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1st Source Corporation Reports Third Quarter Results, Cash Dividend Declared

1st Source Corporation Reports Third Quarter Results, Cash Dividend Declared

第一銀行報告第三季度業績,宣佈現金股息
newsfile ·  10/25 04:00

QUARTERLY HIGHLIGHTS

季度亮點

  • Net income was $34.94 million for the quarter, up $2.00 million or 6.07% from the third quarter of 2023. Diluted net income per common share was $1.41, up $0.09 or 6.82% from the prior year's third quarter of $1.32.
  • Cash dividend of $0.36 cents per common share for the quarter was approved, up 12.50% from the cash dividend declared a year ago.
  • Tax-equivalent net interest income was $75.63 million, up $1.44 million or 1.94% from the second quarter of 2024 and up $6.22 million, or 8.97% from the third quarter a year ago. Tax-equivalent net interest margin was 3.64%, up five basis points from the previous quarter and up 18 basis points from the third quarter a year ago.
  • Net charge-offs of $0.85 million or 0.05% of average loans and leases occurred during the quarter compared to net recoveries of $1.99 million or 0.12% of average loans and leases during the previous quarter.
  • 本季度淨利潤爲3494萬美元,比2023年第三季度上漲200萬美元,增長6.07%。每股攤薄後的普通股淨利潤爲1.41美元,比去年同期的1.32美元上漲0.09美元,增幅達6.82%。
  • 本季度每股普通股的現金股息爲0.36美元,比一年前宣佈的現金股息上漲12.50%。
  • 稅當量淨利息收入爲7563萬美元,比2024年第二季度上漲144萬美元,增長1.94%,比一年前的第三季度增加622萬美元,增長8.97%。稅當量淨利息收益率爲3.64%,比上一季度提高五個點子,比一年前的第三季度提高了18個點子。
  • 本季度淨覈銷額爲85萬美元,佔平均貸款和租賃的0.05%,而上季度爲199萬美元,佔平均貸款和租賃的0.12%。

South Bend, Indiana--(Newsfile Corp. - October 24, 2024) - 1st Source Corporation (NASDAQ: SRCE), parent company of 1st Source Bank, today reported quarterly net income of $34.94 million for the third quarter of 2024, compared to $36.79 million the previous quarter and up 6.07% from the $32.94 million reported in the third quarter a year ago. Year-to-date 2024 net income was $101.19 million, up 4.86% compared to $96.50 million during the first nine months of 2023. Diluted net income per common share for the third quarter of 2024 was $1.41, down 5.37% compared to $1.49 in the previous quarter and up 6.82%, versus $1.32 in the third quarter of 2023. Diluted net income per common share for the first nine months of 2024 was $4.09, up 5.68% compared to $3.87 a year earlier.

印第安納州南本德(南本德)--(Newsfile Corp. - 2024年10月24日)--第一資料股份有限公司(納斯達克股票代碼:SRCE)的母公司第一銀行公司報告了2024年第三季度的季度淨收入爲3494萬美元,而上季度爲3679萬美元,比去年同期的3294萬美元增長了6.07%。截至2024年迄今,淨收入爲10119萬美元,比2023年前九個月的9650萬美元增長了4.86%。2024年第三季度每股攤薄後的淨收入爲1.41美元,比上一季度的1.49美元下降了5.37%,較2019年第三季度的1.32美元增長了6.82%。2024年前九個月每股攤薄後的淨收入爲4.09美元,比去年同期的3.87美元增長了5.68%。

At its October 2024 meeting, the Board of Directors approved a cash dividend of $0.36 cents per common share, up 12.50% from the cash dividend declared a year ago. The cash dividend is payable to shareholders of record on November 5, 2024, and will be paid on November 15, 2024.

在2024年10月的會議上,董事會批准了每股普通股0.36美元的現金分紅,比一年前宣佈的現金分紅增加了12.50%。現金分紅將支付給2024年11月5日記錄的股東,並將在2024年11月15日支付。

Christopher J. Murphy III, Chairman and Chief Executive Officer, commented, "We are pleased with our increase in revenue and net interest margin expansion compared to the previous quarter. Disciplined loan and lease pricing lead to a five basis point improvement from the prior quarter. This marks the fourth consecutive quarter of margin expansion despite persistent deposit rate competition as the Federal Reserve raised rates or held them steady over that period. They have recently begun to lower rates.

主席兼首席執行官克里斯托弗·J·墨菲三世評論說:「我們非常高興看到與上一季度相比收入增加和淨利息收益率擴張。規範的貸款和租賃定價使較先前季度提高了五個點子。這標誌着儘管聯儲局在此期間加息或維持穩定,但利率競爭仍然激烈,此舉已連續第四個季度擴張。他們最近開始降低利率。」

"While still very good, credit was challenged in the quarter with elevated net charge-offs, the majority of which were from one business account. Nonperforming assets to loans and leases at September 30, 2024, was 0.47%, up from 0.31% at June 30, 2024, and the allowance for loan and lease losses as a percentage of total loans and leases remained strong at 2.30% up from 2.26% the previous quarter.

儘管季度表現非常不錯,但信用面臨挑戰,淨覈銷升高,其中大部分來自一個業務帳戶。2024年9月30日的不良資產貸款比例爲0.47%,高於2024年6月30日的0.31%,而貸款和租賃損失準備金佔總貸款和租賃比例保持在2.30%,高於上一季度的2.26%。

"We were very pleased to learn during the third quarter that 1st Source Bank won several accolades. We made Forbes' America's Best-in-State Employers list, which was created by surveying more than 160,000 employees working for companies that had at least 500 employees in the United States. Also, 1st Source Bank's Specialty Finance Group was included in Monitor's Best Companies in Equipment Finance in the Leadership category. Great leadership was defined for this award to include attributes such as accessibility, transparency, communication, and collaboration - an apt description of our Bank leadership team.

我們非常高興在第三季度得知第一銀行贏得了多個獎項。我們入選了Forbes的美國最佳州內僱主名單,該名單是通過對在美國至少有500名員工的公司進行調查而制定的。此外,第一銀行的專業金融集團還入選了《Monitor》的設備金融最佳公司領導類別。這一獎項定義出色的領導力,包括可訪問性、透明度、溝通和合作等屬性,這恰好描述了我們銀行領導團隊。

"Another welcome honor was when two of our board members along with myself, were named to the Indiana 250 list by IBJ Media. Isaac Torres and Tracy Graham were both included in the list which identifies the state's most influential community and business leaders. We are thrilled to have both Isaac and Tracy's experience and leadership on our Board of Directors. Finally, we once again made the Piper Sandler Sm-All Stars list in the Class of 2024. This list identifies the top performing small-cap banks and thrifts in the U.S. These honors speak directly to our values and mission in the ways that we deliver both for our clients and colleagues - helping them achieve security, build wealth, and realize their dreams." Mr. Murphy concluded.

另一個受到歡迎的榮譽是,我和我們董事會的另外兩名成員,Isaac Torres和Tracy Graham,被IBJ Media評選爲《印第安納250強》名單成員。這份名單確定了該州最具影響力的社區和商業領袖。我們很高興董事會的成員Isaac和Tracy能夠爲我們的董事會帶來經驗和領導力。最後,我們再次入選了2024年派傑投資Sm-All Stars名單。該名單確定了美國表現最好的小市值銀行和儲蓄銀行。這些榮譽直接反映了我們的價值觀和使命,即我們如何爲客戶和同事提供服務,幫助他們實現安全、積累財富和實現夢想。Murphy先生總結道。

THIRD QUARTER 2024 FINANCIAL RESULTS

2024年第三季度財務結果

Loans

貸款

Third quarter average loans and leases were $6.61 billion, which was flat compared to the previous quarter, and increased $359.79 million, up 5.76% from the third quarter a year ago. Year-to-date average loans and leases increased $430.26 million to $6.57 billion, up 7.01% from the first nine months of 2023.

第三季度平均貸款和租賃額爲66.1億美元,與上一季度持平,較去年同期增加35979萬美元,同比增長5.76%。截至目前的年度平均貸款和租賃額增加了43026萬美元,達到65.7億美元,比2023年前九個月增長了7.01%。

Deposits

存款

Third quarter average deposits were $7.13 billion, which was down $49.25 million, or 0.69%, from the previous quarter, and up $184.32 million or 2.65% compared to the quarter ended September 30, 2023. Average deposits for the first nine months of 2024 were $7.11 billion, an increase of $190.13 million, up 2.75% from the same period a year ago. Average deposit balances declined from the previous quarter primarily due to expected seasonal public fund outflows and lower brokered deposit balances. Average deposit balance growth from the third quarter of 2023 was primarily in savings, time, and brokered deposits.

