SOUTH BEND – 1st Source Corp. has announced that its first quarter income was $11.72 million, up by more than 10 percent from $10.61 million one year ago.
Chairman and CEO Christopher Murphy said that expenses were down in the quarter while loan loss provisions for unchanged for the quarter. He said 1st Source Bank’s loan portfolio grew 3 percent.
The board of directors approved a quarterly cash dividend of 16 cents per share. It will be payable May 15 to shareholders of record on May 7.