1st Source Corporation Reports Q2 Net Income of $37.32M, EPS Up 1.34% from Last Year

Reuters
2025/07/25
<a href="https://laohu8.com/S/SRCE">1st Source Corporation</a> Reports <a href="https://laohu8.com/S/QTWO">Q2</a> Net Income of $37.32M, EPS Up 1.34% from Last Year

1st Source Corporation (NASDAQ: SRCE), the parent company of 1st Source Bank, has reported its financial results for the second quarter of 2025. The corporation achieved a net income of $37.32 million, representing a slight decrease of 0.54% compared to the previous quarter's $37.52 million and an increase of 1.43% from the $36.79 million reported in the second quarter of 2024. The year-to-date net income for 2025 reached $74.84 million, marking a 12.97% increase from $66.25 million during the first half of 2024. Diluted net income per common share for the second quarter of 2025 was $1.51, showing a minor decline of 0.66% from $1.52 in the previous quarter and a rise of 1.34% from $1.49 in the same period a year earlier. For the first half of 2025, diluted net income per common share was $3.02, up from $2.68 a year ago. The company experienced a 0.20% decrease in total noninterest income compared to the previous quarter, primarily due to $1.00 million in realized losses from the sale of available-for-sale securities. These securities, with a weighted average yield of 1.04%, were replaced with others yielding 4.18%. Despite this, noninterest income increased during the first six months of 2025 compared to the same period in 2024, driven by gains from renewable energy tax equity investments, increased insurance commissions, and higher brokerage and commission fees. Noninterest expense for the second quarter of 2025 was $52.43 million, a reduction of 1.22% compared to the prior quarter but up 5.15% from a year ago. For the first half of 2025, noninterest expense rose by 7.04% compared to the same period in 2024. The results reflect strong growth in net interest income, though offset by higher provisions for credit losses and strategic repositioning trades within the investment portfolio.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 1st Source Corporation published the original content used to generate this news brief via Newsfile (Ref. ID: 259943) on July 24, 2025, and is solely responsible for the information contained therein.

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