第三季度平均存款爲71.3億美元,較上一季度減少4925萬美元,下降了0.69%,較2023年9月30日結束的季度增加了18432萬美元,增長了2.65%。2024年前九個月的平均存款爲71.1億美元,比去年同期增加了19013萬美元,增長了2.75%。平均存款餘額從上一季度開始下降,主要是由於季節性公共基金支出和券商存款餘額減少所致。從2013年第三季度開始,存款平均餘額主要增長在儲蓄、定期和券商存款。

Net Interest Income and Net Interest Margin

淨利息收益和淨利息收益率

Third quarter 2024 tax-equivalent net interest income increased $1.44 million to $75.63 million, up 1.94% from the previous quarter and increased $6.22 million, up 8.97% from the third quarter a year ago. For the first nine months of 2024, tax equivalent net interest income increased $14.00 million to $221.89 million, up 6.73% from the first nine months of 2023.

2024年第三季度稅當量的淨利息收入增加了144萬美元,達到7563萬美元,比上一季度增加了1.94%,比一年前的第三季度增加了622萬美元,增長了8.97%。到2024年前九個月,稅相當的淨利息收入增加了1400萬美元,達到22189萬美元,比2023年前九個月增加了6.73%。

Third quarter 2024 net interest margin was 3.63%, an increase of four basis points from the 3.59% in the previous quarter and an increase of 18 basis points from the same period in 2023. On a fully tax-equivalent basis, third quarter 2024 net interest margin was 3.64%, up five basis points compared to the 3.59% in the previous quarter, and an increase of 18 basis points from the same period in 2023. The five basis point increase from the prior quarter was primarily due to higher rates on loan balances and less reliance on higher costing short-term borrowings.

2024年第三季度淨利息收益率爲3.63%,比上一季度的3.59%增加四個基本點,比2023年同期增加了18個基本點。按全面稅當量計算,2024年第三季度的淨利息收益率爲3.64%,比上一季度的3.59%增加了五個基本點,並同比2023年同期增加了18個基本點。與前一季度相比,五個基本點的增加主要是由於貸款餘額的利率較高,對更高成本的短期借款依賴較少。

Net interest margin for the first nine months of 2024 was 3.58%, an increase of eight basis points compared to the first nine months of 2023. Net interest margin on a fully-tax equivalent basis for the first nine months of 2024 was 3.59%, an increase of eight basis points compared to the first nine months of the prior year.

2024年前九個月的淨利息收益率爲3.58%,比2023年前九個月增加了八個基本點。2024年前九個月的全面稅當量淨利息收益率爲3.59%,比前一年同期增加了八個基本點。

Noninterest Income

非利息收入

Third quarter 2024 noninterest income of $22.45 million was down $0.77 million, or 3.33% from the previous quarter, and decreased $2.01 million, down 8.21% compared to the third quarter a year ago. For the first nine months of 2024, noninterest income was $67.83 million, a decrease of $2.72 million, down 3.86% from the same period a year ago.

2024年第三季度的非利息收入爲2245萬美元,比上一季度減少了77萬美元,下降了3.33%,比一年前的第三季度減少了201萬美元,下降了8.21%。到2024年前九個月,非利息收入爲6783萬美元,與一年前同期相比減少了272萬美元,下降了3.86%。

The decrease in noninterest income compared to the previous quarter was mainly due to lower trust and wealth advisory income from seasonal tax preparation fees during the second quarter, a decline in mortgage banking income from lower sales volumes, a decrease in partnership investment gains, lower interest rate swaps fees, and a reduction in equipment rental income as demand for leases declined. These decreases were offset by increased bank owned life insurance policy claims recognized.

與上一季度相比,非利息收入減少主要是因爲第二季度季節性稅費準備費用的信託和財富諮詢收入減少,來自低銷售量的抵押銀行業收入下降,合夥投資收益減少,利率互換費用減少,以及隨着租金需求下降,設備租賃收入減少。這些減少部分被銀行擁有人壽保險單索賠增加所抵銷。

The decrease in noninterest income compared to the third quarter and first nine months of 2023 was primarily due to fewer gains on the sale of renewable energy tax equity investments, reduced equipment rental income as demand for leases declined, lower contingent insurance commissions received, a decline in bank owned life insurance policy claims recognized, and less interest rate swap fees. These declines were offset by higher trust and wealth advisory income due to improvements in overall market performance and increased mortgage banking income from higher sales volumes and margins.

與2023年第三季度和前9個月相比,非利息收入下降主要是因爲可再生能源稅收權益投資銷售收益減少,隨着租賃需求下降,設備租賃收入減少,佣金保險抵付減少,銀行擁有人壽保險單索賠下降,以及較低的利率互換費用。這些減少部分被信託和財富諮詢收入增加所抵銷,因爲整體市場表現改善,以及來自更高銷售量和邊際的抵押銀行業收入增加。

Noninterest Expense

非利息費用

Third quarter 2024 noninterest expense of $49.44 million was flat compared to the prior quarter and decreased $0.72 million or 1.44% from the third quarter a year ago. For the first nine months of 2024, noninterest expense was $148.52 million, down slightly from the same period a year ago.

2024年第三季度4944萬美元的非利息支出與上個季度相比基本持平,與一年前的第三季度相比減少了72萬美元,降幅爲1.44%。到2024年前9個月,非利息支出爲14852萬美元,與一年前的同期略有下降。

Total noninterest income was flat compared to the previous quarter. Increases were the result of higher employee benefit costs from increased group insurance claims and higher incentive compensation. These increases were offset by a decrease in the provision for unfunded loan commitments due to higher loan fundings and higher gains on the sale of fixed assets.

總非利息收入與上一季度基本持平。增加部分是由於因員工福利成本增加導致的集體保險索賠增加和更高的激勵報酬。這些增長部分被未擔保貸款承諾準備金減少,因貸款資金增加和固定資產出售收益增加所抵銷。

The decrease in noninterest expense compared to the third quarter and first nine months of 2023, was the result of a decrease in the loan loss provision for unfunded commitments due to higher loan fundings, lower leased equipment depreciation, reduced group insurance claims, and higher gains on the sale of fixed assets. These decreases were offset by higher salaries and wages from normal merit increases, the impact of wage inflation and an increase in the number of employees filling prior open positions, increased data processing costs from technology projects, and an increase in professional fees as a result of a $1.08 million reversal of accrued legal fees during the first quarter of 2023.

與2023年第三季度和前9個月相比,非利息支出減少是由於由於數項原因,比如由於貸款資金增加導致未擔保承諾的貸款損失減少,租賃設備折舊減少,集體保險索賠減少,固定資產出售收益增加。這些減少部分被來自正常工資增長、工資通脹影響以及填補之前崗位空缺人員數量增加導致的薪水和工資增加,來自技術項目的數據處理成本增加,以及由於2023年第一季度時的108萬美元法律費用減少而導致的專業費用增加所抵銷。

Credit

信用貸款

The allowance for loan and lease losses increased to $152.32 million as of September 30, 2024, or 2.30% of total loans and leases. This percentage compared to 2.26% at June 30, 2024, and 2.27% at September 30, 2023. Net charge-offs of $0.85 million were recorded for the third quarter of 2024, compared with net recoveries of $1.99 million in the prior quarter and net charge-offs of $0.33 million in the same quarter a year ago. The majority of the third quarter's charge-offs related to one account in the commercial and agricultural portfolio.

到2024年9月30日,貸款和租賃損失的準備金增至15232萬美元,佔總貸款和租賃金額的2.30%。與2024年6月30日的2.26%和2023年9月30日的2.27%相比,這一百分比略有增加。2024年第三季度的淨覈銷金額爲85萬美元,較上一季度的淨收回199萬美元以及去年同期的淨覈銷33萬美元有所增加。第三季度大多數覈銷款項與商業和農業組合中的一個帳戶有關。

The provision for credit losses was $3.11 million for the third quarter of 2024, an increase of $3.05 million from the previous quarter and an increase of $2.25 million compared with the same period in 2023. Net charge-offs and higher special attention outstandings compared to net recoveries in the previous quarter were the primary reasons for the increase in the provision for credit losses during the quarter, along with a change in quantitative assumptions during the quarter regarding the treatment of renewals for loans in special attention. The ratio of nonperforming assets to loans and leases was 0.47% as of September 30, 2024, compared to 0.31% on June 30, 2024, and 0.27% on September 30, 2023.

2024年第三季度信貸損失準備金爲311萬美元,較上一季度增加305萬美元,較2023年同期增加225萬美元。相對於上一季度淨收回,淨覈銷以及更高關注外部比上一季度有所增長是導致本季度信貸損失準備金增加的主要原因,另外還包括本季度關於特別注意貸款更新處理量化假設的變化。截至2024年9月30日,不良資產與貸款和租賃的比率爲0.47%,而2024年6月30日爲0.31%,2023年9月30日爲0.27%。

Capital

資本

As of September 30, 2024, the common equity-to-assets ratio was 12.60%, compared to 11.75% at June 30, 2024, and 10.84% a year ago. The tangible common equity-to-tangible assets ratio was 11.76% at September 30, 2024, compared to 10.91% at June 30, 2024, and 9.96% a year earlier. The Common Equity Tier 1 ratio, calculated under banking regulatory guidelines, was 14.18% at September 30, 2024, compared to 13.74% at June 30, 2024, and 13.31% a year ago.
Capital accretion over the last twelve months has been driven primarily by growth in retained earnings and a reduction in unrealized losses in our short-duration investment securities available-for-sale portfolio.

