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Sep 30, 2023
1st Source Q3 2023 Earnings Report
Reported record third quarter results and increased cash dividend.
Key Takeaways
1st Source Corporation reported record quarterly net income of $32.94 million for the third quarter of 2023, up 0.62% from the third quarter a year ago. The board of directors approved a cash dividend of $0.34 per common share, up 6.25% from the cash dividend declared a year ago.
Net income was a record $32.94 million for the quarter, up $0.20 million or 0.62% from the third quarter of 2022.
Diluted net income per common share was $1.32, equal to the prior year’s third quarter.
Cash dividend of $0.34 per common share was approved, up 6.25% from the cash dividend declared a year ago.
Average loans and leases grew $104.73 million in the third quarter, up 1.71% from the previous quarter and $618.17 million, up 10.98% from the third quarter of 2022.
1st Source
1st Source
Forward Guidance
No specific forward guidance was provided in the earnings report.