1st Source Corp SRCE Income Statement

1st source corp (SRCE)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income:
Loans and leases
61,526	63,259	66,807	65,599	62,683	62,283	59,961	58,520	53,691	51,381	50,429	48,032	44,884	44,407	44,965	43,891	42,736	44,019	42,560	42,583	39,604	40,782	41,118	40,401	38,914	39,463	42,392	40,112	39,170	40,552	40,610	40,318	39,896	40,236	40,741	41,710	41,299	43,722	43,099
Investment securities, taxable
5,550	5,189	5,056	5,186	5,515	5,363	4,912	4,473	4,608	3,921	3,048	3,370	3,514	3,410	2,384	3,040	3,080	3,000	3,277	2,648	3,004	3,346	2,962	3,401	3,345	3,640	3,581	3,498	3,695	3,852	3,913	4,334	4,327	4,445	4,694	4,912	4,482	4,931	5,279
Investment securities, tax-exempt
264	297	316	353	385	419	432	475	531	425	628	677	683	542	672	697	692	731	738	754	769	803	831	816	819	799	764	760	771	814	826	848	852	889	934	1,004	1,186	1,369	1,422
Other
346	798	497	499	438	452	391	397	408	458	325	319	291	365	279	309	291	267	246	229	255	266	241	232	277	228	229	241	242	255	231	231	226	284	217	247	243	219	250
Total interest income
67,686	69,543	72,676	71,637	69,021	68,517	65,696	63,865	59,238	56,185	54,430	52,398	49,372	48,724	48,300	47,937	46,799	48,017	46,821	46,214	43,632	45,197	45,152	44,850	43,355	44,130	46,966	44,611	43,878	45,473	45,580	45,731	45,301	45,854	46,586	47,873	47,210	50,241	50,050
Interest expense:
Deposits
10,851	12,523	13,524	12,978	11,470	10,345	9,405	8,319	6,562	5,771	5,186	4,511	3,734	3,827	3,879	3,790	3,771	3,218	2,874	2,838	2,559	2,626	2,765	2,994	2,971	3,561	4,089	4,412	4,542	5,009	5,419	5,704	5,745	6,489	7,756	8,162	8,355	10,790	11,573
Short-term borrowings
254	170	293	540	931	718	518	826	776	220	396	272	227	95	150	119	161	103	147	131	103	102	134	169	136	62	72	45	32	33	36	47	53	60	77	74	89	219	206
Subordinated notes
884	907	914	928	928	916	918	908	883	870	1,022	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,055	1,542	1,647	1,648	1,647	1,647	1,647	1,648	1,647	1,648	1,647
Long-term debt and mandatorily redeemable securities
853	647	750	764	744	695	493	643	485	510	597	699	629	364	522	680	523	430	536	525	479	575	488	470	575	418	592	228	495	380	571	357	471	328	480	405	259	400	375
Total interest expense
12,842	14,247	15,481	15,210	14,073	12,674	11,334	10,696	8,706	7,371	7,201	6,537	5,645	5,341	5,606	5,644	5,510	4,806	4,612	4,549	4,196	4,358	4,442	4,688	4,737	5,096	5,808	5,740	6,124	6,964	7,673	7,756	7,916	8,524	9,960	10,289	10,350	13,057	13,801
Net interest income
54,844	55,296	57,195	56,427	54,948	55,843	54,362	53,169	50,532	48,814	47,229	45,861	43,727	43,383	42,694	42,293	41,289	43,211	42,209	41,665	39,436	40,839	40,710	40,162	38,618	39,034	41,158	38,871	37,754	38,509	37,907	37,975	37,385	37,330	36,626	37,584	36,860	37,184	36,249
Provision for loan and lease losses
11,353	2,951	3,717	4,247	4,918	4,702	6,157	4,817	3,786	3,622	1,620	2,738	1,000	742	2,067	2,049	975	0	992	811	357	-820	1,206	2,543	804	-859	-419	1,293	757	793	650	2,055	2,254	-396	1,260	67	2,198	5,578	5,798
