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1ST SOURCE REPORTS EARNINGS INCREASE FOR 1992 SECOND QUARTER

 1ST SOURCE REPORTS EARNINGS INCREASE FOR 1992 SECOND QUARTER
 SOUTH BEND, Ind., July 22 /PRNewswire/ -- 1st Source Corporation (NASDAQ-NMS: SRCE) today reported net income of $3.5 million for the second quarter of 1992, an increase of 9.0 percent over the $3.2 million reported for the second quarter of 1991.
 For the first six months of 1992, net income of 1st Source Corporation, parent company of 1st Source Bank, was $6.8 million, up 11.1 percent from $6.1 million of the first six months a year ago.
 Net income per share of common stock was $0.72 for the second quarter of 1992, an increase of 10.8 percent over the $0.65 of the second quarter of 1991, and represented a 13.90-percent return on average common shareholders' equity. Net income per share of common stock for the first six months of 1992 was $1.40, up 12.0 percent from the $1.25 of the comparable period of 1991. The net income per share figures for 1991 have been adjusted for a 5-for-4 stock split declared Jan. 28, 1992.
 Ernestine M. Raclin, chairman of the board, and Christopher J. Murphy III, president, said, "1st Source's earnings for the second quarter of 1992 reflect the continued economic vitality of our primary geographic service area, improvement in the national economy and strong performances by our core banking and niche market businesses. Furthermore, during the period, losses were taken from the write down of our Olympia and York bonds which were partially offset by a gain from the sale of Student Loan Marketing Association common stock."
 Raclin said the board of directors has approved a cash dividend for the second quarter of $0.12 per share payable Aug. 14, 1992 to shareholders of record Aug. 4, 1992.
 As of June 30, 1992, common shareholders' equity was $102.0 million, an increase of 11.3 percent from a year earlier, and the equity-to- assets ratio, an indicator of balance sheet strength, was 7.31 percent. Return on average total assets for the second quarter of 1992 was 1.07 percent compared to 1.05 for the second quarter of 1991.
 As of June 30, 1992, total assets were $1.39 billion, up 14.1 percent from a year earlier. Deposits were up 15.1 percent and total loans were up 20.4 percent from a year earlier. The increases in assets, deposits and loans take into account the June 18, 1992, acquisition by 1st Source Bank of Farmers State Bank of Wyatt.
 The 1st Source reserve for loan losses as of June 30, 1992, was 1.92 percent of total loans compared to 1.99 percent as of Dec. 31, 1991. The ratio of nonperforming assets to net loans was 1.25 percent at the end of 1992's first half, compared to 1.00 percent at the end of 1991.
 1st Source Corporation has five subsidiaries: 1st Source Bank; 1st Source Bank of Starke County; 1st Source Capital Corporation; 1st Source Leasing and 1st Source Insurance. In addition to its NASDAQ listing, 1st Source stock appears in the national market system tables in many daily newspapers under the code name "FstSource."
 Marketmakers in 1st Source shares are William Blair & Company. The Chicago Corporation, City Securities Corporation, Edward D. Jones & Company, Herzog, Heine, Geduld, Inc., Raffensperger, Hughes & Co., Inc. and Roney and Company.
 1ST SOURCE CORPORATION
 (Dollars in thousands except per-share data; unaudited)
 Three Months Ended Six Months Ended
 June 30 June 30
 1992 1991 1992 1991
 End of period balances:
 Assets --- --- $1,394,494 $1,222,157
 Deposits --- --- 1,130,259 982,227
 Total loans
 (net of unearned) --- --- 938,338 779,049
 Common shareholders'
 equity --- --- 101,952 91,625
 Book value per share(a) --- --- 21.22 18.95
 Shares outstanding(a) --- --- 4,803,838 4,835,013
 Income data:
 Net interest income $14,080 $12,724 $27,301 $25,077
 Net income 3,465 3,178 6,770 6,091
 Net income per share(a) .72 .65 1.40 1.25
 Per share data:(a)
 Cash dividends .120 .104 .232 .203
 Market value - high 32.25 21.50 32.25 21.50
 Market value - low 27.50 16.25 23.75 11.75
 Average balances:
 Assets 1,300,667 1,210,067 1,284,999 1,201,246
 Deposits 1,073,568 1,010,217 1,058,930 1,002,678
 Total loans
 (net of unearned) 875,784 784,260 854,445 781,947
 Common shareholders'
 equity 100,259 90,226 98,776 89,103
 Average earning
 assets 1,217,860 1,131,993 1,204,251 1,124,771
 Key ratios (based on
 avg.) (percent):
 Return on assets 1.07 1.05 1.06 1.02
 Return on common equity 13.90 14.13 13.78 13.79
 Common equity to assets 7.71 7.46 7.69 7.42
 Net interest margin 4.92 4.79 4.82 4.78
 Net charge offs to
 average net loans .22 .29 .22 .33
 Nonperforming assets to
 net loans (end of
 period) 1.25 .80 1.25 .80
 (a) Per-share figures have been adjusted for a 5-for-4 stock split declared Jan. 28, 1992.
 -0- 7/22/92
 /CONTACT: Larry Lentych of 1st Source Corporation, 219-235-2702/
 (SRCE) CO: 1st Source Corporation ST: Indiana IN: FIN SU: ERN


DH-ML -- DE003 -- 1735 07/22/92 09:37 EDT
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