NASDAQ$SRCE
1st Source Corporation · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Reported earnings with net income increasing by 20.61% compared to Q4 2019 and diluted net income per common share increasing by 19.77% from the prior year’s fourth quarter.
1st Source Corporation reported a net income of $26.46 million for the fourth quarter of 2020, up 20.61% compared to $21.94 million earned in the fourth quarter of 2019. Diluted net income per common share for the fourth quarter was $1.03, up 19.77% from the $0.86 earned in the fourth quarter of the previous year.
- Net income was $26.46 million for the fourth quarter of 2020, up 20.61% over the fourth quarter of 2019.
- Diluted net income per common share was $1.03 for the fourth quarter of 2020, up 19.77% from the prior year’s fourth quarter.
- Return on average assets improved to 1.42% and return on average common shareholders’ equity improved to 11.90% for the fourth quarter of 2020.
- Net interest income increased $6.81 million, up 12.32% from the fourth quarter of 2019.
Headline financials
Revenue & EPS history
1st Source · Revenue · Quarterly
$88.2M
Revenue by segment
1st Source · $23.5M total across 7 segments · Q4 2022
- Trust & Wealth Advisory$5.61M—23.9%
- Other Income$5.11M—21.8%
- Debit Card Fees$4.67M—19.9%
- Deposit Charges$3.17M—13.5%
- Equipment Rental$2.56M—10.9%
- Insurance Commissions$1.54M—6.5%
- Mortgage Banking$819K—3.5%
Forward guidance
The company is actively helping clients work through the application process for the second round of PPP loans, with special attention paid to women-owned and minority-owned small businesses.
Tailwinds
- Actively helping clients work through the application process for the second round of PPP loans.
- Special attention paid to women-owned and minority-owned small businesses.
- All safety measures put in place in the spring of 2020 have proven successful in stopping the spread among staff and clients.
- Plan to keep such measures in place until confident the well-being of all those employed and served can be protected by other means.
- Continue to review and analyze data from local health departments to make the best decisions possible for the health and safety of team members, clients and communities.
Headwinds
- The annual net income comparison was adversely impacted by an increased provision for credit losses primarily due to the negative impact on clients from COVID-19.
- Sizeable impairments in a few accounts.
- Higher special attention loan balances.
- Our transportation clients and hotel industry clients remain severely impacted by the COVID-19 pandemic.
- Demand for leases declined and lower service charges on deposit accounts due to fewer overdraft and non-sufficient fund transactions in 2020 compared to 2019.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2020
+1.1%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+2.7%
Avg return
30 days after
60%
39 / 65 earnings
Positive
+10.6%
Q2 2011
Best reaction
-9.5%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.0% | +1.6% | +1.0% | |
| Q4 2025 | -1.8% | -3.5% | +4.5% | |
| Q3 2025 | +3.5% | +0.4% | +5.5% | |
| Q2 2025 | -0.9% | -0.8% | +1.9% | |
| Q1 2025 | -0.9% | -0.0% | -2.1% | |
| Q3 2024 | -3.7% | +1.5% | +11.1% | |
| Q2 2024 | +7.3% | +5.8% | +0.3% | |
| Q1 2024 | -3.2% | -2.7% | -0.8% | |
| Q4 2023 | +4.5% | +4.6% | -0.1% | |
| Q3 2023 | +2.4% | +2.7% | +15.7% | |
| Q2 2023 | +0.4% | +2.0% | -0.7% | |
| Q1 2023 | -0.1% | -2.2% | -4.8% | |
| Q4 2022 | -9.5% | -6.0% | -2.6% | |
| Q3 2022 | +9.1% | +14.5% | +11.8% | |
| Q2 2022 | +2.3% | +7.2% | +13.2% | |
| Q1 2022 | -1.2% | -2.9% | -5.8% | |
| Q4 2021 | -5.3% | -0.8% | -3.8% | |
| Q3 2021 | +1.8% | +0.6% | +1.1% | |
| Q2 2021 | -1.7% | +2.5% | +7.6% | |
| Q1 2021 | +1.9% | +2.0% | +5.3% | |
| Q4 2020 | +0.4% | -1.8% | +2.5% | |
| Q3 2020 | +5.0% | +0.8% | +12.2% | |
| Q2 2020 | +0.9% | -0.2% | -1.2% | |
| Q1 2020 | +2.3% | +10.4% | +1.3% | |
| Q4 2019 | -1.3% | -2.9% | -6.0% | |
| Q3 2019 | +6.6% | +9.4% | +10.9% | |
| Q2 2019 | +1.9% | +2.2% | +3.0% | |
| Q1 2019 | -3.4% | -1.1% | -0.4% | |
| Q4 2018 | +3.3% | +2.3% | +7.4% | |
| Q3 2018 | -6.2% | -8.6% | -4.9% | |
| Q2 2018 | +4.5% | +5.9% | +3.2% | |
| Q1 2018 | +3.9% | +5.8% | +4.7% | |
| Q4 2017 | +1.8% | +3.0% | -1.4% | |
| Q3 2017 | +0.1% | +0.2% | -4.4% | |
| Q2 2017 | +0.3% | +1.8% | -5.3% | |
| Q1 2017 | +8.9% | +11.9% | +1.9% | |
| Q4 2016 | +7.1% | +6.1% | +7.1% | |
| Q3 2016 | -3.7% | -2.3% | +12.1% | |
| Q2 2016 | +3.2% | +2.3% | +3.7% | |
| Q1 2016 | +0.4% | — | — | |
| Q4 2015 | -1.4% | — | — | |
| Q3 2015 | +2.1% | — | — | |
| Q2 2015 | -3.7% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2014 | +2.4% | — | — | |
| Q3 2014 | +1.0% | — | — | |
| Q2 2014 | -0.1% | — | — | |
| Q1 2014 | -5.1% | — | — | |
| Q4 2013 | -1.5% | — | — | |
| Q3 2013 | +4.8% | — | — | |
| Q2 2013 | -0.2% | — | — | |
| Q1 2013 | -0.2% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2012 | +1.4% | — | — | |
| Q2 2012 | +3.5% | — | — | |
| Q1 2011 | +0.9% | — | — | |
| Q1 2012 | +1.2% | — | — | |
| Q4 2011 | -0.6% | — | — | |
| Q4 2010 | -0.6% | — | — | |
| Q4 2009 | -0.6% | — | — | |
| Q3 2010 | +2.2% | — | — | |
| Q3 2011 | +2.2% | — | — | |
| Q2 2010 | +10.6% | — | — | |
| Q2 2011 | +10.6% | — | — | |
| Q1 2010 | +3.0% | — | — |
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