Net interest income after provision for loan and lease losses
43,491	52,345	53,478	52,180	50,030	51,141	48,205	48,352	46,746	45,192	45,609	43,123	42,727	42,641	40,627	40,244	40,314	43,211	41,217	40,854	39,079	41,659	39,504	37,619	37,814	39,893	41,577	37,578	36,997	37,716	37,257	35,920	35,131	37,726	35,366	37,517	34,662	31,606	30,451
Noninterest income:
Trust and wealth advisory
-	-	-	-	-	-	-	-	-	-	-	-	5,001	-	4,691	5,108	4,623	4,688	4,634	5,247	4,557	4,581	4,499	4,955	4,476	3,583	5,260	4,439	4,101	4,091	4,055	4,379	3,973	4,022	3,902	4,411	3,992	3,870	4,062
Service charges on deposit accounts
-	-	-	-	-	-	-	-	-	-	-	-	2,239	-	2,366	2,276	2,107	2,336	2,413	2,367	2,197	2,186	2,225	2,207	2,066	2,249	2,364	2,325	2,239	2,671	2,688	2,621	2,438	-2,629	4,748	4,638	4,236	4,918	5,275
Debit card
-	-	-	-	-	-	-	-	-	-	-	-	2,750	-	2,745	2,816	2,599	2,607	2,583	2,628	2,399	2,508	2,382	2,463	2,232	2,130	2,343	2,344	2,065	2,108	2,020	2,194	2,067	-	-	-	-	-	-
Mortgage banking
2,336	1,401	1,362	999	936	962	925	1,073	884	1,059	1,486	1,304	947	1,001	1,334	1,115	1,046	1,111	969	1,239	1,251	1,420	1,446	1,181	1,334	1,277	1,103	1,936	1,628	2,893	2,020	1,502	1,942	1,504	1,056	835	444	2,549	425
Insurance commissions
1,881	1,466	1,603	1,518	2,174	1,477	1,580	1,487	1,958	1,383	1,429	1,310	1,767	1,367	1,350	1,233	1,563	1,318	1,460	1,382	1,305	1,388	1,317	1,288	1,563	1,361	1,292	1,393	1,446	1,443	1,483	1,211	1,357	1,377	1,212	1,062	1,142	1,180	1,061
Income related to lease payments
6,630	7,372	7,578	7,809	7,982	-	7,977	8,104	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equipment rental
-	-	-	-	-	-	-	-	7,755	-	7,917	7,586	6,832	6,616	6,657	6,517	6,073	6,000	5,881	5,342	5,079	4,615	4,361	4,098	4,082	4,131	4,000	4,086	4,012	4,176	4,604	4,666	5,350	5,500	5,814	6,009	6,038	6,495	6,672
Gains on investment securities available-for-sale
280	0	0	0	0	0	0	0	-345	1,583	1,007	465	1,285	1,006	989	-209	10	0	0	4	0	0	0	0	963	-140	-28	0	0	-	-	-	-	-	-	-	-	-	-
Investment securities and other investment gains
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	89	8	395	-287	414	1,142	130	1,083	95
Other
2,669	3,641	3,621	3,301	2,456	2,550	2,525	2,507	2,780	2,028	3,014	2,394	2,486	1,542	2,533	3,441	3,606	2,842	3,192	3,322	2,963	3,178	3,162	3,029	2,682	3,394	3,824	3,598	3,457	3,402	3,346	3,209	3,001	3,283	3,084	3,327	2,971	2,656	3,012
Total noninterest income
24,622	25,577	25,765	25,664	24,124	24,160	24,060	25,023	23,807	25,671	25,592	24,136	23,307	22,356	22,665	22,297	21,627	20,902	21,132	21,531	19,751	19,876	19,392	19,221	19,398	17,985	20,158	20,121	18,948	20,574	20,305	19,790	20,523	20,265	20,230	21,424	18,953	22,751	20,602
Noninterest expense:
Salaries and employee benefits
24,401	25,382	24,434	23,787	23,495	24,466	23,164	23,696	22,531	22,839	22,016	20,712	21,345	22,156	22,136	21,194	21,351	22,579	21,835	20,794	20,925	21,389	20,790	18,827	19,482	20,230	20,441	19,176	19,936	20,931	20,982	20,370	20,316	20,012	19,476	19,135	18,638	18,980	18,848
