.81%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $345,000 $345,000 $4,380 3.63%
    Traverse City, MI (FHA|USDA|VA) 1 $275,000 $275,000 $0 4.44%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $265,000 $265,000 $4,494 3.75%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $255,000 $255,000 $2,044 4.00%
    Holland, MI (FHA|USDA|VA) 2 $160,000 $80,000 $2,473 4.28%
    COLUMBUS, IN (FHA|USDA|VA) 1 $145,000 $145,000 $2,047 3.25%
    Wabash, IN (FHA|USDA|VA) 1 $125,000 $125,000 $1,591 4.25%
    Decatur, IN (FHA|USDA|VA) 1 $115,000 $115,000 $1,810 4.13%
    MUSKEGON, MI (FHA|USDA|VA) 1 $105,000 $105,000 $1,776 3.00%
    Crawfordsville, IN (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.95%
    MUNCIE, IN (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.30%
    Peru, IN (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.80%
    1st Source Bank's top markets include South Bend, Elkhart, Chicago, Kalamazoo, and Fort Wayne 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.

    Fire Police City County Federal Credit Union
    Similarity Rank: 72
    BEACON CREDIT UNION
    Similarity Rank: 78
    Liberty Bank for Savings
    Similarity Rank: 85
    Industrial Federal Credit Union
    Similarity Rank: 138
    Security Federal Savings Bank
    Similarity Rank: 180
    Circle Federal Credit Union
    Similarity Rank: 243
    EDUCATORS CREDIT UNION
    Similarity Rank: 352
    ProFed Federal Credit Union
    Similarity Rank: 374
    Kellogg Community Credit Union
    Similarity Rank: 384
    KALSEE CREDIT UNION
    Similarity Rank: 400

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,498 $117,750,000 $78,605 n/a 5.19%
    Conventional 1,185 $291,515,000 $246,004 $2,566 4.05%
    FHA 72 $8,940,000 $124,167 $4,265 4.08%
    VA 15 $2,555,000 $170,333 $4,578 4.13%
    USDA 2 $300,000 $150,000 $3,495 4.63%

    For 2019, 1st Source Bank's most frequently originated type of loan was HELOC, with 1,498 originations. Their 2nd most popular type was Conventional, with 1,185 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 923 $116,205,000 $125,899 $2,417 4.82%
    Home Purchase 712 $188,600,000 $264,888 $2,838 4.21%
    Other 464 $33,120,000 $71,379 $1,617 5.20%
    Cash Out Refi 360 $69,240,000 $192,333 $2,714 4.01%
    Home Improvement 313 $13,895,000 $44,393 $1,983 5.23%

    For 2019, 1st Source Bank's most frequently cited loan purpose was Refi, with 923 originations. The 2nd most popular reason was Home Purchase, with 712 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,567 $177,855,000 $113,500 $3,265 5.12%
    30 Year 773 $162,445,000 $210,149 $2,857 4.12%
    15 Year 313 $59,325,000 $189,537 $2,553 3.54%
    10 Year 36 $2,330,000 $64,722 $1,218 5.55%
    20 Year 32 $4,070,000 $127,188 $2,230 4.24%
    1 Year 30 $5,710,000 $190,333 $1,055 5.90%
    5 Year 21 $9,325,000 $444,048 $494 5.28%

    For 2019, 1st Source Bank's most frequently cited loan duration was Other, with 1,567 originations. The 2nd most popular length was 30 Year, with 773 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 787 $147,905,000 $187,935
    $1k-2k 349 $84,855,000 $243,138
    $2k-3k 59 $15,085,000 $255,678
    $3k-4k 13 $3,415,000 $262,692
    $4k-5k 2 $700,000 $350,000
    $5k+ 1 $285,000 $285,000

    1st Source Bank's average total fees were $2,857, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 787 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,034 $182,690,000 $176,683
    5-6% 866 $59,580,000 $68,799
    3-4% 628 $147,570,000 $234,984
    6-7% 171 $13,505,000 $78,977
    2.5-3% 48 $11,470,000 $238,958
    7-8% 14 $690,000 $49,286
    <2.5% 11 $5,555,000 $505,000

    During 2019, 1st Source Bank's average interest rate for loans was 4.12%, while their most frequently originated rate bucket for loans was 4-5%, with 1,034 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,465 $66,475,000 $45,375 $2,194 4.99%
    $100k-200k 753 $106,025,000 $140,803 $2,587 4.37%
    $200k-400k 393 $105,755,000 $269,097 $2,812 4.34%
    $400k-600k 91 $44,095,000 $484,560 $3,333 3.98%
    $600k-1MM 49 $37,705,000 $769,490 $4,634 3.83%
    $1MM+ 21 $61,005,000 $2,905,000 $6,966 3.93%

