South Bend-based 1st Source Corp. (Nasdaq: SRCE) is reporting record full-year net income of $68.1 million for 2017, up from $57.8 million the previous year. Chairman Christopher Murphy says, in addition to the record earnings, the parent of 1st Source Bank hit its 30th consecutive year of dividend growth.
1st Source is also reporting fourth quarter net income of $18 million, up from $15.2 million during the same quarter in 2016. Murphy adds the new federal tax rate should allow the bank to see continued growth in 2018.
He says it will also "provide additional funds to invest in our people, our technologies, our client service and our branch, on-line, and mobile delivery channels. Of course, as the leading financial institution in our market, we will maintain attractive wage levels matching pay with skills, education, experience and job requirements. And we will continue to invest in the educational and personal development of our colleagues so we continue to grow together."
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