The South Bend-based 1st Source Corp. (Nasdaq: SRCE) Board of Directors has announced several executive promotions. Jim Seitz, who has been with 1st Source Bank since 1980, will serve as president. The board also named a new executive vice president and chief credit officer. October 27, 2014

News Release

SOUTH BEND, Ind. – Christopher J. Murphy III, Chairman and CEO of 1st Source Corporation, announced that 1st Source Bank President Jim Seitz has been elected President of 1st Source Corporation by the Board of Directors. Seitz earned the promotion to President of 1st Source Corporation due to the leadership he has shown as President of the Bank during the past two years. In his new role, all of the Bank's business and commercial banking areas, specialty finance lending units and banking centers will report to him.

Similarly, Andrea Short, Chief Financial Officer and Principal Accounting Officer, has been promoted by the Board to Executive Vice President of the Corporation with the company’s lending and deposit operations being added to her accounting and finance responsibilities. Lastly, Jeff Buhr, Chief Credit Officer of 1st Source, with responsibility for credit analysis and underwriting, loan workout and recovery and loan administration was promoted to Executive Vice President of the Bank.

Seitz joined 1st Source Bank in 1980 as Branch Manager. He has gained a range of experience throughout his 1st Source career, serving as Supervisor of Banking Centers, Regional Manager, Manager of Consumer and Electronic Banking and Executive Vice President. Seitz received his M.B.A. from the University of Notre Dame and his B.S. in Business Marketing from Indiana University.

Short began her career at 1st Source in 1998 as Tax Director. She was later promoted to Vice President and Controller with responsibilities for all finance and accounting functions for 1st Source Corporation, its subsidiaries and affiliates. Since 2013, she has served as Chief Financial Officer and Principal Accounting Officer. Short is a CPA with a B.A. degree from Alma College. She has also completed the University of Chicago Booth School of Business’ Chicago Management Institute.

Buhr started at 1st Source in 2001 as Vice President and Senior Credit Administrator. In 2002, he was promoted to Senior Vice President and in 2009 as the bank’s Chief Credit Officer. Buhr graduated from the University of Idaho. He also received his M.B.A. from Texas Christian University.

1st Source Corporation, parent company of 1st Source Bank, has assets of $4.8 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 78 banking centers in 17 counties, 21 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Management locations and eight 1st Source Insurance offices. For more than 150 years, 1st Source has been committed to the success of the communities it serves. For more information, visit

Source: 1st Source Corp.

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