截至2024年9月30日,普通股權益資產比率爲12.60%,而2024年6月30日爲11.75%,一年前爲10.84%。有形普通股權益與有形資產比率在2024年9月30日爲11.76%,2024年6月30日爲10.91%,一年前爲9.96%。根據銀行監管指引計算的共同股權一級比率在2024年9月30日爲14.18%,而2024年6月30日爲13.74%,一年前爲13.31%。
過去12個月的資本增加主要來自留存收益的增長以及我們可供出售的短期投資證券組合未實現損失的減少。

No shares were repurchased for treasury during the third quarter of 2024.

2024年第三季度未回購任何股票。

ABOUT 1ST SOURCE CORPORATION

關於第一資源公司

1st Source common stock is traded on the NASDAQ Global Select Market under "SRCE" and appears in the National Market System tables in many daily newspapers under the code name "1st Src." Since 1863, 1st Source has been committed to the success of its clients, individuals, businesses and the communities it serves. For more information, visit .

第一資源普通股在納斯達克全球精選市場上以"SRCE"交易,並出現在許多每日報紙的全國市場系統表中,代碼名稱爲"1st Src." 自1863年以來,第一資源一直致力於其客戶、個人、企業和所服務的社區的成功。要獲取更多信息,請訪問。

1st Source serves the northern half of Indiana and southwest Michigan and is the largest locally controlled financial institution headquartered in the area. While delivering a comprehensive range of consumer and commercial banking services through its community bank offices, 1st Source has distinguished itself with highly personalized services. 1st Source Bank also competes for business nationally by offering specialized financing services for new and used private and cargo aircraft, automobiles for leasing and rental agencies, medium and heavy-duty trucks, and construction equipment. The Corporation includes 77 banking centers, 18 1st Source Bank Specialty Finance Group locations nationwide, nine Wealth Advisory Services locations, 10 1st Source Insurance offices, and three loan production offices.

第一資源服務印第安納州北部和密歇根西南部,是該地區最大的本地控制金融機構總部所在地。 通過其社區銀行辦事處提供全面的消費者和商業銀行服務,第一資源以其高度個性化的服務脫穎而出。 第一資源銀行還通過爲新舊私人和貨物飛機、汽車租賃和租賃代理、中重型卡車以及建築設備提供專門的融資服務而在全國競爭。 公司包括77家銀行中心、18家第一資源銀行專業金融集團全國位置、九家財富諮詢服務位置、十家第一資源保險辦事處和三家貸款生產辦事處。

FORWARD-LOOKING STATEMENTS

前瞻性聲明

Except for historical information contained herein, the matters discussed in this document express "forward-looking statements." Generally, the words "believe," "contemplate," "seek," "plan," "possible," "assume," "hope," "expect," "intend," "targeted," "continue," "remain," "estimate," "anticipate," "project," "will," "should," "indicate," "would," "may" and similar expressions indicate forward-looking statements. Those statements, including statements, projections, estimates or assumptions concerning future events or performance, and other statements that are other than statements of historical fact, are subject to material risks and uncertainties. 1st Source cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made.

除本文件中包含的歷史信息外,本文件討論的問題表達了"前瞻性陳述." 一般的,"相信," "考慮," "尋求," "計劃," "可能," "假設," "希望," "期望," "打算," "目標," "繼續," "保持," "估計," "預計," "預測," "將," "應該," "表示," "可能" 和類似的表達表示前瞻性陳述。 這些聲明,包括關於未來事件或表現的陳述、預測、估計或假設,以及其他非歷史事實的陳述,均受重大風險和不確定性的影響。 第一資源提醒讀者不要過分依賴任何前瞻性陳述,這些陳述僅於發表之日起有效。

1st Source may make other written or oral forward-looking statements from time to time. Readers are advised that various important factors could cause 1st Source's actual results or circumstances for future periods to differ materially from those anticipated or projected in such forward-looking statements. Such factors, among others, include changes in laws, regulations or accounting principles generally accepted in the United States; 1st Source's competitive position within its markets served; increasing consolidation within the banking industry; unforeseen changes in interest rates; unforeseen downturns in the local, regional or national economies or in the industries in which 1st Source has credit concentrations; and other risks discussed in 1st Source's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, which filings are available from the SEC. 1st Source undertakes no obligation to publicly update or revise any forward-looking statements.

第一資源可能不時發表其他書面或口頭前瞻性聲明。 建議讀者注意,各種重要因素可能導致未來時期第一資源的實際結果或狀況與預期或在此類前瞻性聲明中所投影的情況有實質性差異。 諸如此類因素,包括但不限於,美國普遍接受的法律、法規或會計準則的變化;第一資源在所服務市場中的競爭地位; 銀行業內不斷增加的整合; 未預料到的利率變化; 本地、區域或國家經濟或第一資源具有信貸集中度所在行業的未預料的下滑; 以及第一資源所在行業的其他風險,詳見第一資源提交給美國證券交易委員會的備案,包括其年度10-k表。 第一資源不承擔公開更新或修改任何前瞻性陳述的責任。

NON-GAAP FINANCIAL MEASURES

非GAAP財務指標

The accounting and reporting policies of 1st Source conform to generally accepted accounting principles ("GAAP") in the United States and prevailing practices in the banking industry. However, certain non-GAAP performance measures are used by management to evaluate and measure the Company's performance. Although these non-GAAP financial measures are frequently used by investors to evaluate a financial institution, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. These include taxable-equivalent net interest income (including its individual components), net interest margin (including its individual components), the efficiency ratio, tangible common equity-to-tangible assets ratio and tangible book value per common share. Management believes that these measures provide users of the Company's financial information a more meaningful view of the performance of the interest-earning assets and interest-bearing liabilities and of the Company's operating efficiency. Other financial holding companies may define or calculate these measures differently.

第一來源的會計和報告政策符合美國通用會計原則("GAAP")和銀行業中的慣例。然而,管理層使用某些非GAAP績效指標來評估和衡量公司的表現。儘管這些非GAAP財務指標經常被投資者用來評估金融機構,但它們作爲分析工具存在侷限性,不應孤立地或作爲對GAAP下報告結果的分析的替代。這些指標包括應稅等值淨利息收入(包括其各個組成部分)、淨息差(包括其各個組成部分)、效率比率、有形普通股權益與有形資產比率和每股有形賬面價值。管理層認爲,這些指標使公司財務信息的用戶能更好地了解利息收入資產和利息負債以及公司運營效率的表現。其他金融控股公司可能對這些指標的定義或計算方法有不同。

Management reviews yields on certain asset categories and the net interest margin of the Company and its banking subsidiaries on a fully taxable-equivalent ("FTE") basis. In this non-GAAP presentation, net interest income is adjusted to reflect tax-exempt interest income on an equivalent before-tax basis. This measure ensures comparability of net interest income arising from both taxable and tax-exempt sources. Net interest income on a FTE basis is also used in the calculation of the Company's efficiency ratio. The efficiency ratio, which is calculated by dividing non-interest expense by total taxable-equivalent net revenue (less securities gains or losses and lease depreciation), measures how much it costs to produce one dollar of revenue. Securities gains or losses and lease depreciation are excluded from this calculation to better match revenue from daily operations to operational expenses. Management considers the tangible common equity-to-tangible assets ratio and tangible book value per common share as useful measurements of the Company's equity.

管理層審查公司特定資產類別的收益率和公司及其銀行子公司的淨利息收益率,採用完全徵稅等值("FTE")基礎。在這種非GAAP報告中,淨利息收入經過調整,以在稅前等同的基礎上反映免稅利息收入。這個指標確保了稅收和免稅來源的淨利息收入的可比性。FTE基礎的淨利息收入也用於計算公司的效率比率。效率比率是通過將非利息支出除以總應稅等值淨收入(減去證券盈利或虧損和租賃折舊)來計算的,衡量生產一美元收入的成本。從這個計算中排除了證券盈利或虧損和租賃折舊,以更好地匹配日常運營的收入和運營支出。管理層認爲有形普通股權益與有形資產比率和每股有形賬面價值是評估公司權益的有用指標。

See the table marked "Reconciliation of Non-GAAP Financial Measures" for a reconciliation of certain non-GAAP financial measures used by the Company with their most closely related GAAP measures.

