1st Source Corp (SRCE) Tops Q2 EPS by 19c

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Go back to 1st Source Corp (SRCE) Tops Q2 EPS by 19c

1st Source Corporation Reports Strong Second Quarter Results, Cash Dividend Declared

July 20, 2023 4:23 PM EDT

QUARTERLY HIGHLIGHTS

Net income was $32.44 million for the quarter, up $3.12 million or 10.65% from the second quarter of 2022. Diluted net income per common share was $1.30, up $0.12 or 10.17% from the prior year's second quarter of $1.18.

Cash dividend of $0.32 per common share was approved, equal to the cash dividend declared a year ago.

Average loans and leases grew $104.95 million in the second quarter, up 1.74% (6.96% annualized growth) from the previous quarter and $673.35 million, up 12.31% from the second quarter of 2022.

Average deposits grew $70.08 million in the second quarter, up 1.02% from the previous quarter and... More