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 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 by origination volume include: South Bend, Elkhart, Chicago, Fort Wayne, and Warsaw among others. We have data for 57 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% 5/5/24
    30 Year Conventional Purchase 6.67% 5/5/24
    30 Year Conventional Refi 6.66% 5/5/24
    30 Year Cash-out Refi 6.90% 5/5/24
    30 Year FHA Purchase 7.82% 5/5/24
    30 Year FHA Refi 7.67% 5/5/24
    30 Year VA Purchase 6.35% 5/5/24
    30 Year VA Refi 6.27% 5/5/24
    15 Year Conventional Purchase 6.15% 5/5/24
    15 Year Conventional Refi 6.18% 5/5/24
    15 Year Cash-out Refi 6.18% 5/5/24
    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

    3,577

    Origination Dollar Volume (All Markets)

    $599,255,000

    Employee count

    1,174 Show all (9) 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) 1,224 $205,140,000 $167,598 $2,648 3.52%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 452 $78,240,000 $173,097 $2,638 3.56%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 364 $60,580,000 $166,429 $2,438 3.54%
    FORT WAYNE, IN (FHA|USDA|VA) 313 $43,265,000 $138,227 $2,462 3.65%
    Warsaw, IN (FHA|USDA|VA) 150 $29,000,000 $193,333 $2,631 3.55%
    NILES, MI (FHA|USDA|VA) 117 $28,005,000 $239,359 $3,178 3.49%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 184 $23,840,000 $129,565 $2,567 3.67%
    Outside of Metro Areas 167 $20,935,000 $125,359 $2,611 3.66%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 103 $19,705,000 $191,311 $2,814 3.37%
    Plymouth, IN (FHA|USDA|VA) 161 $18,355,000 $114,006 $2,626 3.62%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 40 $10,690,000 $267,250 $3,198 3.46%
    Huntington, IN (FHA|USDA|VA) 72 $8,110,000 $112,639 $2,232 3.72%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 20 $5,670,000 $283,500 $2,729 3.21%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 15 $4,305,000 $287,000 $4,604 3.84%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 8 $3,860,000 $482,500 $5,432 3.50%
    Auburn, IN (FHA|USDA|VA) 23 $3,445,000 $149,783 $2,194 3.70%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $2,850,000 $712,500 $6,747 3.47%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 6 $2,800,000 $466,667 $4,967 2.96%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 12 $2,640,000 $220,000 $4,825 3.38%
    Sturgis, MI (FHA|USDA|VA) 11 $2,225,000 $202,273 $2,734 3.39%
    Bluffton, IN (FHA|USDA|VA) 23 $2,175,000 $94,565 $2,049 3.92%
    Traverse City, MI (FHA|USDA|VA) 6 $2,100,000 $350,000 $3,536 3.50%
    Angola, IN (FHA|USDA|VA) 13 $2,055,000 $158,077 $2,119 3.62%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,940,000 $970,000 $7,736 3.25%
    Kendallville, IN (FHA|USDA|VA) 12 $1,920,000 $160,000 $2,993 3.56%
    Key West, FL (FHA|USDA|VA) 1 $1,875,000 $1,875,000 $12,936 3.25%
    BLOOMINGTON, IN (FHA|USDA|VA) 4 $1,280,000 $320,000 $4,337 2.97%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $1,220,000 $610,000 $4,929 3.19%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $1,210,000 $302,500 $4,287 3.13%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 6 $900,000 $150,000 $2,390 3.68%
    Holland, MI (FHA|USDA|VA) 4 $850,000 $212,500 $3,421 3.22%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $595,000 $595,000 $4,821 3.63%
    Crawfordsville, IN (FHA|USDA|VA) 5 $595,000 $119,000 $2,086 3.46%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $585,000 $585,000 $6,261 3.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $570,000 $285,000 $4,289 3.00%
    ANN ARBOR, MI (FHA|USDA|VA) 2 $560,000 $280,000 $2,921 3.75%
    Wabash, IN (FHA|USDA|VA) 5 $525,000 $105,000 $2,669 3.38%
    KOKOMO, IN (FHA|USDA|VA) 3 $505,000 $168,333 $2,032 3.46%
    Decatur, IN (FHA|USDA|VA) 7 $455,000 $65,000 $2,166 3.74%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $415,000 $138,333 $2,525 4.21%
    Frankfort, IN (FHA|USDA|VA) 4 $380,000 $95,000 $3,470 3.44%
    JACKSON, MI (FHA|USDA|VA) 2 $330,000 $165,000 $3,754 3.31%
    TERRE HAUTE, IN (FHA|USDA|VA) 1 $285,000 $285,000 $3,086 2.50%
    Logansport, IN (FHA|USDA|VA) 3 $265,000 $88,333 $2,363 3.21%
    Greensburg, IN (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.75%
    Ludington, MI (FHA|USDA|VA) 1 $225,000 $225,000 $2,588 3.13%
    Coldwater, MI (FHA|USDA|VA) 1 $215,000 $215,000 $2,092 2.50%
    OCALA, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,493 4.13%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $175,000 $175,000 $2,632 3.00%
    ROCKFORD, IL (FHA|USDA|VA) 1 $175,000 $175,000 $2,109 3.00%
    Marion, IN (FHA|USDA|VA) 1 $155,000 $155,000 $6,982 3.25%
    MUNCIE, IN (FHA|USDA|VA) 1 $135,000 $135,000 $0 4.13%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,240 2.75%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.13%
    Peru, IN (FHA|USDA|VA) 2 $90,000 $45,000 $0 4.13%
    LOUISVILLE, KY (FHA|USDA|VA) 2 $80,000 $40,000 $0 4.63%
    1st Source Bank's top markets include South Bend, Elkhart, Chicago, Fort Wayne, and Warsaw 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.

