1st Source Bank Celebrates 10 Years Of Outstanding Lending Leadership With Award Recognition
January 9, 2023
Trending News ☀️
1st Source Intrinsic Value – 1st Source ($NASDAQ:SRCE) Corporation is a publicly traded bank holding company based in South Bend, Indiana. For 10 years, 1st Source has been a leader in the lending industry with its commitment to providing customers with quality financial products, services and advice. This award is given in recognition of the bank’s commitment to helping small businesses succeed through creative lending solutions. This honor recognizes the bank’s commitment to helping small businesses grow and succeed through innovative and tailored lending solutions.
From helping small businesses get access to capital to providing competitive loan rates and terms, 1st Source Bank has become a leader in the lending industry. For 10 years, 1st Source Bank has demonstrated excellence in lending leadership and has been recognized by leading organizations for its commitment to helping customers achieve their financial goals. With its commitment to providing quality financial products, services and advice, 1st Source Bank is well-positioned to continue to lead the lending industry for years to come.
Price History
The news of the recognition has been mostly positive, with people praising the bank’s commitment to helping grow their local economy. On Thursday, 1ST SOURCE stock opened at $52.3 and closed at $52.1, down by 1.3% from the previous closing price of 52.8.
However, this small drop in stock price did not dampen the enthusiasm of the celebration and recognition of the bank’s decade-long journey. The award presentation was attended by many distinguished guests from the banking industry and other local businesses. During the ceremony, 1ST SOURCE Bank was praised for its lending leadership and for its dedication in helping local businesses, individuals, and other organizations. The event was a great success and all the guests enjoyed the festivities. 1ST SOURCE Bank has made a huge impact in the local economy over the past 10 years. They have provided loans and financial support to businesses and people who would not have been able to get access to capital otherwise. The bank has also provided financial literacy classes to help individuals and families become more financially responsible. Their commitment to helping their local economy is commendable, and it is clear that they have earned their award recognition. The bank is well-deserving of its award and will continue to be an example of outstanding leadership for years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for 1st Source. More…
| Total Revenues | Net Income | Net Margin |
| – | 116.22 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for 1st Source. More…
| Operations | Investing | Financing |
| 193.43 | -876.36 | 163.25 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for 1st Source. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.1k | 7.21k | – |
Key Ratios Snapshot
Some of the financial key ratios for 1st Source are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.7% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
VI Analysis – 1st Source Intrinsic Value
1ST SOURCE Corporation is a financial services company that provides banking, wealth management, and insurance services to customers. The company’s fundamentals reflect its long term potential, as analysed by the VI app. According to the app, the fair value of 1ST SOURCE shares is around $46.2. However, currently, the stock is being traded at $52.1, which is a fair price that is overvalued by 13%. The company has a strong financial track record and has a solid balance sheet with a low debt-to-equity ratio. Its capital ratios are well above the regulatory requirements. The company also has a strong and efficient operating model with a good return on equity. 1ST SOURCE is well-positioned to benefit from the current economic climate as it offers a wide range of financial services such as consumer and commercial banking, wealth management, trust services, brokerage services, insurance services, mortgage banking, and consumer finance. It also provides online banking and mobile banking solutions to its customers. The company has a strong customer base and has been able to maintain customer loyalty through its dedication to providing quality customer service. Overall, 1ST SOURCE Corporation is financially sound and is well-positioned to benefit from the current economic climate. The stock is currently trading at a fair price that is slightly overvalued, making it a good investment opportunity for investors who are looking for long-term returns. More…
VI Peers
The company offers a wide range of products and services including banking, lending, investments, and insurance. 1st Source Corp competes with a number of other financial institutions in the United States, including Salisbury Bancorp Inc, Union Bank Of The Philippines Inc, East West Banking Corp.
– Salisbury Bancorp Inc ($NASDAQ:SAL)
Salisbury Bancorp Inc is a bank holding company based in the United States. The company was founded in 1892 and is headquartered in New York, New York. Salisbury Bancorp Inc operates through its subsidiary, Salisbury Bank and Trust Company. The company provides banking services to individuals and businesses in the United States. Salisbury Bank and Trust Company offers a range of deposit and loan products, as well as online and mobile banking services.
– Union Bank Of The Philippines Inc ($PSE:UBP)
Union Bank of the Philippines Inc has a market cap of 167.08B as of 2022. The company is a universal bank that provides a wide range of banking and other financial services to its retail, corporate, and institutional clients. Its products and services include deposit products, loans, credit cards, foreign exchange, treasury, and trust services. The bank has a network of over 900 branches and 2,600 ATMs nationwide.
– East West Banking Corp ($PSE:EW)
East West Banking Corporation is a Philippines-based bank. The Bank offers a range of personal and corporate banking services, which include deposits, loans, foreign exchange, treasury, credit cards, and other services. East West Banking Corporation has a nationwide network of over 500 branches and 1,800 ATMs.
Summary
1ST SOURCE has been recognized for its outstanding lending leadership over the past 10 years, garnering much positive news coverage in the process. The company has seen success through its investments in various sectors, demonstrating a commitment to helping individuals and businesses reach their financial goals. 1ST SOURCE has a history of offering competitive interest rates, flexible terms, and a wide range of services tailored to meet the needs of customers.
Its diversified portfolio and strong focus on customer service has helped 1ST SOURCE become one of the most reliable lenders in the industry. With a commitment to excellence and continued success, 1ST SOURCE is poised to continue its growth and success in the years to come.
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