Loading...
•
Mar 31, 2021
1st Source Q1 2021 Earnings Report
Reported record first quarter results and increased cash dividend.
Key Takeaways
1st Source Corporation reported a record quarterly net income of $28.11 million for the first quarter of 2021, a 71.24% increase from the previous year, with diluted net income per common share up 71.88% to $1.10. The Board of Directors approved a cash dividend increase to $0.30 per common share, up 7.14% from last year.
Net income was a record $28.11 million for the quarter, up 71.24% from the first quarter of 2020.
Diluted net income per common share was also a record at $1.10, up from the prior year’s first quarter of $0.64.
Cash dividend of $0.30 per common share approved, up 7.14% from the $0.28 per common share declared a year ago.
Return on average assets of 1.55% and return on average common shareholders’ equity of 12.74% compared to 1.00% and 7.81%, respectively in the first quarter of 2020.
1st Source
1st Source
Forward Guidance
The company's future results are dependent on the continuing vaccination of people, the true opening up of the economy and manufacturing supply chains, and housing availability improving.