    Chiphone Federal Credit Union
    Similarity Rank: 96
    KALSEE CREDIT UNION
    Similarity Rank: 162
    Industrial Federal Credit Union
    Similarity Rank: 203
    Glenview State Bank
    Similarity Rank: 312
    Liberty Bank for Savings
    Similarity Rank: 312
    Fire Police City County Federal Credit Union
    Similarity Rank: 315
    Hendricks County Bank and Trust Company
    Similarity Rank: 376
    Circle Federal Credit Union
    Similarity Rank: 405
    ProFed Federal Credit Union
    Similarity Rank: 408
    Independent Federal Credit Union
    Similarity Rank: 441

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,176 $475,980,000 $218,741 $2,597 3.13%
    HELOC 1,312 $110,150,000 $83,956 n/a 4.30%
    FHA 76 $10,940,000 $143,947 $4,775 3.11%
    VA 10 $1,790,000 $179,000 $4,772 3.14%
    USDA 3 $395,000 $131,667 $3,126 3.17%

    For 2020, 1st Source Bank's most frequently originated type of loan was Conventional, with 2,176 originations. Their 2nd most popular type was HELOC, with 1,312 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,443 $248,945,000 $172,519 $2,336 3.41%
    Home Purchase 670 $149,870,000 $223,687 $3,040 3.42%
    Cash Out Refi 664 $143,660,000 $216,355 $2,874 3.17%
    Other 462 $38,660,000 $83,680 $2,359 4.28%
    Home Improvement 338 $18,120,000 $53,609 $2,333 4.26%

    For 2020, 1st Source Bank's most frequently cited loan purpose was Refi, with 1,443 originations. The 2nd most popular reason was Home Purchase, with 670 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,398 $139,560,000 $99,828 $3,409 4.24%
    30 Year 1,140 $257,240,000 $225,649 $2,827 3.34%
    15 Year 896 $176,480,000 $196,964 $2,501 2.78%
    20 Year 61 $10,075,000 $165,164 $2,355 3.25%
    10 Year 55 $8,065,000 $146,636 $2,227 3.31%
    5 Year 17 $4,945,000 $290,882 $0 4.62%
    1 Year 10 $2,890,000 $289,000 $1,338 5.29%

