1st Source Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Approves Cash Dividend for the Fourth Quarter of 2012, Payable on February 15, 2013
January 23, 2013 at 02:34 am IST
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1st Source Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported total interest income was $45,473,000 against $45,854,000 a year ago. Net interest income was $38,509,000 against $37,330,000 a year ago. Income before income taxes was $18,573,000 against $17,204,000 a year ago. Net income was $12,346,000 against $11,182,000 a year ago. Diluted net income per common share was $0.50 against $0.45 a year ago.
For the year, the company reported total interest income was $182,085,000 against $187,523,000 a year ago. Net interest income was $151,776,000 against $148,400,000 a year ago. Income before income taxes was $75,680,000 against $73,789,000 a year ago. Net income was $49,633,000 against $48,195,000 a year ago. Diluted net income per common share was $2.02 against $1.96 a year ago.
The Board of Directors of company approved a cash dividend of $0.17 per common share for the fourth quarter of 2012. The cash dividend is payable on February 15, 2013 to shareholders of record on February 4, 2013.
1st Source Corporation is a bank holding company. The Company, through its subsidiaries, offers a range of financial products and services. Its banking subsidiary, 1st Source Bank (Bank), offers commercial and consumer banking services, trust and wealth advisory services, and insurance to individual and business clients through its 78 banking center locations in 18 counties in Indiana and Michigan and Sarasota County in Florida. The Bank offers specialized financing services for construction equipment, new and pre-owned private and cargo aircraft, and various vehicle types for fleet purposes. It also offers a range of trust, investment, agency, and custodial services for individual, estate and trust, corporate, and not-for-profit clients. Its insurance agency subsidiary, 1st Source Insurance, Inc., offers property and casualty, individual and group health, and life insurance for individuals and businesses. It also owns and manages certain available-for-sale investment securities.
1st Source Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Approves Cash Dividend for the Fourth Quarter of 2012, Payable on February 15, 2013