1st Source

1st Source is an American regional financial-services brand operated principally through 1st Source Corporation and its banking subsidiary, 1st Source Bank. Its institutional history begins in 1863 with the establishment of the First National Bank of South Bend, making it one of the long-established banking organizations in northern Indiana. Over time, the institution developed from a local commercial bank into a diversified regional financial group serving consumers, businesses, professionals, institutions, and community organizations. The brand’s core activity is community and commercial banking. 1st Source Bank provides deposit accounts, consumer and business lending, treasury and cash-management services, mortgage-related offerings, and other everyday banking products. Its regional model emphasizes relationship banking, local decision-making, branch access, and familiarity with the operating conditions of Midwestern businesses and households. Rather than presenting itself as a nationwide mass-market bank, 1st Source concentrates its physical banking presence in northern Indiana and Michigan, with additional activity in selected markets. A distinguishing feature of the company is its Specialty Finance Group. This business provides financing connected with aircraft, trucks, construction equipment, and other commercial assets. Industry-focused finance allows the group to serve customers whose borrowing requirements may be more specialized than those of conventional small-business banking. 1st Source also operates insurance activities through 1st Source Insurance, broadening the group’s offering beyond deposits and loans. Wealth-management and trust-related services complement its banking and commercial-finance businesses. The organization’s history includes several structural and strategic changes. In the early 1930s, its predecessor combined with First National and Union Trust to form First Bank and Trust Company. Under Ernest M. Morris, the bank continued operating through the Great Depression and opened its first branch in 1935, followed by a second branch in 1946. By the end of the 1950s, it had become Indiana’s seventh-largest bank. The bank adopted the 1st Source Bank name in 1981. Later developments included the integration of Trustcorp Mortgage Company into the bank in 2007 and continued branch investment, including redesigned Fort Wayne locations using a side-by-side service format. 1st Source Corporation is publicly traded on Nasdaq under the symbol SRCE. The group remains focused on regional banking, commercial finance, insurance, and related financial services. Its identity combines a long local banking heritage with specialized lending capabilities, especially in aviation and equipment finance.

1st Source traces its banking history to 1863, when the First National Bank of South Bend was founded in northern Indiana. The institution’s early development took place in a regional banking environment centered on local deposits, commercial credit, and services for households and businesses in and around South Bend. During the early 1930s, the predecessor organization merged with First National and Union Trust. The resulting First Bank and Trust Company operated under the leadership of Ernest M. Morris, who guided the bank through the Great Depression. The institution began expanding its physical presence during the recovery period, opening its first branch in 1935 and a second branch in 1946. By the end of the 1950s, it had become the seventh-largest bank in Indiana, reflecting growth beyond its original South Bend base. The bank adopted the name 1st Source Bank in 1981. The rebranding marked the development of a more unified identity for its expanding banking activities while retaining its regional orientation. In subsequent decades, the organization broadened its services beyond traditional branch banking. Its activities came to include commercial lending, consumer finance, cash management, wealth management, insurance, and specialized financing for business assets. A particularly important area of specialization is equipment finance. Through its Specialty Finance Group, 1st Source provides financing for aircraft, trucks, construction equipment, and related commercial assets. This capability gives the group an industry-oriented lending profile in addition to its conventional community-banking activities. The company also operates insurance services through 1st Source Insurance. In 2007, Trustcorp Mortgage Company was folded into the bank subsidiary, consolidating mortgage-related activity within 1st Source Bank. The organization continued investing in its branch network and service model. In Fort Wayne, Indiana, it opened two branches and remodeled six others in 2014. Those locations used a side-by-side banking layout rather than traditional teller windows, allowing employees and customers to work together at shared screens and service areas. The company broke ground on two additional Fort Wayne branches in 2015. The bank has also participated in government-supported small-business lending. In 2016, it was identified as the leading Small Business Administration lender in Indiana among banks with less than $10 billion in assets. That same year, approval was granted for a branch in Sarasota, Florida, indicating selected expansion outside its core Midwestern footprint. Today, 1st Source Corporation is a publicly traded bank holding company with 1st Source Bank as its principal operating bank. Its business remains concentrated in northern Indiana and southwestern Michigan, while its specialized-finance and related financial-services activities give it reach beyond a conventional local branch network. The company’s history is therefore characterized by continuity of regional ownership and banking relationships, combined with gradual diversification into commercial finance, insurance, wealth management, and industry-specific lending.