    For 2020, 1st Source Bank's most frequently cited loan duration was Other, with 1,398 originations. The 2nd most popular length was 30 Year, with 1,140 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,414 $286,750,000 $202,793
    $1k-2k 612 $141,150,000 $230,637
    $2k-3k 99 $25,915,000 $261,768
    $3k-4k 40 $12,500,000 $312,500
    $4k-5k 9 $3,805,000 $422,778
    $5k+ 7 $2,785,000 $397,857

    1st Source Bank's average total fees were $2,827, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,414 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,744 $329,960,000 $189,197
    2.5-3% 794 $143,260,000 $180,428
    4-5% 680 $64,560,000 $94,941
    <2.5% 302 $55,960,000 $185,298
    5-6% 54 $5,410,000 $100,185
    6-7% 3 $105,000 $35,000

    During 2020, 1st Source Bank's average interest rate for loans was 3.34%, while their most frequently originated rate bucket for loans was 3-4%, with 1,744 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,471 $74,505,000 $50,649 $2,223 3.93%
    $100k-200k 1,147 $163,655,000 $142,681 $2,533 3.31%
    $200k-400k 700 $191,230,000 $273,186 $2,813 3.26%
    $400k-600k 153 $73,245,000 $478,725 $3,396 3.23%
    $600k-1MM 84 $62,980,000 $749,762 $4,080 3.36%
    $1MM+ 22 $33,640,000 $1,529,091 $6,628 3.56%

    2020 saw 1st Source Bank place emphasis on $100,000 or less loans with 1,471 originations, totaling $74,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 704 $54,490,000 $77,401 $2,367 3.60%
    $50k-75k 664 $71,090,000 $107,063 $2,564 3.58%
    $100k-150k 572 $85,220,000 $148,986 $2,566 3.59%
    $75k-100k 483 $63,225,000 $130,901 $2,656 3.56%
    $250k+ 480 $182,550,000 $380,313 $3,378 3.49%
    $150k-250k 469 $108,155,000 $230,608 $2,816 3.49%

    1st Source Bank lent most frequently to those with incomes in the $50k or less range, with 704 originations. The second most popular income band? $50k-75k, with 664 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 1,813 $227,765,000 $125,629 $2,557 3.94%
    20-30% 656 $134,990,000 $205,777 $2,572 3.07%
    30-36% 396 $77,190,000 $194,924 $2,647 3.16%
    40% 63 $14,465,000 $229,603 $2,944 3.25%
    38% 63 $13,195,000 $209,444 $2,997 3.22%
    39% 62 $12,440,000 $200,645 $2,516 3.25%
    36% 59 $14,445,000 $244,831 $2,667 3.17%
    41% 58 $10,660,000 $183,793 $2,655 3.16%
    43% 55 $11,115,000 $202,091 $2,921 3.26%
    44% 55 $8,985,000 $163,364 $2,689 3.18%
    37% 53 $10,405,000 $196,321 $2,692 3.24%
    42% 47 $7,805,000 $166,064 $2,751 3.21%
    45% 37 $9,735,000 $263,108 $3,027 3.25%
    47% 36 $10,310,000 $286,389 $3,769 3.05%
    49% 27 $4,785,000 $177,222 $2,844 3.13%
    48% 26 $6,060,000 $233,077 $2,846 3.24%
    46% 24 $5,690,000 $237,083 $2,926 3.08%
    50-60% 7 $1,335,000 $190,714 $6,814 3.00%
    >60% 7 $3,735,000 $533,571 $4,087 3.21%