請查看標有「非GAAP財務指標和最相關GAAP財務指標的調節表」,了解公司使用的某些非GAAP財務指標與其最相關的GAAP指標之間的調節情況。

Category: Earnings

類別:收益

# # #

# # #

(charts attached)

(附有圖表)

1st SOURCE CORPORATION
3rd QUARTER 2024 FINANCIAL HIGHLIGHTS
(Unaudited - Dollars in thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, June 30, September 30, September 30, September 30,
2024 2024 2023 2024 2023
AVERAGE BALANCES
Assets $ 8,719,824 $ 8,761,006 $ 8,417,391 $ 8,711,023 $ 8,368,054
Earning assets 8,273,301 8,303,518 7,963,537 8,253,068 7,917,763
Investments 1,539,219 1,554,362 1,645,906 1,567,123 1,703,626
Loans and leases 6,605,677 6,606,209 6,245,883 6,572,108 6,141,849
Deposits 7,134,426 7,183,678 6,950,105 7,109,827 6,919,695
Interest bearing liabilities 5,806,983 5,922,916 5,566,874 5,837,681 5,470,305
Common shareholders' equity 1,079,543 1,027,138 940,544 1,037,809 919,182
Total equity 1,150,795 1,098,740 999,552 1,111,540 987,461
INCOME STATEMENT DATA
Net interest income $ 75,486 $ 74,050 $ 69,236 $ 221,451 $ 207,317
Net interest income - FTE(1) 75,630 74,194 69,406 221,887 207,892
Provision for credit losses 3,108 56 859 9,759 3,955
Noninterest income 22,448 23,221 24,455 67,825 70,547
Noninterest expense 49,443 49,491 50,166 148,520 148,752
Net income 34,914 36,805 32,939 101,181 96,517
Net income available to common shareholders 34,937 36,793 32,939 101,185 96,498
PER SHARE DATA
Basic net income per common share $ 1.41 $ 1.49 $ 1.32 $ 4.09 $ 3.87
Diluted net income per common share 1.41 1.49 1.32 4.09 3.87
Common cash dividends declared 0.36 0.34 0.32 1.04 0.96
Book value per common share(2) 45.05 42.58 37.83 45.05 37.83
Tangible book value per common share(1) 41.62 39.16 34.40 41.62 34.40
Market value - High 65.63 53.74 49.36 65.63 53.85
Market value - Low 51.80 47.30 40.96 47.30 38.77
Basic weighted average common shares outstanding 24,514,144 24,495,495 24,660,508 24,489,665 24,677,914
Diluted weighted average common shares outstanding 24,514,144 24,495,495 24,660,508 24,489,665 24,677,914
KEY RATIOS
Return on average assets 1.59 % 1.69 % 1.55 % 1.55 % 1.54 %
Return on average common shareholders' equity 12.87 14.41 13.89 13.02 14.04
Average common shareholders' equity to average assets 12.38 11.72 11.17 11.91 10.98
End of period tangible common equity to tangible assets(1) 11.76 10.91 9.96 11.76 9.96
Risk-based capital - Common Equity Tier 1(3) 14.18 13.74 13.31 14.18 13.31
Risk-based capital - Tier 1(3) 15.84 15.38 14.86 15.84 14.86
Risk-based capital - Total(3) 17.10 16.64 16.12 17.10 16.12
Net interest margin 3.63 3.59 3.45 3.58 3.50
Net interest margin - FTE(1) 3.64 3.59 3.46 3.59 3.51
Efficiency ratio: expense to revenue 50.49 50.88 53.54 51.34 53.53
Efficiency ratio: expense to revenue - adjusted(1) 50.32 50.78 54.24 51.20 53.46
Net charge-offs (recoveries) to average loans and leases 0.05 (0.12)
0.02 0.10 (0.02)
Loan and lease loss allowance to loans and leases 2.30 2.26 2.27 2.30 2.27
Nonperforming assets to loans and leases 0.47 0.31 0.27 0.47 0.27
September 30, June 30, March 31, December 31, September 30,
2024 2024 2024 2023 2023
END OF PERIOD BALANCES
Assets $ 8,763,946 $ 8,878,003 $ 8,667,837 $ 8,727,958 $ 8,525,058
Loans and leases 6,616,100 6,652,999 6,562,772 6,518,505 6,353,648
Deposits 7,125,944 7,195,924 7,055,311 7,038,581 6,967,492
Allowance for loan and lease losses 152,324 150,067 148,024 147,552 144,074
Goodwill and intangible assets 83,902 83,907 83,912 83,916 83,921
Common shareholders' equity 1,104,253 1,043,515 1,009,886 989,568 924,250
Total equity 1,175,205 1,114,855 1,081,549 1,068,263 982,997
ASSET QUALITY
Loans and leases past due 90 days or more $ 100 $ 185 $ 26 $ 149 $ 154
Nonaccrual loans and leases 30,678 20,297 22,097 23,381 16,617
Other real estate
117
Repossessions 109 352 308 705 233
Total nonperforming assets $ 30,887 $ 20,834 $ 22,431 $ 24,235 $ 17,121
第一資產公司
2024年第三季度財務亮點
(未經審計 - 單位爲千美元,除每股數據外)
三個月之內結束 九個月結束
2020年9月30日 6月30日, 2020年9月30日 2020年9月30日 2020年9月30日
2024 2024 2023 2024 2023
平均餘額
資產 $ 8,719,824 $ 8,761,006 $ 8,417,391 $ 8,711,023 $ 8,368,054
盈利資產 8,273,301 8,303,518 7,963,537 8,253,068 7,917,763
投資 1,539,219 1,554,362 1,645,906 1,567,123 1,703,626
貸款和租賃 6,605,677 6,606,209 6,245,883 6,572,108 6,141,849
存款 7,134,426 7,183,678 6,950,105 7,109,827 6,919,695
利息負債 5,806,983 5,922,916 5,566,874 5,837,681 5,470,305
普通股股東權益 1,079,543 1,027,138 940,544 1,037,809 919,182
股東權益總計 1,150,795 1,098,740 999,552 1,111,540 987,461
利潤表數據
淨利息收入 $ 75,486 $ 74,050 $ 69,236 $ 221,451 $ 207,317
淨利息收益率 - FTE(1) 75,630 74,194 221,887 207,892
撥備 3,108 56 859 9,759 3955
非利息收入 22,448 23,221 24,455 67,825 70,547
非利息支出 49,443 49,491 50,166 148,520 148,752
淨收入 34,914 36,805 32,939 101,181 96,517
淨利潤可供普通股股東 34,937 31,797,089 32,939 101,185 96,498
每股數據
每股基本淨利潤 $ 1.41 $ 1.49 $ 1.32 $ ,有效利率爲4.09% $ 3.87
每股稀釋淨利潤 1.41 1.49 1.32 ,有效利率爲4.09% 3.87
常見的現金股利宣佈 0.36 0.34 0.32 1.04 0.96
每股普通股賬面價值(2) 45.05 42.58 37.83 45.05 37.83
每股有形賬面價值(1) 41.62 39.16 34.40 41.62 34.40
市值-高 65.63 53.74 49.36 65.63 53.85
市值 - 低 51.80 47.30 40.96 47.30 38.77
基本加權平均每股普通股股數 24,514,144 24,495,495 24,660,508 24,489,665 24,677,914
稀釋後加權平均每股普通股股數 24,514,144 24,495,495 24,660,508 24,489,665 24,677,914
重要比率
平均資產回報率 1.59 % 1.69 % 1.55 % 1.55 % 1.54 %
平均普通股股東權益回報率 12.87 14.41 13.89 13.02 根據2024年6月20日納斯達克全球精選市場對我們的普通股的最後報價,假設我們以44.21美元/股的假定發行價格,在出售總計3.5億美元的普通股後,扣除代理費用和預計總髮行費,截至2024年3月31日,我們的每股普通股淨有形資產是14.04美元。
Average common shareholders' equity to average assets 12.38 11.72 11.17 11.91 10.98
期末有形普通股權益佔有形資產比率(1) 11.76 10.91 9.96 11.76 9.96
風險資本-普通股一級資本(3) 14.18 13.74 13.31 14.18 13.31
基於風險資本 - 第一層(3) 15.84 15.38 14.86 15.84 14.86
基於風險資本 - 總計(3) 17.10 16.64 16.12 17.10 16.12
淨利息收益率 3.63 3.59 3.45 3.58 3.50
淨利息收益率 - FTE(1) 3.64 3.59 3.46 3.59 3.51
效率比:費用與營收比例 50.49 50.88 53.54 51.34 53.53
效率比:費用與營收比例 - 調整(1) 50.32 50.78 54.24 51.20 53.46
淨覈銷(回收)佔平均貸款和租賃 0.05 (0.12)
0.02 0.10 (0.02)
貸款和租賃損失準備金佔貸款和租賃比例 2.30 每股可歸新投資者的貢獻 2.27 2.30 2.27
不良資產與貸款及租賃業務 0.47 0.31 0.27 0.47 0.27
2020年9月30日 6月30日, 3月31日 12月31日 2020年9月30日
2024 2024 2024 2023 2023
期末餘額
資產 $ 8,763,946 $ 8,878,003 $ 8,667,837 $ 8,727,958 $ 8,525,058
貸款和租賃 6,616,100 6,652,999 6,562,772 6,518,505 6,353,648
存款 7,125,944 7,195,924 7,055,311 7,038,581 6,967,492
貸款和租賃損失撥備 152324 150,067 148,024 147,552 144,074
商譽和無形資產 83,902 83,907 83,912 83,916 83,921
普通股股東權益 1,104,253 1,043,515 1,009,886 989,568 924,250
股東權益總計 1,175,205 1,114,855 1,081,549 1,068,263 982,997
資產質量
貸款和租賃逾期90天或更長時間 $ 100 $ 185 $ 26 $ 149 $ 154
不應計貸款和租賃 30,678 20,297 22,097 23,381 16,617
其他房地產業
117
回收 109 352 308 705 233
總不良資產 $ 30,887 $ 20,834 $ 22,431 $ 24,235 $ 17,121

(1) See "Reconciliation of Non-GAAP Financial Measures" for more information on this performance measure/ratio.
(2) Calculated as common shareholders' equity divided by common shares outstanding at the end of the period.
(3) Calculated under banking regulatory guidelines.

