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1ST SOURCE ANNOUNCES RECORD EARNINGS AND STOCK SPLIT

 1ST SOURCE ANNOUNCES RECORD EARNINGS AND STOCK SPLIT
 SOUTH BEND, Ind., Jan. 28 /PRNewswire/ -- 1st Source Corporation


(NASDAQ-NMS: SRCE) today announced record net income of $12.6 million for the year ended Dec. 31, 1991, an increase of 5.7 percent over the previous record of $11.9 million reported for 1990.
 It was the sixth consecutive year of record-setting performances by 1st Source and, according to Ernestine M. Raclin, chairman of the board, and Christopher J. Murphy III, president, it prompted the board of directors to declare a 5-for-4 stock split in addition to a quarterly cash dividend of $0.14 per share, 13.1-percent higher than the cash dividend for the fourth quarter of 1990. The cash dividend will be paid on shares outstanding prior to the stock split.
 Raclin and Murphy said the additional stock and the increased dividend, both payable Feb. 18, 1992, to shareholders of record Feb. 7, 1992, "reflect our continued optimism about the future of 1st Source in a challenging economic environment."
 Net income for 1991, adjusted for the stock split, represented a 13.81-percent return on average common shareholders' equity, and was $2.60 per share compared to $2.45 per share for 1990. For the fourth quarter of 1991, the 17th consecutive quarter in which net income exceeded that of the comparable period a year earlier, net income was $3.3 million, or $0.68 per share, compared to $3.2 million, or $0.66 per share for the fourth quarter of 1990. The earnings-per-share figures are adjusted for a 5-percent stock dividend declared Jan. 29, 1991, and the 5-for-4 stock split declared Jan. 28, 1992. Return on average total assets for 1991 reached a record high of 1.04 percent. At year-end 1991, total assets were nearly $1.3 billion and the equity-to-assets ratio, an indicator of balance sheet strength, was 7.42 percent.
 As of Dec. 31, 1991, common shareholders' equity was $96.1 million, up 10.9 percent from a year earlier. Deposits increased from $980 million at the end of 1990 to $1.06 billion at the end of 1991. For the same period, total loans increased from $789 million to $826 million.
 The reserve for loan losses increased from 1.63 percent of total loans at the end of 1990 to 1.99 percent at the end of 1991 while the ratio of non-performing assets to net loans decreased from 1.10 percent to 1.00 percent over the same 12-month period.
 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 national market system tables in many daily newspapers under the code name "1stSource."
 Marketmakers in 1st Source shares are The Chicago Corporation, City Securities Corporation, William Blair & Company, Edward D. Jones & Company, Herzog, Heine, Geduld, Inc., McDonald & Company, Raffensperger, Hughes & Co., Inc. and Roney & Company.
 1ST SOURCE CORPORATION
 (Dollars in Thousands Except Per-Share Data, Unaudited)
 Three Months Ended 12 Months Ended
 Dec. 31 Dec. 31
 1991 1990 1991 1990
 End of period balances:
 Assets --- --- $1,295,883 $1,214,665
 Deposits --- --- 1,055,553 980,414
 Total loans (net of
 unearned) --- --- 826,184 789,023
 Common shareholders'
 equity --- --- 96,099 86,634
 Book value per share(a) --- --- 20.05 17.91
 Shares outstanding(a) --- --- 4,792,815 4,837,611
 Income data:
 Net interest income $12,983 $11,980 $50,568 $46,186
 Net income 3,264 3,178 12,616 11,938
 Net income per share(a) .68 .66 2.60 2.45
 Per-share data(a):
 Cash dividends .112 .099 .427 .365
 Market value - high 24.00 14.50 24.50 16.50
 Market value - low 20.50 10.00 11.75 10.00
 Average balances:
 Assets 1,247,518 1,216,973 1,215,362 1,190,769
 Deposits 1,029,025 1,016,256 1,011,854 989,789
 Total loans (net of
 unearned) 805,591 783,168 791,028 763,532
 Common shareholders'
 equity 94,582 85,213 91,359 81,749
 Average earning assets 1,165,977 1,137,588 1,137,229 1,109,973
 Key ratios (based
 on average):
 Return on assets (pct.) 1.04 1.04 1.04 1.00
 Return on common
 equity (pct.) 13.69 14.79 13.81 14.60
 Common equity to
 assets (pct.) 7.58 7.00 7.52 6.87
 Net interest margin (pct.) 4.68 4.44 4.73 4.43
 Net charge-offs to average
 net loans (pct.) (.01) .76 .20 .58
 Non-performing assets
 to net loans
 (end of period) (pct.) 1.00 1.10 1.00 1.10
 (a) -- Per-share figures have been adjusted for a 5-percent stock dividend declared Jan. 29, 1991, and a 5-for-4 stock split declared Jan. 28, 1992.
 -0- 1/28/92
 /CONTACT: Linda Krzyzaniak of 1st Source Corporation, 219-235-2643/
 (SRCE) CO: 1st Source Corporation ST: Indiana IN: FIN SU: ERN


SB-KK -- DE019 -- 4297 01/28/92 13:51 EST
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Date:Jan 28, 1992
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