    1st Source Bank lent most frequently to those with DTI ratios of <20%, with 1,813 originations. The next most common DTI ratio? 20-30%, with 656 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,134 $499,920,000 $159,515 $2,666 3.57%
    Not provided 271 $59,735,000 $220,424 $2,739 3.44%
    Asian 56 $15,680,000 $280,000 $3,141 3.44%
    Black 79 $11,405,000 $144,367 $2,751 3.31%
    Not applicable 16 $8,850,000 $553,125 $0 4.50%
    Asian Indian 3 $1,495,000 $498,333 $2,731 3.00%
    American Indian 13 $1,125,000 $86,538 $2,692 3.69%
    Other Asian 1 $495,000 $495,000 $2,429 2.88%
    Chinese 1 $315,000 $315,000 $5,601 3.88%
    Native Hawaiian or Islander 3 $235,000 $78,333 $1,894 3.71%

    Approval Rates

    Total approvals of all applications
    88.44%

    1st Source Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.11%

    1st Source Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 3,577 $599,255,000 $167,530

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $7,530,000 $1,255,000
    Single Family (1-4 Units):Manufactured 18 $920,000 $51,111
    Single Family (1-4 Units):Site-Built 3,553 $590,805,000 $166,283

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 156 $23,290,000 $149,295 $2,545 2.95%
    40-60% 454 $75,430,000 $166,145 $2,375 2.92%
    60-80% 986 $218,800,000 $221,907 $2,663 3.08%
    80-100% 628 $160,690,000 $255,876 $2,988 3.31%
    Over 100% 1 $245,000 $245,000 $11,217 3.00%
    Under 20% 17 $1,005,000 $59,118 $1,534 4.53%

