1St Source Corp (NASDAQ: SRCE)

1St Source Corp provides a broad array of financial products and services through its subsidiaries, primarily operating in the banking and financial services industry. Headquartered in South Bend, Indiana, the company offers commercial and consumer banking services, trust and wealth advisory services, insurance, and specialized financing solutions. With a network of 78 banking centers across Indiana, Michigan, and Florida, 1St Source Corp serves both individual and business clients, catering to their diverse financial needs.

The company generates revenue through various financial services, including loans, leases, deposits, and fee-based services. Its primary products and services encompass commercial and consumer banking, trust and wealth advisory, insurance, and specialty finance. The customer base includes individual clients, privately owned businesses, and institutional clients, all of whom benefit from the company's comprehensive financial solutions. As of December 31, 2025, 1St Source Corp reported consolidated total assets of $9.06 billion, total loans and leases of $7.05 billion, total deposits of $7.23 billion, and total shareholders' equity of $1.27 billion, reflecting its substantial presence in the financial services sector.

• Business Services: This segment provides commercial, small business, agricultural, and real estate loans to privately owned businesses for various purposes, including financing industrial and commercial properties, equipment, inventories, accounts receivable, acquisitions, and general corporate needs. Additionally, the segment offers commercial leasing, treasury management services, payment services, Fedwires, ACH, merchant services, and retirement planning services.

• Renewable Energy Financing: 1St Source Bank offers financing for commercial solar projects across the contiguous United States, with a focus on the Northeast and Midwest. The services include construction and permanent loans, as well as tax equity investments for community solar, commercial and industrial, small utility scale, university, and municipal projects. Project sizes typically range from five megawatts to 20 megawatts.

• Consumer Services: This segment provides a full range of consumer banking products and services through banking centers, virtual branches, client service centers, and online platforms. Traditional banking services include checking and savings accounts, certificates of deposit, Health Savings Accounts, Individual Retirement Accounts, loans, credit cards, mortgages, and home equity lines of credit. The segment also offers insurance products through 1St Source Insurance offices or in banking centers, as well as financial planning, financial literacy, and other consultative services.

• Trust and Wealth Advisory Services: This segment provides a wide range of trust, investment, agency, and custodial services for individual, estate and trust, corporate, and not-for-profit clients, as well as employee benefit plans and charitable foundations.

• Specialty Finance Group Services: The Specialty Finance Group offers comprehensive commercial new and pre-owned equipment loan and lease products in four areas: construction equipment, aircraft, auto and light trucks, and medium and heavy-duty trucks. The group operates through several subsidiaries, including Michigan Transportation Finance Corporation, 1St Source Specialty Finance, Inc., SFG Aircraft, Inc., 1St Source Intermediate Holding, LLC, SFG Commercial Aircraft Leasing, Inc., and SFG Equipment Leasing Corporation I.

1St Source Corp competes with other banks, some of which are affiliated with large bank holding companies headquartered outside of its principal market. The company also faces competition from other financial service companies, such as credit unions, securities firms, insurance companies, finance or mortgage companies, real estate investment trusts, and some governmental agencies. To differentiate itself, 1St Source Corp emphasizes client service and responsiveness to client needs, available loan and deposit products, competitive interest rates, quality of services, convenience of banking facilities, and relative lending limits for large commercial borrowers. The company leverages its history and reputation in northern Indiana, dating back to 1863, to build trust and long-term relationships with its clients.

The general customer base of 1St Source Corp includes individual clients, privately owned businesses, and institutional clients. The company serves a diverse range of clients through its various financial products and services, catering to their specific needs and preferences. By focusing on personalized banking and highly customized services, 1St Source Corp aims to help its clients achieve security, build wealth, and realize their dreams.