1st Source Bank
South Bend, Indiana, St. Joseph County
$9.3B in total assets, the 177th largest of 4,309 US banks and 5th of 89 headquartered in Indiana.
- FDIC certificate
- 9087
- Established
- 1922
- Owned by
- 1st Source Corp
- Primary regulator
- FED
- Website
- www.1stsource.com
At a glance
Compared with 16 banks headquartered in Indiana with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $9.3B | 98% | $3.1B | |
| Loans | $7.2B | 98% | $2.0B | |
| Deposits | $7.4B | 98% | $2.8B | |
| Return on assets | 1.96% | 94% | 1.22% | |
| Net interest margin | 4.38% | 94% | 3.52% | |
| Efficiency ratio | 46.5% | 6% | 56.5% | |
| Equity to assets | 13.56% | 94% | 9.50% | |
| Loans to deposits | 97% | 88% | 85% |
Growth
Total assets grew 3.7% a year over the last 5 years and 5.6% a year over 10 years, without acquisitions.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Jun 2008 | First National Bank, Valparaiso Valparaiso, IN, an affiliate under the same holding company | $694M |
| Sep 1995 | 1st Source Bank of Starke County Hamlet, IN, an affiliate under the same holding company | $47M |
| Jun 1992 | Farmers State Bank of Wyatt Wyatt, IN | $85M |
| Apr 1987 | Community State Bank North Liberty, IN | $19M |
| Dec 1985 | 1st Source Bank of Marshall County Plymouth, IN | $149M |
| Jul 1983 | The First National Bank of Mishawaka Mishawaka, IN | n/a |
Where they operate
80 branches in 20 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| St. Joseph County, IN | $3.2B | 54.5% | 1 of 15 |
| Elkhart County, IN | $1.0B | 21.5% | 3 of 16 |
| Porter County, IN | $885M | 18.3% | 3 of 11 |
| Allen County, IN | $479M | 4.9% | 9 of 24 |
| Marshall County, IN | $455M | 42.1% | 1 of 9 |
| Laporte County, IN | $411M | 15.4% | 2 of 8 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net loss of 3 branches since 2016 (83 to 80, −3.6%). 6 opened, 0 acquired, 9 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 83 | |||
| 2016 | Opened ElkhartClosed Hebron | 1 | 1 | 0 | 83 |
| 2017 | Opened SarasotaClosed 3 in Indiana | 1 | 3 | −2 | 81 |
| 2018 | Opened South Bend | 1 | 0 | +1 | 82 |
| 2020 | Opened AuburnClosed Elkhart and Stevensville | 1 | 2 | −1 | 81 |
| 2023 | Opened NilesClosed Niles and South Bend | 1 | 2 | −1 | 80 |
| 2024 | Closed Elkhart | 0 | 1 | −1 | 79 |
| 2025 | Opened Carmel | 1 | 0 | +1 | 80 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Business (C&I) | 66% | 14% | |
| 1-4 family residential | 11% | 23% | |
| Commercial real estate | 10% | 28% | |
| Construction and land | 6% | 8% | |
| Consumer | 2% | 3% | |
| Farmland | 1% | 6% | |
| Multifamily | 1% | 12% | |
| Agricultural | 1% | 2% | |
| Other | 3% | 3% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 56% | 59% | |
| Time deposits | 22% | 23% | |
| Noninterest-bearing | 22% | 18% |
Brokered deposits are 4.0% of deposits (peers 4.7%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.92% | 0.54% |
| Net charge-offs, annualized | 0.13% | 0.04% |
| Reserves to loans | 2.30% | 1.30% |
| Leverage ratio | 13.72% | 10.25% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Indiana
Largest competitors in St. Joseph County, IN
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/1st-source