    Complaints

    Bank Name Product Issue 2020 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 Struggling to pay 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 $9,573
    1st Source Bank 100 North Michigan Street, Suite B South Bend, IN 46601 Full Service B&M $1,527,075
    1st Source Bank 100 West Main Street Winamac, IN 46996 Full Service B&M $34,156
    1st Source Bank 101 Lincolnway East Mishawaka, IN 46544 Full Service B&M $68,103
    1st Source Bank 101 South Main Street Goshen, IN 46526 Full Service B&M $45,538
    1st Source Bank 104 South Jackson Street Auburn, IN 46706 Full Service B&M $6,217
    1st Source Bank 10633 Coldwater Road Fort Wayne, IN 46845 Full Service B&M $39,118
    1st Source Bank 109 North Main Street North Liberty, IN 46554 Full Service B&M $28,493
    1st Source Bank 1100 Boyd Boulevard La Porte, IN 46350 Full Service B&M $122,804
    1st Source Bank 111 West Sigler Street Hebron, IN 46341 Full Service B&M $84,011
    1st Source Bank 120 Sanford School Road East Elkhart, IN 46514 Full Service Retail $13,432
    1st Source Bank 124 South Main Street Bluffton, IN 46714 Full Service B&M $50,762
    1st Source Bank 12460 State Road 23 Granger, IN 46530 Full Service B&M $74,042
    1st Source Bank 12850 State Rd 23 Granger, IN 46530 Full Service Retail $14,181
    1st Source Bank 131 East Franklin Street Elkhart, IN 46516 Full Service B&M $456,239
    1st Source Bank 133 North 4th Street Lafayette, IN 47901 Full Service B&M $80,641
    1st Source Bank 134 Lincoln Highway, West New Haven, IN 46774 Full Service B&M $33,642
    1st Source Bank 14 Indiana Avenue Valparaiso, IN 46383 Full Service B&M $182,861
    1st Source Bank 1409 West Plymouth Street Bremen, IN 46506 Full Service B&M $97,752
    1st Source Bank 1500 South Calumet Road Chesterton, IN 46304 Full Service B&M $94,630
    1st Source Bank 1600 East Market Street Nappanee, IN 46550 Full Service B&M $46,050
    1st Source Bank 1600 Hilltop Road St. Joseph, MI 49085 Full Service B&M $43,385
    1st Source Bank 1620 South U.S. 35 Knox, IN 46534 Full Service B&M $109,086
    1st Source Bank 218 North Washington Street La Crosse, IN 46348 Full Service B&M $27,985
    1st Source Bank 1700 Mishawaka Avenue, Administration Building 183 South Bend, IN 46615 Full Service B&M $1,151
    1st Source Bank 1751 West Lexington Avenue Elkhart, IN 46514 Full Service B&M $44,810
    1st Source Bank 1800 Second Street, Suite 712 Sarasota, FL 34236 Full Service B&M $3,800
    1st Source Bank 1959 North Jefferson Street Huntington, IN 46750 Full Service B&M $25,460
    1st Source Bank 200 East Main Street, Suite 100 Fort Wayne, IN 46802 Full Service B&M $157,040
    1st Source Bank 200 West Michigan Avenue Kalamazoo, MI 49007 Full Service B&M $53,854
    1st Source Bank 2005 Laporte Ave. Valparaiso, IN 46383 Full Service B&M $49,506
    1st Source Bank 201 South Michigan St Lapaz, IN 46537 Full Service B&M $33,249
    1st Source Bank 2020 East Bristol Street Elkhart, IN 46514 Full Service B&M $55,717
    1st Source Bank 2044 W. St. Rd. 2 La Porte, IN 46350 Full Service B&M $41,895
    1st Source Bank 205 W. Jefferson Suite 404 South Bend, IN 46601 Full Service Cyber Office $7,165
    1st Source Bank 2060 East Ireland Road South Bend, IN 46614 Full Service B&M $115,874
    1st Source Bank 221 South Main Street Kouts, IN 46347 Full Service B&M $46,424
    1st Source Bank 223 South Front Street Dowagiac, MI 49047 Full Service B&M $21,603