    2019 saw 1st Source Bank place emphasis on $100,000 or less loans with 1,465 originations, totaling $66,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 610 $40,210,000 $65,918 $2,385 4.63%
    $50k-75k 569 $50,465,000 $88,691 $2,586 4.68%
    $100k-150k 422 $54,320,000 $128,720 $2,564 4.77%
    $75k-100k 374 $39,270,000 $105,000 $2,565 4.74%
    $250k+ 330 $112,900,000 $342,121 $3,701 4.50%
    $150k-250k 306 $60,920,000 $199,085 $2,799 4.66%

    1st Source Bank lent most frequently to those with incomes in the $50k or less range, with 610 originations. The second most popular income band? $50k-75k, with 569 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 716 $87,210,000 $121,802 $2,519 4.59%
    30-36% 465 $60,685,000 $130,505 $2,710 4.69%
    <20% 441 $63,375,000 $143,707 $2,756 4.51%
    39% 100 $11,130,000 $111,300 $2,581 4.61%
    36% 94 $13,700,000 $145,745 $2,839 4.69%
    37% 85 $11,285,000 $132,765 $2,898 4.55%
    >60% 83 $16,325,000 $196,687 $3,910 5.24%
    41% 79 $10,325,000 $130,696 $2,867 4.62%
    38% 75 $9,515,000 $126,867 $2,683 4.83%
    42% 71 $8,835,000 $124,437 $3,015 4.72%
    50-60% 70 $9,570,000 $136,714 $3,500 5.01%
    43% 69 $9,525,000 $138,043 $2,738 4.64%
    40% 62 $7,750,000 $125,000 $3,293 4.83%
    44% 59 $8,615,000 $146,017 $2,894 4.55%
    49% 58 $10,240,000 $176,552 $2,757 4.49%
    45% 52 $7,830,000 $150,577 $2,953 4.77%
    46% 51 $6,075,000 $119,118 $2,733 4.68%
    47% 43 $6,115,000 $142,209 $2,463 4.71%
    48% 30 $6,700,000 $223,333 $2,784 4.65%

    1st Source Bank lent most frequently to those with DTI ratios of 20-30%, with 716 originations. The next most common DTI ratio? 30-36%, with 465 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,475 $328,995,000 $132,927 $2,686 4.67%
    Not applicable 30 $46,240,000 $1,541,333 $0 5.08%
    Not provided 159 $26,965,000 $169,591 $2,697 4.64%
    Asian 33 $9,425,000 $285,606 $3,115 4.14%
    Black 60 $7,240,000 $120,667 $2,624 4.50%
    Other Asian 6 $1,280,000 $213,333 $2,432 4.60%
    American Indian 6 $640,000 $106,667 $3,246 4.07%
    Native Hawaiian or Islander 1 $155,000 $155,000 $0 5.00%
    Asian Indian 2 $120,000 $60,000 $0 4.35%

    Approval Rates

    Total approvals of all applications
    85.48%

    1st Source Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.69%

    1st Source Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,772 $421,060,000 $151,898

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $43,705,000 $3,973,182
    Single Family (1-4 Units):Manufactured 27 $1,225,000 $45,370
    Single Family (1-4 Units):Site-Built 2,734 $376,130,000 $137,575

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 615 $54,865,000 $89,211 $2,340 5.02%
    40-60% 343 $52,555,000 $153,222 $2,394 4.55%
    60-80% 609 $130,405,000 $214,130 $2,767 4.21%
    80-100% 575 $157,805,000 $274,443 $2,799 4.24%
    Over 100% 3 $3,405,000 $1,135,000 $6,534 4.57%
    Under 20% 627 $22,025,000 $35,128 $1,660 5.21%