(1) 請查看"非通用會計財務指標協調",以獲取有關此績效指標/比率的更多信息。
(2) 計算方法爲普通股股東權益除以期末普通股份。
(3) 根據銀行監管指南計算。

1st SOURCE CORPORATION
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited - Dollars in thousands)
September 30, June 30, December 31, September 30,
2024 2024 2023 2023
ASSETS
Cash and due from banks $ 99,900 $ 89,592 $ 77,474 $ 75,729
Federal funds sold and interest bearing deposits with other banks 69,461 179,651 52,194 35,406
Investment securities available-for-sale, at fair value 1,563,461 1,523,548 1,622,600 1,605,242
Other investments 23,855 24,585 25,075 25,075
Mortgages held for sale 3,690 2,763 1,442 3,118
Loans and leases, net of unearned discount:
Commercial and agricultural 723,176 721,235 766,223 763,051
Renewable energy 479,947 459,441 399,708 364,949
Auto and light truck 949,473 1,009,967 966,912 901,484
Medium and heavy duty truck 299,208 315,157 311,947 323,202
Aircraft 1,065,801 1,058,591 1,078,172 1,079,581
Construction equipment 1,141,367 1,132,556 1,084,752 1,062,097
Commercial real estate 1,156,823 1,164,598 1,129,861 1,088,199
Residential real estate and home equity 664,581 654,357 637,973 627,515
Consumer 135,724 137,097 142,957 143,570
Total loans and leases 6,616,100 6,652,999 6,518,505 6,353,648
Allowance for loan and lease losses (152,324)
(150,067)
(147,552)
(144,074)
Net loans and leases 6,463,776 6,502,932 6,370,953 6,209,574
Equipment owned under operating leases, net 13,011 13,886 20,366 24,096
Premises and equipment, net 48,185 48,201 46,159 43,951
Goodwill and intangible assets 83,902 83,907 83,916 83,921
Accrued income and other assets 394,705 405,938 427,779 418,946
Total assets $ 8,763,946 $ 8,875,003 $ 8,727,958 $ 8,525,058
LIABILITIES
Deposits:
Noninterest-bearing demand $ 1,635,981 $ 1,578,762 $ 1,655,728 $ 1,680,725
Interest-bearing deposits:
Interest-bearing demand 2,404,805 2,543,724 2,430,833 2,416,864
Savings 1,242,551 1,255,154 1,213,334 1,180,837
Time 1,842,607 1,818,284 1,738,686 1,689,066
Total interest-bearing deposits 5,489,963 5,617,162 5,382,853 5,286,767
Total deposits 7,125,944 7,195,924 7,038,581 6,967,492
Short-term borrowings:
Federal funds purchased and securities sold under agreements to repurchase 63,553 70,767 55,809 48,335
Other short-term borrowings 102,124 217,450 256,550 223,757
Total short-term borrowings 165,677 288,217 312,359 272,092
Long-term debt and mandatorily redeemable securities 39,220 39,136 47,911 46,533
Subordinated notes 58,764 58,764 58,764 58,764
Accrued expenses and other liabilities 199,136 181,107 202,080 197,180
Total liabilities 7,588,741 7,763,148 7,659,695 7,542,061
SHAREHOLDERS' EQUITY
Preferred stock; no par value




Authorized 10,000,000 shares; none issued or outstanding
Common stock; no par value




Authorized 40,000,000 shares; issued 28,205,674 shares at September 30, 2024,
June 30, 2024, December 31, 2023, and September 30, 2023, respectively
436,538 436,538 436,538 436,538
Retained earnings 868,075 841,790 789,842 769,603
Cost of common stock in treasury (3,691,291, 3,698,651, 3,771,070, and 3,776,591



shares at September 30, 2024, June 30, 2024, December 31, 2023,
and September 30, 2023, respectively)
(129,134) (129,248) (130,489) (130,579)
Accumulated other comprehensive loss (71,226)
(105,565)
(106,323)
(151,312)
Total shareholders' equity 1,104,253 1,043,515 989,568 924,250
Noncontrolling interests 70,952 71,340 78,695 58,747
Total equity 1,175,205 1,114,855 1,068,263 982,997
Total liabilities and equity $ 8,763,946 $ 8,878,003 $ 8,727,958 $ 8,525,058
第一來源公司
財務狀況陳述合併報表
(未經審計 - 以千美元計)
2020年9月30日 6月30日, 12月31日 2020年9月30日
2024 2024 2023 2023
資產
現金和存放在銀行的款項 $ 99,900 $ 89,592 $ 77,474 $ 75,729
聯邦資金出售和與其他銀行的利息承載存款 69,461 179,651 52,194 35,406
以公允價值計量的可供出售金融資產 1,563,461 1,523,548 1,622,600 1,605,242
其他投資 23,855 24,585 25,075 25,075
可出售的抵押貸款 3,690 2,763 1,442 3118
貸款和租賃,扣除未賺取貼現:
商業和農業 723,176 721,235 766,223 763,051
可再生能源 479,947 459,441 399,708 364,949
輕型汽車和輕卡 949,473 1,009,967 966,912 901,484
中型和重型卡車 299,208 315,157 311,947 323,202
飛機 1,065,801 1,058,591 1,078,172 1,079,581
施工設備 1,141,367 1,132,556 1,084,752 1,062,097
商業房地產 1,156,823 1,164,598 1,129,861 1,088,199
住宅房地產和住房淨資產 664,581 654,357 637,973 627,515
消費 135,724 137,097 142,957 143,570
貸款和租賃總額 6,616,100 6,652,999 6,518,505 6,353,648
貸款和租賃損失撥備 (152,324)
(150,067)
(147,552)
(144,074)
淨貸款和租賃 6,463,776 6,502,932 6,370,953 6,209,574
經營租賃下擁有的設備,淨額 13,011 20,366 24,096
資產和設備淨值 48,185 48,201 46,159 43,951
商譽和無形資產 83,902 83,907 83,916 83,921
應計利息和其他資產 394,705 405,938 427,779 418,946
總資產 $ 8,763,946 $ 8,875,003 $ 8,727,958 $ 8,525,058
負債
存款:
非利息-bearing 需求 $ 1,635,981 $ 1,578,762 $ 1,655,728 $ 1,680,725
計息存款:
活期存款 2,404,805 2,543,724 2,430,833 2,416,864
儲蓄 1,242,551 1,255,154 1,213,334 1,180,837
時間 1,842,607 1,818,284 1,738,686 1,689,066
利息負債總額 5,489,963 5,617,162 5,382,853 5,286,767
存款總額 7,125,944 7,195,924 7,038,581 6,967,492
短期借款:
所有基金類型購買的聯邦基金和出售證券的協議 63,553 70,767 55,809 Accumulated deficit
其他短期借款 102,124 217,450 256,550 223,757
短期借款總額 165,677 288,217 312,359 272,092
長期債務和強制贖回證券 39,220 39,136 47,911 46,533
次級債券 58,764 58,764 58,764 58,764
應計費用及其他負債 199,136 181,107 202,080 197,180
負債合計 7,588,741 7,763,148 7,659,695 7,542,061
股東權益
無面值的優先股




授權10,000,000股;無已發行或流通股
普通股;無面值




授權發行4,000萬股;2024年9月30日已發行2,820,567,400股
分別是2024年6月30日、2023年12月31日和2023年9月30日
436,538 436,538 436,538 436,538
保留盈餘 868,075 841,790 789,842 769,603
普通股在9月30日、2024年6月30日、2023年12月31日和2023年9月30日的庫存成本分別爲3,691,291、3,698,651、3,771,070和3,776,591



