Forbes’ 15th annual America’s Best Banks list placed 1st Source Bank at No. 14 of 100 banks.
Forbes used 10 metrics to rank 200 of the largest publicly traded banks. Charleston, West Virginia-based City Holding Co. earned the top spot.
1st Source is one of five banks based in Indiana that made the list.
“(The ranking) is a result of the long-standing commitment we have made to building a fortress-like balance sheet and quality sustainable earnings while staying true to our mission of helping our clients achieve security, build wealth and realize their dreams,” said Chris Murphy III, chairman, president and CEO of 1st Source Corp. and chairman of 1st Source Bank., in a press release. “Since we became independent again in 1971, our successive bank leaders, most recently Andrea Short as current president and CEO of the bank, have lived this commitment and delivered on our mission.”
Other listed banks that have branches in the Region include:
No. 26: JP Morgan Chase, New York
No. 67: Wintrust Financial, based in Illinois
No. 92: Fifth Third Bank, based in Ohio
Forbes cited a difficult 2023 as a measure of success for the banks listed. Those listed weathered the storm of higher interest rates and panic from banking failures at Silicon Valley Bank and First Republic Bank.
The 10 metrics included growth, quality of credit and profitability for 2023.
South Bend-based 1st Source Corp. is the parent company of 1st Source Bank, which has 78 branches, among other financial services. It has been serving customers for more than 160 years.