    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 $9,015
    1st Source Bank 100 North Michigan Street, Suite B South Bend, IN 46601 Full Service B&M $1,456,594
    1st Source Bank 100 West Main Street Winamac, IN 46996 Full Service B&M $30,029
    1st Source Bank 101 Lincolnway East Mishawaka, IN 46544 Full Service B&M $60,251
    1st Source Bank 101 South Main Street Goshen, IN 46526 Full Service B&M $29,050
    1st Source Bank 10633 Coldwater Road Fort Wayne, IN 46845 Full Service B&M $38,225
    1st Source Bank 109 North Main Street North Liberty, IN 46554 Full Service B&M $27,490
    1st Source Bank 1100 Boyd Boulevard La Porte, IN 46350 Full Service B&M $86,457
    1st Source Bank 111 West Sigler Street Hebron, IN 46341 Full Service B&M $75,266
    1st Source Bank 120 Sanford School Road East Elkhart, IN 46514 Full Service Retail $12,227
    1st Source Bank 124 South Main Street Bluffton, IN 46714 Full Service B&M $54,274
    1st Source Bank 12460 State Road 23 Granger, IN 46530 Full Service B&M $62,940
    1st Source Bank 12850 State Rd 23 Granger, IN 46530 Full Service Retail $11,710
    1st Source Bank 131 East Franklin Street Elkhart, IN 46516 Full Service B&M $402,218
    1st Source Bank 133 North 4th Street Lafayette, IN 47901 Full Service B&M $60,602
    1st Source Bank 134 Lincoln Highway, West New Haven, IN 46774 Full Service B&M $33,066
    1st Source Bank 14 Indiana Avenue Valparaiso, IN 46383 Full Service B&M $166,806
    1st Source Bank 1409 West Plymouth Street Bremen, IN 46506 Full Service B&M $85,280
    1st Source Bank 1500 South Calumet Road Chesterton, IN 46304 Full Service B&M $85,014
    1st Source Bank 1600 East Market Street Nappanee, IN 46550 Full Service B&M $32,136
    1st Source Bank 1600 Hilltop Road St. Joseph, MI 49085 Full Service B&M $49,090
    1st Source Bank 1620 South U.S. 35 Knox, IN 46534 Full Service B&M $98,181
    1st Source Bank 1700 Mishawaka Avenue, Administration Building 183 South Bend, IN 46615 Full Service B&M $528
    1st Source Bank 1751 West Lexington Avenue Elkhart, IN 46514 Full Service B&M $36,655
    1st Source Bank 1800 Second Street, Suite 712 Sarasota, FL 34236 Full Service B&M $2,969
    1st Source Bank 1959 North Jefferson Street Huntington, IN 46750 Full Service B&M $25,246
    1st Source Bank 200 East Main Street, Suite 100 Fort Wayne, IN 46802 Full Service B&M $140,304
    1st Source Bank 200 West Michigan Avenue Kalamazoo, MI 49007 Full Service B&M $34,651
    1st Source Bank 2005 Laporte Ave. Valparaiso, IN 46383 Full Service B&M $41,209
    1st Source Bank 201 South Michigan St Lapaz, IN 46537 Full Service B&M $30,786
    1st Source Bank 2020 East Bristol Street Elkhart, IN 46514 Full Service B&M $45,770
    1st Source Bank 2044 W. St. Rd. 2 La Porte, IN 46350 Full Service B&M $33,795
    1st Source Bank 205 W. Jefferson Suite 404 South Bend, IN 46601 Full Service Cyber Office $7,678
    1st Source Bank 2060 East Ireland Road South Bend, IN 46614 Full Service B&M $101,984
    1st Source Bank 218 North Washington Street La Crosse, IN 46348 Full Service B&M $25,252
    1st Source Bank 221 South Main Street Kouts, IN 46347 Full Service B&M $40,676
    1st Source Bank 223 South Front Street Dowagiac, MI 49047 Full Service B&M $19,568
    1st Source Bank 2230 South Bend Avenue South Bend, IN 46635 Full Service B&M $85,146
    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 $32,438
