1st Source Q3 2021 Earnings Report

Net income was a record $32.48 million for the quarter, up 7.48% from the second quarter and up 61.95% from the third quarter of 2020.

Diluted net income per common share was also a record at $1.29, up compared to the $1.19 in the previous quarter and up from the prior year’s third quarter of $0.78.

Cash dividend of $0.31 per common share was approved by our Board, up 10.71% from the $0.28 per common share declared a year ago.

Small Business Administration (SBA) forgiveness and customer pay downs of Paycheck Protection Program (PPP) loans amounted to approximately $150.16 million during the quarter which contributed to the recognition of $6.69 million in PPP-related loan fees in the quarter.