2024年9月30日、2024年6月30日、2023年12月31日和2023年9月30日的股數分別爲
(129,134) (129,248) (130,489) (130,579)
累計其他綜合損失 (71,226)
(105,565)
(106,323)
(151,312)
股東權益合計 1,104,253 1,043,515 989,568 924,250
非控制權益 70,952 71,340股 共出售78,695股於2020年9月30日、2020年6月30日、2020年3月31日和2019年12月31日。 58,747
股東權益總計 1,175,205 1,114,855 1,068,263 982,997
負債和所有者權益總額 $ 8,763,946 $ 8,878,003 $ 8,727,958 $ 8,525,058
1st SOURCE CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited - Dollars in thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30, June 30, September 30, September 30, September 30,
2024 2024 2023 2024 2023
Interest income:
Loans and leases $ 115,200
$ 113,101 $ 100,206 $ 337,503 $ 280,195
Investment securities, taxable 6,120 5,900 5,918 18,099 18,512
Investment securities, tax-exempt 251 254 319 765 1,131
Other 1,659 1,914 883 4,500 2,498
Total interest income 123,230 121,169 107,326 360,867 302,336
Interest expense:
Deposits 43,782 43,095 34,405 126,621 84,538
Short-term borrowings 1,509 2,158 2,136 6,769 5,154
Subordinated notes 1,054 1,061 1,060 3,176 3,108
Long-term debt and mandatorily redeemable securities 1,399 805 489 2,850 2,219
Total interest expense 47,744 47,119 38,090 139,416 95,019
Net interest income 75,486 74,050 69,236 221,451 207,317
Provision for credit losses 3,108 56 859 9,759 3,955
Net interest income after provision for credit losses 72,378 73,994 68,377 211,692 203,362
Noninterest income:
Trust and wealth advisory 6,524 7,081 5,648 19,892 17,794
Service charges on deposit accounts 3,279 3,203 3,297 9,552 9,418
Debit card 4,598 4,562 4,377 13,361 13,585
Mortgage banking 1,042 1,280 971 3,272 2,699
Insurance commissions 1,641 1,611 1,714 5,028 5,384
Equipment rental 1,141 1,257 2,101 4,069 6,930
Losses on investment securities available-for-sale (44)
Other 4,223 4,227 6,347 12,651 14,781
Total noninterest income 22,448 23,221 24,455 67,825 70,547
Noninterest expense:
Salaries and employee benefits 31,274 29,238 28,866 90,084 85,699
Net occupancy 3,011 2,908 2,867 8,915 8,165
Furniture and equipment 1,496 1,265 1,217 3,910 3,938
Data processing 7,002 6,712 6,289 20,214 18,714
Depreciation - leased equipment 907 999 1,672 3,194 5,570
Professional fees 1,928 1,713 1,763 4,986 4,149
FDIC and other insurance 1,423 1,627 1,598 4,707 4,302
Business development and marketing 1,671 2,026 1,201 5,441 4,822
Other 731 3,003 4,693 7,069 13,393
Total noninterest expense 49,443 49,491 50,166 148,520 148,752
Income before income taxes 45,383 47,724 42,666 130,997 125,157
Income tax expense 10,469 10,919 9,727 29,816 28,640
Net income 34,914 36,805 32,939 101,181 96,517
Net loss (income) attributable to noncontrolling interests 23 (12)
4 (19)
Net income available to common shareholders $ 34,937
$ 36,793 $ 32,939 $ 101,185 $ 96,498
Per common share:
Basic net income per common share $ 1.41
$ 1.49 $ 1.32 $ 4.09 $ 3.87
Diluted net income per common share $ 1.41
$ 1.49 $ 1.32 $ 4.09 $ 3.87
Basic weighted average common shares outstanding 24,514,144 24,495,495 24,660,508 24,489,665 24,677,914
Diluted weighted average common shares outstanding 24,514,144 24,495,495 24,660,508 24,489,665 24,677,914
第一品源公司
綜合利潤表
(未經審查 - 單位爲千美元,每股金額除外)
三個月之內結束 九個月結束
2020年9月30日 6月30日, 2020年9月30日 2020年9月30日 2020年9月30日
2024 2024 2023 2024 2023
利息收入:
貸款和租賃 $ 115,200
$ 113,101 $ 100,206 $ 337,503 $ 280,195
投資證券,應稅 6,120 5,900 5,918 18,099 18,512
投資證券,免稅 251 254 319 765 1,131
其他 1,659 1,914 883 4,500 2498
總利息收入 123,230 121,169 107,326 360,867 302,336
利息支出:
存款 43,782 43,095 34405 126,621 84,538
短期借款 1,509 2,158 2,136 6,769 5,154
次級債券 1,054 1,061 1,060 3,176 3,108
長期債務和必須贖回的證券 1,399 805 489 2,850 2,219
總利息支出 47,744 47,119 38,090 139,416 95,019
淨利息收入 75,486 74,050 69,236 221,451 207,317
撥備 3,108 56 859 9,759 3955
經計提信貸損失後的淨利息收入 72,378 73,994 68,377 211,692 203,362
非利息收入:
信託和財富諮詢 6,524 7,081 5,648 19,892 17,794
存入資金帳戶的服務費 3,279。 3,203 3,297 9,552 9,418
借記卡 4,598 4,562 4,377 13,361 13,585
抵押銀行業務 1,042股 1,280 971 3,272 2,699
保險佣金 1,641 1,611 1,714 5,028 5,384
設備租賃 1,141 1,257 2,101 4,069 6,930
投資證券可供出售的損失 (44)
其他 4,223 4,227 6,347 12,651 14,781
非利息收入總額 22,448 23,221 24,455 67,825 70,547
非利息支出:
薪水和員工福利 31274 29,238 28,866 90,084 85,699
淨佔用成本 3,011 2,908 2,867 8,915 $8,165。
傢俱和設備 1,496 1265 1,217 3,910 3,938
數據處理 7,002 6,712 6,289 20,214 18,714
折舊-租賃設備 907 999 1,672 3,194 5570
專業費用 1,928 1,713 1,763 4,986 4,149
FDIC和其他保險 1,423 1,627 1,598 4,707 4,302
業務拓展與市場營銷 1,671 2,026 1,201 5,441 4,822
其他 731 3,003 4,693 7,069 13,393
總非利息支出 49,443 49,491 50,166 148,520 148,752
稅前收入 $ 47,724 42,666 130,997 170,045,651
所得稅費用 10,469 10919 9,727 29,816 28,640
淨收入 34,914 36,805 32,939 101,181 96,517
非控制權益所應歸屬的淨損益 23 -12
4 (19)
淨利潤可供普通股股東 $ 34,937
$ 31,797,089 $ 32,939 $ 101,185 $ 96,498
每股普通股:
每股基本淨利潤 $ 1.41
$ 1.49 $ 1.32 $ ,有效利率爲4.09% $ 3.87
每股稀釋淨利潤 $ 1.41
$ 1.49 $ 1.32 $ ,有效利率爲4.09% $ 3.87
基本加權平均每股普通股股數 24,514,144 24,495,495 24,660,508 24,489,665 24,677,914
稀釋後加權平均每股普通股股數 24,514,144 24,495,495 24,660,508 24,489,665 24,677,914
1st SOURCE CORPORATION
DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS' EQUITY
INTEREST RATES AND INTEREST DIFFERENTIAL
(Unaudited - Dollars in thousands)
Three Months Ended
September 30, 2024 June 30, 2024 September 30, 2023
Average
Balance
Interest Income/
Expense
Yield/
Rate
Average
Balance
Interest Income/
Expense
Yield/
Rate
Average
Balance
Interest Income/
Expense
Yield/
Rate
ASSETS
Investment securities available-for-sale:
Taxable $ 1,510,162 $ 6,120 1.61 % $ 1,524,751 $ 5,900 1.56 %
$ 1,605,912 $ 5,918 1.46 %
Tax exempt(1) 29,057 316 4.33 % 29,611 319 4.33 % 39,994 397 3.94 %
Mortgages held for sale 3,758 63 6.67 % 4,179 65 6.26 % 3,169 54 6.76 %
Loans and leases, net of unearned discount(1) 6,605,677 115,216 6.94 % 6,606,209 113,115 6.89 % 6,245,883 100,244 6.37 %
Other investments 124,647 1,659 5.29 % 138,768 1,914 5.55 % 68,579 883 5.11 %