    1st Source Bank 2356 W Morthland Drive Valparaiso, IN 46385 Full Service B&M $47,710
    1st Source Bank 2381 West Centre Ave. Portage, MI 49024 Full Service B&M $11,099
    1st Source Bank 2700 Calumet Avenue Valparaiso, IN 46383 Full Service B&M $59,251
    1st Source Bank 2804 E Center St Warsaw, IN 46580 Full Service B&M $18,626
    1st Source Bank 306 East Main Street Suite 100 Niles, MI 49120 Full Service B&M $38,124
    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 $192,535
    1st Source Bank 325 South Lake Street Warsaw, IN 46580 Full Service B&M $117,945
    1st Source Bank 3395 Willowcreek Road Portage, IN 46368 Full Service B&M $24,771
    1st Source Bank 3602 North Anthony Boulevard Fort Wayne, IN 46805 Full Service B&M $31,479
    1st Source Bank 3655 Portage Avenue South Bend, IN 46628 Full Service B&M $64,700
    1st Source Bank 3800 E. Mishawaka Road Elkhart, IN 46517 Full Service Retail $1,271
    1st Source Bank 516 Main Street Rochester, IN 46975 Full Service B&M $49,988
    1st Source Bank 3905 Franklin Street Michigan City, IN 46360 Full Service B&M $62,543
    1st Source Bank 3944 Mccarty Lane Lafayette, IN 47905 Full Service B&M $33,842
    1st Source Bank 4009 Red Arrow Highway Saint Joseph, MI 49085 Full Service B&M $20,211
    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 $59,536
    1st Source Bank 4105 Lincoln Way West South Bend, IN 46628 Full Service B&M $30,448
    1st Source Bank 411 Illinois Street Walkerton, IN 46574 Full Service B&M $48,502
    1st Source Bank 4505 West Western Avenue South Bend, IN 46619 Full Service B&M $58,588
    1st Source Bank 4594 Elkhart Rd. Elkhart, IN 46517 Full Service B&M $20,706
    1st Source Bank 4605 East Dupont Road Fort Wayne, IN 46825 Full Service B&M $17,565
    1st Source Bank 4720 Lincolnway East Mishawaka, IN 46544 Full Service B&M $54,097
    1st Source Bank 501 North Flynn Road Westville, IN 46391 Full Service B&M $31,313
    1st Source Bank 518 North Michigan Street Argos, IN 46501 Full Service B&M $27,661
    1st Source Bank 52990 State Road 933 South Bend, IN 46637 Full Service B&M $59,517
    1st Source Bank 5445 State Road 993 North, Student Center Room 157 Notre Dame, IN 46556 Full Service B&M $10,487
    1st Source Bank 555 East Jackson Blvd Elkhart, IN 46516 Full Service Retail $890
    1st Source Bank 5637 Cleveland Avenue Stevensville, MI 49127 Full Service Retail $11,782
    1st Source Bank 5719 Bluffton Road Fort Wayne, IN 46809 Full Service B&M $40,575
    1st Source Bank 6043 Central Avenue Portage, IN 46368 Full Service B&M $92,751
    1st Source Bank 630 Countryside Drive Columbia City, IN 46725 Full Service B&M $16,777
    1st Source Bank 6506 East State Boulevard Fort Wayne, IN 46815 Full Service B&M $44,507
    1st Source Bank 6909 North Grape Road Mishawaka, IN 46545 Full Service B&M $109,922
    1st Source Bank 715 Ship Street St. Joseph, MI 49085 Full Service B&M $27,137
    1st Source Bank 720 South 11th Street Niles, MI 49120 Full Service Retail $17,477
    1st Source Bank 7355 Heritage Square Drive Granger, IN 46530 Full Service Retail $14,768
    1st Source Bank 7821 Carnegie Blvd Fort Wayne, IN 46804 Full Service B&M $47,843
    1st Source Bank 801 West Wayne St Middlebury, IN 46540 Full Service B&M $13,277
    1st Source Bank 848 West Michigan Street New Carlisle, IN 46552 Full Service B&M $89,546
    1st Source Bank 926 Erskine Plaza South Bend, IN 46614 Full Service Retail $14,005

