1st Source Corporation has been ranked near the top of the 2014 Bank Performance Scorecard by Bank Director Magazine. 1st Source ranked #8 in the nation of 93 banks in the $1-$5 billion asset range.
“1st Source is pleased to be recognized for our sound financial performance,” said Christopher J. Murphy III, Chairman and CEO. “By remaining focused on our goals of being distinctively convenient, offering straight talk and sound advice and keeping our client’s best interests in mind, we continue to be profitable and show strong results.”
The Bank Performance Scorecard is a ranking of the 200 largest publicly traded bank holding companies in the United States, based on 2013 financial data. The banks are split into three asset categories and ranked using five metrics that measure profitability, capital strength and credit quality. According to Bank Director Magazine, banks at the top of this year’s list are more profitable, have more loan growth, and higher levels of capital than a year ago.
Additionally, 1st Source has outperformed all similar sized Indiana banks in Pre-Provision Net Revenue Ratio, according to BankRegData.com. 1st Source’s rate of 2.28 exceeds the 1.75 average rate of similar sized Indiana banks.