Net occupancy
2,721	2,640	2,635	2,481	2,772	2,537	2,523	2,115	2,866	2,856	2,806	2,368	2,594	2,443	2,435	2,307	2,501	2,466	2,496	2,345	2,461	2,387	2,252	2,235	2,437	2,220	2,126	2,147	2,207	2,159	1,652	1,848	2,160	2,106	2,237	2,051	2,320	2,200	1,939
Furniture and equipment
6,407	6,475	6,027	6,289	6,024	6,491	5,769	5,718	5,455	5,505	5,363	5,108	4,793	5,001	4,898	4,811	4,790	4,877	4,604	4,531	4,336	4,592	4,415	4,413	4,237	4,610	4,477	3,909	3,899	4,251	3,817	3,831	3,507	3,701	3,519	3,561	3,349	3,227	3,196
Depreciation - leased equipment
-	-	-	-	-	-	-	-	6,428	-	6,565	6,296	5,680	5,563	5,570	5,444	5,101	4,938	4,858	4,396	4,088	3,783	3,571	3,290	3,249	3,310	3,246	3,274	3,225	3,293	3,795	3,803	4,311	4,400	4,650	4,795	4,805	5,173	5,304
Professional fees
1,442	2,045	1,603	1,706	1,598	2,052	1,883	1,728	2,017	2,296	1,765	1,672	1,077	1,508	1,244	1,190	1,219	1,467	1,237	1,108	870	1,698	1,158	1,062	1,128	1,478	1,178	1,310	1,355	1,851	1,385	1,449	1,398	2,006	1,326	1,080	1,096	1,563	1,418
Supplies and communication
1,634	1,710	1,643	1,608	1,493	1,633	1,635	1,499	1,553	1,444	1,316	1,345	1,250	1,106	1,256	1,374	1,508	1,889	1,307	1,409	1,406	1,436	1,424	1,337	1,392	1,325	1,330	1,499	1,536	1,536	1,387	1,385	1,393	1,431	1,312	1,316	1,394	1,387	1,338
FDIC and other insurance
288	282	260	608	645	656	855	714	698	648	693	573	623	710	647	911	879	868	848	847	849	814	856	850	864	783	874	927	878	886	913	854	949	913	874	958	1,676	1,420	1,667
Business development and marketing
1,359	1,832	1,844	1,678	949	1,191	1,663	1,725	1,533	3,125	1,199	1,501	1,652	1,668	1,263	1,025	980	1,330	1,244	1,214	1,049	2,248	1,218	899	1,684	1,927	1,306	932	773	1,307	1,008	1,050	867	1,578	968	864	622	845	880
Loan and lease collection and repossession
763	1,114	697	230	1,361	296	1,563	565	951	666	1,093	329	636	464	324	385	427	182	416	-294	363	961	652	-17	-494	648	1,530	1,095	757	1,426	1,866	979	1,501	2,513	1,387	1,500	1,324	1,449	3,267
Other
2,093	1,860	1,765	2,566	343	1,813	1,707	1,433	1,525	1,260	1,644	1,201	1,469	1,142	1,372	1,393	1,949	1,148	2,223	1,891	1,714	2,682	1,317	1,528	1,994	2,059	1,922	1,475	1,984	2,077	388	1,009	1,646	2,127	1,399	683	3,252	1,566	1,792
Total noninterest expense
46,535	49,346	47,106	47,353	45,204	47,691	47,342	45,877	45,557	47,313	44,460	41,105	41,119	41,761	41,145	40,034	40,705	41,744	41,068	38,241	38,061	41,990	37,653	34,424	35,973	38,590	38,430	35,744	36,550	39,717	37,193	36,578	38,048	40,787	37,148	35,943	38,476	37,810	39,649
Income before income taxes
21,578	28,576	32,137	30,491	28,950	27,610	24,923	27,498	24,996	23,550	26,741	26,154	24,915	23,236	22,147	22,507	21,236	22,369	21,281	24,144	20,769	19,545	21,243	22,416	21,239	19,288	23,305	21,955	19,395	18,573	20,369	19,132	17,606	17,204	18,448	22,998	15,139	16,547	11,404
Income tax expense