    For 2019, 1st Source Bank had 82 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $282,877
    Net interest income $229,547
    Total noninterest income $103,232
    Gross Fiduciary activities income $20,692
    Service charges on deposit accounts $11,010
    Trading account gains and fees $0
    Additional Noninterest Income $71,530
    Pre-tax net operating income $125,539
    Securities gains (or losses, -) $0
    Income before extraordinary items $96,413
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $96,413
    Minority interest net income $55
    Net income $96,358
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $96,413

    1st Source Bank's gross interest income from loans was $282,877,000.
    1st Source Bank's net interest income from loans was $229,547,000.
    1st Source Bank's fee based income from loans was $11,010,000.
    1st Source Bank's net income from loans was $96,358,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $53,330
    Provision for credit losses $15,833
    Total noninterest expense $191,407
    Salaries and employee benefits $96,798
    Premises and equipment expense $17,954
    Additional noninterest expense $76,655
    Applicable income taxes $29,126
    Net charge-offs $5,048
    Cash dividends $46,735

    1st Source Bank's interest expense for loans was $53,330,000.
    1st Source Bank's payroll and benefits expense were $96,798,000.
    1st Source Bank's property, plant and equipment expenses $17,954,000.

    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 $5,357,828
    Deposits held in domestic offices $5,357,828
    Deposits by Individuals, partnerships, and corporations $4,507,753
    Deposits by U.S. Government $25
    Deposits by States and political subdivisions in the U.S. $824,373
    Deposits by Commercial banks and other depository institutions in U.S. $25,677
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $322,699
    Demand deposits $322,699
    Nontransaction accounts $5,035,129
    Money market deposit accounts (MMDAs) $2,955,737
    Other savings deposits (excluding MMDAs) $440,135
    Total time deposits $1,639,259
    Total time and savings deposits $5,035,129
    Noninterest-bearing deposits $1,216,837
    Interest-bearing deposits $4,140,991
    Retail deposits $4,634,464
    IRAs and Keogh plan accounts $165,787
    Brokered deposits $396,502
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,622,194
    Cash & Balances due from depository institutions $88,996
    Interest-bearing balances $21,781
    Total securities $1,040,583
    Federal funds sold & reverse repurchase $0
    Net loans and leases $4,994,550
    Loan and leases loss allowance $111,254
    Trading account assets $22,273
    Bank premises and fixed assets $79,448
    Other real estate owned $521
    Goodwill and other intangibles $87,471
    All other assets $308,352

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,622,194
    Total Liabilities $5,795,643
    Total deposits $5,357,828
    Interest-bearing deposits $4,140,991
    Deposits held in domestic offices $5,357,828
    % insured (estimated) $57
    Federal funds purchased and repurchase agreements $227,743
    Trading liabilities $22,651
    Other borrowed funds $94,389
    Subordinated debt $0
    All other liabilities $93,032

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $4,994,550
    Loan and leases loss allowance $111,254
    Total loans and leases (domestic) $5,105,804
    All real estate loans $1,548,770
    Real estate loans in domestic offices $1,548,770
    Construction and development loans $130,178
    Residential 1-4 family construction $17,239
    Other construction, all land development and other land $112,939
    Loans secured by nonfarm nonresidential properties $737,970
    Nonfarm nonresidential secured by owner-occupied properties $403,558
    Commercial real estate & other non-farm, non-residential $334,412
    Multifamily residential real estate $14,394
    1-4 family residential loans $565,207
    Farmland loans $101,021
    Loans held in foreign offices $0
    Farm loans $55,618
    Commercial and industrial loans $3,157,048
    To non-U.S. addressees $80,021
    Loans to individuals $139,443
    Credit card loans $0
    Related Plans $23,390
    Consumer Auto Loans $61,023
    Other loans to individuals $55,030
    All other loans & leases $204,925
    Loans to foreign governments and official institutions $0
    Other loans $42,361
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $12,420
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $10,238
    Non 1-4 family restructured loans & leases $9,901
    Total loans and leases (foreign) $0

    1st Source Bank had $4,994,550,000 of loans outstanding in 2019. $1,548,770,000 of loans were in real estate loans. $130,178,000 of loans were in development loans. $14,394,000 of loans were in multifamily mortgage loans. $565,207,000 of loans were in 1-4 family mortgage loans. $55,618,000 of loans were in farm loans. $0 of loans were in credit card loans. $61,023,000 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 1,034 $203,464 $196,774
    Nonfarm, nonresidential loans - <$100k 237 $9,767 $41,211
    Nonfarm, nonresidential loans - $100-250k 369 $41,245 $111,775
    Nonfarm, nonresidential loans - $250k-1MM 428 $152,452 $356,196
    Commercial & Industrial, US addressed loans - <$1MM 3,242 $336,400 $103,763
    Commercial & Industrial, US addressed loans - <$100k 1,635 $32,364 $19,794
    Commercial & Industrial, US addressed loans - $100-250k 714 $60,427 $84,632
    Commercial & Industrial, US addressed loans - $250k-1MM 893 $243,609 $272,798
    Farmland loans - <$1MM 214 $23,608 $110,318
    Farmland loans - <$100k 71 $2,719 $38,296
    Farmland loans - $100-250k 91 $9,308 $102,286
    Farmland loans - $250k-1MM 52 $11,581 $222,712
    Agriculture operations loans - <$1MM 224 $15,316 $68,375
    Agriculture operations loans - <$100k 119 $2,753 $23,134
    Agriculture operations loans - $100-250k 64 $4,763 $74,422
    Agriculture operations loans - $250k-1MM 41 $7,800 $190,244