1. 2016Small-business lending distinction

   1st Source made the most Small Business Administration loans in Indiana among banks with less than $10 billion in assets, according to the referenced material.

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2. 2016Sarasota branch approval

   The bank received approval to open a branch in Sarasota, Florida.

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3. 2015Additional Fort Wayne branches planned

   The bank broke ground on two more branches in Fort Wayne, continuing investment in its Indiana network.

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4. 2014Fort Wayne branch modernization

   1st Source opened two Fort Wayne branches and remodeled six others, introducing side-by-side banking areas in place of traditional teller-window layouts.

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5. 2007Trustcorp Mortgage integrated into the bank

   Trustcorp Mortgage Company was folded into the bank subsidiary as part of the organization’s consolidation of mortgage operations.

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6. 1981Name changed to 1st Source Bank

   The bank adopted the 1st Source Bank name, which became the principal customer-facing banking identity.

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7. 1959Ranked among Indiana’s largest banks

   By the end of the 1950s, the bank had become the seventh-largest bank in Indiana.

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8. 1946Second branch opened

   The institution expanded its branch network with the opening of a second location.

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9. 1935First branch opened

   Under Ernest M. Morris, the bank opened its first branch while operating through the economic difficulties of the Great Depression.

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10. 1930Formation of First Bank and Trust Company

    During the early 1930s, the predecessor bank merged with First National and Union Trust to form First Bank and Trust Company.

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11. 1863First National Bank of South Bend founded

    The banking predecessor from which 1st Source developed was established in South Bend, Indiana, providing the historical starting point for the organization.

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Regional Midwestern community bank with specialized commercial, aviation, and equipment-finance capabilities

• 1st Source Bank personal bankingRetail banking

  Personal banking services for individuals, including deposit accounts, consumer lending, mortgage-related services, and routine transaction needs. These offerings support the brand’s community-bank role and are delivered through a combination of branches and other banking channels in its regional markets.

• Commercial bankingCommercial banking

  Banking services for businesses and institutions, including commercial deposits, working-capital and term lending, treasury services, and cash management. The offering is oriented toward relationship-based support for companies operating in northern Indiana, southwestern Michigan, and selected additional markets.

• Specialty Finance GroupSpecialized commercial finance

  A specialized lending business that finances aircraft, trucks, construction equipment, and other commercial assets. It serves customers with asset-intensive or industry-specific borrowing needs and is one of the clearest differentiators between 1st Source and a conventional community bank.

• Aviation financeAviation finance

  Financing for aircraft and aviation-related customers through the company’s specialized commercial-finance activities. The business reflects 1st Source’s focus on sector expertise and asset-based lending rather than only standardized consumer credit products.

• Equipment financeEquipment finance

  Financing for trucks, construction equipment, and other business assets. These facilities help commercial customers acquire or use equipment required for transportation, construction, and other operating activities.

• 1st Source InsuranceInsurance services

  Insurance products and services offered through the group’s insurance business. The activity extends 1st Source’s customer relationship beyond banking and lending into risk-management and protection needs.

• Wealth management and trust servicesWealth management

  Wealth-management, trust, and related advisory capabilities for individuals, families, businesses, and institutions. These services complement the group’s deposit, lending, and commercial-finance relationships.

• 2016Expansion into Sarasota, FloridaStrategy

  1st Source’s principal branch footprint was concentrated in Indiana and Michigan, with the company evaluating selected opportunities outside its core region.

  What changed. The bank received approval to open a branch in Sarasota, Florida.

  Aftermath. The approval represented a selective extension of the branch network beyond the company’s established Midwestern markets.

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• 2014Side-by-side branch banking formatStrategy

  As part of its Fort Wayne expansion and renovation program, the bank reconsidered the traditional teller-window layout.

  What changed. Two new branches were opened and six existing branches were remodeled with shared workspaces and screens intended to support side-by-side interaction between employees and customers.

  Aftermath. The format became a visible example of the bank’s effort to combine physical branch investment with a more consultative service model.

  Reported branch expansion and remodeling cost. Approximately $8 million (December 2014)

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• 2007Consolidation of Trustcorp Mortgage CompanyStrategy

  The organization had a mortgage subsidiary, Trustcorp Mortgage Company, within its broader financial-services structure.

  What changed. Trustcorp Mortgage Company was folded into the bank subsidiary, consolidating the activity within 1st Source Bank.

  Aftermath. The move simplified the subsidiary structure and placed mortgage operations within the principal banking entity.

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1. 1st Source
2. 1st Source official website
3. 1st Source investor relations