South Bend-based 1st Source Corp. (Nasdaq: SRCE) is reporting record full-year net income of $82.4 million in 2018, up from $68.1 million the previous year. The results mark the second consecutive year and eighth consecutive quarter of record earnings for the parent of 1st Source Bank.
1st Source is also reporting fourth quarter net income of $21.5 million, up from $18 million during the same period in 2017. Chairman Christopher Murphy says the bank has also hit record dividend growth for 31 consecutive quarters.
Murphy says the bank also saw strong increases in average loans and leases, average deposits, and net interest margin. He says the results reflect the strong economy on both the national and local levels.
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