The parent company of an area bank has been ranked the 10th best performing bank in the country. Bank Director Magazine bestowed that honor on 1st Source Corporation, based on 2015 results. The publication rated 102 banks with assets of between $5 and $50 billion on its Bank Performance Scorecard.
Rankings were developed using five key metrics that measure profitability, capitalization and asset quality. They include core return on average equity (ROAE), core return on average assets (ROAA), the ratio of tangible common equity (TCE) to tangible assets, the ratio of nonperforming assets to total loans and other real estate owned, and the ratio of net charge offs to average loans.
1st Source Corporation is the parent company of 1st Source bank. It has assets of $5.4 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 80 banking centers, 22 1st Source Bank Specialty Finance Group locations nationwide, eight Trust and Wealth Management locations and 10 1st Source Insurance offices.