1st Source Corp (SRCE) Raises Quarterly Dividend 3.2% to $0.32; 2.9% Yield

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Go back to 1st Source Corp (SRCE) Raises Quarterly Dividend 3.2% to $0.32; 2.9% Yield

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

April 20, 2023 7:47 AM EDT

QUARTERLY HIGHLIGHTS

Net income was $31.12 million for the quarter, up $3.73 million or 13.63% from the first quarter of 2022. Diluted net income per common share was $1.25, up $0.15 or 13.64% from the prior year's first quarter of $1.10.

Cash dividend of $0.32 per common share was approved, up 3.23% from the cash dividend declared a year ago.

Average loans and leases grew $195.61 million in the first quarter, up 3.35% (13.37% annualized growth) from the previous quarter and $711.86 million, up 13.37% from the first quarter of 2022.

Tax-equivalent net interest income was $69.79 million, down $1.88 million or 2.62% from... More