The history of 1st Source Corporation dates back to 1863 when we were chartered as the First National Bank of South Bend. While 1st Source has literally grown up with the region, we have never strayed from the ideals of our founders. We remain strong, stable, local and personal for our clients; embedded in the communities we serve and committed to the success of all who live and do business here.
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, construction and environmental equipment. The Corporation includes 81 community banking centers in 17 counties, 22 specialty finance locations nationwide, eight trust and wealth management locations, and 10 1st Source Insurance offices.
The retail footprint of the bank is in a region noted for its focus on higher education – the University of Notre Dame, Saint Mary’s College, Indiana University-South Bend, Purdue University, Indiana University-Purdue University Fort Wayne, Valparaiso University, and Goshen College are all located here. St Joseph County, Indiana, our headquarters location, is the region’s medical hub; Warsaw, Indiana is known for its manufacturing of medical devices; Elkhart, Indiana for RVs and manufactured housing. The region also is a distribution hub, and has a strong reliance on agriculture, steel production and automobile supply manufacturing.
1st Source maintains the dominant market share among all banks and credit unions in the 17 county area. We recently ranked #1 as the provider of SBA loans in northwest Indiana and #1 in deposit market share1. We are pleased to consistently receive a 5 star rating, the highest possible, from BauerFinancial, a bank rating company; and are ranked #10 of 102 banks with $5-$50 billion in assets according to Bank Director Magazine’s 2016 Bank Performance Scorecard. Most importantly, we have consistently been voted the Favorite Bank by local newspaper readers in polls conducted over the last decade.
12013 FDIC data