    1st Source Bank 2230 South Bend Avenue South Bend, IN 46635 Full Service B&M $89,026
    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 $34,455
    1st Source Bank 2356 W Morthland Drive Valparaiso, IN 46385 Full Service B&M $50,823
    1st Source Bank 2381 West Centre Ave. Portage, MI 49024 Full Service B&M $12,544
    1st Source Bank 2700 Calumet Avenue Valparaiso, IN 46383 Full Service B&M $79,798
    1st Source Bank 2804 E Center St Warsaw, IN 46580 Full Service B&M $23,582
    1st Source Bank 306 East Main Street Suite 100 Niles, MI 49120 Full Service B&M $41,606
    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 $205,949
    1st Source Bank 325 South Lake Street Warsaw, IN 46580 Full Service B&M $112,183
    1st Source Bank 3395 Willowcreek Road Portage, IN 46368 Full Service B&M $32,601
    1st Source Bank 3602 North Anthony Boulevard Fort Wayne, IN 46805 Full Service B&M $33,782
    1st Source Bank 3655 Portage Avenue South Bend, IN 46628 Full Service B&M $72,271
    1st Source Bank 3800 E. Mishawaka Road Elkhart, IN 46517 Full Service Retail $1,461
    1st Source Bank 3905 Franklin Street Michigan City, IN 46360 Full Service B&M $68,650
    1st Source Bank 3944 Mccarty Lane Lafayette, IN 47905 Full Service B&M $40,492
    1st Source Bank 4009 Red Arrow Highway Saint Joseph, MI 49085 Full Service B&M $24,268
    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 $72,780
    1st Source Bank 4105 Lincoln Way West South Bend, IN 46628 Full Service B&M $36,248
    1st Source Bank 411 Illinois Street Walkerton, IN 46574 Full Service B&M $50,844
    1st Source Bank 4505 West Western Avenue South Bend, IN 46619 Full Service B&M $63,052
    1st Source Bank 4594 Elkhart Rd. Elkhart, IN 46517 Full Service B&M $23,791
    1st Source Bank 4605 East Dupont Road Fort Wayne, IN 46825 Full Service B&M $20,554
    1st Source Bank 4720 Lincolnway East Mishawaka, IN 46544 Full Service B&M $59,769
    1st Source Bank 501 North Flynn Road Westville, IN 46391 Full Service B&M $33,960
    1st Source Bank 516 Main Street Rochester, IN 46975 Full Service B&M $60,628
    1st Source Bank 518 North Michigan Street Argos, IN 46501 Full Service B&M $29,589
    1st Source Bank 52990 State Road 933 South Bend, IN 46637 Full Service B&M $64,353
    1st Source Bank 5445 State Road 993 North, Student Center Room 157 Notre Dame, IN 46556 Full Service B&M $12,490
    1st Source Bank 5637 Cleveland Avenue Stevensville, MI 49127 Full Service Retail $12,003
    1st Source Bank 5719 Bluffton Road Fort Wayne, IN 46809 Full Service B&M $34,440
    1st Source Bank 6043 Central Avenue Portage, IN 46368 Full Service B&M $95,437
    1st Source Bank 630 Countryside Drive Columbia City, IN 46725 Full Service B&M $17,930
    1st Source Bank 6506 East State Boulevard Fort Wayne, IN 46815 Full Service B&M $49,497
    1st Source Bank 6909 North Grape Road Mishawaka, IN 46545 Full Service B&M $132,190
    1st Source Bank 715 Ship Street St. Joseph, MI 49085 Full Service B&M $32,295
    1st Source Bank 720 South 11th Street Niles, MI 49120 Full Service Retail $23,133
    1st Source Bank 7355 Heritage Square Drive Granger, IN 46530 Full Service Retail $17,538
    1st Source Bank 7821 Carnegie Blvd Fort Wayne, IN 46804 Full Service B&M $47,299
    1st Source Bank 809 West Wayne Street Middlebury, IN 46540 Full Service B&M $18,010
    1st Source Bank 848 West Michigan Street New Carlisle, IN 46552 Full Service B&M $99,829
    1st Source Bank 926 Erskine Plaza South Bend, IN 46614 Full Service Retail $15,484