Total earning assets(1) 8,273,301 123,374 5.93 % 8,303,518 121,313 5.88 % 7,963,537 107,496 5.36 %
Cash and due from banks 64,014 60,908 68,640
Allowance for loan and lease losses (151,693) (149,688)
(145,197)
Other assets 534,202 546,268 530,411
Total assets $ 8,719,824 $ 8,761,006 $ 8,417,391
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing deposits $ 5,534,358 $ 43,782 3.15 % $ 5,603,880 $ 43,095 3.09 % $ 5,247,332 $ 34,405 2.60 %
Short-term borrowings:
Securities sold under agreements to repurchase 64,032 173 1.07 % 61,729 146 0.95 % 60,736 35 0.23 %
Other short-term borrowings 110,710 1,336 4.80 % 159,953 2,012 5.06 % 153,523 2,101 5.43 %
Subordinated notes 58,764 1,054 7.14 % 58,764 1,061 7.26 % 58,764 1,060 7.16 %
Long-term debt and mandatorily redeemable
securities
39,119 1,399 14.23 % 38,590 805 8.39 % 46,519 489 4.17 %
Total interest-bearing liabilities 5,806,983 47,744 3.27 % 5,922,916 47,119 3.20 % 5,566,874 38,090 2.71 %
Noninterest-bearing deposits 1,600,068 1,579,798 1,702,773
Other liabilities 161,978 159,552 148,192
Shareholders' equity 1,079,543 1,027,138 940,544
Noncontrolling interests 71,252 71,602 59,008
Total liabilities and equity $ 8,719,824 $ 8,761,006 $ 8,417,391
Less: Fully tax-equivalent adjustments (144) (144)
(170)
Net interest income/margin (GAAP-derived)(1) $ 75,486 3.63 % $ 74,050 3.59 % $ 69,236 3.45 %
Fully tax-equivalent adjustments 144 144 170
Net interest income/margin - FTE(1) $ 75,630 3.64 % $ 74,194 3.59 % $ 69,406 3.46 %
(1) See "Reconciliation of Non-GAAP Financial Measures" for more information on this performance measure/ratio.
第一資本公司
資產、負債和股東權益的分配
利率期貨和利差
(未經審計 - 千美元)
三個月之內結束
2024年9月30日 2024年6月30日 2023年9月30日
平均數
餘額
利息收入/
費用
收益率/
利率
平均數
餘額
利息收入/
費用
收益率/
費率
平均數
餘額
利息收入/
費用
收益率/
利率
資產
可供出售投資證券:
應稅的 $ 1,510,162 $ 6,120 1.61 % $ 1,524,751 $ 5,900 1.56 %
$ 1,605,912 $ 5,918 1.46%
免稅(1) 29,057 316 4.33 % 29,611 319 4.33 % 39,994 397 3.94 %
可出售的抵押貸款 3,758 63 6.67 % 4,179 65 6.26 % 3,169 54 6.76 %
貸款和融資餘額,扣除未賺取的折扣(1) 6,605,677 115,216 6.94 % 6,606,209 113,115 6.89 % 6,245,883 100,244 6.37 %
其他投資 124,647 1,659 5.29 % 138,768 1,914 5.55 % 68,579 883 5.11 %
所有資產(1) 8,273,301 123,374 5.93 % 8,303,518 121,313 5.88 % 7,963,537 107,496 5.36 %
現金和存放在銀行的款項 64,014 60,908 68,640
貸款和租賃損失撥備 (151,693) (149,688)
(145,197)
其他 534,202 546,268 530,411
總資產 $ 8,719,824 $ 8,761,006 $ 8,417,391
負債和股東權益
計息存款-存款利息 $ 5,534,358 $ 43,782 3.15 % $ 5,603,880 $ 43,095 3.09 % $ 5,247,332 $ 34405 2.60 %
短期借款:
協議回購出售的證券 64,032 173 1.07 % 61,729 146 0.95 % 60,736 35 0.23 %
其他短期借款 110,710 1,336 4.80 % 159,953 2,012 5.06 % 153,523 2,101 5.43%
次級債券 58,764 1,054 7.14 % 58,764 1,061 7.26 % 58,764 1,060 7.16 %
長期債務和必須贖回
證券
39,119 1,399 14.23 % 38,590 805 8.39 % 46,519 489 4.17 %
總計計息負債 5,806,983 47,744 3.27 % 5,922,916 47,119 3.20 % 5,566,874 38,090 2.71 %
非計息存款 1,600,068 1,579,798 1,702,773
其他負債 161,978 159,552 148,192
股東權益 1,079,543 1,027,138 940,544
少數股東權益 71,252 71,602 59,008
負債和所有者權益總額 $ 8,719,824 $ 8,761,006 $ 8,417,391
減少:全額稅收等效調整 (144) (144)
(170)
淨利息收益/淨利息收益率(依據GAAP推導)(1) $ 75,486 3.63 % $ 74,050 3.59 % $ 69,236 3.45 %
完全稅值調整 144 144 170
淨利息收益率 - FTE(1) $ 75,630 3.64 % $ 74,194 3.59 % $ 3.46 %
(1) 請查看"非通用會計準則財務衡量標準和比率",了解更多關於這項績效指標/比率的信息。
1st SOURCE CORPORATION
DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS' EQUITY
INTEREST RATES AND INTEREST DIFFERENTIAL
(Unaudited - Dollars in thousands)
Nine Months Ended
September 30, 2024 September 30, 2023
Average
Balance
Interest
Income
/Expense
Yield/
Rate
Average
Balance
Interest Income/
Expense
Yield/
Rate
ASSETS
Investment securities available-for-sale:
Taxable $ 1,537,066 $ 18,099 1.57 % $ 1,657,241 $ 18,512 1.49 %
Tax exempt(1) 30,057 962 4.28 % 46,385 1,413 4.07 %
Mortgages held for sale 3,257 162 6.64 % 2,489 114 6.12 %
Loans and leases, net of unearned discount(1) 6,572,108 337,580 6.86 % 6,141,849 280,374 6.10 %
Other investments 110,580 4,500 5.44 % 69,799 2,498 4.78 %
Total earning assets(1) 8,253,068 361,303 5.85 % 7,917,763 302,911 5.11 %
Cash and due from banks 62,277 70,288
Allowance for loan and lease losses (150,127) (143,545)
Other assets 545,805 523,548
Total assets $ 8,711,023 $ 8,368,054
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing deposits 5,511,116 126,621 3.07 % 5,143,493 84,538 2.20 %
Short-term borrowings:
Securities sold under agreements to repurchase 57,934 366 0.84 % 87,909 107 0.16 %
Other short-term borrowings 168,234 6,403 5.08 % 133,965 5,047 5.04 %
Subordinated notes 58,764 3,176 7.22 % 58,764 3,108 7.07 %
Long-term debt and mandatorily redeemable securities 41,633 2,850 9.14 % 46,174 2,219 6.43 %
Total interest-bearing liabilities 5,837,681 139,416 3.19 % 5,470,305 95,019 2.32 %
Noninterest-bearing deposits 1,598,711 1,776,202
Other liabilities 163,091 143,086
Shareholders' equity 1,037,809 919,182
Noncontrolling interests 73,731 59,279
Total liabilities and equity $ 8,711,023 $ 8,368,054
Less: Fully tax-equivalent adjustments (436) (575)
Net interest income/margin (GAAP-derived)(1)
$ 221,451 3.58 % $ 207,317 3.50 %
Fully tax-equivalent adjustments 436 575
Net interest income/margin - FTE(1)
$ 221,887 3.59 % $ 207,892 3.51 %
(1) See "Reconciliation of Non-GAAP Financial Measures" for more information on this performance measure/ratio.
第一資源公司
資產、負債和股東權益的分配
利率期貨和利差
(未經審計-以千美元計)
九個月結束
2024年9月30日 2023年9月30日
平均數
餘額
利息
收益
支出
收益率/
利率
平均數
餘額
利息收入/
費用
收益率/
利率
資產
可供出售投資證券:
應稅的 $ 1,537,066 $ 18,099 1.57 % $ 1,657,241 $ 18,512 1.49 %
免稅(1) 30,057 962 4.28 % 46,385 1,413 4.07 %
可出售的抵押貸款 3,257 162 6.64 % 2,489 114 6.12 %
貸款和租賃淨值,扣除未賺取的折扣費用(1) 6,572,108 337,580 6.86 % 6,141,849 280,374 6.10 %
其他投資 110,580 4,500 5.44 % 69,799 2498 4.78 %
總收益資產(1) 8,253,068 361,303 5.85 % 7,917,763 302,911 5.11 %
現金和存放在銀行的款項 62,277 70,288
貸款和租賃損失撥備 (150,127) (143,545)
其他 545,805 523,548
總資產 $ 8,711,023 $ 8,368,054
負債和股東權益
計息存款-存款利息 5,511,116 126,621 3.07 % 5,143,493 84,538 2.20 %
短期借款:
協議回購出售的證券 57,934 366 0.84 % 87,909 107 0.16 %
