1st Source Corp (SRCE) Tops Q2 EPS by 3c

1st Source Corp (NASDAQ: SRCE) reported Q2 EPS of $0.64, $0.03 better than the analyst estimate of $0.61.

• Net income improved to $16.67 million, 15.13% over the second quarter of 2016 and diluted net income per common share improved to $0.64 from the prior year’s quarter of $0.56.
• Return on average assets of 1.20% and return on average common shareholders’ equity of 9.59%.
• Net charge-offs of $0.94 million and nonperforming assets to loans and leases of 0.66%.
• Average loans and leases grew $203.17 million or 4.95% from the second quarter of 2016.
• Average deposits grew $154.57 million or 3.59% from the second quarter of 2016.
• Net interest income increased $3.57 million or 8.44% from the second quarter of 2016.
• Noninterest income increased $1.84 million or 8.25% from the second quarter of 2016 (increased 5.86% excluding leased equipment depreciation).
• Noninterest expenses increased $1.07 million or 2.68% from the second quarter of 2016 (relatively flat excluding leased equipment depreciation).

For earnings history and earnings-related data on 1st Source Corp (SRCE) click here.

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