1st Source Corporation, an Indiana corporation incorporated in 1971, is a bank
holding company headquartered in South Bend, Indiana that provides, through
its subsidiaries, a broad array of financial products and services. 1st Source
Bank (“Bank”), its banking subsidiary, offers commercial and consumer
banking services, trust and investment management services, and insurance to
individual and business clients through most of our 81 banking center locations
in 17 counties in Indiana and Michigan. 1st Source Bank’s Specialty Finance
Group, with 22 locations nationwide, offers specialized financing services for
new and used private and cargo aircraft, automobiles and light trucks for leasing
and rental agencies, medium and heavy duty trucks and construction equipment.
While our lending portfolio is concentrated in certain equipment types, we serve
a diverse client base. We are not dependent upon any single industry or client.
Commercial, Agricultural, and Real Estate Loans — 1st Source Bank provides
commercial, small business, agricultural, and real estate loans to primarily
privately owned business clients mainly located within our regional market area.
Loans are made for a wide variety of general corporate purposes, including financing
for industrial and commercial properties, financing for equipment, inventories
and accounts receivable, and acquisition financing. Other services include commercial
leasing, treasury management services and retirement planning services.
Consumer Services — 1st Source Bank provides a full range of consumer
banking products and services through our banking centers and at 1stsource.com.
In a number of our markets 1st Source also offers insurance products through
1st Source Insurance offices. The traditional banking services include checking
and savings accounts, certificates of deposits and Individual Retirement Accounts.
1st Source offers a full line of on-line and mobile banking products which includes
bill payment. As an added convenience, a strategically located Automated Teller
Machine network serves our customers and supports the debit and credit card
programs of the bank. Consumers also have the ability to obtain consumer loans,
real estate loans and lines of credit in any of our banking centers or on-line.
Finally, 1st Source offers a variety of financial planning, financial literacy
and other consultative services to our customers.
Trust Services — 1st Source Bank provides a wide range of trust, investment,
agency, and custodial services for individual, corporate, and not-for-profit
clients. These services include the administration of estates and personal trusts,
as well as the management of investment accounts for individuals, employee benefit
plans, and charitable foundations.
Specialty Finance Group Services — 1st Source Bank, through its Specialty
Finance Group, provides a broad range of comprehensive equipment loan and lease
finance products addressing the financing needs of a broad array of companies.
This group can be broken down into four areas: new and used aircraft; auto and
light trucks; construction equipment; and medium and heavy duty trucks.
Aircraft financing consists of financings for new and used general aviation
aircraft (including helicopters) for private and corporate aircraft users, aircraft
distributors and dealers, air charter operators, air cargo carriers, and other
aircraft operators. We have for many years, on a limited and selective basis,
provided international aircraft financing, primarily in Mexico and Brazil. Aircraft
finance receivables generally range from $500,000 to $25 million with fixed
or variable interest rates and terms of one to ten years.
2.73%