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. 1st Source Bank has a low ratio of conventional loans. Their top markets by origination volume include: South Bend, Elkhart, Chicago, Fort Wayne, and Kalamazoo among others. We have data for 61 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% 4/21/24
    30 Year Conventional Purchase 6.67% 4/21/24
    30 Year Conventional Refi 6.66% 4/21/24
    30 Year Cash-out Refi 6.90% 4/21/24
    30 Year FHA Purchase 7.82% 4/21/24
    30 Year FHA Refi 7.67% 4/21/24
    30 Year VA Purchase 6.35% 4/21/24
    30 Year VA Refi 6.27% 4/21/24
    15 Year Conventional Purchase 6.15% 4/21/24
    15 Year Conventional Refi 6.18% 4/21/24
    15 Year Cash-out Refi 6.18% 4/21/24
    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

    3,119

    Origination Dollar Volume (All Markets)

    $515,945,000

    Employee count

    1,131 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) 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, KY (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.

    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.

    Edgewater Bank
    Similarity Rank: 44
    First Savings Bank of Hegewisch
    Similarity Rank: 45
    Liberty Bank for Savings
    Similarity Rank: 153
    Chiphone Federal Credit Union
    Similarity Rank: 222
    Security Federal Savings Bank
    Similarity Rank: 238
    The Riddell National Bank
    Similarity Rank: 252
    Mutual Savings Bank
    Similarity Rank: 264
    KALSEE CREDIT UNION
    Similarity Rank: 310
    BEACON CREDIT UNION
    Similarity Rank: 396
    Crossroads Bank
    Similarity Rank: 440

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,774 $394,550,000 $222,407 $2,689 2.99%
    HELOC 1,279 $112,395,000 $87,877 n/a 3.82%
    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%
    Conventional 1 $145,000 $145,000 $0 4.27%

    For 2021, 1st Source Bank's most frequently originated type of loan was Conventional, with 1,774 originations. Their 2nd most popular type was HELOC, with 1,279 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, 1st Source Bank's most frequently cited loan purpose was Refi, with 1,004 originations. The 2nd most popular reason was 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 2021, 1st Source Bank's most frequently cited loan duration was Other, with 1,372 originations. The 2nd most popular length was 30 Year, with 924 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 42 $13,530,000 $322,143
    $4k-5k 10 $4,160,000 $416,000
    $5k+ 7 $2,685,000 $383,571

    1st Source Bank's average total fees were $2,957, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.27%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    87.49%

    1st Source Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.26%

    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 North Michigan Street, Suite B South Bend, IN 46601 Full Service B&M $1,495,362
    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

    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