其他短期借款 168,234 6,403 5.08 % 133,965 5,047 5.04 %
次級債券 58,764 3,176 7.22 % 58,764 3,108 7.07 %
長期債務和必須贖回的證券 41,633 2,850 9.14 % 46,174 2,219 6.43 %
總計計息負債 5,837,681 139,416 3.19 % 5,470,305 95,019 2.32 %
非計息存款 1,598,711 1,776,202
其他負債 163,091 143,086
股東權益 1,037,809 919,182
非控制權益 73,731 59,279
負債和所有者權益總額 $ 8,711,023 $ 8,368,054
Less: Fully tax-equivalent adjustments (436) (575)
淨利息收益/淨息差(依據GAAP推導)(1)
$ 221,451 3.58 % $ 207,317 3.50 %
全面稅等效調整 436 575
淨利息收入/淨利息收益-全職員工(1)
$ 221,887 3.59 % $ 207,892 3.51 %
(1) 請查看"調和非GAAP財務指標",了解有關該績效指標/比率的更多信息。
1st SOURCE CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Unaudited - Dollars in thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, June 30, September 30, September 30, September 30,
2024 2024 2023 2024 2023
Calculation of Net Interest Margin
(A) Interest income (GAAP) $ 123,230 $ 121,169 $ 107,326 $ 360,867 $ 302,336
Fully tax-equivalent adjustments:
(B) - Loans and leases 79 79 92 239 293
(C) - Tax exempt investment securities 65 65 78 197 282
(D) Interest income - FTE (A+B+C) 123,374 121,313 107,496 361,303 302,911
(E) Interest expense (GAAP) 47,744 47,119 38,090 139,416 95,019
(F) Net interest income (GAAP) (A-E) 75,486 74,050 69,236 221,451 207,317
(G) Net interest income - FTE (D-E) 75,630 74,194 69,406 221,887 207,892
(H) Annualization factor 3.978 4.022 3.967 1.336 1.337
(I) Total earning assets $ 8,273,301 $ 8,303,518 $ 7,963,537 $ 8,253,068 $ 7,917,763
Net interest margin (GAAP-derived) (F*H)/I 3.63 % 3.59 % 3.45 % 3.58 % 3.50 %
Net interest margin - FTE (G*H)/I 3.64 % 3.59 % 3.46 % 3.59 % 3.51 %
Calculation of Efficiency Ratio
(F) Net interest income (GAAP) $ 75,486 $ 74,050 $ 69,236 $ 221,451 $ 207,317
(G) Net interest income - FTE 75,630 74,194 69,406 221,887 207,892
(J) Plus: noninterest income (GAAP) 22,448 23,221 24,455 67,825 70,547
(K) Less: gains/losses on investment securities and partnership
investments
(712) (929) (2,779) (2,678) (5,049)
(L) Less: depreciation - leased equipment (907) (999) (1,672) (3,194) (5,570)
(M) Total net revenue (GAAP) (F+J) 97,934 97,271 93,691 289,276 277,864
(N) Total net revenue - adjusted (G+J-K-L) 96,459 95,487 89,410 283,840 267,820
(O) Noninterest expense (GAAP) 49,443 49,491 50,166 148,520 148,752
(L) Less: depreciation - leased equipment (907) (999) (1,672) (3,194) (5,570)
(P) Noninterest expense - adjusted (O-L) 48,536 48,492 48,494 145,326 143,182
Efficiency ratio (GAAP-derived) (O/M) 50.49 % 50.88 % 53.54 % 51.34 % 53.53 %
Efficiency ratio - adjusted (P/N) 50.32 % 50.78 % 54.24 % 51.20 % 53.46 %
End of Period
September 30, June 30, September 30,
2024 2024 2023
Calculation of Tangible Common Equity-to-Tangible Assets Ratio
(Q) Total common shareholders' equity (GAAP) $ 1,104,253 $ 1,043,515 $ 924,250
(R) Less: goodwill and intangible assets (83,902) (83,907) (83,921)
(S) Total tangible common shareholders' equity (Q-R) $ 1,020,351 $ 959,608 $ 840,329
(T) Total assets (GAAP) 8,763,946 8,878,003 8,525,058
(R) Less: goodwill and intangible assets (83,902) (83,907) (83,921)
(U) Total tangible assets (T-R) $ 8,680,044 $ 8,794,096 $ 8,441,137
Common equity-to-assets ratio (GAAP-derived) (Q/T) 12.60 % 11.75 % 10.84 %
Tangible common equity-to-tangible assets ratio (S/U) 11.76 % 10.91 % 9.96 %
Calculation of Tangible Book Value per Common Share
(Q) Total common shareholders' equity (GAAP) $ 1,104,253 $ 1,043,515 $ 924,250
(V) Actual common shares outstanding 24,514,383 24,507,023 24,429,083
Book value per common share (GAAP-derived) (Q/V)*1000 $ 45.05 $ 42.58 $ 37.83
Tangible common book value per share (S/V)*1000 $ 41.62 $ 39.16 $ 34.40
第一資本公司
非GAAP財務指標調和
(未經審計 - 單位千美元,除每股數據外)
三個月之內結束 九個月結束
2020年9月30日 6月30日, 2020年9月30日 2020年9月30日 2020年9月30日
2024 2024 2023 2024 2023
淨利息收益率的計算
(A) 利息收入(美國公認會計准則) $ 123,230 $ 121,169 $ 107,326 $ 360,867 $ 302,336
全面稅等值調整:
(B) - Loans and leases 79 79 92 239 293
(C) 免稅投資證券 65 65 78 197 282
(D) 利息收入 - 稅前全職員工等效(A+B+C) 123,374 121,313 107,496 361,303 302,911
(E) 利息支出(美國公認會計准則) 47,744 47,119 38,090 139,416 95,019
(F) 淨利息收入(GAAP)(A-E) 75,486 74,050 69,236 221,451 207,317
(G) 淨利息收益率 - FTE(D-E) 75,630 74,194 221,887 207,892
(H) 年度因子 3.978 4.022 3.967 1.336 1.337
(I) 總資產收益率 $ 8,273,301 $ 8,303,518 $ 7,963,537 $ 8,253,068 $ 7,917,763
淨利息收益率(根據GAAP推導)(F*H)/I 3.63 % 3.59 % 3.45 % 3.58 % 3.50 %
Net interest margin - FTE (G*H)/I 3.64 % 3.59 % 3.46 % 3.59 % 3.51 %
效率比率的計算
(F) 淨利息收入(GAAP) $ 75,486 $ 74,050 $ 69,236 $ 221,451 $ 207,317
(G) 淨利息收益-全等效稅率 75,630 74,194 221,887 207,892
(J) 加:非利息收入(GAAP) 22,448 23,221 24,455 67,825 70,547
(K) 減少:投資證券和合作夥伴的收益/損失
投資
(712) (929) (2,779) (2,678) (5,049)
(L) 減少:折舊 - 租賃設備 (907) (999) (1,672) (3,194) (5,570)
(M) 總淨營業收入(按照通用會計準則)(F+J) 97,934 97,271 37 289,276 277,864
(N) 淨營業收入總額 - 調整後(G+J-k-L) 96,459 95,487 89,410 283,840 267,820
(O) 非利息開支(GAAP) 775 49,491 50,166 148,520 148,752
(L) 減少:折舊-租賃設備 (907) (999) (1,672) (3,194) (5,570)
(P) Noninterest expense - adjusted (O-L) 48,536 48,492 48,494 145,326 143,182
效率比率(根據GAAP推導的)(O/M) 50.49 % 50.88 % 53.54 % 51.34 % 53.53 %
調整後的效率比率(P/N) 50.32 % 50.78 % 54.24 % 51.20 % 53.46 %
期末
2020年9月30日 6月30日, 2020年9月30日
2024 2024 2023
Tangible Common Equity-to-Tangible Assets比率的計算
(Q) 總普通股東權益(GAAP) $ 1,104,253 $ 1,043,515 $ 924,250
(R) 減:商譽和無形資產 (83,902) (83,907) (83,921)
Tonix製藥聲稱,其擁有包含依替硝西泮單一異構體的專有權利,這是一種活性成分,沒有對μ-阿片受體的作用。 總有形普通股股東權益(Q-R) $ 1,020,351 $ 959,608 $ 840,329
(T) 總資產(GAAP) 8,763,946 8,878,003 8,525,058
(R) 減:商譽和無形資產 (83,902) (83,907) (83,921)
(U) 總有形資產(t-R) $ 8,680,044 $ 8,794,096 $ 8,441,137
常規權益資產比率(按照GAAP推導)(季度/年度) 12.60 % 11.75 % 10.84 %
有形公共股權與有形資產比率(S/U) 11.76 % 10.91 % 9.96 %
每普通股的有形賬面價值計算
(Q) 總普通股股東權益(GAAP) $ 1,104,253 $ 1,043,515 $ 924,250
(V) 實際流通股份 24,514,383 24,507,023 24,429,083
每股普通股賬面價值(按照通用會計準則推導)(Q/V)*1000 $ 45.05 $ 42.58 $ 37.83
每股有形公共賬面價值(S/V)*1000 $ 41.62 $ 39.16 $ 34.40

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