1st Source (1st Source) Credit Losses Provision : $9.4 Mil (As of Dec. 2023)

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What is 1st Source Credit Losses Provision?

1st Source's credit losses provision for the three months ended in Dec. 2023 was $1.9 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $9.4 Mil.

1st Source's quarterly credit losses provision increased from Jun. 2023 ($0.0 Mil) to Sep. 2023 ($0.9 Mil) and increased from Sep. 2023 ($0.9 Mil) to Dec. 2023 ($1.9 Mil).

1st Source's annual credit losses provision increased from Dec. 2021 ($-4.3 Mil) to Dec. 2022 ($13.2 Mil) but then declined from Dec. 2022 ($13.2 Mil) to Dec. 2023 ($5.9 Mil).

1st Source Credit Losses Provision Historical Data

The historical data trend for 1st Source's Credit Losses Provision 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.

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1st Source Credit Losses Provision Chart

1st Source Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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15.83

36.00

-4.30

13.25

5.87

1st Source Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															3.05	0.05	0.86	1.91	6.60

1st Source Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $9.4 Mil.

1st Source (1st Source) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » 1st Source Corp (NAS:SRCE) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

N/A

Address

100 North Michigan Street, South Bend, IN, USA, 46601

Website

https://www.1stsource.com

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