5,160	6,622	7,689	7,074	6,754	6,164	5,035	5,534	5,880	5,556	9,559	9,485	8,709	8,011	7,883	8,028	7,418	7,952	7,353	8,514	7,258	4,549	6,296	7,922	7,607	5,572	8,409	8,013	6,991	6,227	7,364	6,565	5,891	6,022	6,908	8,133	4,531	5,344	3,609
Net (income) loss attributable to noncontrolling interests
5	13	10	32	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends and discount accretion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,721	1,717
Net income available to common shareholders
16,413	21,941	24,438	23,385	22,196	21,446	19,888	21,964	19,116	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,482	6,078
Net income
16,418	21,954	24,448	23,417	22,196	21,446	19,888	21,964	19,116	17,994	17,182	16,669	16,206	15,225	14,264	14,479	13,818	14,417	13,928	15,630	13,511	14,996	14,947	14,494	13,632	13,716	14,896	13,942	12,404	12,346	13,005	12,567	11,715	11,182	11,540	14,865	10,608	11,203	7,795
Per common share:
Basic net income per common share (in dollars per share)
0.64	0.85	0.95	0.91	0.86	0.83	0.76	0.84	0.73	0.68	0.66	0.64	0.62	0.58	0.55	0.56	0.53	0.54	0.53	0.59	0.51	0.52	0.56	0.54	0.55	0.37	0.60	0.56	0.50	0.50	0.53	0.51	0.48	0.45	0.47	0.61	0.43	0.39	0.25
Diluted net income per common share (in dollars per share)
0.64	0.85	0.95	0.91	0.86	0.83	0.76	0.84	0.73	0.68	0.66	0.64	0.62	0.58	0.55	0.56	0.53	0.54	0.53	0.59	0.51	0.52	0.56	0.54	0.55	0.37	0.60	0.56	0.50	0.50	0.53	0.51	0.48	0.45	0.47	0.61	0.43	0.39	0.25
Cash dividends (in dollars per share)
0.29	-	0.27	0.27	0.27	-	0.25	0.24	0.22	-	0.19	0.19	0.18	-	0.18	0.18	0.18	-	0.16	0.16	0.16	-	0.16	0.16	0.17	-	0.17	0.17	0.17	-	0.17	0.16	0.16	-	0.16	0.16	0.16	0.15	0.15
Basic weighted average common shares outstanding (in shares)
25,523	-	25,520	25,615	25,759	-	25,965	25,958	25,950	-	25,935	25,927	25,903	-	25,867	25,853	25,923	-	26,164	26,212	26,258	-	26,262	26,485	24,317	-	24,366	24,367	24,321	-	24,279	24,263	24,259	-	24,213	24,254	24,271	24,247	24,284
Diluted weighted average common shares outstanding (in shares)
25,523	-	25,520	25,615	25,759	-	25,965	25,958	25,950	-	25,935	25,927	25,903	-	25,867	25,853	25,923	-	26,164	26,212	26,258	-	26,262	26,485	24,317	-	24,367	24,368	24,324	-	24,289	24,273	24,270	-	24,223	24,263	24,279	24,253	24,292
Trust and wealth advisory
Trust and wealth advisory, service charges on deposit accounts, and debit card income
4,848	5,269	4,982	5,583	4,858	4,974	5,109	5,800	5,188	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service charges on deposit accounts
Trust and wealth advisory, service charges on deposit accounts, and debit card income
2,605	2,835	2,892	2,785	2,498	2,778	2,567	2,625	2,484	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debit card
Trust and wealth advisory, service charges on deposit accounts, and debit card income
3,373	3,593	3,727	3,669	3,220	3,462	3,377	3,427	3,103	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leased equipment
Depreciation - leased equipment
5,427	6,006	6,198	6,400	6,524	-	6,580	6,684	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-