1st Source Corporation (NASDAQ: SRCE) is a diversified regional financial services company and the bank holding company for 1st Source Bank. Founded in 1863 and headquartered in South Bend, Indiana, the company operates primarily through its commercial banking segment. It provides a comprehensive suite of financial products, including commercial and consumer banking, trust and wealth advisory services, and insurance products. 1st Source operates over 70 banking centers across northern Indiana and southwestern Michigan, as well as in Sarasota, Florida.
A key differentiator for the company is its Specialty Finance Group, which operates nationwide and accounts for approximately half of its loan portfolio. This group offers specialized equipment loan and lease products for construction equipment, new and pre-owned aircraft, auto and light trucks, and medium and heavy-duty trucks. The company generates revenue primarily through net interest income from its loan and lease portfolios, supplemented by noninterest income from wealth management, insurance commissions, and banking fees. 1st Source maintains a strong focus on local, relationship-based banking while leveraging its national specialty finance footprint to drive growth and diversification.