    For 2020, 1st Source Bank had 82 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $263,031
    Net interest income $231,178
    Total noninterest income $105,043
    Gross Fiduciary activities income $21,114
    Service charges on deposit accounts $9,485
    Trading account gains and fees $0
    Additional Noninterest Income $74,444
    Pre-tax net operating income $114,732
    Securities gains (or losses, -) $279
    Income before extraordinary items $88,384
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $88,384
    Minority interest net income $23
    Net income $88,361
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $88,163

    1st Source Bank's gross interest income from loans was $263,031,000.
    1st Source Bank's net interest income from loans was $231,178,000.
    1st Source Bank's fee based income from loans was $9,485,000.
    1st Source Bank's net income from loans was $88,361,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $31,853
    Provision for credit losses $36,001
    Total noninterest expense $185,488
    Salaries and employee benefits $101,256
    Premises and equipment expense $14,000
    Additional noninterest expense $70,232
    Applicable income taxes $26,627
    Net charge-offs $9,185
    Cash dividends $46,207

    1st Source Bank's interest expense for loans was $31,853,000.
    1st Source Bank's payroll and benefits expense were $101,256,000.
    1st Source Bank's property, plant and equipment expenses $14,000,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    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 1.0%
    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 $5,946,496
    Deposits held in domestic offices $5,946,496
    Deposits by Individuals, partnerships, and corporations $5,079,921
    Deposits by U.S. Government $13
    Deposits by States and political subdivisions in the U.S. $825,615
    Deposits by Commercial banks and other depository institutions in U.S. $40,947
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $396,606
    Demand deposits $396,606
    Nontransaction accounts $5,549,890
    Money market deposit accounts (MMDAs) $3,844,479
    Other savings deposits (excluding MMDAs) $549,601
    Total time deposits $1,155,810
    Total time and savings deposits $5,549,890
    Noninterest-bearing deposits $1,636,652
    Interest-bearing deposits $4,309,844
    Retail deposits $5,509,659
    IRAs and Keogh plan accounts $160,226
    Brokered deposits $226,564
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $7,319,441
    Cash & Balances due from depository institutions $247,692
    Interest-bearing balances $173,506
    Total securities $1,197,467
    Federal funds sold & reverse repurchase $0
    Net loans and leases $5,361,532
    Loan and leases loss allowance $140,654
    Trading account assets $52,872
    Bank premises and fixed assets $74,845
    Other real estate owned $359
    Goodwill and other intangibles $87,053
    All other assets $297,621

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $7,319,441
    Total Liabilities $6,416,623
    Total deposits $5,946,496
    Interest-bearing deposits $4,309,844
    Deposits held in domestic offices $5,946,496
    % insured (estimated) $57
    Federal funds purchased and repurchase agreements $256,839
    Trading liabilities $53,900
    Other borrowed funds $57,494
    Subordinated debt $0
    All other liabilities $101,894

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $5,361,532
    Loan and leases loss allowance $140,654
    Total loans and leases (domestic) $5,502,186
    All real estate loans $1,548,616
    Real estate loans in domestic offices $1,548,616
    Construction and development loans $142,480
    Residential 1-4 family construction $19,492
    Other construction, all land development and other land $122,988
    Loans secured by nonfarm nonresidential properties $753,647
    Nonfarm nonresidential secured by owner-occupied properties $387,910
    Commercial real estate & other non-farm, non-residential $365,737
    Multifamily residential real estate $22,731
    1-4 family residential loans $530,517
    Farmland loans $99,241
    Loans held in foreign offices $0
    Farm loans $53,106
    Commercial and industrial loans $3,557,399
    To non-U.S. addressees $98,960
    Loans to individuals $131,458
    Credit card loans $0
    Related Plans $24,038
    Consumer Auto Loans $58,286
    Other loans to individuals $49,134
    All other loans & leases $211,607
    Loans to foreign governments and official institutions $0
    Other loans $71,168
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $14,041
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $329
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    1st Source Bank had $5,361,532,000 of loans outstanding in 2020. $1,548,616,000 of loans were in real estate loans. $142,480,000 of loans were in development loans. $22,731,000 of loans were in multifamily mortgage loans. $530,517,000 of loans were in 1-4 family mortgage loans. $53,106,000 of loans were in farm loans. $0 of loans were in credit card loans. $58,286,000 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 977 $202,501 $207,268
    Nonfarm, nonresidential loans - <$100k 210 $8,512 $40,533
    Nonfarm, nonresidential loans - $100-250k 324 $34,911 $107,750
    Nonfarm, nonresidential loans - $250k-1MM 443 $159,078 $359,093
    Commercial & Industrial, US addressed loans - <$1MM 4,384 $432,120 $98,568
    Commercial & Industrial, US addressed loans - <$100k 2,442 $53,583 $21,942
    Commercial & Industrial, US addressed loans - $100-250k 909 $86,666 $95,342
    Commercial & Industrial, US addressed loans - $250k-1MM 1,033 $291,871 $282,547
    Farmland loans - <$1MM 192 $21,778 $113,427
    Farmland loans - <$100k 57 $2,361 $41,421
    Farmland loans - $100-250k 84 $8,592 $102,286
    Farmland loans - $250k-1MM 51 $10,825 $212,255
    Agriculture operations loans - <$1MM 219 $13,282 $60,648
    Agriculture operations loans - <$100k 124 $2,972 $23,968
    Agriculture operations loans - $100-250k 54 $3,580 $66,296
    Agriculture operations loans - $250k-1MM 41 $6,730 $164,146