Sourcebank
Sourcebank is a company.
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Financial History
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Valuation
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Leadership Team
Key people at Sourcebank.
Frequently Asked Questions
Who founded Sourcebank?
Sourcebank was founded by Chris Harris (Founder).
Sourcebank is a company.
Key people at Sourcebank.
Sourcebank was founded by Chris Harris (Founder).
Sourcebank was founded by Chris Harris (Founder).
1st Source Corporation is a financial services holding company headquartered in South Bend, Indiana, operating 1st Source Bank, the largest locally controlled financial institution in northern Indiana and southwestern Michigan.[1][2][4][5] Founded in 1863, it provides comprehensive commercial and consumer banking, specialty financing for equipment, aircraft, trucks, and real estate, wealth management, trust services, and insurance to individuals, businesses, non-profits, and municipalities across 81 branches and specialized locations.[1][2][4][5] Its investment philosophy centers on personalized, holistic financial planning with diversified portfolios emphasizing long-term security, tax efficiency, and client-centered service, including tax equity investments in solar projects.[2][3][5][6]
The bank manages $9.1 billion in assets with over 1,200 employees, focusing on specialty finance groups that finance industrial properties, equipment, inventories, and renewables like community solar across 15 states.[3][5] Recognized for excellence, it ranks in S&P Global's Top 50 Community Banks, Piper Sandler's Sm-All Stars, and as Indiana's top SBA lender for banks under $10 billion in assets for 12 years.[5]
1st Source traces its roots to 1863 as the First National Bank of South Bend, merging in the 1930s with First National and Union Trust to form First Bank and Trust amid the Great Depression under leader Ernest M. Morris.[4][5] It expanded branches starting in 1935, grew to Indiana's seventh-largest bank by the late 1950s, rebranded to 1st Source Bank in 1981, and integrated subsidiaries like Trustcorp Mortgage in 2007.[4]
Key evolution includes modern expansions: remodeling Fort Wayne branches in 2014-2015 without traditional teller windows for collaborative "side-by-side" banking, leading Indiana in SBA loans in 2016, and approving a Sarasota, Florida branch that year.[4] Today, as 1st Source Corporation (CIK: 0000356264), it emphasizes its 160+ year legacy of client-focused growth in banking and specialty finance.[2][5]
While primarily a community bank, 1st Source influences tech-adjacent sectors through specialty financing for equipment and renewables, supporting industrial tech like construction machinery and solar energy infrastructure amid the clean energy boom.[3][5] Its timing aligns with post-2020 renewable incentives and supply chain demands for specialized equipment financing, enabling developers in community solar and utility projects.[3]
Market forces favoring localized, relationship-driven banking—versus national giants—bolster its role, as seen in SBA leadership for small business tech growth and diversified 13F holdings in ETFs and tech-heavy stocks like Apple (recently trimmed).[2][4][5] It shapes the ecosystem by funding regional innovation hubs in Indiana-Michigan, fostering startups in agribusiness, manufacturing tech, and green energy without direct VC-style investing.[1][5]
1st Source is poised for steady expansion in specialty finance, particularly solar tax equity amid escalating clean energy demand and infrastructure bills, potentially growing its $2B 13F portfolio with diversified, risk-managed holdings.[2][3] Trends like AI-driven portfolio tools, regional manufacturing resurgence, and sustained SBA lending will shape its path, with influence evolving toward national specialty niches while anchoring community banking.[2][4][5]
As the enduring backbone of northern Indiana's economy since 1863, it exemplifies resilient, client-first finance—helping clients "achieve security, build wealth, and realize their dreams" in an unpredictable landscape.[5]
Key people at Sourcebank.