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1st Source (1st Source) Net Income : $123.3 Mil (TTM As of Mar. 2024)


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What is 1st Source Net Income?

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax. 1st Source's Net Income for the three months ended in Mar. 2024 was $29.5 Mil. Its Net Income for the trailing twelve months (TTM) ended in Mar. 2024 was $123.3 Mil.

Net Income is linked to the most popular Earnings per Share (Diluted) number. 1st Source's Earnings per Share (Diluted) for the three months ended in Mar. 2024 was $1.20.


1st Source Net Income Historical Data

The historical data trend for 1st Source's Net Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

1st Source Net Income Chart

1st Source Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Net Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 91.96 81.44 118.53 120.51 124.93

1st Source Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Net Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 31.12 32.44 32.94 28.43 29.46

1st Source Net Income Calculation

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax.

Net Income
= Revenue - Cost of Goods Sold - Selling, General, & Admin. Expense - Research & Development - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= EBITDA - Depreciation, Depletion and Amortization - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Operating Income - Interest Expense - Non Operating Income (NRI) - Tax Expense + Others
= Pre-Tax Income - Tax Expense + Others

1st Source's Net Income for the fiscal year that ended in Dec. 2023 is calculated as

Net Income(A: Dec. 2023 )
= Pre-Tax Income + Tax Provision + Net Income (Discontinued Operations) + Others
=161.68+-36.746+0+-0.0069999999999908
=124.9

1st Source's Net Income for the quarter that ended in Mar. 2024 is calculated as

Net Income(Q: Mar. 2024 )
= Pre-Tax Income + Tax Provision + Net Income (Discontinued Operations) + Others
=37.89+-8.428+0+-0.0070000000000014
=29.5

Net Income for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $123.3 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


1st Source  (NAS:SRCE) Net Income Explanation

Net Income is the most widely cited number in reporting a company's profitability. It is linked to the most popular earnings-per-share (EPS) number through:

1st Source's Earnings per Share (Diluted) (EPS) for the quarter that ended in Mar. 2024 is calculated as

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.

EPS is most useful for companies that have:

A predictable business
Consistent accounting methods
And few restructurings

The dividend paid to preferred stocks needs to be subtracted from the total net income in the calculation of EPS because common stock holders are not entitled to that part of the net income.


Be Aware

Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred Net Income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.

Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.

If net earnings is less than 10%, likely to be in a highly competitive business.


1st Source Net Income Related Terms

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1st Source (1st Source) Business Description

Traded in Other Exchanges
N/A
Address
100 North Michigan Street, South Bend, IN, USA, 46601
1st Source Corp along with its subsidiary offers banking services. The bank provides Commercial, Agricultural, and Real Estate Loans which are given to privately owned business clients mainly located within regional market area, Consumer Services that consists of full range of consumer banking products and services, Trust and Wealth Advisory Services which includes wide range of trust, investment, agency, and custodial services for individual, corporate, and not-for-profit clients, and Specialty Finance Group Services that provide a broad range of comprehensive equipment loan and lease products addressing the financing needs of a broad array of companies.
Executives
Daniel B Fitzpatrick director 4220 EDISON LAKES PKWY, C/O QUALITY DINING INC, MISHAWAKA IN 46545
Mark D Schwabero director BRUNSWICK CORPORATION, 1 N FIELD COURT, LAKE FOREST IL 60045
Isaac P. Torres director P O BOX 1602, SOUTH BEND IN 46634
Brett A. Bauer officer: Treasurer and CFO P O BOX 1602, SOUTH BEND IN 46634
Andrea G Short officer: Treasurer and CFO PO BOX 1602, SOUTH BEND IN 46634
Weybright Ronda Shrewsbury director P O BOX 1602, SOUTH BEND IN 46634
Tracy D Graham director PO BOX 1602, SOUTH BEND IN 46634
John T Phair director P.O. BOX 1602, SOUTH BEND IN 46634
Melody Birmingham-byrd director PO BOX 1602, SOUTH BEND IN 46634
Todd F. Schurz director P O BOX 1602, SOUTH BEND IN 46634
Murphy Christopher J Iii director, officer: Chairman, CEO P O BOX 1602, SOUTH BEND IN 46634
Carmen C Murphy 10 percent owner 1237 EAST JEFFERSON BOULEVARD, SOUTH BEND IN 46617
John B Griffith officer: Sr. VP/Secy. 1st Source Bank P O BOX 1602, SOUTH BEND IN 46634
John Afleck-graves director 3820 EDISON LAKES PARKWAY, MISHAWAKA IN 46545
Jeffrey L Buhr officer: Senior Vice President PO BOX 1602, SOUTH BEND IN 46634