South Bend-based 1st Source Corp. (Nasdaq: SRCE) is reporting record first quarter net income of $19.1 million, up from $16.2 million during the same period last year. Chairman Christopher Murphy says the results helped the parent of 1st Source Bank pass $6 billion in assets.
The results mark the fifth consecutive quarter of record earnings for the parent of 1st Source Bank. The bank is also touting a nearly 10 percent increase in average loans and leases, as well as average deposits for the quarter.
"We have started out 2018 with strong loan growth," Murphy said in a news release. "As we move deeper into the year, we will continue our focus on organic, core deposit growth to support further loan growth."
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