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Jun 30, 2022
1st Source Q2 2022 Earnings Report
Reported a record quarter adjusted for PPP income and net income decreased slightly.
Key Takeaways
1st Source Corporation reported a net income of $29.31 million for the second quarter of 2022, a decrease of 3.01% compared to the second quarter of 2021. Excluding tax-effected PPP income, net income was a record $28.47 million for the quarter, up $1.06 million or 3.87% from the second quarter of 2021. Diluted net income per common share for the second quarter of 2022 was $1.18 versus $1.19 in the second quarter of 2021.
Net income was $29.31 million for the quarter, down $0.91 million or 3.01% from the second quarter of 2021.
Cash dividend of $0.32 per common share was approved, up 3.22% from the cash dividend declared a year ago.
Average loans and leases net PPP loans grew $168.96 million in the second quarter, up 3.20% from the previous quarter and $335.87 million, up 6.58% from the second quarter of 2021.
Tax-equivalent net interest margin was 3.32%, up 17 basis points from the second quarter a year ago.
1st Source
1st Source
1st Source Revenue by Segment
Revenue by Segment
Trust and Wealth Advisory Revenue
CapyFin.comService Charges on Deposit Accounts Revenue
CapyFin.comDebit Card Revenue
CapyFin.comMortgage Banking Revenue
CapyFin.comInsurance Commissions Revenue
CapyFin.comEquipment Rental Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The company did not provide specific forward guidance in this earnings report.