South Bend-based 1st Source Corp. (Nasdaq: SRCE) is reporting record third quarter net income of $17.2 million, up from $14.3 million during the same period last year. The parent of 1st Source Bank says continued growth in loans, leases and deposits contributed to the record earnings.
Christopher Murphy, chairman of 1st Source Corp., says the bank had a strong third quarter. It is the third consecutive quarter in which the bank has reported record profit.
"We believe Hurricanes Harvey and Irma will have little to no impact on our financial results," Murphy said in a news release. "We are however, working proactively to help our banking and specialty finance clients that live and operate businesses in the affected areas of Texas, Florida, and St. Thomas in the U.S. Virgin Islands. In order to provide relief and aid in recovery, we have offered interest only or deferred payments on loans based on the customer’s preference and level of damage."
You can view the full earnings report by clicking here.