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Jun 30, 2020
1st Source Q2 2020 Earnings Report
Reported a decrease in net income compared to the previous year, but an increase compared to the previous quarter.
Key Takeaways
1st Source Corporation reported a net income of $18.50 million for the second quarter of 2020, a decrease of 20.88% compared to the second quarter of 2019. Diluted net income per common share was $0.72, down from $0.91 in the prior year's second quarter. The results reflect the ongoing impact of COVID-19 and the Federal Reserve's interest rate decreases.
Net income was $18.50 million, down 20.88% from Q2 2019.
Diluted net income per common share was $0.72, down from $0.91 in Q2 2019.
Cash dividend of $0.28 per common share was approved, up 3.70% from a year ago.
Average loans and leases grew $563.77 million, up 11.27% from Q2 2019.